July 2014

When I meet with one of our clients or prospective clients to review their estate plan, invariably the one question that arises is how can I leave a large inheritance to a younger relative without forever changing their life. When I was in my sophomore year of college, one my friends (let’s call him Lenny, age 19) inherited from his father what you would call a significant amount of money at the time. Lenny went on a shopping spree that made the Springfield, Massachusetts merchants smile ear to ear. I remember Lenny purchasing a brand new Ford and within a month or so, he decided he did not like the engine and bought a new one. Oh, and yes within the semester Lenny withdrew from college. The last time I heard about him he had spent his inheritance and was drafted into the Army. Continue reading “July 2014”