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  • Related Resources
  • Legacy Lexicon
My mom, 65, inherited $450K when my dad died — but now she’s hooked on slots and burning through the cash. How can I protect our family’s assets before it’s too late? 27 Sep
  • by Estates Gone Wrong
  • Curated Content, Squandered Fortunes

My Mom Inherited $450k: Now She’s ‘Hooked on Slots’

Texas woman, 40, squandered $250K inheritance on travel and ‘fancy dinners’ — how she turned things around... 13 Sep
  • by Estates Gone Wrong
  • Curated Content, Squandered Fortunes

Texas Woman Squandered $250K Inheritance

The multibillion-dollar fortune belonging to the reclusive Hermès heir has seemingly vanished months after he promised to donate a large chunk of his colossal inheritance to his gardener. 01 Aug
  • by Estates Gone Wrong
  • Curated Content, Squandered Fortunes

Hermès Heir’s $13B Fortune Has ‘Seemingly Vanished’

Incorporating tools and strategies into your estate plan to mitigate a beneficiary’s spendthrift habits is vital to protect both the beneficiary and your assets. 21 Mar
  • by Estates Gone Wrong
  • Curated Content, Squandered Fortunes

Estate Planning Strategies for Managing a Spendthrift Beneficiary

It’s hard to know how much of Barbara Hutton’s tragic life was caused by her early inheritance. But her story still can be useful to help spare children and grandchildren the irreversible damage caused by too much money at too early an age. 14 Feb
  • by Estates Gone Wrong
  • Curated Content, Squandered Fortunes

The Woolworth Misfortune: How Not To Provide For Heirs

These People Inherited Fortunes — Then Blew Them All Away | Celebrity Estates | High Net Worth | Estates Gone Wrong 17 Feb
  • by Estates Gone Wrong
  • Curated Content, Squandered Fortunes

People Who Inherited Vast Fortunes & Blew Them All Away

We may not have billions to lose, but we can still learn something from these families' misfortunes. Here's how five of the richest American families lost their money — and you may want to take notes. 24 Mar
  • by Estates Gone Wrong
  • Curated Content, Squandered Fortunes

How Five of America’s Old Money Families Lost It All

Yes, the statistics may be grim. But just because most wealthy families see their fortunes evaporate within a couple of generations does not mean yours will. Here are some strategies to avoid it... 17 Jun
  • by Estates Gone Wrong
  • Curated Content, Squandered Fortunes

Most Kids from Wealthy Families Squander their Inheritance

A blessing and a curse... Soon after coming into my windfall, I was bombarded with people who were only interested in my money. Acquaintances were constantly throwing investment pitches my way, and friends expected me to foot the bill. 10 Jan
  • by Estates Gone Wrong
  • Curated Content, Squandered Fortunes

What Blowing a $250k Inheritance Taught Me

I had no idea I was due to inherit a substantial sum. Sudden wealth puts you in a cocoon; it makes you feel invincible. I thought I was Superman... I was too young and immature to handle such wealth. 19 Jun
  • by Estates Gone Wrong
  • Curated Content, Squandered Fortunes

Sudden Unexpected Wealth: How I Blew My Inheritance

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Topics:

  • Bizarre Bequests (28)
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Ever thought about gifting a property to your children? I recently had this very discussion with my own aging parents. This resulted in some important discussions about our family home, their goals and consideration for the tax outcomes of any decisions made...

Transferring the Family Home: Considerations for Canadians

Transferring property to heirs "inter vivos" offers emotional benefits and potential probate fee reduction, but can trigger an immediate capital gains tax liability and means a loss of control and potential exposure to your heir's creditors. 

Gifting Property to Your Heirs “Inter Vivos”: Pros and Cons

Major life transitions can cause stress that makes it hard to think clearly, leading to poor financial decisions. A Certified Financial Transitionist can help you manage the financial and emotional aspects of these events.

The Financial and Emotional Challenges of Major Life Changes

Staying informed isn’t just good practice. It protects relationships, builds trust, and ensures clients feel safe and supported. Consider bookmarking the BankSafe Dementia Hub as a go-to reference when navigating delicate client situations.

Dementia Hub: Fraud Prevention Resources from AARP

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