In recent posts we’ve discussed the importance of protecting wealth for future generations with an estate plan and how you can best communicate with your kids about financial literacy. But what if your heirs are not your offspring, but your parents?  Last week the world was stunned to learn of the death of former Zappos CEO Anthony Hsieh due to injuries sustained in a house fire.  Just forty-six years old, Hsieh was considered a “visionary” by his contemporaries, not just for his business smarts but for his commitment to the revitalization of downtown Las Vegas. He also authored the book, Delivering Happiness: A Path to Profit, Passion and Purpose, which spoke volumes about his philosophy on life.  At that young age he had already created an incredible legacy, and if tragedy hadn’t struck he surely would have continued to…

We’ve all seen movies where a person of means passes away, leaving their loved ones to wonder what, if anything, they will inherit. There is the nail-biting reading of the will scene, where one child is shocked to learn they have been disinherited “for reasons known to them,” or offspring no one knew about shows up to claim control of the company and the lion’s share of the estate. A battle ensues, pitting sibling against sibling and ending in estrangement and, inevitably, a mountain of legal fees. While this may seem like the stuff of Hollywood drama, the truth is that even the closest real-life families have been torn apart by money. Here are some factors that may cause problems among your heirs and ways you can avoid them with succession planning. Transparency, transparency, transparency.  The first step is…