Many of us look forward to the holiday season as a chance to see and reconnect with family members. It can be a wonderful time of renewal, but it can also be a time of tragedy. Sadly, statistics show that relatives may be predators seeking to get their hands on some or all of the assets of their parents or aunts or uncles.
Recent articles have highlighted how astronaut Buz Aldrin and Marvel Comics legend Stan Lee are now fighting their children to retain control of their assets! Unfortunately, some of those we love the most may be the very ones we need to guard against.
Our suggestion – make a commitment to yourself now. If loved ones want to “talk business” during the holidays, especially if it’s some new idea or plan, listen carefully, but make no commitments and don’t sign anything. Tell them that the holidays are for celebrating our faith and family; it isn’t a time to conduct business. If they insist that something absolutely has to be done before year end for tax purposes, consider that a red flag!
After the holidays, you can consider what your loved ones have said and seek “second opinions.” At The Foundation, we are not legal or financial experts; however, we’d be more than happy to listen and provide our thoughts and maybe some good follow-up questions to ask before committing to anything. As always, we can be reached at 804-521-1121.
Enjoy your holidays! Business can wait until next year!!