Elizabeth Harris
08/01/2007
Wealth represents so much more than money—especially when wealth holders begin to consider what they will actually leave their heirs. This year, in our annual appraisal of a select group of American families that found unique ways to overcome the most vexing estate-planning challenges, all of our subjects share a particular problem: A patriarch’s life work is at stake. In one case, the heirs to a large family foundation set themselves up as de facto guardians of their state’s less-fortunate residents, but must find a way to carry on their philanthropy for decades to come. In the second, family business leaders struggle with a method for shielding their enterprise from the impending estate taxes that could end its historic life. Finally, the owner of a Chinese art collection that survived the fall of the Qing dynasty, rebellion, war and a revolution strives to maintain it for future generations.
Alternatively, since we published our examination of the top
estates last year, the tabloids and talk shows have been rife with tales of
serious estate-planning neglect. We recap some of these beginning below.
Additional Information
The Rasmuson EstateThe Hooker EstateThe Weng Estate