You know that deprecating saying that goes around about how the average American spends more time researching the right fridge to buy than studying investing? There’s a corollary to that that should be kept in mind as well: among people who study investing, there is almost no time spent making sure that the paperwork for disbursing the funds (either during life or after it) is done correctly.
The laws regarding the settling of estates, or pretty much anything involving dead people, often have strict rules that look to actual actions rather than intent because the person isn’t around anymore to say what they meant and all that’s left is a swearing contest between adverse parties confident that they know what the deceased individual really wanted.
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Before Leonard Smith lost his battle with cancer in 2008, he worked with his financial advisors and attorneys