Estate Planning for the Healthy Wealthy Family

Last Updated: 9/28/2007

Stanley D. Neeleman, J.D., Carla B. Garrity, PhD., Mitchell A. Barris, PhD., Estate Planning for the Healthy Wealthy Family (Allworth Press, New York, NY, 2003. 240 pages).

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This book offers a unique perspective on estate planning. Instead of focusing solely on wills and trusts and other estate planning methods, Estate Planning for the Healthy Wealthy Family discusses how to create a values-based estate plan.

Written by a law professor and two psychologists, the book asserts that the key to effective estate planning is to pursue objectives that conform to your values and circumstances. For example, if your goal is financial independence, you'll want to explore alternatives to giving away your money in order to qualify for Medicaid. The authors provide a list of questions to help readers prioritize values.

In addition to discussing more typical estate planning topics like using trusts to protect assets, saving on taxes, and advance directives, the book also discusses how to teach children about money, including how to subvert greed. Other topics include divorce, sibling rivalry, and gaining and losing wealth. The book highlights various resources for maintaining a standard of living, how to optimize savings, and how to leave a philanthropic legacy.

Peppered with quotes from philosophers like Aristotle and Hobbes, Estate Planning for the Healthy Wealthy Family places estate planning in a broader context and focuses on family harmony. While not for everyone, the book offers a distinctive take on planning for the future.

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