The Wise Inheritor

May 1, 2003
Perry, financial columnist for the San Diego Union-Tribune, addresses how to deal efficiently with an inheritance, be it in cash, securities, real estate, or other intangibles. Acknowledging the powerful emotions that come into play when one receives an inheritance after the death of a loved one, the author walks us through the various stages she herself has experienced, offering encouragement and fine practical advice. Even though communication about estate planning with elderly relatives is critical, Perry stresses that written documentation is equally crucial, whether it be a complete inventorying of assets, preparing a power of attorney (legal or medical), or even writing one's own will. Her discussion on how to handle the disposition of a family-owned business on the death of the founder is especially thorough. While much of what the author tells us constitutes basic estate planning, there is also a great deal more here that could conceivably ease the pain of receiving a bequest. The author sees an inheritance not as a sad ending but as a beginning, almost like obtaining "inheritance venture capital, a rare opportunity to enhance your life, in ways that you define." Recommended for all public libraries and where interest warrants.-Richard Drezen, Washington Post/New York City Bureau

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