Word: leiser
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Dates: during 2003-2003
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...best estate-planning advice Harry Leiser ever got came from his rabbi. "He had seen too many families fight over estates after the death of the parents," says Leiser, 56, a New London, Conn., commercial--real estate owner. "He suggested two things: treat each child equally, and don't rule from the grave...
...Leiser, the father of two grown sons--one a law student, the other a teacher--took the advice to heart. "Family harmony was my motivation," he says, "and I divided my primary assets equally between my sons--with no strings attached--even though one has much greater earning potential than the other." Moreover, Leiser told his sons what they could expect so that any potential conflict could be dealt with before his death...
Estate planners would applaud Leiser and his rabbi. "Too many people think of estate planning in terms of preserving their assets," says estate attorney Les Kotzer of Toronto. "They should instead be focused on preserving the family." Like many other estate attorneys, Kotzer, co-author of The Family Fight: Planning to Avoid It, has seen his share of family squabbles because of something parents did--or didn't--do in their will...