What Family Greed Over Inheritance Actually Comes Down To
Family greed and inheritance disputes are not random acts of dysfunction. They follow predictable patterns, strike at predictable moments, and cause predictable damage.
Knowledge Base
Lee Anderson writes about tax strategy, estate planning, and wealth management for FatFire, covering the questions that matter to high-net-worth households pursuing financial independence. Every article draws on primary sources including IRS guidance, fund prospectuses, and academic research, and is reviewed against the FatFire editorial standards (fatfire.com/editorial-standards/) before publication.
516 articles — page 37 of 43
Family greed and inheritance disputes are not random acts of dysfunction. They follow predictable patterns, strike at predictable moments, and cause predictable damage.
Placing property in a land trust does not eliminate your property tax obligation. The legal structure holding title is largely irrelevant to local assessors, who tax based on ownership and use.
Setting up an irrevocable life insurance trust (ILIT) typically costs $3,000 to $20,000 in attorney fees alone, plus $2,500 to $5,000 annually in ongoing trustee and administrative expenses.
Trust fund disadvantages are real, material, and frequently underestimated by people who focus on the headline benefits.
Gifting land is one of the most consequential moves in high-net-worth estate planning, and it is frequently done wrong.
Louisiana is the only U.S. state governed by civil law rather than common law, and that distinction carries real financial consequences for inheritance and community property in Louisiana.
Dissolving an irrevocable trust in New York is possible, but the bar is genuinely high.
Gifting RMD funds to family members is a legitimate wealth transfer strategy, but it does not reduce the income tax you owe on those distributions.
GST trusts let you transfer assets to grandchildren or later generations while applying a single lifetime exemption, rather than watching wealth erode through successive rounds of estate tax at each generational transfer. For anyone holding $10M or more, the math on that difference is not subtle.
There is no inheritance tax in NZ. New Zealand abolished estate duty in 1992 and gift duty in 2011, confirmed by the IRD, leaving no direct tax on wealth transferred at death or by gift.
Canada has no federal estate or inheritance tax. That framing, while technically accurate, is also dangerously incomplete for anyone with a $5M+ estate.
Irrevocable trust expenses fall into two categories: those that reduce the trust's taxable income and those that don't. Getting this distinction wrong costs real money.