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Posts tagged with "protecting adult children in estate plans"

Estate Planning · September 15, 2025

When Fame Can't Fix Family: What Hulk Hogan's Estate Teaches Us About Failed Planning

When family conflict ruins inheritance: Hulk Hogan’s estate shows why wills and trusts alone aren’t enough. His daughter walked away from millions after clashing with outsiders influencing her father’s care. Learn how failed planning, blended family tension, and poor communication lead to heartbreak, and how Life & Legacy Planning keeps families protected and connected. Read more.

When Fame Can't Fix Family: What Hulk Hogan's Estate Teaches Us About Failed Planning

Mon 15 Sep 2025

When wrestling legend Hulk Hogan died at age 71, the world lost an icon. But behind the headlines about his estimated $25 million estate and decades of wrestling fame lies a heartbreaking family story that offers powerful lessons for anyone with people they love.

(See estimated $25 million estate.)

This story demonstrates that wealth and fame can't substitute for the kind of planning that actually protects families from conflict and preserves relationships. Even with millions of dollars and access to the best legal advice money can buy, the Hogan family still experienced the pain that comes when estate planning focuses on documents rather than relationships.

Let's explore what went wrong and how proper Life & Legacy Planning® could have prevented this heartbreak.

What Happened in the Hogan Family

To understand the magnitude of this family tragedy, let’s analyze what happened. Brooke Hogan is Hulk’s daughter from his first marriage. But she wasn't just his daughter—she appears to have been his devoted caregiver. According to reports, she was there for every surgery he had, she’d take detailed notes from every doctor who treated her father, and coordinated his medical care through multiple health crises. She even moved from Michigan to Florida to be closer to her father.

8 Business Strategies for Managing Difficult Clients Like a Pro - Part 1

Wed 10 Sep 2025

You work hard to deliver a great service. Most of your clients appreciate that. But every business eventually faces a difficult client—the one who blows up your inbox with demands, refuses to pay, or pushes every boundary you've set. These situations don’t just drain your time and energy; they can damage your company’s reputation and bottom line if you’re not prepared.

Fortunately, you don’t need to manage difficult clients on a case-by-case basis. The key is building protective systems into your business so you can minimize disputes and handle the ones that do arise with confidence and professionalism.

In this first part of the series, you'll learn four strategies to protect your time, money, and peace of mind, starting with setting clear expectations from the get-go.

Strategy 1: Set Clear Expectations From Day One
Most client disputes stem from mismatched expectations, not malicious intent. Clients think they’re getting one thing, you deliver another, and now they’re upset. That’s why your client sales and onboarding process needs to clearly define what you will and won’t do.

The $1.5 Million Estate Planning Mistake You Can't Afford to Make

Mon 08 Sep 2025

Picture this: You and your spouse spend decades building a successful business, accumulating assets, and creating a stable life for your family. You think you've done everything right with your estate planning. Then tragedy strikes, and a simple paperwork error costs your children $1.5 million in taxes they never should have owed.

This isn't a hypothetical scenario—it's exactly what happened to the Rowland family in Ohio. In this article, you'll discover the costly mistake that devastated this family's legacy, why it's becoming an increasingly common problem for wealthy families, and most importantly, how to make sure it never happens to yours.

When "Good Enough" Estate Planning Becomes a Family Nightmare

Billy Rowland was the kind of guy who wore a "World's Greatest Grandpa" cap and spent his life building something meaningful. Over decades, he expanded his small businesses across Ohio—trucking, used cars, real estate, banking. He served on charity boards and seemed to have his financial house in order.

When Billy's wife Fay died in 2016, her estate filed the required tax return to preserve her unused estate tax exclusion for Billy's future use. It seemed like routine paperwork. The return estimated her estate's value and listed various assets—real estate, business shares, the usual suspects.

When Every Dollar Counts: How Labor Day Reminds Us That Life & Legacy Planning Is More Essential Than Ever

Mon 01 Sep 2025

Labor Day has always been about honoring the American worker—the people who build our communities, power our economy, and create the foundation of our society. But this year, as we fire up our grills and enjoy that long weekend, there's an elephant in the room that deserves our attention.

For millions of working families, every dollar has become precious in a way it hasn't been for decades. While we celebrate labor, the reality is that the fruits of that labor aren't stretching as far as they used to.

Let’s explore why the current economic squeeze actually makes protecting your hard-earned money more important than ever before.

We'll consider specific data showing how much basic necessities have increased, why this makes estate planning crucial rather than optional, and how Life & Legacy Planning can ensure every dollar you've worked for reaches the people you love—instead of being lost to legal complications and unnecessary fees.

The Numbers Are Staggering
The data tell a stark story that affects people where it hurts most - the essential costs of daily life.

What Women Need to Know About Estate Planning

Wed 20 Aug 2025

Women outlive men, make less during their careers and have less in savings due to pay discrepancies and time taken out of the workforce to raise their families.

These are just a few reasons why it is important for you to know the following about estate planning:

Minor children can be legally protected with a Kids Protection Plan, which provides parents with important legal tools to name short- and long-term guardians, provide instructions and guidelines for those guardians and execute medical powers of attorney that allow you to dictate medical care for your minor children in case they are injured and you are not with them.

A will and a living trust are both essential estate planning tools, and although both can be used to transfer assets upon death, they serve separate purposes. A living trust can take effect while you are alive or after death. It allows you to hold assets for your benefit during your life, which may prove useful if you become incapacitated in the future. A living will can also be beneficial if you own real estate in another state. A will only takes effect upon death, and is used to appoint guardians for minor children, cover assets that are not part of a living trust and create trusts that kick in after death.

Women need to execute financial and healthcare durable powers of attorney and consider choosing a member of the family if that person is willing to assume the responsibility of making financial and/or medical decisions on your behalf in case of incapacity. And, if you are married or partnered, make sure your spouse or partner does the same because you’ll be the one who is handling things if anything happens to your spouse/partner and you want it to be as easy as possible.

Nobody Prepared Me for This! The Reality of Managing Inherited Real Estate

Fri 15 Aug 2025

You've just lost someone important to you, and now you're responsible for their home. Maybe it's sitting empty while you figure out what to do next. Maybe you're planning to sell it, or perhaps other family members want to move in eventually. Whatever your plans, you're about to discover that an empty house needs almost as much attention as an occupied one—sometimes more.

The challenges of managing a vacant inherited home go far beyond simply deciding whether to keep it or sell it. From the moment you take responsibility for the property, you're facing security risks, maintenance issues, insurance complications, and legal responsibilities that most people never anticipate.

Let's walk through what you can expect and how to protect both the property and your family's interests.

The Immediate Security Concerns You Can't Ignore

The first 48 hours after someone dies can be critical for protecting their home. Unfortunately, there are people who see a death announcement or funeral notice as an opportunity. Break-ins during funeral services happen, and an obviously empty house can become a target for theft or vandalism.

100 Heirs, $17 Billion, and 1 Big Estate Plan: What You Can Learn from a Tech Billionaire

Fri 08 Aug 2025

Imagine you’re worth $17 billion and have over 100 biological children—some born through relationships, others through anonymous sperm donations. What would your estate plan look like? More importantly, what could go wrong if you didn’t have one?

In a recent interview with Le Point magazine, Pavel Durov, the co-founder of Telegram, revealed exactly that. Durov, who is just 40 years old, says he has six children through relationships with three partners and over 100 more conceived through anonymous sperm donations across 12 countries.

Despite this staggering family tree, Durov says he plans to leave his fortune equally to all of his biological children. Most of us won’t leave behind a tech empire, a billion-dollar estate, or triple-digit biological children.

But Durov’s story reveals something important: no matter how complex or simple your life may seem, you need an estate plan that works. Here's why.

Maximizing Education Funding Through Estate Planning: A Strategic Approach

Fri 01 Aug 2025

As a parent or grandparent, you understand the significance of planning for a child’s education. With tuition costs continuing to rise, choosing the right financial tools is more important than ever.

But with so many options out there, how do you know which ones are the best fit for your family’s unique needs?

At our firm, we’ve worked with countless families to integrate education funding into their broader estate plans. In this guide, we’ll walk you through some of the most effective tools available today, highlight the pros and cons of each, and explain how they can be seamlessly integrated into your existing plan.

The Most Effective Tools for Education Funding

When it comes to saving for education, there are a variety of accounts and strategies available—each with its own set of advantages and considerations. Here’s a closer look at a few of the most powerful tools:

1. 529 Plans: A Versatile, Tax-Advantaged Option

529 Plans have become the go-to option for many families, and for good reason. These tax-advantaged savings plans allow your contributions to grow tax-free, and withdrawals remain tax-free as long as they’re used for qualified education expenses. In recent years, 529 Plans have only improved. Since 2020, they’ve expanded to cover not only college tuition but also K-12 education and even apprenticeships.

The Life-or-Death Decisions Your Family Shouldn't Have to Make Alone

Wed 23 Jul 2025

When you think about estate planning, you probably picture wills, trusts, and who gets what. But what happens when decisions are made about your body, without your full consent or when you're not really gone?

A recent federal investigation uncovered a chilling truth: in dozens of cases, patients showed signs of life even as hospital staff prepared to remove their organs.

If your loved ones were in that position, would they know what to do? More importantly, would they know what you would want?

In this article, I’ll explain how a comprehensive Life & Legacy Plan protects not just your loved ones, but you. We’ll explore the risks of poor planning, how to make your medical wishes known, and how to ensure no one makes life-or-death decisions for you without your voice.

Organ Donation Without Clarity Can Go Horribly Wrong

According to a June 2025 New York Times report, in 2021, Anthony Thomas Hoover II's family faced their worst nightmare when he overdosed and was near death. They gathered and made the excruciating decision to end life support and donate his organs. As the hospital prepared for the removal procedure, something surprising happened.

The Cost of a Bad Hire: How to Build Systems That Protect Your Business

Mon 21 Jul 2025

When you're running a business, every hire feels critical. You need talent that fuels growth, not drains resources or derails progress.

Yet, a staggering 75% of employers admit to hiring the wrong person, and the consequences extend far beyond just finances. A bad hire also drains your time, energy, and attention, significantly decreasing your team's productivity and morale.

Understanding and preventing these costs isn't just smart business; it's essential for survival in today's competitive landscape. Let's explore why bad hires occur, what they truly cost your business, and how you can build robust systems that protect your investment and support your growth.

The Real Financial Impact of Hiring Mistakes
Bad hires don't just cost a little; they can cost your business thousands. According to a CareerBuilder survey, the average bad hire costs approximately $17,000. These costs accumulate in often unanticipated ways. Consider the recruitment expenses alone: job postings, background checks, and the countless hours you and your team spend interviewing. That investment effectively doubles when you have to restart the hiring process.