Beyond the Grave, Revised and Updated Edition: The Right Way and the Wrong Way of Leaving Money to Your Children (and Others) – Protecting Inheritance from Creditors, IRS, and Risks of Loss

by Jeffrey L. Condon

This expert, one-of-a-kind handbook shows you how to ensure that your inheritance instructions will be carried out the way you want them to be; protect your children's inheritance from creditors, ex-spouses, addictions, tax troubles, mismanagement, squandering, and other risks of loss; prevent family conflict that can arise when parents die and children divide the "family money"; leave more money to your children and grandchildren, and less to the IRS; avoid creating inheritance problems in your family with "cautionary tales" of inheritance planning gone bad; understand why you still have to deal with estate tax issues even if your net worth falls below the new death-tax-exemption.

Genres: Finance, Self Help, Nonfiction, Money, Business, Personal Finance, Legal

528 pages, Paperback

First published January 1, 1995

Reviews

[Mireille Duval · Rating 3 out of 5]

I wanted to read this, honestly, for the sordid stories of families torn apart by ~greed. Like I had this idea that my siblings and myself were definitely above such tragedies. But as I read the examples, I realized that even in my amazing family, some stuff needed fixing, and before the death of the parental unit - which we did fix! So, thanks, this random book about estate planning!

Apart from my parental stuff, this was an entertaining read, considering the subject. (Well, I skipped the part about the IRS. I am Canadian.) I liked the question/answer format. I would have taken even more sordid stories. It got repetitive, obviously, but it's not really meant to be read straight-through, so the structure works well for specific cases.

I don't recommend this book if you are not on a personal finance kick like weirdo me, though.

[Anatoly Kaverin · Rating 4 out of 5]

Nobody lives forever, so everyone should have a Last Will. Book gives interesting insights of what may go wrong with the Will and how to avoid rookie mistakes. I wish the section devoted to minor kids could have more details. Definitely will reread once I get older and have real assets to leave to descendants.

[Artem · Rating 5 out of 5]

The topic of managing one's assets before the deaths, so to reduce the trouble after, is delicate and complicated. The author did a great job explaining it in many details.
I learned a lot about so called Living Trust, the topic I was looking to learn about.
Recommended, except the part that the law part is specific to the US, and might be different for people from other countries, like Canada.

[Jon · Rating 4 out of 5]

Good back, really talks a lot about inheritance and real life issues. Took me a while to get through but finally did.

[Laura · Rating 3 out of 5]

I definitely recommend this book if you have multiple children and/or grandchildren and/or if you are remarried. The majority of the book deals with those types of situations and would be eye opening and useful. If you are single, have a young child, or other earlier estate planning scenarios, it has a little information but may not be the best fit for the questions you may have.

[Mike · Rating 5 out of 5]

This is a fascinating view of family dynamics through the lens of an estate lawyer who writes wills and watches what happens to the family after the will is executed (i.e. the will writer dies). Who knew families were so complicated! Overall, I think Condon is overly pessimistic about human nature, but that is kind of his job and what the book is about. And even he admits that in 95% of the cases, the people involved will do the right thing. The prescriptions in the book are to address the 5% who need a little nudge. To his credit the book is quite readable. It is nicely organized and much is presented in a question and answer format. I was stupid and read an older version of the book (2001) but it didn't much matter, because the book is less about tax law (which has changed dramatically and will change more) than it is about human nature, the desire of parents to do right for their children (however they define it) and the way children react to their parents' actions.

How valuable a book you think this is may depend a bit on how much you align with some of Condon's strong beliefs. He puts a lot of value on family harmony and believes you must do your best to treat all your children equally (which is harder than it sounds). He is critical of your trying to be too controlling from the grave. Even so, I think this is a book for everybody who has discovered their mortality and has significant assets they want to leave to somebody.

[Elza · Rating 4 out of 5]

Estate planning dos and don'ts.

Mr.Condon updated his 1987 book in 2001 with this newer edition which has a lot of examples of what can go wrong and how those problems could be avoided. However, some of the ideas and advice are repeated several times. Also, since I read this in 2021, I wonder if there have been changes in the last 20 years that need to be addressed. I guess I will need to ask my estate planning attorney about that.

[Felipe (fcy) · Rating 4 out of 5]

Gets the job nicely done, and for a legal content book is it not boring. A bit repetitive sometimes with the stories and examples, but those repetitions also help you learn the multiple ways of applying a concept. After reading this book I few like I know what Will and Trusts are, how they work, and their pros and cons.

[Jan · Rating 5 out of 5]

If you are creating or updating your trust, read this! Really, really, really easy to read with frequent anecdotes. Gives you what thoughts to ponder as to how and why to plan what happens to what you leave when you pass to the Great Unknown. Easy to skip around to the chapter you need.

[Fuad R · Rating 5 out of 5]

This book should be read by all individuals and their families especially to acquaint them selves with inheritance and it’s problems.
FR Qubeinit

[Elizabeth · Rating 5 out of 5]

Great info!

This is a must read before preparing a will and trust. Great up to date info and enough stories of real life mixed in to keep it an easy read.

[Ro · Rating 5 out of 5]

No estate plan is simple. This book proves it. It addresses all the what-ifs and provides cautionary tales and excellent explanations for how to approach preparing your estate plans.

[Lauren · Rating 2 out of 5]

Fearmongering and repetitive; not helpful

[BJ Marchini · Rating 5 out of 5]

I definitely enjoyed reading it but would love another revised edition with updated tax laws. The stories on human behavior though are still timeless!

[Nicole · Rating 5 out of 5]

Took me forever to finish, but glad I read it & that I have it as a reference. Can’t imagine a scenario that isn’t covered by this book. Highly recommend to anyone thinking about estate planning.

[Marti Eisentraut · Rating 3 out of 5]

Great stories from Condon's legal career. Practical advice for estate planning. Thoughtful warnings about what "could" happen when the adult children inherit the estate and ways to mitigate potential problems. So sad to read all the stories of families fighting over the money.

[R Hale · Rating 5 out of 5]

One of the most helpful estate planning books I've read. It certainly impacted my planning. I sent a copy to my dad who found it useful for his estate planning.

[J. Ewbank · Rating 4 out of 5]

This book by the Condon's is excellently presented and covers what you need to know as you are aging in relation to how to leave money to your children and others.

When you are older and have a little money and you want to do certain things with that money, this is the book for you to help guide you through a difficult and emotionally charged area.

This book will provide an abundance of ideas and help for the older to study and think through. It will also help you with making out a will and other items that we should all be working on.

A good, solid read.

J. Robert Ewbank author "John Wesley, Natural Man, and the 'Isms'"

[Sam · Rating 5 out of 5]

If you think just a will (or perhaps even a living trust) is enough, read this book. Condon explores the dynamics of how people act after someone dies. I was shocked. I read this in advance of going to an estate planning attorney, and it cleared up one thing easily. I will use a professional trustee! The only questions then I will have concern special needs trusts and revocable vs. irrevocable trusts. As Condon points out, when it gets down to your own specifics, that’s where you work those out with your own attorney and trustee arrangement.

[Marta · Rating 5 out of 5]

An informative and revealing view into the personal emotion, and the legalities that will visit each and every one of our families, when we die and leave our love, possessions and money to family and friends.

A must read for every person with adult children.

[Shayne · Rating 4 out of 5]

Clear thinking and straight talk on inheritance and such. Worth checking out from the library for a quick review. The author's emphasis on 'equalization' as a means of not destroying family harmony is worth considering.

[Glenn Banks · Rating 5 out of 5]

i enjoyed this book even though i am not married have no kids, i just like the knowledge. i think i may ask my parents a few questions, and i do hope my brother ken has a plan since i know he does not like a son-in-law. it would be nice to know that he would not get any money.

[Jennifer · Rating 4 out of 5]

Eye opening but easy to read book. Question and answer format very helpful structure.