Next in Line is a weekly newsletter for advisors, brought to you by Herbie, covering the practical yet consequential interaction between estate planning and family dynamics.
Tom was entering his 90s. He never married, had no children. He lived in the same apartment he had been living in for decades.
Tom had a fairly successful career as a business executive. But what the outside world didn’t know about Tom was that he was an avid investor. Over the years, Tom had accrued tens of millions of dollars through smart yet under-the-radar investments.
As Tom’s physical stature started to decline, he had a critical question: what do I do with all my money?