Business Owners – Avoid This Estate Plan Gone Bad

ID-100188087In 1948 Harry and Esther Snyder started In-N-Out Burger in Baldwin Park, California.  If you visit their website today you will see a vibrant company with 283 locations in 5 states (http://www.in-n-out.com/).  But beneath this exterior lies a story of family strife and dysfunction and a fight for control of the company.  Forbes did a recent article on this (http://tiny.cc/p6c0tw), and concentrated on Lynsi Torres (a grandaughter of the founders and who Forbes calls “one of the richest 30-year-olds in the world”).

No doubt when the Snyders started their company and set up their estate plan, they never envisioned such family problems.  The lesson to be learned is to build and maintain an estate plan that encompasses your family values just as much as it does your family balance sheet.  You want your success to be a foundation for even better things for your heirs,  your community and your chosen charities.

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The information in this material is only as current as the date indicted, and may be superseded by subsequent market events or for other reasons. Statements concerning financial market trends are based on current market conditions, which are subject to change and which Payne Wealth Partners, Inc. does not undertake to update. While all information prepared in this document is believed to be accurate, any statements of opinion constitute only current opinions of Payne Wealth Partners, Inc., which are subject to change and which Payne Wealth Partners, Inc. does not undertake to update. Accordingly, you should not put undue reliance on these statements.

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