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Families That Fight Over Inheritance

The recently deceased don’t always ingratiate themselves with their survivors when it comes time to read the will.

“People want to control things from the grave, not just throw a bunch of money in a beneficiary’s lap,” says family wealth guru John Pankauski, author of the new book, “Pankauski’s Trustee’s Guide: 10 Steps to Family Trustee Excellence.”

It’s their money so that’s their right.Fighting Over Money

But family members aren’t always crazy about how the deceased divided up the money or, if the inheritance was put into a trust, the restrictions that are placed on how the money is spent.

And often ill feelings among family members can bubble to the surface when money is at stake.

“I deal with sibling rivalries, petty jealousies and childhood grudges played out by adults who are decades older, but no more mature,” says Pankauski, founder of the Pankauski Law Firm (www.pankauskilawfirm.com), which specializes in trust and estate law. “It makes me think that part of my job is to be a wealth psychologist.”

Often, an inheritance isn’t doled out immediately. Instead, it’s placed in a trust with a trustee to oversee it, making decisions on when and how to distribute the money based on the terms of the trust.

In many situations, that works out fine. But in seriously dysfunctional families, that can make a bad situation borderline intolerable.

Sense Of Entitlement

Pankauski says any number of factors can lead to family feuds or general disgruntlement over an inheritance. Here are just a few:

•  Sense of entitlement. Many beneficiaries have a misplaced sense of entitlement to an inheritance. They just expect that mom or dad will leave them money or property. In their minds, it’s what they have coming to them. “The truth is, you can dispose of your property any way you want,” Pankauski says. “There is no right to an inheritance and just about anyone can be disinherited.”

So if people want to leave their money in a trust for a family pet, or bequeath everything to a neighbor, a mistress or a charity, they have every right to do so, assuming they are competent and know what they are doing. “It’s their money,” Pankauski says. “They can do with it as they wish.” Other than dealing with a spouse, there are almost no restrictions.

•  The audacity of the trust. Family members often become frustrated and angry when they realize they inherited money, but it’s in a trust and there are strings attached.  “The beneficiaries view trusts as handcuffs on their money,” Pankauski says. “A trust takes all those family members’ personal feelings and emotions, all that baggage, and adds money to create a financial stew into which the beneficiaries are thrown.”

Often, because beneficiaries don’t like it that a trustee gets to make decisions on when and how they get a portion of their inheritance, family members will seek counsel and try to “bust the trust.”

•  An implied accusation of financial irresponsibility. At some point it may begin to dawn on beneficiaries that one reason the inheritance was placed in a trust is that the deceased didn’t view them as responsible with money. “That may seem insulting, but it doesn’t have to be,” Pankauski says. “Many would argue that most people are irresponsible with money, particularly a large sum of inherited money that appears out of the blue, much like winning a lottery.”
Sometimes at least a portion of the family animosity might be avoided by better planning when the will is being written and the trust created.
“When beneficiaries don’t get along,” Pankauski says, “it may make more sense to cut their financial ties by either creating multiple separate shares within the trust or creating separate trusts altogether.”

For the Silo, John Pankauski, LLP.

 

Artificial Stimulants In Energy Drinks Hurt Kids

Monster Energy Drink 666 Hebrew Numbers

Why Your Kid Shouldn’t Be Guzzling ‘Energy’ Drinks
Vitamins & Minerals are Safer and More Effective than
Artificial Stimulants, Says Food Science Expert

Anxiety, hypertension, elevated heart rates, interrupted sleep patterns and headaches are just some of the side effects commonly associated with energy drinks, and those problems are more pronounced in children, according to a recent University of Miami study.

But that’s just the tip of the iceberg. These drinks have also been linked to heart palpitations, strokes and sudden death.

The term “energy” drink is an unfortunate misnomer, says food science expert Budge Collinson. They don’t give your body energy; they stimulate you with brief jolts of caffeine and unregulated herbal stimulants, he says.

“Soccer moms and dads buy these ‘stimulant’ drinks for their kids before matches because both kids and parents want that competitive advantage,” says Collinson, founder of Infusion Sciences and creator of Youth Infusion, (www.drinkyouthinfusion.com), an effervescent, natural multivitamin beverage that helps people maintain consistent and healthy higher energy levels. 

“For a few moments, you’ll get that spike, but it’s a short-term experience with a heavy long-term toll.”

So, what are some ways kids can get a healthy energy boost? Collinson offers the following tips.

•  Go for a speedy bike ride together, take a brisk walk or hold foot-races in the yard. Numerous studies demonstrate the power of vigorous exercise in boosting energy. Exercise pumps more oxygen – pure, healthy fuel — into the bloodstream and to the brain and muscles for a short-term energy boost. Exercising regularly will increase lung capacity, so the body will gets more oxygen on a sustained level for the long term. Exercise also releases endorphins, the body’s natural feel-good chemical, which makes us feel happy. And happy people are energized people.

•  Seek nutrition from a variety of sources. As humans, we need more than 40 different vitamins and minerals to keep our bodies functioning optimally. Since there is no single food that contains them all, it is important for children and adults to eat a variety, including as many different vegetables and fruits as possible. Adding a daily multivitamin supplement with essentials such as CoQ10, arginine, theanine, resveratrol and magnesium can help ensure bodies young and old are running at top speed.

•  Drink plenty of water – the natural energy drink. Even mild dehydration can leave children (and adults) feeling listless, so encourage children to make a habit of drinking plenty of water. Kids need more water than adults because they expend more energy, and they may not recognize when they’re slightly thirsty. Parents, too, often don’t recognize the signs of dehydration; a national survey of more than 800 parents of kids ages of one month to 10 years found that more than half feel they don’t know enough about dehydration. A quick, light pinch of the skin on the child’s hand or arm is an easy check. If the skin is slow to resume a smooth appearance, the child is likely at least mildly dehydrated.

About Budge Collinson

Budge Collinson was the beneficiary of his mother’s natural health formula as a sick baby, which led to a deep interest in health and wellness at a young age. After years of research and seeing the growing demand for natural products with clinical support, he founded Infusion Sciences, www.infusionsciences.com. Collinson earned a bachelor’s degree in food and resource economics from the University of Florida and certification from the National Academy of Sports Medicine. Recently, he became a member of the American Academy of Anti-Aging Medicine and consistently attends the Natural Products Expo, where he learns the latest science and news about nutritious ingredients. Collinson is also a go-to source for media outlets across the country for healthy lifestyle and food source discussions.

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