Yours, Mine & Ours

Non-Fiction - Business/Finance
216 Pages
Reviewed on 08/30/2023
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    Book Review

Reviewed by Pikasho Deka for Readers' Favorite

Procrastinating on preparing a will or neglecting to plan for your estate's inheritance can create massive problems for your children. Preparing for your family's future needs and well-being requires foresight and meticulous estate planning beforehand. With Yours, Mine & Ours, L. Paul Hood, Jr. draws upon his decades of experience as an attorney involved in estate planning to show you how to apply estate planning strategies that suit one's specific family's needs. This book addresses issues that may arise for blended families. The key elements of estate planning include assets and cash flow, players, and estate planning tools. What are your goals? Hood, Jr. offers invaluable advice on retaining access to capital and control over business decisions, donating to preferred charities, identifying the players involved, handling power of attorney and taxes, dealing with conflicts of interest, and much more.

Yours, Mine & Ours is one of the most comprehensive books on estate planning I've ever read. In this book, L. Paul Hood, Jr. delves into an important yet often overlooked aspect of life--how to ensure support for the family and protect them from outside influences, and sometimes even themselves, long after you've gone? This book will teach you how to handle medical, financial, and end-of-life decisions. The author emphasizes the importance of reviewing your estate planning documents to see if they reflect your current wishes and your family's needs. The author takes a methodical approach to the subject matter and provides readers with a step-by-step framework to guide them through the estate planning process. The book also contains examples of a few scenarios to showcase how estate planning differs according to situations. Highly recommended.