Harold did not think of himself as wealthy. Estimated read time: ~5 minutes. Harold did not think of himself as wealthy. That was the first thing his daughter always said. He had a house in Los Angeles. A pension. A retirement account. A small life insurance policy. A paid-off car. A checking account, a savings account, and a garage full of tools no one was allowed to borrow without signing them back in. He had worked for more than 40 years. He had raised … [Read more...] about Don’t Let the State Decide What Happens to Your Legacy
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An Uplifting Sunday of Faith, Fellowship and Community
On Sunday, August 30, Attorney Collins and her husband, Al Jenkins, were grateful to spend a beautiful and uplifting morning with the congregation at Third Church of Religious Science in Leimert Park. The service featured a powerful and heartfelt message from Pastor Emeritus Rev. Ronnie Jones, whose words were both inspiring and energizing. In addition to his longtime leadership in the faith community, Rev. Jones is also a highly respected developer of commercial and residential properties, … [Read more...] about An Uplifting Sunday of Faith, Fellowship and Community
Before the Family Loses the House
The meeting did not begin with money. Estimated read time: ~5 minutes. The meeting did not begin with money. That was important. It began with a photograph. A black-and-white picture of Josephine Carter standing on the front steps of her Los Angeles home in 1974, one hand on the railing, the other holding the keys she had worked nearly 20 years to earn. Her granddaughter, Simone, found the photo in a shoebox after Sunday dinner. Everyone gathered around. There was … [Read more...] about Before the Family Loses the House
The Paperwork Problem Taking Black Family Land
It felt like Sunday dinner. Estimated read time: ~5 minutes. It felt like Sunday dinner. It felt like cousins running through the hallway. It felt like folding chairs pulled from the garage when too many people showed up. It felt like sweet potato pie cooling on the counter, church fans tucked in a drawer, old photographs on the wall, and a grandmother who could tell you which child cracked which tile in the kitchen. For the Williams family, the house in Los Angeles was not … [Read more...] about The Paperwork Problem Taking Black Family Land
The One-Page Mistake That Can Threaten Black Generational Wealth
The family found the trust first. Estimated read time: ~5 minutes. The family found the trust first. That was what made everyone breathe. It was exactly where Daniel said it would be: inside the old wooden desk in the den, in a thick binder labeled Estate Plan. Living trust. Will. Power of attorney. Healthcare directive. Property documents. Daniel had done what parents are told to do. He had planned. His wife, Angela, sat on the couch while his daughter Mia … [Read more...] about The One-Page Mistake That Can Threaten Black Generational Wealth
The Estate Plan Was Clear. The Family Was Not.
The documents were not the problem. Estimated read time: ~5 minutes. The documents were not the problem. That was what made the fight so hard to understand. Marjorie had a trust. She had a will. She had powers of attorney. She had a healthcare directive. She had written down the name of her attorney, the location of the bank accounts, and the password to the old desktop computer in the den. Her children found everything exactly where she said it would be. A black … [Read more...] about The Estate Plan Was Clear. The Family Was Not.
The Talk Families Avoid Until It Is Too Late
For years, Gloria’s children knew there was a folder. Estimated read time: ~5 minutes. They did not know what was in it. They knew it was red. They knew it sat in the bottom drawer of the cabinet in the den, beneath old insurance papers, tax returns, and a stack of greeting cards their mother kept because she “might need them someday.” They knew she had gone to an attorney. They knew she had signed documents. They knew she had “taken care of things.” That phrase gave … [Read more...] about The Talk Families Avoid Until It Is Too Late
The Money The Family Thought They’d Keep
Estimated read time: ~5 minutes. The number on the statement looked larger than anyone expected. That was the first surprise. After their mother, Evelyn, died, her three children sat around the dining room table in the Inglewood home where they had grown up. Denise had brought a folder. Marcus had brought coffee. Patrice had brought nothing because she said she could not think clearly yet. Their mother had left a house, an investment account, a retirement account, and the small … [Read more...] about The Money The Family Thought They’d Keep
What Will Your Children Actually Keep?
Estimated read time: ~5 minutes. The inheritance looked simple on paper. That was the problem. When Thomas died, his three children gathered at the old dining room table in the Inglewood home where they had grown up. The trust binder was there. The bank statements were there. The family photos were still on the wall, including the one from Easter 1998 where everyone looked uncomfortable in clothes their mother had chosen. Thomas had done what many parents hope to do. He left the … [Read more...] about What Will Your Children Actually Keep?
The Business Dad Built
Estimated read time: ~5 minutes. The sign above the shop still had his name on it. That was the first thing Marcus noticed. Not the invoices on the desk. Not the delivery truck parked crooked in the back lot. Not the stack of payroll forms waiting beside the computer. The sign. Robertson & Sons. His father had painted the first version by hand in 1986. Back then, there were no sons working in the business. Just James Robertson, a borrowed truck, a small industrial … [Read more...] about The Business Dad Built
