Frightening: Wealthy Aging Dad Did Not Do Any Estate Planning

Adult son of a real estate investor began to notice that his father, Wealthy Dad (WD), was slipping. WD was becoming forgetful. He had purchased a lot of real estate in his younger days, and owned eight single family houses in one of the most expensive markets in the U.S. He gradually lost the ability to manage his rental homes and other investments. Adult son (AS) who was a successful professional, began to feel a sense of panic. Those houses were falling apart, he knew, but he did not realize how bad things had gotten. AS knew that the burden could fall heavily on him as WD’s health declined. AS didn’t even know where WD kept the records of his rental properties, much less how to track whether they were rented and any income from them.

A mental health professional’s help