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1
Navigate Anger Amid the Death of a Loved One
2
Inflation-Proofing Your Estate for the Future
Resolute Practices: Active Listening
3
The Day the Fraggles Reached the USSR
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A Hollywood Actor’s Thoughtful Final Act
THE PLAN BEHIND THE LEGEND Estate Lessons From Paul Newman
Paul Newman was more than a movie legend. He built race cars, funded hospitals, and turned salad dressing into one of the most successful charitable brands in the world. But one of his quietest accomplishments happened away from the spotlight. When he planned his estate, he handled it with the same thought and discipline he brought to everything else. When he passed away in 2008, Newman’s estate was worth hundreds of millions of dollars. That alone isn’t what makes his plan remarkable. What stands out is how carefully he put it together. He had a detailed will, a private trust to keep his finances out of the public
foundation that still bears his name. Newman’s image, his company, and the earnings that continue to fund projects across the country also went to the foundation. He also took care of the practical side of things. By setting up the right trusts, he delayed certain taxes, ensuring his wife would be cared for before the government took its share. Newman even included provisions for various asset types, including his race cars and airplanes. He directed the proceeds from those to his residuary estate. Ultimately, his plan was practical, generous, and designed to last.
eye, and two trusted people ready to manage the details. Newman even included a clause discouraging legal disputes because he knew arguments over money can divide even the closest of families. His decisions reflected what mattered in his life. Newman’s wife, Joanne Woodward, kept their home and personal belongings. His Oscars, Golden Globes, and other awards went to the
Most of us don’t have a Hollywood fortune to divide, but we still face the same questions. Whom do we trust to handle things when we’re gone? What should continue to work long after we stop? Newman showed that good planning has less to do with money and more to do with making things clear for the people you care about. And his name still funds good work, which is a legacy worth having.
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