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Thursday, September 5, 2013

Dear Prudie: My Father Won't Make a Will

Slate Magazine
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Dear Prudence
No Will, No Way
My father refuses to plan his estate. Is he just being selfish?
By Emily Yoffe
Posted Thursday, Sep 05, 2013, at 10:15 AM ET

Emily Yoffe, aka Dear Prudence, is on Washingtonpost.com weekly to chat live with readers. An edited transcript of the chat is below. (Sign up here to get Dear Prudence delivered to your inbox each week. Read Prudie's Slate columns here. Send questions to Prudence at prudence@slate.com.)

See Emily live! She will be talking to Slate editor David Plotz and taking questions at Sixth and I in Washington, D.C. on Sept. 11. For tickets and more information, click here.

Dear Prudence,
My father is 65 years old and in outstanding health. He has a small real estate empire of 30 or so multifamily residential homes. He built the business himself and runs it as a one-man band. Toilet clogged? My old man fixes it so as not to have to pay someone else. The legal structure of my dad's business is a jumble. Some homes are owned by him and my stepmother, others are held by an LLC he formed. He also has unwritten deals with half a dozen friends and family members. My mother lives in another state in a house owned by my father and possibly his wife. My father is a generous and caring person, but is disorganized and his "office" is a bunch of piles of paper in his basement. Recently, my sister and brother-in-law quit their jobs and sold their house to relocate with their two small children to work in and maybe take over this business. My father has ...

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