The Rich Die Richer and You Can Too [Paperback]

William D. Zabel (Author)

Book Description

Publication Date: March 1996

Praise for The Rich Die Richer and You Can Too "As a satisfied client I recommend that you read Bill Zabel’s book because it has useful tax advice no matter what your net worth may be." —George Soros "For most of us, the subject of estate planning has a number of things working against it: it’s complicated, unexciting, and even off-putting (‘I can’t take it with me and I’d rather not go’). Yet this is a subject of huge importance and potential for anyone who has worked hard and has something to show for his or her effort. Kudos, then, for Bill Zabel’s trenchant, readable, and relevant book." — Irvine O. Hockaday, Jr. President and CEO, Hallmark Cards, Inc. "Bill Zabel has managed to turn his how-to on writing a will into a crackling book about the wills and estates of celebrities such as Picasso, Doris Duke, Jackie Kennedy, Pamela Harriman, and Howard Hughes! Here’s a book you can’t put down because it’s so much fun … and you learn something important at the same time. What more could anyone want?" —Lesley Stahl " This is an eminently practical guide to questions that are enormously important — for individuals, their families, and the causes that they care about. Wise planning should be seen as an inescapable responsibility, not as an option. As Mr. Zabel’s witty and well-written book makes clear, confronting these life-and-death issues with sophistication as well as compassion can also be highly satisfying." —William G. Bowen, President, The Andrew W. Mellon Foundation; former President, Princeton University "Bill Zabel is brilliant, ingenious, funny, and humane. This valuable book—which is so much like its author—will entertain and benefit all who read it." —S. Daniel Abraham, founder, Slim-Fast Foods; President and CEO, Thompson Medical Company, Inc.

Editorial Reviews

From Publishers Weekly

Numbering among his clients Doris Duke and some Rockefeller and Chrysler heirs, New York City lawyer and estate-planner Zabel here explains tax-avoiding (not evading) measures available to the very rich in all the technical complexity of a modern democratic society's financial legalities-including certain confidential notions the IRS "need not be troubled by." He deals plainly with common wills, trusts and annuities, and expertly with more sophisticated maneuvers like intrafamily gift deductions, "defective grantor trusts" and "foreign asset protection" in the Isle of Man-along with such devices as adopting one's mistress or companion. Interesting anecdotes abound: family havoc wrought by the intestate Abraham Lincoln and Pablo Picasso, and nuggets supporting the value of precise language from Shakespeare, Donne, Wilde, Shaw and more. Fans of Jackie O. will find a complete breakdown of her sensible estate plan. So if you expect to die rich... Author tour.
Copyright 1995 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

From Library Journal

Zabel is a trust and estates attorney whose clients have included such luminaries as Doris Duke and members of the Rockefeller and Chrysler clans. Although he claims that his advice applies to all income brackets, most of it will more likely meet with success if followed by rich, sophisticated individuals with competent legal help. Average readers concerned about having enough to retire on will enjoy this book chiefly for its tales of the estate problems of the rich and famous. They will also derive a vicarious thrill from its coverage of topics like providing secretly for a mistress. While there is sound advice for the less-than-wealthy, the book does not offer the technical prerequisites that would enable most readers to do their own estate planning. An appendix gives forms and legal information on living wills and powers of attorney for healthcare. Recommended where interest warrants.
Sue McKimm, Cuyahoga Cty. P.L., Parma, Ohio
Copyright 1995 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

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Product Details

• Paperback: 320 pages
• Publisher: Wiley; 1 edition (March 1996)
• Language: English
• ISBN-10: 0471155322
• ISBN-13: 978-0471155324
• Product Dimensions: 9 x 6 x 0.8 inches
• Shipping Weight: 14.7 ounces
• Average Customer Review: 4.8 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #1,303,356 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

5.0 out of 5 stars Fills in the ??? on wills and trusts, August 26, 2007

By 

T. M. Sowell (Dallas, Texas) - See all my reviews
(REAL NAME)   

This review is from: The Rich Die Richer and You Can Too (Paperback)

Author William Zabel uses both his expert knowledge and some very appropriate New Yorker cartoons to explain how various estate planning programs work. Even though it was written in 1996 and some tax amounts/pecentages have changed since then, the basic fundamentals are the same as before.

5.0 out of 5 stars Entertaining and Enlightening, November 18, 2010

By 

jane corwin - See all my reviews

This review is from: The Rich Die Richer and You Can Too (Paperback)

With so many books out there on estate planning topics, Bill Zabel's book really stands out in the crowd. Why? Because it is a great story. Bill teaches estate planning by telling stories that illustrate his point. Because Bill's client base is so extensive and interesting, his stories are unparalleled. I find myself going back to the book again and again because it is a fun way to reinforce learning.

5.0 out of 5 stars Essential Reading on Estate Planning, February 10, 2009

By 

Norman "Norman R. Solberg" (Osaka, Japan) - See all my reviews
(REAL NAME)   

This review is from: The Rich Die Richer and You Can Too (Paperback)

I recently advised another close acquaintance on a prenuptial agreement and durable power of attorney with international implications. As a generalist lawyer, even though I am a former company general counsel, I do considerable work in this field, having had deep exposure throughout my career to high net worth family and estate matters. Nonetheless, to put it all in perspective, I often turn to my copy of Bill Zabel's excellent book, and I reread parts to stir my juices and stimulate ideas.

That perspective is where this book is of unparalleled help. It also tells many great stories. Bill's book is not only an account of his work for the rich and famous on their personal estates, but it is also a thorough explanation of the practical, social and legal issues that are involved for anyone who must consider leaving assets to others in a responsible way. A simple will from the Internet won't achieve that. There are surely plenty of stories here about those who did it wrong, including Rockefellers, Dukes, Morgans, etc. There are even some forms of clauses and agreements here as examples of good approaches, including that of Jackie Kennedy Onassis.

Sadly, this book is no longer in print, but fortunately Amazon can still get you copies. It is slightly dated as to tax rules and recent developments, and a new edition would be helpful, but Bill has correctly noted that law is a changing area and that one must always check for the new. That is pretty easy these days because of the multitude of resources. Of course, one should always have a lawyer to assure that you plan effectively and haven't left out critical factors. Otherwise, you can never be sure you did it right.

One other thing. I have never worked with Bill Zabel, but his client list clearly speaks to his quality and integrity. I always expected this, as I went to college with two of his partners, who are not only extremely bright persons and superb lawyers, but from all I know, have all the finest ethical and public service impulses one could want.