Paul Schroder had recently celebrated his sixty-eighth birthday and was beginning to feel his age. While he recognized that there were many good years ahead, he also realized that it was not too early to begin to think seriously about his retirement and his estate. For years, he had been encouraged to make a careful estate plan, but he always put it off, thinking that he would take care of it at a later time. Now was that later time. This case describes a hypothetical investor faced with the challenges of concentrated wealth, intergenerational transfers, special needs, offspring receiving unearned wealth, philanthropic decisions, and providing for post-career life.
