Time magazine was mocked in 2006 for its choice of “You” as Person of the Year. But fast-forward to 2024, and we have terms such as “main character syndrome,” “brand storytelling,” and “customer journey.” Read more about how Advisors can tap into this human propensity to organize the world into narratives that explain, guide, and give meaning to our lives by using a story-centric approach to estate planning.

Although the family in the 2011 movie The Descendants is fictional, the story is inspired by history and actual law. To this day, large pieces of land are still held in Hawaii by so-called Ali’i trusts, set up more than a century ago to hold the assets of Hawaiian royalty. Read more to learn a few of the basic lessons from the movie that you can reference when discussing financial planning and trust administration issues with your clients.

Lessons in Estate Planning from Rain Man

Rain Man, starring Tom Cruise and Dustin Hoffman, was a critical and commercial success, winning four Academy Awards and two Golden Globes while becoming the highest-grossing film of 1988. Read more about the lessons learned from the film, including how an estate plan can affect family dynamics—and the difficult decisions parents face when planning for children who have very different personalities and needs.

This information is for educational purposes only and cannot be considered legal advice, nor does the receipt of this newsletter create an attorney-client relationship.