Hundreds gathered in far north Scottsdale last week to witness the auctioning of Greasewood Flat’s last remnants. With it came the virtual nail in the coffin of another Western landmark in the Valley of the Sun.
The landmark’s founder, George “Doc” Cavalliere, died in 2009 at the age of 92, and the family who owns the restaurant had to sell the property to pay estate taxes and other expenses.
“It truly saddens me to see that due to a lack of planning prior to his death, his grandchildren have now been forced to sell their grandfather’s iconic business to pay for significant estate taxes,” said Laura A. Bianchi, chairman of Rose Law Group’s Estate Planning, Business and Asset Protection Department, who has followed the issues that have plagued the Cavalliere estate.
“What is even more heartbreaking is the fact all of this could have easily been avoided with a proper estate and business succession plan, “ Bianchi said, “and may have been able to steer clear of this situation, and saved a landmark.
She said many people fail to fully comprehend the effect failing to establish a plan to administer their personal and business estate after their passing. “It is a costly and time consuming disaster which their loved ones are forced to clean up, often with a heartbreaking outcome.”
One of the greatest gifts people can leave for their loved ones is a thoroughly effective estate and business succession plan that meets all their needs and those left behind.
Bianchi assists estate and business succession planning clients in a number of ways including minimizing taxes and protecting future generations. She can be reached at lbianchi@roselawgroup.com.
