They're not necessarily "dumb." The Kennedys know enough to protect their assets but Joe Farmer shouldn't have to spend a fortune on accountants and lawyers to preserve the assets they've managed to accumulate through a lifetime of hard work.
They may be innocent, but dumb is too strong a term.
Joe Farmer shouldn’t have to spend a fortune on accountants and lawyers to preserve the assets they’ve managed to accumulate through a lifetime of hard work.
Have a friend with family land, he is land rich and cash poor. In assets he is one of the wealthies men in town. Of couse his land was put into farm land and tree growth so he cannot sell any of it without incurring a huge loss. He had to pput the land into a special trust in order to passs it on to his kids. Eventully someone in his line will deed it to the state. That is one of the ways that the govenment is scooping up land. Locking it up and making it expensive to pay taxes on.