Clark Gable (1901-1960) – Actor

Clark Gable was an American film actor most famous for his role as Rhett Butler in the 1939 Civil War epic film Gone with the Wind. His performance earned him his third nomination for the Academy Award for Best Actor. He won an Oscar for It Happened One Night (1934), and was also nominated for Mutiny on the Bounty (1935). Later movies included Run Silent, Run Deep, a submarine war film, and his final film, The Misfits, which paired Gable with Marilyn Monroe, also in her last screen appearance. In 1999, the American Film Institute named Gable seventh among the greatest male stars of all time. He was nicknamed “The King of Hollywood.” Yet, despite his success as an actor, consider what happened to his estate.

28% Shrinkage of the Estate

$2,806,526 Gross Estate

$   377,887 Less Settlement Costs

$   394,924 Death Taxes

$   772,811 Total Costs

$2,033,715 Final Estate Value

Clark Gable was a successful actor, but even famous actors can fail to properly plan. You decide. Is a 28% loss of the Estate good planning by someone with a vast array of professionals available to assist him?

If you want to minimize the likelihood of shrinkage to your estate, then contact The Mendel Law Firm, L.P., for a free initial consultation on estate planning, trust planning, and/or probate issues.

The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.

Sam Walton (1918-1992) – Businessman & Entrepreneur

Sam Walton was the founder of the Wal-Mart and Sam’s Cub retail chains which are located throughout the United States, Mexico, Canada, Argentina, Brazil, South Korea, China, and Puerto Rico. Walton’s management style was popular with employees and some of his basic management concepts are still in use today. After taking the company public in 1970, Walton introduced his “profit-sharing plan,” which was a plan for Wal-Mart employees to improve their income, subject to the profitability of the store. Sam Walton believed that “individuals don’t win, teams do.” Employees at his stores were offered stock options and employee discounts. Upon his death in 1992, Walton was the second richest man in the world, behind Bill Gates.

We honor Mr. Walton because of his vision of what a great company can be, and his concern for his employees. He is clearly a Legacy Champ. If you want to be a Legacy Champ in your own special way, then contact The Mendel Law Firm, L.P., for a free initial consultation on estate planning, trust planning, and/or probate issues.

The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.

Audry Hepburn (1929-1993) – Actress

Audrey Hepburn was an accomplished actress who was one of the few to win an Academy, Emmy, Grammy, and Tony award. Ms. Hepburn devoted most of her later life to UNICEF, an international charity that provides long-term humanitarian and developmental assistance to children and mothers in developing countries. Audrey had a passion for humanitarian work and spent time in Africa, South America, and Asia. In late 1992, she received the Presidential Medal of Freedom in recognition for her work as a UNICEF Goodwill Ambassador.

We honor Ms. Hepburn because she is clearly a Legacy Champ for her philanthropic service. If you want to be a Legacy Champ in your own special way, then contact The Mendel Law Firm, L.P., for a free initial consultation on estate planning, trust planning, and/or probate issues.

The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.

Warren E. Burger (1908 – 1995) – 15^TH Chief Justice of the United States 1969-1986

When Burger was nominated for the Chief Justice position, conservatives in the Nixon Administration expected that the Burger Court would rule markedly differently from the Warren Court. By the early 1970s, however, it became apparent that the Burger Court was not going to reverse rulings of the Warren Court. The U.S. Supreme Court delivered a variety of transformative decisions on abortion, capital punishment, religious establishment, and school desegregation during his tenure. He initiated the National Center for State Courts, the Institute for Court Management, and National Institute of Corrections to provide professional training for judges, clerks, and prison guards. He also initiated the annual State of the Judiciary speech given by the Chief Justice to the American Bar Association. Yet, despite his success as a Chief Justice, consider what happened to his estate.

30% Shrinkage of the Estate

$1,800,000 Gross Estate

$     90,000 Less Settlement Costs

$   457,500 Death Taxes

$   547,500 Total Costs

$1,252,500 Final Estate Value

Warren Burger was a successful Chief Justice, but even a Chief Justice can fail to properly plan. You decide. Is a 30% loss of the Estate good planning by someone with a vast array of professionals available to assist him?

If you want to minimize the likelihood of shrinkage to your estate, then contact The Mendel Law Firm, L.P., for a free initial consultation on estate planning, trust planning, and/or probate issues.

The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.

Alexandra Scott (1996-2004) – Advocate for Pediatric Cancer Research

Alexandra “Alex” Scott was an American cancer patient who, at the age of four (4), started a lemonade stand to raise money for childhood-cancer research. She died of neuroblastoma at the age of eight (8). Since her death, Alex’s Lemonade Stand Foundation has collected more than $50 million to fight pediatric cancers. Each year “Lemonade Days” occurs where people all over the nation set up lemonade stands to raise money for Alex’s foundation. 

We honor Ms. Scott because she is clearly a Legacy Champ. If you want to be a Legacy Champ in your own special way, then contact The Mendel Law Firm, L.P., for a free initial consultation on estate planning, trust planning, and/or probate issues.

The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.

No one ever plans on getting divorced, but it is a fact of life that can happen to anyone. You may think that you have all of your affairs in order after your divorce. However, you should take the time to revisit your estate plan to make sure that it still does what you want it to.

Under most circumstances, any provisions in your Will that leave property to an ex-spouse will be stripped from the Will. Your ex-spouse will not inherit from you. However, that leaves the question open as to who inherits those assets. If your Will has a remainder clause, the most likely scenario is that the assets go to whomever is named in that clause. However, if your Will does not have a remainder clause, then the laws of intestate succession determine who gets the property. In most cases, that means the assets will go to your closest living relative whether that person is named elsewhere in your Will or not. For many people, that means their children will receive the property. However, if you don’t have children, your parents might be next in line. Either way, you do not get to decide who inherits your property.

Instead of leaving your property up to a court to decide, you should visit an estate planning attorney after a divorce. That is the only way for you to have the ultimate say in who inherits the property that you had previously planned on leaving your ex-spouse.

The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.

Sonny Bono (1935-1998) – Recording Artist/Record Producer/Politician

Sonny Bono began his music career at Specialty Records where his song “Things You Do to Me” was recorded by Sam Cooke. He went on to work for the record producer Phil Spector in the early 1960s as a promotion man and percussionist. He received commercial success with his then-wife Cher, as part of the singing duo Sonny and Cher. Bono wrote, arranged, and produced a number of hit records with singles like “I Got You Babe” and “The Beat Goes On.” Bono entered politics after experiencing great frustration with local government bureaucracy in trying to open a restaurant in Palm Springs, California. He served as mayor of Palm Springs for four years. In 1994, Bono was elected to the U.S. House of Representatives. Yet, despite his success, consider what happened to Bono’s estate.

• Died without a valid Will.
• Multiple court actions against the estate.
• Cher entered a claim for back alimony.
• Court action by someone claiming to be his long-lost son.
• Portion of estate lost to legal fees.

Bono was a successful recording artist and performer, but even famous performers and successful politicians can fail to properly plan.

If you want to minimize the consequences of failing to properly plan your estate, then contact The Mendel Law Firm, L.P., for a free initial consultation on estate planning, trust planning, and/or probate issues.

The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.

Most people will reach a point in life where they are no longer able to manage their own financial affairs and make their own health care decisions. By law, your spouse can often step in and make those decisions. But, for members of the LGBT community that is not an option everywhere. Instead LGBT need to have legal documentation if they want their partners to take care of things.

A General Durable Power of Attorney is the appropriate document to state who you want to manage your financial affairs when you are no longer capable of doing so. You don’t have to name your partner. You can name anyone you want. If you do want your partner to handle things, then you should know that your partner does not have a legal right to do so unless you have a General Durable Power of Attorney granting him or her that authority.

The same thing is true with health care decisions. If you want your partner to make the decisions, then you need a Health Care Power of Attorney. Legally, doctors cannot even talk to your partner about your health without the document or a court order.

While everyone should have both documents drawn up, it’s an absolute necessity for LGBT partners.

The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.

George Washington (1732-1799) – 1^ST President of the United States (1789-1797)

George Washington is known for his greatness as a general and as the nation’s first President. He was very disappointed when two different political parties were developing at the end of his first term. Much to the nation’s disappointment Washington did not run for a third term. In addition to serving as our first president, he was a successful leader in the fight for independence from Great Britain, the first person to sign the Constitution, the only President to be elected unanimously by the Electoral College (69 out of 69 votes), appointed the first Cabinet with four (4) members, and appointed the first ten (10) Justices of the Supreme Court.

We honor Mr. Washington because his service to his country clearly makes him a Legacy Champ. If you want to be a Legacy Champ in your own special way, then contact The Mendel Law Firm, L.P., for a free initial consultation on estate planning, trust planning, and/or probate issues.

The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.

Medicaid is a federally funded health insurance program for low-income and elderly individuals. Unlike the Medicare program, the Medicaid program is income-based and reserved for certain groups of individuals with limited means and resources. Medicare is age-based and does not depend on an individual’s income. Medicare is available to U.S. citizens and other legal residents who are at least 65. In Texas, residents with limited means may qualify for Medicaid insurance if disabled, blind or at least 65 years old. If you are under age 65, you must have a certified disability and have limited income and resources or you must be blind and have limited income and possess limited resources.

If you qualify for Medicaid medical insurance, you may be able to receive medical and mental health services for little or no cost. If you need long-term nursing care and home health care, you may be able to receive these services at no cost. Unlike Medicare, the Medicaid program pays for most of these costs, regardless of the length of time.

The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.