American history is full of strange and mostly forgotten facts that we cannot believe to be true when we first hear about them. Yet, they are true. One such fact is that it was a mistake to designate money in a Will to be used to free slaves and appoint Thomas Jefferson as the Executor to carry out the task. That did happen and it was a mistake. Out of all of the founding fathers, Thomas Jefferson was probably the most opposed to slavery. He spoke out against it many times and often wrote … [Read more...] about A Strange Historical Fact

We have told you several different stories about the things that have gone wrong with celebrities' estates when they passed away without having a Will. It is a common theme as most Americans do not have Wills and things tend to go wrong with estates in that situation. However, things do not always go wrong when someone passes away without a Will. Sometimes, things go exceptionally well. For example, Abraham Lincoln did not have a Will when he was assassinated. In today's money, his entire … [Read more...] about Lincoln and the Lack of a Will

We have previously told you a couple of very basic, but important, estate planning tips. We have told you that when you make a new Will, you need to be sure that you destroy any old Wills. We have also told you that you need to make sure that your heirs can easily find your Will. A case in New York highlights why you need to listen to these tips. Elmer H. Bobst was multi-millionaire who passed away over 30 years ago. At the time, his estate was Probated and distributed according to Letters … [Read more...] about Destroy Old Wills

Many times in this space we have told you that when there is money involved in an estate, families will fight over that estate if they have any basis for doing so. This is why you need an estate plan so that your wishes are known. It helps avoid family fights. The fights are often not even about who gets what. Families can fight over other things if you do not have an estate plan. Consider the estate of rapper Nate Dogg who passed away without a Will. Someone still has to administer his estate … [Read more...] about Another Thing Families Can Fight About

Our last post was about what can happen if your college bound child gets into an accident and is incapacitated. We told you that you should get a Health Care Power of Attorney and a General Durable Power of Attorney ahead of time, so that you, or someone else, can handle the child's affairs. That information is worth repeating, but this time we are going to tell you why you might also want to get a Will for your college bound student. No parent wants to think about it, but the truth is that … [Read more...] about Your College Kid’s Junk