William Holden (1918-1981) - Actor William Holden was one of the most popular and well known movie stars of all time. His career took off in 1950 when Billy Wilder tapped him to star in Sunset Boulevard, for which Holden earned his first Best Actor Oscar nomination. Following this breakthrough film, he starred in Stalag 17, which he won the Academy Award for Best Actor. In 1974, he starred in the critically acclaimed disaster film The Towering Inferno, which was one of the highest grossing … [Read more...] about Famous Estates – Legacy Champ or Chump?
Thought for the Day:
It takes less work to succeed than fail. W. Clement Stone … [Read more...] about Thought for the Day:
New IRS Regulations on Charitable Bequests
New IRS regulations make leaving money to charity in a Will or Trust a little bit more complicated. The Will or Trust now needs to detail the source of the money that is to be used for charitable purposes. To qualify as non-taxable, that income source must have an independent economic effect, which basically means that the contribution cannot merely be to avoid paying income tax on the money. The reason for the new rule is because of Charitable Lead Trusts. These are instruments that people … [Read more...] about New IRS Regulations on Charitable Bequests
Texas History – How Long did the U.S. – Mexican War Last?
Twenty (20) months. The U.S. - Mexican War lasted from May 13, 1846, until the signing of the Treaty of Guadalupe Hidalgo on February 2, 1848. … [Read more...] about Texas History – How Long did the U.S. – Mexican War Last?
Famous Estates – Legacy Champ or Chump?
Ryan White (1971-1990) - Advocate for AIDS Research & Public Education Ryan White courageously fought AIDS-related discrimination when he was denied access to school after he was diagnosed with HIV contracted through a blood transfusion. He went on to become the national spokesman for AIDS research and public education. Congress passed AIDS legislation called the Ryan White Care Act, which sought funding to improve availability of care for low income, uninsured and under-insured victims … [Read more...] about Famous Estates – Legacy Champ or Chump?
Thought for the Day:
What we see depends mainly on what we look for. John Lubbock … [Read more...] about Thought for the Day:
What We Can Learn from James Brown’s Estate Battle
No matter your age, you likely know the name “James Brown”. Known as the Godfather of Soul, Brown died back in 2006, yet his estate was just recently settled by the South Carolina Supreme Court after a six year long battle. As is often the case, the rest of us can learn something from the probate litigation that followed Browns’ death. Brown left behind a sizeable estate—the majority of which was left to a charity according to his estate plan. Brown established a charitable trust to help poor … [Read more...] about What We Can Learn from James Brown’s Estate Battle
Gifting and Medicaid
If gifting is part of your estate plan, then you need to make sure that you have also considered how those gifts might influence your ability to qualify for Medicaid. It will depend on your medical situation when you gave the gift, who you gave the gift to and when you made the gift. The general rule is that transfers made 5 years before you need Medicaid do not disqualify you. However, transfers made after that do. An exception often exists for charitable gifts. Other gifts often need to be … [Read more...] about Gifting and Medicaid
Texas History – What Foreign Power was Against the Annexation of Texas?
Great Britain opposed it and even contemplated force to prevent it. Britain did not want to add Texas to the British Empire, but they wanted to prevent the westward expansion of the United States to reap commercial advantages of Texas trade. Britain’s policy toward Texas so alarmed Americans that the annexation was pushed through, and completed on December 29, 1845. … [Read more...] about Texas History – What Foreign Power was Against the Annexation of Texas?
Famous Estates – Legacy Champ or Chump?
Cole Porter (1893-1964) - Composer & Songwriter Cole Porter was born to a wealthy family in Indiana, and he defied the wishes of his grandfather when he took up music. Classically trained, he was drawn towards musical theater. After a slow start he began to achieve success in the 1920s. By the 1930s, Porter was one of the major songwriters for the Broadway musical stage. Unlike most successful Broadway composers, Porter wrote both the lyrics and the music for his songs. After a serious … [Read more...] about Famous Estates – Legacy Champ or Chump?
