The total area of Texas is 268,581 square miles. In terms of land mass, Texas is larger than five (5) contiguous nations in Western Europe, and larger than thirteen (13) contiguous U.S. states. Texas shares a common boundary with four (4) U.S. States (New Mexico, Oklahoma, Arkansas, and Louisiana), and four (4) Mexican states ( Temaulipas, Nuevo Leon, Coahuila, and Chihuahua). … [Read more...] about Texas History – Do You Know How Big Texas Is?
Famous Estates – Legacy Champ or Chump
Harry S. Truman (1884-1972) -- 33RD President of the United States, 1945-1953. 37% Shrinkage of the Estate $747,648 Gross Estate $ 90,986 Less Settlement Costs $188,666 Less Death Taxes $279,652 Total Costs $467,996 Final Estate Value Truman might have been the President of the United States, but even Presidents can fail to properly plan. You decide. Is a 37% loss of the Estate good planning by someone with a vast array of professionals available to assist him? If you … [Read more...] about Famous Estates – Legacy Champ or Chump
Thought for the Day:
Anytime we say “yes” to something, it occupies space in our future. That is precious territory and should be mostly occupied by very outstanding opportunities, only those worthy of all out massive action and implementation. Otherwise, it is just clutter, potholes, things that might be nice to do but in reality block a desired future. Do less. Accomplish more. Larry Parman … [Read more...] about Thought for the Day:
Planning for Long Term Care
Long term care in a nursing home can be very expensive. If you do not plan properly, you can lose most of your assets before Medicaid will start paying for your care. Because you do not know whether or not you will need it, planning for the possibility of long term care should be a part of your overall estate plan. You have several options to plan for long term care. In Texas, you even have a unique option that is not available in most other states. In Texas, you can use a particular type of … [Read more...] about Planning for Long Term Care
Texas History – Do You Know the Six Flags of Texas?
Texas is the only state in the nation to have been under six separate flags. The flag of Spain was the first to fly over Texas from 1519 to 1821, when the Spanish explorers came to Texas. The French concurrently flew their flag over Texas from 1685 until 1690 starting with the French explorer Robert La Salle. The flag of Mexico flew over Texas beginning in 1821 when Mexico gained independence from Spain and the region of Texas became part of Mexico. On April 21, 1836, Texas won independence from … [Read more...] about Texas History – Do You Know the Six Flags of Texas?
What to Do After Winning the Big Lottery Jackpot
You may have heard that a recent lottery made millionaires out of some people. Because the jackpot was a record $64o million it was actually difficult to avoid news about it. You may have dreamed about what you would do with the money if you ever won that much in the lottery. But, have you ever considered what the first thing you should do is? The first thing you should do is to speak to an attorney experienced in financial planning and estate planning. The state lottery agencies like to make a … [Read more...] about What to Do After Winning the Big Lottery Jackpot
Adult Adoption is Not Always a Good Option
Gay and lesbian couples need to take special care when planning their estates. The law is not always friendly in making sure that your assets go to your partner when you pass away. In some cases, the assets might even go to an estranged family member who is not supportive of your relationship. Some gay and lesbian couples have attempted to get around the legal blockades with adult adoptions. The wealthier partner will adopt the other partner making the other partner an automatic heir under … [Read more...] about Adult Adoption is Not Always a Good Option
Do Not Use Your Will for Funeral Instructions
A written Will disposes of your personal and real property to your heirs and beneficiaries. You should not use your Will to give others information about your funeral wishes or instructions. Because your heirs or executor may not locate your Will for several weeks after you die, you should not use it to leave your funeral instructions. Instead, you should consider using last instructions or another type of separate written document to include your funeral or burial wishes. You should also … [Read more...] about Do Not Use Your Will for Funeral Instructions
Elective and Forced Share Laws Protect Spousal Disinheritance
Because most states’ probate laws prohibit spouses from disinheriting one another, how are famous celebrities able to do just that? Generally, they have a team of estate planning and domestic relations attorneys helping them protect their assets by using contracts entered into before marriage. These nuptial agreements are known as premarital or prenuptial agreements, and they may allow you to protect your property in case of divorce. However, state laws differ as to their validity. Typically, … [Read more...] about Elective and Forced Share Laws Protect Spousal Disinheritance
Don’t Play the Lottery With Your Children
If you have minor children, the odds of something happening to you while they are still young are not quite as high as the odds of winning the big Mega Lottery, but they are still pretty high. Unlike the small cost of a lottery ticket, however, the cost of not having an estate plan for parents of minor children is astronomical. You won't pay the costs; your children will. Also unlike the lottery, they will only pay the costs if their number hits. When parents do not make plans for who will … [Read more...] about Don’t Play the Lottery With Your Children
