Estate planning decisions can be difficult to make, particularly if you have a potential heir whom you feel does not deserve to be included, or who will squander the inheritance. If you have a grandchild (or child) who falls into this category, making the decision to cut him or her out of your Last Will and Testament can be heart wrenching. Estate assets typically fall into one of two categories – cash or liquid assets and sentimental or personal assets. Leaving either type to a grandchild can … [Read more...] about Disinheriting a Grandchild in Your Estate Plan
Texas History – Do You Know What San Antonian Served with Neil Armstrong on the First U.S. Space Docking?
On March 16, 1996, command pilot Neil Armstrong and San Antonian David Scott were launched into space on the Gemini 8 mission. The flight was originally scheduled to last three days but terminated early due to a malfunctioning thruster. The crew performed the first successful docking of two vehicles in space and demonstrated great piloting skill in overcoming the thruster problem and bringing the spacecraft to a safe landing. … [Read more...] about Texas History – Do You Know What San Antonian Served with Neil Armstrong on the First U.S. Space Docking?
Thought for the Day:
How wonderful it is that nobody need wait a single moment before starting to improve the world. Anne Frank … [Read more...] about Thought for the Day:
Texas History – Do You Know If the Falls in Wichita Falls are Real?
A flood in 1886 destroyed the original falls on the Wichita River for which the city is named. After nearly 100 years of visitors wanting to visit the non-existent falls, the city built an artificial waterfall beside the river in Lucy Park. The recreated falls are 54 feet high and recirculate at 3,500 gallons per minute. … [Read more...] about Texas History – Do You Know If the Falls in Wichita Falls are Real?
Should I Execute a Durable Power of Attorney?
You are likely familiar with the concept of a power of attorney. You may even have executed one at some point in your life without giving it much thought. A power of attorney can be a very useful, and flexible, addition to an estate plan; however, it is extremely important that you understand the authority conveyed in one, particularly in a durable power of attorney. Despite the name, a power of attorney has nothing to do with your attorney. The two people involved in a power of attorney are … [Read more...] about Should I Execute a Durable Power of Attorney?
Free Report: Parents with Minor Children: Why Estate Planning Is So Important
Since your child cannot inherit directly due to age, someone will need to manage those funds until your child reaches the age of majority, usually age 18. If you want to know with certainty who will control those funds you need to set up a trust. The proceeds will then be directed into the trust and the individual you appoint as trustee will manage the funds and make distributions according to the terms of the trust that you created. Not only does this ensure that someone you choose will manage … [Read more...] about Free Report: Parents with Minor Children: Why Estate Planning Is So Important
Free Report: Duties of an Executor or Administrator in a Texas Probate
The formal probate process begins by filing a petition to probate in the appropriate court. The original Will must be submitted to the court at this time. One purpose of probate is to “prove” the Will. The court must determine that all the formalities of execution were met and the Will was not cancelled out or revoked prior to death. The court must also approve the appointment of the executor or administrator as well as determine if the estate qualifies for independent administration before … [Read more...] about Free Report: Duties of an Executor or Administrator in a Texas Probate
Thought for the Day:
Whatever the mind of man can conceive and believe, it can achieve. Napoleon Hill … [Read more...] about Thought for the Day:
What is a Living Will or Advance Directive?
Throughout your lifetime you enjoy the freedom and the ability to make important, sometimes life-changing, healthcare decisions for yourself. This is something that most of us take for granted in the United States. What happens though if you are one day unable to make those decisions for yourself because of an incapacitating condition? The answer may be to make the decisions ahead of time through the execution of a living will or advance directive. Most people think of “incapacity” only in … [Read more...] about What is a Living Will or Advance Directive?
Texas History – What Texas Governor Spent Only Thirty-Five Cents on His Campaign?
Texas governor Oran Milo Roberts (1879-1883) reported to have spent a sum total of only thirty-five cents on his campaign. After serving as Chief Justice of the Texas Supreme Court for four years, he received a unanimous nomination from the Democratic Convention to run for governor. In 1878, he was elected governor of Texas and served two terms. He was elected on a platform of post-Reconstruction fiscal reform. Both of his gubernatorial terms were marked by a reduction in state expenditures. … [Read more...] about Texas History – What Texas Governor Spent Only Thirty-Five Cents on His Campaign?
