For many people an estate plan includes much more than a simple Last Will and Testament. Although there are numerous estate planning tools and documents that can be incorporated into an estate plan, some are used more than others. Trusts, for example, are a common estate planning addition. Once created though, what happens if you want to change something in the trust? For starters, not all trusts can be changed. Irrevocable trusts cannot be changed absent the intervention of a court, for … [Read more...] about Amending a Trust
Texas History – Do You Know Who Was the First Woman Elected Mayor of Dallas?
Annette Strauss became Dallas’s first elected woman mayor. She was born in Houston, Texas, graduated from the University of Texas at Austin in 1944. Strauss served as mayor from 1987 to 1991. She was the second female mayor - Adlene Harrison was acting mayor of Dallas in 1976, succeeding Wes Wise when he resigned to run for the U.S. Congress. She served until the election of a new mayor, Robert Folsom, at the end of the year. … [Read more...] about Texas History – Do You Know Who Was the First Woman Elected Mayor of Dallas?
Thought for the Day:
The best and most beautiful things in the world cannot be seen or even touched - they must be felt with the heart. Helen Keller … [Read more...] about Thought for the Day:
Irrevocable Life Insurance Trusts – Do I Still Need Mine?
Recent changes to the tax laws that went into effect after the passage of the American Taxpayer Relief Act of 2013 have caused many taxpayers to review and modify their existing estate plans. One estate planning tool that many people are wondering what to do with in light of the new laws is the Irrevocable Life Insurance Trust, or ILIT. All estate assets owned by you at the time of your death are potentially taxable. The lifetime exclusion limit allows each taxpayer to exclude assets up to a … [Read more...] about Irrevocable Life Insurance Trusts – Do I Still Need Mine?
Texas History – Do You Know By What Treaty the U.S. Formally Relinquished All Claims to Texas?
The Adams-Onis Treaty of 1819 was a treaty between the United States and Spain that gave Florida to the U.S. and set out a boundary between the U.S. and New Spain (now Mexico). It settled a standing border dispute between the two countries and was considered a triumph of American diplomacy. The latter "settlement" was never accepted by American Southerners in general or Louisianans in particular. They later migrated from Louisiana territory and crossed into Spanish Texas, firm in their belief … [Read more...] about Texas History – Do You Know By What Treaty the U.S. Formally Relinquished All Claims to Texas?
Thought for the Day:
Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible. Francis of Assisi … [Read more...] about Thought for the Day:
Why Your Choice of Executor Is So Important
When you finally sit down to create your estate plan, one of the first decisions you will likely make is choosing someone to be the executor of your Last Will and Testament. People often give this appointment very little thought because they fail to understand how important the position actually is. The executor of your estate is responsible for taking your entire estate through the probate process. Depending on the size and complexity of your estate, the probate process can last months, even … [Read more...] about Why Your Choice of Executor Is So Important
Texas History – Do You Know Who Was the First Woman in Texas to Serve as Governor?
In 1925 Miriam A. Ferguson became the first woman in Texas, and the second woman in the nation, to serve as governor. Her husband James Ferguson served as Governor of Texas from 1915 to 1917. However, he was impeached, convicted, and removed from office during his second term. As part of his conviction he was not allowed to hold state office in Texas again. After her husband’s impeachment and conviction, "Ma" Ferguson ran as a Democrat for the office. Against the odds, Ma Ferguson was elected. … [Read more...] about Texas History – Do You Know Who Was the First Woman in Texas to Serve as Governor?
If You Own Significant Assets in another Country You Might Need an International Will
In the 21st century, travel between countries, whether for business or pleasure, is commonplace. Consequently, the number of people who own property in more than one country has also increased significantly in recent decades. You no longer have to be among the super-rich to own a vacation home in another country, for example. As the world gets smaller, “international” families are also more common, frequently resulting in property owned in two or more countries. As a U.S. citizen, owning … [Read more...] about If You Own Significant Assets in another Country You Might Need an International Will
Thought for the Day:
Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence. Helen Keller … [Read more...] about Thought for the Day:
