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What if Your Children Live Far Away?

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Many parents want their children to be the people to handle their estates when the parents pass away. Traditionally, Wills are written that name a child as an Executor. However, this can be problematic in modern American society because we are a mobile people. It is very common for parents and children to live in far away states. The problem is that the child Executor who lives in a different state than the one the parent resided in when he or she passed away is that the child might have to … [Read more...] about What if Your Children Live Far Away?

Famous Estates – Legacy Champ or Chump?

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Joseph P. Kennedy, Sr. (1888-1969) - Businessman & Ambassador Joseph Patrick "Joe" Kennedy was a prominent American businessman and investor. Born to a political family in East Boston, Kennedy was educated at Boston Latin School and Harvard University. He embarked on a career in finance, rising to be president of a bank by the age of 25. He was a successful investor during the Roaring Twenties, making a fortune as a stock market and commodities investor. In fact, he was able to manipulate … [Read more...] about Famous Estates – Legacy Champ or Chump?

Another Reason to Update Your Estate Plan

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If you are a regular reader of this blog, then you might be tired of hearing that you need to change your estate plan when your life circumstances change. We have talked about it over and over again. The reason that it has to be talked about so often is that so many people do not listen. Another example of this has been in the news lately. Like most examples it is a sad story of an estate gone awry that did not have to. Sir Peter Ustinov was a fabulous actor and director. He died a … [Read more...] about Another Reason to Update Your Estate Plan

Texas History – Do You Know Where and When the First Suspension Bridge Was Built in Texas?

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The first suspension bridge in Texas was built in 1870 across the Brazos River in Waco. This was thirteen years before the Brooklyn Bridge in New York was built. At the time it was the only span across the Brazos. … [Read more...] about Texas History – Do You Know Where and When the First Suspension Bridge Was Built in Texas?

Famous Estates – Legacy Champ or Chump?

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Thomas Jefferson ( 1743-1826) - 3RD President of the United States, 1801-1809 Thomas Jefferson was one of America’s Founding Fathers and the principal author of the Declaration of Independence. At the beginning of the American Revolution, he served in the Continental Congress, representing Virginia, and then served as a wartime Governor of Virginia (1779-1781). Just after the war ended, Jefferson served as a diplomat, stationed in Paris. In May 1785, he became the United States Minister to … [Read more...] about Famous Estates – Legacy Champ or Chump?

What if an Heir Predeceases You?

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If the person named in your Will as the person to receive the majority of your estate has you and your mother murdered, would you want that person's heirs to receive the inheritance instead? It sounds like an odd question to ask, but there is a point to it and it is a real life issue surrounding the estate of Ben Novack, Jr. Novack's wife was convicted of having him and his mother killed in horrific fashion. She was also the person named in his Will as the primary heir. Ordinarily, a person … [Read more...] about What if an Heir Predeceases You?

Texas History – What Kind of Dome Was Instrumental in Changing the Economy of Texas?

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Created eons ago, the geological formations called salt domes, found particularly along the Gulf Coast plains, were the basis for Texas’ petroleum industry. The domes trapped and housed the oil and natural gas that gave Texas some of its most productive fields and were responsible for driving speculators and drillers into oil exploration throughout Texas. One such salt dome produced the fabulous Lucas gusher known as Spindletop, which came in near Beaumont on January 10, 1901. The Spindletop … [Read more...] about Texas History – What Kind of Dome Was Instrumental in Changing the Economy of Texas?