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Estate Planning is More About How Than Who

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People have a misconception about estate planning. We have probably even reinforced it. The misconception is that estate planning is all about deciding who gets your property after you pass away. Of course, that's a part of estate planning, but it is not the most important part. Estate planning is more about how the person you want to get your property actually gets it. The how is far more important than the who. Do you give someone money outright? Do you want to use a Trust? What about the … [Read more...] about Estate Planning is More About How Than Who

Texas History – Who Tried to Make the Cactus Flower the State Flower of Texas?

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A one-time powerful Texas politico nicknamed Cactus Jack tried to make his favorite flower, the cactus flower, the Texas state flower. The Colonial Dames of Texas spoke for the bluebonnet flower, including presenting an oil painting of the flower to the legislators, many of whom had never seen a bluebonnet, and got the bluebonnet designated as the state flower. John Nance (Cactus Jack) Garner, then vice president, lost his bid for the cactus. … [Read more...] about Texas History – Who Tried to Make the Cactus Flower the State Flower of Texas?

There are Limits to Conditions

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We often like to talk about how you can use an estate plan creatively. An estate plan is your way to leave your assets to other people and you can be creative about setting conditions on how those assets are used. This can be a good thing. However, it can be a bad thing and we wanted to take some time to explain that there are limits to the conditions that you set. For example, let's say that you want to leave something to a daughter. You could condition that on a wide-variety of things. You … [Read more...] about There are Limits to Conditions

Texas History – What is the Oldest Public Institution of Higher Learning in the State of Texas?

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Funding by the federal government through the Morrill Land Grant Act of 1862 to establish agricultural colleges fostered the Agricultural and Mechanical College of Texas, now Texas A&M University, at College Station. Classes began in 1876. At the same time, the state opened a vocational agricultural school for African Americans at Prairie View (Alta Vista Agricultural College), but the school failed for lack of students. In 1879, the legislature changed the purpose of the school, now Prairie … [Read more...] about Texas History – What is the Oldest Public Institution of Higher Learning in the State of Texas?

Famous Estates – Legacy Champ or Chump?

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Peter Cooper (1791-1883) - Industrialist, Inventor, Philanthropist Peter Cooper was an American industrialist who developed a cloth-shearing machine, and he built the first steam locomotive in the United States. In 1812, Cooper purchased a glue factory where he developed new ways to produce glues and cements, gelatin, and other products, and became New York City’s premiere provider to tanners, manufacturers of paints and dry-good merchants. He had served as head of the Public School Society, a … [Read more...] about Famous Estates – Legacy Champ or Chump?

Jim Morrison’s Family Was Left With Nothing

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Estate planning is not always as simple as deciding who you want to inherit your property. Sometimes, you also have to consider what will happen to the property if the person you are leaving it to passes away shortly after he or she receives the property. The question is whether you would want those people to have your property. For example, the singer Jim Morrison left behind a short Will that stated that his girlfriend would receive all of his property if she survived him by 90 days. She … [Read more...] about Jim Morrison’s Family Was Left With Nothing