George H.W. Bush (1924-2018) 41st President of the United States, 1989-1993 Political Life In the words of President Harry Truman and President Ronald Reagan, "There is no limit to the amount of good you can do if you don't care who gets the credit.” President George H.W. Bush embodied these words. In his early life, H.W. became one of the youngest aviators in the Navy, graduated from Yale University, and reached millionaire status all before the age of 40. As the President of the … [Read more...] about Famous Estates-Champ or Chump? George H.W. Bush
If you have been reading our blog, then you know that you need a Will not matter how much money you have. Rich or poor, it is better for your estate to have a Will. Do you need other estate planning documents if you do not have a lot of money? Some people assume that if they do not have a lot of wealth that they can not take advantage of more advanced estate planning tools. That assumption is false. A Revocable Living Trust can be used by anyone. You do not need to have a fortune to fund a … [Read more...] about Everyone Can Have a Trust
When someone asks you to be the Executor of his or her Will, you usually agree to act in that capacity without thinking it through carefully. It is one of those things that people naturally say yes to. However, when it comes to to actually carrying out your duties as an Executor, you will face problems if you have not thought about what you need to do and prepare for it. Most of the time, Executors need to go to Probate to carry out their duties. This requires that you follow formal and set … [Read more...] about Planning to be an Executor
It should be easy to see why you need to change your estate plan after a divorce. Most married people's spouses play important roles in their estate plans, and a large portion of the estate is usually left to the spouse. After divorcing that spouse, most people obviously want to change their estate plans to exclude the ex-spouse or significantly reduce his or her inheritance. However, many people do not think about changing their estate plans during their divorce. Getting a divorce in the … [Read more...] about Getting Divorced?
How many things do you now do digitally that you used to do otherwise? If you think about it, probably a lot of things. Many of us no longer physically balance a checkbook or keep written bank statements. All of that information is online at our bank's website. We no longer pay our cable bill by writing a check and sending it in. We have automatic payments set up. This new way of handling our finances digitally creates new problems for your estate plan and how your assets will be handled after … [Read more...] about Your Digital Assets
William Holden (1918-1981) - Actor William Holden was one of the most popular and well known movie stars of all time. His career took off in 1950 when Billy Wilder tapped him to star in Sunset Boulevard, for which Holden earned his first Best Actor Oscar nomination. Following this breakthrough film, he starred in Stalag 17, which he won the Academy Award for Best Actor. In 1974, he starred in the critically acclaimed disaster film The Towering Inferno, which was one of the highest grossing … [Read more...] about Famous Estates – Legacy Champ or Chump?
Estate planning attorneys everywhere are trying to let everyone know that the lifetime estate tax exemption of $5.12 million is scheduled to decrease at the beginning of 2013. Under normal circumstances, attorneys would be urging you to contact your congressmen and congresswomen to ask them to vote to keep the current limit. You can try that. However, the reality is that in the current political climate it is unlikely to have any affect, especially in an election year. This time, the wisest … [Read more...] about Changes to the Estate Tax