Franklin D. Roosevelt (1882-1945) – 32ND President of the United States, 1933-1945
Franklin D. Roosevelt, also known by his initials, FDR, was a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic depression and total war. The only American president elected to more than two terms, he facilitated a durable coalition that realigned American politics for decades. With the bouncy popular song “Happy Days Are Here Again” as his campaign theme, FDR defeated incumbent Republican Herbert Hoover in November 1932, at the depth of the Great Depression. Energized by his personal victory over paralytic illness, FDR’s unfailing optimism and activism contributed to a renewal of the national spirit. He worked closely with Winston Churchill and Joseph Stalin in leading the Allies against Germany and Japan in World War II, but died just as victory was in sight. Upon his death, however, look what happened to his estate:
30% Shrinkage of the Estate
$1,922,000 Gross Estate
$ 210,000 Less Settlement Costs
$ 346,000 Death Taxes
$ 556,000 Total Costs
$1,366,000 Final Estate Value
Roosevelt might have been the President of the United States, but even Presidents can fail to properly plan. You decide. Is a 30% loss of the Estate good planning by someone with a vast array of professionals available to assist him?
If you want to minimize the likelihood of shrinkage to your estate, then contact The Mendel Law Firm, L.P., for a free initial consultation on estate planning, trust planning, and/or probate issues.