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 France.
Thomas Jefferson spent the rest of his life burdened by debt. To relieve some of his debt, he asked his eldest grandson, Jefferson Randolph, to create a lottery to fund the liabilities. Then Jefferson applied to the state legislature to grant him a lottery to pay off his debts, but even though they agreed, and tickets were issued, the lottery was never conducted. Unfortunately, after Jefferson’s death, his Monticello estate, and all of his slaves were sold to pay of his debt.
Thomas Jefferson was a legendary president, but even legendary presidents can fail to plan properly. If you want to minimize the consequences of failing to properly plan your estate, then contact The Mendel Law Firm, L.P. for a free initial consultation on estate planning, trust planning, and/or probate issues.