President Abraham Lincoln was killed by John Wilkes Booth on April 15, 1865 at the Ford Theater in Washington, D.C. That was nearly 151 years ago. Who do you suppose now owns President Lincoln's grave at the Oak Ridge Cemetery in Springfield, Illinois? I don't know the answer because state laws vary on the succession of ownership of cemetery plots. In Texas, often when the first person in a family passes away, the spouse will buy a plot for that person, one themself, and one for each of their children. The reasoning is that the entire family can be buried in adjacent plots. Great idea! Here's where … (1 comments)
trusts: Churches Often Get Gypped Out of Their Part of the Inheritance.
- 05/07/13 01:17 PM
Many people name their church as a beneficiary of their estate. The problem is that more often than not, the church never gets its part of the inheritance. In the case of a will, the executor or trustee never lets the church know that it was named as a beneficiary; the other beneficiaries spend all of the assets….that which was left to the church, too. In the case of a testamentary trust, the trust reads that, say, family members can use the income created by the estate for life, then the corpus – the assets themselves – will pass to the church. What … (0 comments)
This picture is of Tommy and Dickie Smothers -- The Smothers Brothers -- from their weekly TV show. Do you remember what Tommy used to lament in sadness to Dickie? “Mother always liked you best.” And the audience would roar, no matter how many times and on how many of their TV shows Tommy said it. But there are many times in countless families that siblings, for whatever the reason, decide that one of them is favored, "liked best." And that suspicion is further compounded if one of the parents select that one to be the executor of … (2 comments)
trusts: It's Time to Check and Double Check
- 02/13/13 06:56 AM
Please be sure you understand that who you designate in your will or trust as beneficiaries does not in any way trump who you designated as beneficiaries in your life insurance policies, Social Security trust account, retirement account, etc. You should examine those documents every year....and ESPECIALLY if there has been a divorce, marriage, or deaths that will affect those decisions. If there is a discrepency when you pass away, no court can rule that your will or trust will be followed rather than those documents' beneficiary designations. Wealth Coaching Follow Me on Facebook William S. Cherry & No … (4 comments)
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