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Posts tagged "Estate Planning"

Will Epstein's last-minute trust leave his accusers empty-handed?

Just two days before accused multimillionaire sex trafficker Jeffrey Epstein died in his jail cell this month, reportedly by suicide, he signed a will. That will could make it difficult for his alleged victims to get any money in lawsuits against his estate. The 66-year-old had pleaded not guilty to charges of conspiracy and sex trafficking of minors.

Update on IPL Project First Phase

A milestone in the creation of the 150 mile 2.3 billion dollar Integrated Pipeline Project (IPL) is about to be reached. After nearly four years of construction and 12 years since its initial proposal, the first 50 miles of this giant pipeline will begin operation. This is a huge initial step for the pipeline; which isn't expected to be completed in its entirety until 2035. The project was built in partnership with the city of Dallas, and will bring 150 million gallons of water the city. Getting to this point was neither easy nor inexpensive.

The Meaning of "Public" Use is Stretched in Recent Texas Supreme Court Ruling

Commercial real estate developer KMS lost its recent battle with the City of Rowlett over the condemnation of a private drive built to allow access to its 9-Acre property sites. Tensions began to rise after KMS refused to come to terms on a deal to allow the creation of an easement between their private drive and a project being developed by neighboring land developers, Briarwood. The project in question, the building of a Sprouts Grocery Store; which had heavy investment from the City in the form of $225,000 worth of incentives. The amount would be guaranteed, provided that Briarwood could create access to the grocery store via the easement in question. The City had been attempting to draw in a high end grocery store project for nearly a decade. When KMS refused to sell, the city filed condemnation proceedings in order to acquire the land for the project themselves.

Houston's Grand Parkway Receives $605 Million Federal Loan For Further Expansion

Upon completion, the Grand Parkway will make a 180-mile loop around greater Houston. Portions of the massive toll road are currently open, but to finance the next phase of construction, the U.S. Department of Transportation has approved a $605 million loan to Grand Parkway Transportation Corporation, to build the road. Funds will be used for two eastern segments between U.S. 59 and I-10 - that's the portion that goes into Liberty and Chambers Counties. The new lanes will add about 44 miles to the project and they're expected to be finished in 2022 as construction is already underway. This investment will aid regional and local agencies to develop the infrastructure that best meets the needs of their communities, increase connectivity, alleviate congestion, and enhance safety. Currently, drivers can take the Grand Parkway from Sugar Land north to the Eastex Freeway. A portion of the toll road is also open near Baytown. Please Call: (281) 341-5577 for more information.

Celebrity or not, estate planning is important

The recent death of Aretha Franklin highlights the importance of estate planning. Ms. Franklin died without a will or trust in place. Her attorney said that he constantly advised her to set up a trust. Ms. Franklin was not married at the time of her death and she is survived by four sons. Under Michigan law, her estate will be divided between her four children. While Ms. Franklin will Ms. Franklin may be the latest celebrity to die without a will but she is certainly not the only one.

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