Word: affluents
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Dates: during 1960-1969
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Most Americans know the folly of dying without a will. Under the widely different state formulas devised for such cases, a widow can lose one-half of her husband's estate to his relatives. Equally alarming to newly affluent Americans is the high cost of dying with a will. For good reasons, a will must be proved valid (probated) in state courts known variously as probate, surrogate, orphans or chancery. Unfortunately, many such courts' archaic methods can tie up an estate for years, devour 20% or more of its value in legal fees-and force the dead...
...Help. Clearly, a revocable living trust may be a wise move for those able to fund it-for example, people who own their own businesses or substantial stockholdings. But what of today's typical corporate executive, who may control relatively little tangible property? Affluent as he seems, most of his wealth may be locked in group life insurance and deferred retirement benefits. To name his wife as beneficiary may overwhelm her with unaccustomed financial problems, but to set up a trust in his will consigns her to probate...
Hudgins also talks about the loans which Freedom National makes to businesses to buy stock. Because Negro businesses have not traditionally been able to get loans to buy inventory in large volume at low prices, he says, they have not been able to compete with the more affluent white businessmen in Harlem...
...ECONOMY: "Affluent, hell! The average American family just about scrapes by, and every average American here knows it."-Cartoonist Al Capp at Framingham State College...
...country, could hardly speak English, had already spent five years surviving a war, and, above all, after ten years could finally attend a decent school. No, on reading "The President of the U.S. etc. ..." I did not become furious, nor did I rocket my Volkswagen around the block. The affluent society had not yet given me a chance...