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Author Topic:   Millionaire Leaves Entire Estate To Pay National Debt
LibraSparkle
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Posts: 6034
From: Vancouver USA
Registered: May 2004

posted January 21, 2006 12:18 AM     Click Here to See the Profile for LibraSparkle     Edit/Delete Message
Millionaire Leaves Entire Estate To Pay National Debt

POSTED: 6:37 am PST January 20, 2006

FINDLAY, Ohio -- A woman who died Nov. 9 at age 98 has bequeathed her $1.1 million estate to the federal government and requested that it be used to help pay down the $8.1 trillion national debt.

Attorney Tom Drake, the executor of Margaret Elizabeth Taylor's estate, said his client made it "very clear" what her fortune was to be used for. Her will was filed recently in Hancock County Probate Court.

Taylor, of Findlay, was a staunch Democrat who believed the national debt should be paid off and she wanted to do her part, Drake said.

"It's not what I would have advised her to do with it, but she really wasn't interested in my opinion," he said. "In the end, an attorney has to listen to their client. That's what I did."

Taylor had no living siblings or children, and her husband died in 1977.

"She had told me once that she wasn't planning on leaving anything to family," cousin Maxine Magoon said. "She didn't tell me exactly what she was going to do with it, but said that a lot of people would benefit."

Treasury Department officials couldn't remember a larger gift, spokesman Stephen Meyerhardt said Thursday.

"It's the biggest in at least the last 15 years, and most likely the largest one ever," he said. "Needless to say, most donations are much, much smaller."

Bureau of the Public Debt records show that U.S. citizens donated a total of $1.5 million toward debt reduction last year.

Taylor was known in her northwest Ohio community for giving to charity, her church and friends. "She was also very involved with her stocks," Magoon said.

Copyright 2006 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


http://www.kirotv.com/money/6273546/detail.html

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Johnny
Knowflake

Posts: 2056
From: Colorado, USA
Registered: Nov 2004

posted January 21, 2006 04:44 AM     Click Here to See the Profile for Johnny     Edit/Delete Message
I bet her family remembers her fondly now.

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whalewasp78
Knowflake

Posts: 541
From: Missouri-Misery
Registered: Apr 2004

posted January 25, 2006 11:29 AM     Click Here to See the Profile for whalewasp78     Edit/Delete Message
Wow! Talk about selfless service!

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Moon666Child
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Posts: 2025
From:
Registered: Jul 2004

posted January 25, 2006 11:54 AM     Click Here to See the Profile for Moon666Child     Edit/Delete Message

------------------
Welcome Home to GhostVillage

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Philbird
Knowflake

Posts: 3396
From: Here, there and everywhere.
Registered: Jun 2004

posted January 25, 2006 12:14 PM     Click Here to See the Profile for Philbird     Edit/Delete Message
Wow, talk about a selfish government!

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lovely*
Knowflake

Posts: 2141
From: CA
Registered: Jul 2003

posted January 25, 2006 07:30 PM     Click Here to See the Profile for lovely*     Edit/Delete Message
"selfish government" a new oxy moron!!!! LOL

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whalewasp78
Knowflake

Posts: 541
From: Missouri-Misery
Registered: Apr 2004

posted January 26, 2006 11:25 AM     Click Here to See the Profile for whalewasp78     Edit/Delete Message
Ever heard the saying, "The bureaucracy expands to meet the needs of the expanding bureaucracy."

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