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The Rich Fool!

African American news from Pasadena - Personal Finance - Rich fool without an estate plan in CaliforniaThe Biblical parable found in Luke 12:16-21 tells the story of a rich man who was blessed with a great harvest. The man decided to keep all of his riches for himself, retire and "eat, drink and be merry" for the rest of his days. However, that very night God told him that it would be his last night on earth and then asked him "Now who will get all of your riches?"

The Bible doesn't say whether or not the man answered God. I don't know if they even had estate planning in Biblical times but if the rich man lived in California today and didn't have an estate plan, here are some of the possible answers to God's question:

If he had no spouse, domestic partner or blood relatives that could be found (in essence, no heirs), all of his riches would go to the State of California (the State can really use that money!).

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How to Run Your Home More Like a CEO

Four Tips for Time & Budget Management from a Business Development Strategist

All successful CEOs have one thing in common: They're able to maintain a big-picture perspective. It's also something successful moms have in common, says Zenovia Andrews, a business strategist, speaker, author and mom who coaches entrepreneurs and CEOs on time and budget management.

"In business, CEOs implement a process that achieves efficient time and resource management in the most cost-effective way; sounds a lot like a mom, doesn't it?" says Andrews, founder and CEO of The MaxOut Group, a company devoted to empowering and teaching entrepreneurs development strategies to increase profits.

"If every mom were a CEO, America would rule the world!"

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