Page 35 - Workbook3E

American Capitalism Straight Ahead
“We’re giving you your inheritance early son, the bank owns all the rest...”
2 Preserving Your Estate Blesses Your Family
In some ways America has unique laws of inheritance. Through proper planning, you may pass on your assets, real estate holdings, and other capital to family members, friends, or charitable organizations. Then you guarantee those closest to you in life benefit from your financial assets when you pass away. So acting as a responsible steward brings rewards to you and your loved ones.
3 Capital Benefits Your Family and Community
Private property is not entirely “private.” It’s part of the resources of Mother Earth’s original gift to you. Because of this, communities feel some sense of responsibility and ownership for private property. Zoning and Public nuisance laws may apply to your property affecting its upkeep and maintenance. Municipalities may exercise “eminent domain” laws and convert private property to public property.
This view of shared ownership means although private property benefits private individuals and families, its value and improvements may also benefit the community. Society encourages and supports the efforts of private landowners to act responsibly in maintaining and improving their property and neighborhood.
“The power of perpetuating our property in our
families is one of the most valuable... and that which tends the most to the perpetuation of society itself.”
~ Edmund Burke
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