How a British Scientist’s Estate Created the Smithsonian

With nineteen museums and the National Zoo, the Smithsonian Institution is the largest museum, education, and research complex in the world. However, all of the resources, research, and educational opportunities available at the Smithsonian would not exist without the Institution’s namesake, James Smithson, and his estate.

Who was James Smithson?

James Smithson was a British scientist and the illegitimate child of a wealthy Englishman. He traveled extensively throughout his life. However, he never set foot in America. Despite never visiting the U.S., Smithson left his estate, which was worth half a million dollars, to the U.S. More specifically, according to his last will and testament, Smithson left his estate to the U.S. to create “at Washington, under the name of the Smithsonian Institution, an establishment for the increase and distribution of knowledge.”

Creation of the Smithsonian Institution

Smithson died in 1829. Congress did not accept his bequest until 1836. Then, after ten years of debate, the Smithsonian was founded in 1846. Over time, the Institution has grown to include 154 million museum objects and specimens, 2.1 million library volumes, and numerous research and education programs. 12.5 million people have visited the Smithsonian in 2017 alone. So, what made Smithson decide to create the Smithsonian Institution?

Speculation Surrounding Smithson

Since Smithson never spoke with family or friends about the decisions made in his last will and testament, no one knows why he chose to leave his estate to the United States. Some speculate that being denied his father’s legacy played a role in his decision. Others suggest democracy inspired him. Another theory suggests he wanted to emulate the Royal Institution and its goal to use scientific knowledge to improve lives. Regardless of his motivation, Smithson and his estate have successfully impacted the arts, humanities, and sciences. Visitors can thank Smithson by stopping by his crypt located on the second floor of the Smithsonian Castle.

 

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Leaving a Noble Legacy: How a Will Created the Nobel Prizes

Receiving a Nobel Prize is an annual honor bestowed upon the men and women who make valuable contributions to the world in five categories: physics, chemistry, physiology or medicine, literature, and for work in peace. Over one hundred years of prize winners – otherwise known as Laureates – have received recognition for their work. However, Alfred Nobel, the man behind the prize, was not warmly regarded for his own life’s work. Read on to discover how a journalist’s mistake led “the tradesman of death” to write a will creating a more noble legacy.

Alfred Nobel, His Work, and Bad Reporting

Alfred Nobel was a Swedish chemist, inventor, engineer, and author. He held 355 patents and invented dynamite. When his brother, Ludwig, died in 1888, a mix up occurred and the French press printed an unflattering epitaph of Alfred. Since inventing dynamite was how Alfred amassed his fortune, he was nicknamed “the tradesman of death” in the epitaph. Witnessing his unflattering legacy while still alive made Alfred want to change how he was viewed.

Creation of the Nobel Prizes

In order to change his legacy, Alfred went to the Swedish Norwegian Club and wrote his own will. Some of his estate was left to his family and staff, but the rest was to be invested into a fund. The interest of the fund was meant to be divided equally between the five Noble Prize categories created within his will. Alfred had four men at the club sign his will as witnesses.

Execution of the Will

Alfred died a year after writing his will. His assistant, Ragnar Sohlman, was the estate’s executor. Working to make the Nobel Prizes a reality was difficult for Sohlman. He faced resistance from the Nobel family because they were shocked by Alfred’s will. The Swedish royal family was angry as well. They called the prizes unpatriotic because people of all nationalities could receive the awards. Five years after Alfred’s death, the first Nobel Peace Prizes were awarded in 1901. His will was the document that made it all possible.

 

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Who Will Feed Fido When You’re Gone? Estate Planning for Pets

You love Lassie like a family member. Of course you want to ensure she is well cared for when you’re no longer around.  With a little estate planning, you can rest assured your four-legged companion has access to the resources and care he or she needs – even if you’re not there to provide it. Read on to discover estate planning options for you and your pets.

Including Pets in Your Will

When considering an estate plan that protects your pets, one option you have is to include them in your will. However, when drafting your will to include pets, it is important to understand you cannot leave property to them. In the eyes of the law, pets are property. Property cannot be left to property. Therefore, money intended to go towards a pet’s care must be left to a trusted individual. Since pets are considered property, it’s also necessary to name a caretaker in your will. Naming a caretaker ensures your pet legally becomes a trusted individual’s property after your death. Having a back-up caretaker is a good provision to include in your will as well in case the original caretaker becomes ill or dies before you.

Drawbacks of Including Pets in Your Will

Including pets in your will does have drawbacks. One of the largest drawbacks of using a will to ensure your pets are cared for is the lack of legal obligation attached to the money intended to be spent on your pet. The caretaker who receives the money is not legally required to spend it on your pet. Therefore, legal action can’t be taken against them for misusing the money.

Creating a Pet Trust

Another option to consider when planning for the care of your pets is a pet trust. A trust is a legal document that distributes property after a person’s death. Unlike a will, a trust contains a set of rules, which determine how, when, and where property is distributed. Since a trust contains a set of rules for how property is distributed, creating a pet trust ensures the money you leave for your pets is spent exactly how you intended. If the caretaker named in your trust doesn’t follow the rules, legal action may be taken against him or her. Having a set of built in rules also enables you to provide more specific instructions on how a pet should be cared for.

Drawbacks of Creating a Pet Trust

A pet trust does have its own drawbacks, however. Since a trust is created with a set of rules, it is less flexible. A lack of flexibility becomes a problem if circumstances change following your death. Also, if a care taker is trustworthy, a trust with a rigid set of rules is also unnecessary.

 

 

 

 

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