A large portion of character generation in Feägurth is the history. The more lush the narrative, the better the game world can be tailored to the player(s). Be careful what you ask for (or write). Do not ask for something you cannot handle. If a character writes his history that he is the current King of the land, this obviously must be altered to fit the present campaign. My interpretation may be that he is (or soon will be) dating the Queen or is a high ranking noble next in line for the throne. All of these have their inherent dangers, such as assassination attempts, having to lead your people into war, rebellion, passing laws, enforcing them, etc.
The opposite side of the coin doesn't free you from hassles by the DM either. A poor person could be hassled by his past creditors, lost loves, the law, or any other number of nuisances. Indeed, the entire point of the history is to enrich the role playing experience, not to load the dice.
As a final note on player backgrounds, would be that the DM (and not the player) has the final say as to the interpretation of the written text. Once interpreted by the DM it is history, and the players lose all rights to continue to alter or modify what they have submitted. As the DM you neither judge or grade the work of the player (except for example, to determine his motives for wanting to be the wealthiest man in the land). A history could even be a talking session between the DM & the player together giving ideas and working out the details. It is up to you.
Here are some examples: