Before you head off on your next adventure ask yourself – Is everything handles and up-to-date? Your normal life seems a million miles away. This is the first time you have been able to go away together, just the two of you. It seems like just yesterday the kids were chasing fireflies in the back yard after the family barbeque. Time seems to have a way of accelerating. They are now grown and the loss of everyday contact has given you both newfound freedom and independence. As you … [Read more...] about Relax: Everything’s Handled
Preserving Harmony with Blended Families
We look around us and we see the changing face of America. Americans are living longer now than ever before. According to the National Center for Heath Statistics, the average life expectancy at birth is now 77.2 years. The life expectancy has ratcheted up gradually from 59.7 years in 1930. This, combined with an increased rate of divorce, results in more marriages per individual and more blended families. Let’s look at a typical situation. Susan and Mike have … [Read more...] about Preserving Harmony with Blended Families
How to Handle a Windfall
Each of us daydreams of an easy way to become rich. Maybe we will come into some unexpected money. We dream of winning the lottery, hitting a slot machine jackpot, or winning a game show. We wonder if there may be some lost relative ready to leave us their fortune. So, let’s say you do come into significant wealth. What do you do? Of course, you probably have some ideas on ways to spend the money. But, first you have to take care of business. If you acquired it from a game … [Read more...] about How to Handle a Windfall
Charitable Bequests: You Better Review Them
Taking the time to update the charitable bequests in your trust or Will can seem tedious when compared to the constant, busy buzz of everyday life; however, the consequences of not making necessary changes can be severe. It is likely A.B. Branan did not foresee that the charitable bequest provisions would remain unresolved for years following his death. When Mr. Branan signed his Will in 1992, he left a charitable bequest to the Cordele Georgia Area Y.M.C.A. After experiencing financial … [Read more...] about Charitable Bequests: You Better Review Them
Should I Leave Everything to My Spouse?
You and your spouse live your lives as one. You’ve been together for years. It seems the simple solution is to just leave everything to each other upon your deaths. Unfortunately, in this situation, the simplest solution may not be the best. First, if you leave everything to your spouse, they will be estate taxed on it at their death. If together you have more than $1 million, or expect to have that much by the time you both die, that could be a problem, depending upon the year you … [Read more...] about Should I Leave Everything to My Spouse?
Preserving the Ranch for the Next Generation
As dawn breaks over the ranch, you think of the chores that await you: tending the cattle; repairing the equipment; buying feed and supplies. The life of a rancher is not easy, but it has its rewards: a life close to family and nature. But, as you age and nature takes its course, how will you protect your family and preserve the ranch? You try to plan to minimize the impact of adversities. Maybe you build ponds to assure adequate water. Maybe you hedge prices … [Read more...] about Preserving the Ranch for the Next Generation
My Attorney Does Not Practice Law Anymore: Now What?
You are a responsible person. You go to the physician and dentist periodically. You stay active and watch what you eat. You went to an attorney and did an estate plan. Unfortunately, professionals, like the rest of us, have changes in their lives. Perhaps they moved. Perhaps they fell ill or became disabled. Perhaps they died. So, what do you do when a professional is no longer available to assist you? First, find out what has become of your … [Read more...] about My Attorney Does Not Practice Law Anymore: Now What?
Smart People Do Estate Planning
Anyone who may die or become incapacitated (in other words all of us) needs to plan their affairs. But, who actually does it? The American Association of Retired Persons conducted a survey of people aged fifty and over on that very topic. It found that sixty percent had at least a will, forty-five percent had durable powers of attorney for financial matters, twenty-three percent had a trust, and only seventeen percent had all three. What do you think is the factor … [Read more...] about Smart People Do Estate Planning
Do it the Right Way
Let's look at a history of Duke University. Doris Duke was born into wealth. Her grandfather, George Washington Duke, and then her father, James Buchanon Duke, built what became a dominant player in the tobacco industry. By the dawn of the 20th century, the American Tobacco Company was so successful, it was one of the twelve original companies comprising the Dow Jones Industrial average when it originated in 1896. It’s dominance in the tobacco industry was so great that … [Read more...] about Do it the Right Way
Anna Nicole Smith Can Teach Us a Few Things
Life lessons from Anna Nicole Smith. Anna Nicole Smith has become a household name. But that was not always the case. She was born as Vickie Lynn Hogan and grew up about 80 miles south of Dallas, Texas. She was raised by her mother and, at age 17, she married Billy Smith, age 16, a cook at the restaurant where she worked. She divorced Smith after a brief marriage which produced her son, Daniel. She worked various jobs to support herself and Daniel, including as an exotic dancer in a … [Read more...] about Anna Nicole Smith Can Teach Us a Few Things