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When that extra bit of money from your tax refund lands in
your bank account, (kinda feels like Christmas, doesn’t it?) it's easy to
start dreaming about all the ways you can use it. Financial experts may tell
you that it's a chance to pay off debts, tuck away savings for an emergency, or
add to your retirement savings. You, on the other hand, may want to splurge on
something special. However, there's an often-overlooked option that not only
provides immediate satisfaction but ensures long-term benefits for both you and
your loved ones: estate planning.
Estate planning might sound like a complex and daunting
chore reserved for the wealthy, but it's actually a straightforward and crucial
process for everyone. In its most basic terms, estate planning involves making
a plan for what happens to your belongings and finances after you're gone, or
if you become incapacitated. Think of it as creating a roadmap for your loved
ones to follow, ensuring they're taken care of and know exactly how to handle
your estate according to your wishes. After all, someone will have to do
something with your stuff after you’re gone, and if you’re the one
who takes care of it while you can, you can save your loved ones a lot of pain.
And, make sure you are cared for in the way you want, by the people you want,
if you become incapacitated.
And by the way, proper estate planning covers much more than
just money and personal belongings, but we’ll delve into that in just a bit.
Why You Need an Estate Plan
Not only do you need a plan for what happens with your
finances and personal items after you’re gone or become incapacitated, but you
also need an estate plan if any of the following are true:
You care about the people in your life who will handle
things for you, if you cannot. First and foremost, estate planning isn’t
something you just do for yourself, it’s truly an investment you make for the
people you love. If it feels daunting to you, imagine how they will feel left
with a big confusing mess when something happens to you. And, it’s one of those
things that you must get handled before you need it because by the time you
need it, it’s too late, and you’ve just left the people you love the most with
a big mess.
That’s why we say that estate planning is about protecting
your family. It's about protecting their time, energy and attention, and
leaving them with a gift of love. It’s a way of saying "I love you"
that goes beyond words, providing them with security and guidance during a
difficult time. By making your wishes clear, you can keep them out of court,
prevent potential conflicts and ensure your loved ones are supported exactly as
you intend.
You want your wishes to be honored. With an estate
plan, you have the power to dictate exactly how you want to be cared for if you
are incapacitated, or who makes decisions for you if you cannot. If you would
not want to linger in a hospital bed for years like Terry Schiavo did before
her death, you must create a plan. Otherwise, the people you love could get
stuck in a court process fighting over your care.
You also get to say who inherits your assets, from your home
and savings to sentimental items. Planning ensures there isn’t any confusion
and guarantees that your possessions end up in the right hands. Planning also
makes it clear who should handle things after you are gone, and it makes it as
easy as possible for the people you choose.
You want to save money and time (for yourself and your
family). Dealing with the court if you become incapacitated or when you die
is time-consuming, can be expensive and is totally public. Without a clear plan
in place, you or your family may face costly legal battles and time-consuming
administrative hurdles. Your careful planning now can save them from this
stress and financial strain, making the process as smooth as possible. In
addition, careful planning ensures that you save yourself money by avoiding
unnecessary costs if you are unable to care for yourself.
You have minor children. If you have minor children,
consider who is home with them when you aren’t. Would that person know what to
do if you didn’t make it home? Or would the authorities show up at your house
and have to take your children into the care of protective custody/strangers
while they figured it out? If the idea of this terrifies you like it
does most parents, you need an estate plan.
Most parents of minor kids are overwhelmed with the demands
of everyday life and don’t stop to think that estate planning applies to them.
A common misconception is that planning is only for older folks who know their
mortality is staring them in the face, and young parents think that’s too far
off to warrant any consideration. That’s a mistake. Death happens to everyone
and incapacity can happen before it, no matter how old you are right now. Don’t
leave your kids at risk.
So now you know you need an estate plan but aren’t sure what
to do next. If you feel like the process seems daunting, don’t worry. Taking
that first step is easier than you might think.
Put Your Tax Refund To Work
You might consider using your tax refund to do your estate
plan on your own or opt for a cheap online service. While these options can
seem cost-effective at first glance, they don’t offer the comprehensive
coverage and personalized advice that your unique situation requires.
Instead, investing your refund in working with a heart
centered, holistic attorney with a process in place for ensuring that your plan
works throughout your lifetime is a much wiser choice. We will get to know you,
your family dynamics, and your assets, and then help you choose the right plan
for you both now, and into the future. Creating a will or a trust isn’t a one
and done thing you do, and then put it on a shelf or in a drawer and never look
at it again. When you do that, your plan is almost guaranteed to fail when the
people you love need it. In that case, it’s almost better to do nothing because
then at least you have it on your to-do list. False security is one of the
greatest risks of estate planning.
We will help you navigate the law, and also help you tailor
your estate plan to fit your specific needs, as well as provide peace of mind
knowing that your estate plan is thorough and legally sound. Remember, when it
comes to safeguarding your family's future and ensuring your wishes are
accurately reflected, the value of expert guidance is well worth the
investment.
At the very least, your attorney should help you create the
relevant documents, including:
Creating a Will: A will is a document in which
you detail the distribution of your assets and designate guardians for any
minor children. It serves as your voice, ensuring your assets are allocated as
you desire.
Setting Up a Trust: For greater control over the
distribution of your assets, a trust is invaluable. It not only allows for
precise management of how and when your assets are distributed but can also
offer tax advantages and circumvent the lengthy and public probate process. In
addition, and maybe more importantly, a trust will help your loved ones avoid a
lengthy, expensive, and totally public court process, which can cost your
family significant amounts of time, energy and attention.
Selecting Guardians and Executors: A key component of
estate planning is choosing individuals who will execute your wishes and look
after your children if you are unable to do so. These crucial choices help
safeguard your family's future. And if you want to go beyond merely choosing
people to raise your kids, you need a thorough Kids Protection Plan, which
takes into account anything that could happen (i.e., you’re in a car
accident and they’re with a babysitter at home). A Kids Protection Plan also
ensures your kids are raised by the people you want in the way you want, that
someone you’d never want to raise your kids is able to, and that the right
people are able to get emergency care for them if you’re traveling without
them.
Managing Taxes and Expenses: Effective estate
planning can significantly lessen the tax load on your beneficiaries, allowing
a larger portion of your assets to benefit them directly instead of going
towards tax settlements.
These are all undoubtedly important, and what most estate planning attorneys will do for you. However, a Estate Planning Lawyer will go a few steps further, ensuring that investing your tax refund in an estate plan is the very best investment you’ll make all year. In fact, every Estate Planning Lawyer promises to deliver a plan to clients that works throughout your lifetime. They do this by:
What If I Didn’t Get a Refund This Year?
Now you may be thinking, bummer, I didn’t get a refund this
year. Know these two things: 1) Estate planning is always a wise investment
whether you get a refund or not; and 2) A Estate Planning Lawyer, using a
unique process called Life & Legacy Planning, can help you organize your
finances so you are more likely to get a refund next year, or at least not have
a big unexpected tax bill, if that’s what happened this year.. A Estate
Planning Lawyer will also help you get more financially organized than you’ve
ever been before, so that you make the very best decisions about the allocation
of your resources for yourself and the people you love.
Estate Planning: The Ultimate Expression of Love
Among all the ways to use your tax refund, estate planning
with a Estate Planning Lawyer ensures that your love and care for your family
endure long after you're gone. It's an act of foresight that not only secures
your family's financial future but also leaves a legacy.
Contact Entrusted Legacy Law at 412-347-1731 or click here to schedule a complimentary 15-Minute call.
This article is a service of Entrusted Legacy Law. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life and Legacy Planning Session, during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge. Please note this is educational content only and is not intended to act as legal advice.
Note: this is not medical advice and should not replace a discussion with your own treating physician. This document was created after compiling helpful over the counter and home remedies from patients and colleagues.Winter is a beautiful time of the year, but it also brings along various illnesses. With the constant change in temperature and dry air, it's easy to catch a cold or flu. However, being sick doesn't have to be miserable. Here are some tips to help you through your winter sickness.First off, make sure you are getting enough rest. Your body needs time to fight off the illness, so getting plenty of sleep is essential. Drinking lots of fluids is also crucial to staying hydrated. Warm liquids such as tea or soup can help soothe your throat and loosen congestion. Second, take over-the-counter medication to relieve your symptoms. Decongestants can help relieve nasal congestion, and pain relievers such as acetaminophen or ibuprofen can help reduce fever and body aches. However, be sure to read the instructions carefully and consult with a doctor if you have any doubts.Lastly, try to avoid spreading your illness to others. Cover your mouth and nose when you cough or sneeze, and wash your hands frequently with soap and water. Stay home if you're feeling unwell to prevent spreading the illness to others, and mask up if you need to leave the house. Reminder that we are fortunate enough to have vaccinations against flu, COVID and RSV which cause significant respiratory illness.In conclusion, being sick during the winter can be tough, but with plenty of rest, hydration, and medication, you can make it through. Ive gathered up some of the most common remedies used by myself, my patients, and my followers on social media and shared them below. Remember to take care of yourself and stay warm during the chilly winter weather. Straight Off the ShelfNote: if you take other medications, its important to talk with your physician or pharmacist about how these over the counter meds may interact with your prescribed meds Cough o Vicks Vapo Rub on the chest and bottoms of feet o Coricidin (good for those with cough and high blood pressure) o Delsym Cough Medicine: dextromethorphan containing cough meds help with cough suppression, for dry coughs o Mucinex: guaifenesin containing meds help to loosen up mucus in your though to help you cough it up, for wet coughs o Sudafed: pseudoephedrine is a decongestant and can make you pretty wired/awake. caution if you have high blood pressure o Dimetapp for kiddos 6 and older Congestion/sore throat o Afrin nasal spray: temporary congestion relief o Flonase nasal spray: great for post nasal drip that causes sore throat o Saline nasal rinses General cold/flu symptoms o Dayquil/Nyquil: remember, these contain acetaminophen aka Tylenol. so dont mix with additional tylenol unless instructed by your physician Know your meds! acetaminophen is also known as Tylenol; ibuprofen is also known as Motrin and is the same class of medications as naproxen aka Aleve Home/Herbal RemediesNote: if you take other medications, its important to talk with your physician or pharmacist about how these remedies may interact with your prescribed meds Nin Jiom Pei Pa Koa-Chinese herbal throat and cough syrup Green tea Ginger tea Boom boom inhaler stick Lemon, honey, and chamomile tea Sleep Epsom salts baths Oscillococcinum Black elderberry syrup Raw garlic with honey Mullein tincture Electrolyte rich drinks like liquid IV, LMNT, pedialyte-- monitor sugar content Fermented foods Reishi Ashwaghanda Foods high in vitamin C (citrus!) Soothing Tea RecipeIn a saucepan, bring the following to a boil, then remove from heat and enjoy: tips and enjoy: 8 oz water 1 tbsp apple cider vinegar 1 tbsp honey 1 cinnamon stick 1 clove of peeled and smashed garlic small piece of peeled ginger Tips & Tricks From a PCP: after a viral infection, cough can last 4-6 weeks in some cases. if you have fever with the cough or its getting worse, talk with your doctor as it could indicate a bacterial infection never underestimate the power of sleep and resting your body a fever is technically a temperature over 100.4 degrees F the symptoms of COVID, flu, and RSV overlap significantly. getting tested for these infections may be helpful in determining if you need further intervention your gut health is key to your immune system. you may not be able to fully prevent getting sick, but a healthy mind and body will help you with resilience and recovery. focusing on fiber, mindfulness, sleep and regular exercise can help your gut stay strong! most viral infections last about 5-7 days. but if you are experiencing shortness of breath, chest pain, high fevers, difficulty swallowing, dizziness, or wheezing, contact your physician immediately
Switching to a healthier lifestyle often involves making significant changes to your diet, and one of the most challenging aspects can be finding nutritious and satisfying snacks. Traditional snack options, like chips, candy, and cookies, are often loaded with unhealthy fats, sugars, and artificial additives. Fortunately, there's a convenient and delicious solution: SnackEver.SnackEver is a subscription service that delivers a curated selection of healthy snacks directly to your doorstep each month. With a variety of boxes to choose from, there's something to suit every taste and dietary preference. Whether you're looking for gluten-free, vegan, keto friendly, organic, kosher, dairy free, or low-calorie options, SnackEver has you covered.Why Choose SnackEver?Convenience: Say goodbye to the hassle of searching for healthy snacks at the grocery store. SnackEver takes the guesswork out of snacking by delivering a carefully curated box of delicious and nutritious treats right to your door.Variety: With SnackEver, you'll never get bored of your snacks. Each month, you'll receive a new assortment of healthy goodies, including everything from protein bars and nuts to fruit chews and trail mix.Customization: SnackEver offers a variety of subscription options to cater to your individual needs and preferences. You can choose from monthly, bi-monthly, or quarterly plans, and you can even customize your box by selecting specific snacks or dietary restrictions.Cost-Effective: While healthy snacks can often be expensive, SnackEver offers a convenient and affordable way to enjoy nutritious treats. By subscribing, you'll often get a discount on the individual price of each snack.Discover New Favorites: SnackEver is a great way to discover new and exciting healthy snacks. With each box, you'll have the opportunity to try products from different brands and categories, helping you to find your new favorite go-to snack.The Benefits of Healthy SnackingIncorporating healthy snacks into your diet can have numerous benefits for your overall health and well-being. Here are just a few:Increased Energy: Eating healthy snacks throughout the day can help to stabilize your blood sugar levels and prevent energy crashes.Weight Management: By choosing nutritious snacks over unhealthy options, you can help to control your calorie intake and support weight loss or maintenance.Improved Nutrient Intake: Healthy snacks can be a great way to increase your intake of essential vitamins, minerals, and fiber.Enhanced Focus: Eating a balanced diet, including healthy snacks, can help to improve your cognitive function and concentration.If you're looking for a convenient and delicious way to incorporate more healthy snacks into your diet, SnackEver is the perfect solution. With its wide variety of options, customizable plans, and commitment to quality, SnackEver can help you achieve your health goals while enjoying delicious and satisfying treats.
Health insurance jargon can be the hardest to understand for consumers. Thats why you have a broker who goes to work for you and explains your policy options with clarity. However, not all brokers work ethically. You may not have an insurance broker who values you and may not elaborate on your policy limitations. The omission of these limits is illegal and should result in the termination of that broker. In contrast, the insured typically doesnt take legal action, and the broker makes his or her desired commission.This is not to say that all health insurance brokers operate in this zone of immorality. Just as with any profession, there are good and rotten eggs. Your moral compass and ability to judge a persons intention is a significant factor people can typically smell a sleazy salesperson. Below, are the most common limitations obscurely mentioned in health insurance policies. This information should adequately equip you for when you are asking questions of your broker.Heres a screenshot from the summary of the benefits of an insurance carriers product:*Note these limitations do not exist in all policies. Ask your broker.The list of benefits above is towards the end of the policy summary. Most people are interested in seven factors when it comes to their health insurance:Deductible/coinsurance/max out of pocket, doctor visits/specialists/urgent care, the network, prescription coverage, preventative/wellness coverage, emergency room fees, and ambulatory services. If your insurance broker goes over those seven things, this is how the policy would look and sound:Choice of $500-$10,000 deductible/max out of pocket (1 million in coverage)Choice of 70/30, 80/20, or 100/0 coinsuranceUnlimited $25 copay to doctor, specialist, and urgent carePHCS Network (PPO)$50 copay for annual wellness/preventative checkupER subject to deductible and coinsuranceAmbulatory services (above) $500 per transportMost people would agree that those seven things sound fantastic for health coverage. You have all your daily doctor needs taken care of and one million dollars in coverage, right? Wrong, let me show you a scary breakdown if you had an appendectomy while being covered by this policy.On average, the Fair Price for an Appendectomy lies somewhere between $7,000 and $25,000 (may vary due to zip code). If there are complications, it could be upwards of $35,000 or more. Heres a breakdown of the services and their estimated costs. You can always check on any surgery, and its price by visiting Healthcare Bluebook.Hospital Services for a 2-day admission, itll cost roughly $9,700.Physician Services the fee for procedure and routine postoperative care costs around $1,400.Anesthesia the price for an average surgery time of 1 hour and 15 minutes costs about $750.This cost adds up to the lower end of about $11,000 for an appendectomy. If you look above at the example policy, youll see that for the entire coverage term an appendectomy will be given a $2,500 coverage benefit. Even though your plan has a deductible, coinsurance, and max out of pocket; theres a specific limitation for appendicitis. With this knowledge, the insured will be left an $8,500 bill as an out of pocket expense! Keep in mind; these numbers are on the low end with no complications.Of course, its always better to have health insurance instead of going uninsured. With insurance, that remaining $8,500 for the appendectomy may negotiate to a lower bill. Policygenius.com does a great job explaining the functionality of network negotiated rates. Without insurance, you would be paying the almost full retail price for your medical surgery, which is a terrifying thought!
Our Firm Prepares You for Life What makes our firm different is that we were built with the needs of growing families in mind. We understand you are BUSY, you are growing, you are planning for a life of prosperity and you value ease, convenience and efficiency. You are raising children, and caring for elderly parents, while also working hard to build your own nest egg for a lifetime of support. You want to know youve made the best decisions for your family and that your plan will work when your loved ones need it most. You want to make sure your minor children would be raised by the people you choose, and never by anyone you wouldnt want, and that your teens and adult children are properly prepared to care for you and what you leave behind. You want to feel confident that youve made the right choices, and handled everything so that you arent leaving behind a mess, when something happens. That is our focus as well. Weve developed unique systems to give you the same access to a Personal Family Lawyer as was previously only available to the super-wealthy, so you can have the guidance you need to build and maintain a life of prosperity and wealth. And, to keep your family out of court and out of conflict, which is the greatest risk to the people you love and all you have created, even if youve already worked with a traditional lawyer or created documents online. Our Team Is Here for You We encourage communication with our clients. In fact, weve thrown out the time clocks so you never have to be afraid to call with a quick question. Everything we do is billed on a flat-fee basis, agreed to in advance, so there are never any surprises. We have a whole team to serve you. When you call our office to ask your quick question, you wont have to wait hours or days for a phone call back. Youll get your question answered, right away. And, if you need to schedule a more in-depth legal or strategic call with your Personal Family Lawyer, a call will be scheduled when you're both available and ready for the call so we can make the very best use of your time and not waste your time by leaving voicemail after voicemail back and forth. And, we ensure the most important details of your planning are followed through on and your plan continues to work throughout your lifetime. We have a funding coordinator to ensure your assets are owned the right way throughout your lifetime and none of your assets will end up going through a long, expensive court process or being lost to the state because they were missed after your death. Weve created unique membership programs to keep your plan up to date year in and year out as well as give you access to our Trusted Team of Legal Experts for guidance on ANY legal or financial matter. One day you will need a lawyer. I dont know why and I dont know when, but when you do, you will be grateful you can call on us and well be here to advise you or get you out of a jam. We Help You Transfer Your Life and Legacy Lastly, we believe your financial wealth is only a small part of your overall Life and Legacy Planning which is made up of your far more valuable and most often lost upon incapacity or death intellectual, spiritual and human assets. These assets are what make you who you are, and sum up whats most important to you. And, a survey of inheritors has revealed that what they care about even more than inheriting your money, is inheriting these intangible assets. Most estate plans only focus on the transfer of your financial wealth to the next generation. Most people have such great intentions of passing on the intangible, but very few ever get around to it. Its just not a priority, until its too late. How much do you know about your grandparents values? Their most prized personal possessions? How they felt about you? What they had learned during their lifetime? If you are like most people, you know very little. Thats why we build the capture and passage of these most valuable assets into every estate plan we create. Not only will we help you pass on your money, but also your values, your insights, your stories and your experience the truly valuable assets your loved ones care about the most. Weve developed a tool that allows us to capture and pass on your whole family wealth, including your Intellectual, Spiritual and Human assets. I cant go into all of the details here, but well definitely talk about it when you come in for your Life and Legacy Planning Session.