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Who Has The Power (of Attorney)?

1/31/2019

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​Do you hold the Power of Attorney for someone (either in Virginia or in another state)?

      A Power of Attorney is a written document in which a competent adult individual (the "principal") appoints another competent adult individual (the "attorney-in-fact") to act on the principal's behalf. You usually select a spouse, child or family member.   In general, an attorney-in-fact may perform any legal function or task, which the principal has a legal right to do for him/herself. You may wish to sign a Power of Attorney giving your spouse, children or partner the power to handle your affairs if you become ill or disabled. In the absence of a Power of Attorney or other legal arrangement to distribute property if you become disabled, your spouse, family or partner cannot pay your bills or handle your assets.  The result can be lengthy and expensive delays. Have a current Power of Attorney prepared.  If you are the holder of a Power of Attorney for another person's benefit, you need to make sure that person knows if you move or situations otherwise change.  The power of the POA should not be taken lightly.
[Spoken intro]
"Американская фирма Transceptor Technology приступила к производству компьютеров «Персональный спутник."

[Jackie Harris]
I've got the power

[Verse 1 - Turbo B]
Like the crack of the whip, I Snap attack
Front to back, in this thing called rap
Dig it like a shovel, rhyme devil on a heavenly level
Bang the bass, turn up the treble
Radical mind, day and night all the time
7:14, wise, divine
Maniac brainiac, winnin' the game
I'm the lyrical Jesse James

[Verse 2 - Turbo B]
Quality I possess and say I'm fresh
When my voice goes through the mesh
Of the microphone that I am holding
Copy written lyrics so they can't be stolen
If they all Snap, don't need the police
To try to save them, your voice will cease
So peace, stay off my back
Or I will attack, and you don't want that

[Jackie Harris]
I've got the power
I've got the power
I've got the power
I've got the power

[Turbo B x8]
It's gettin', it's gettin', it's gettin' kinda hectic

[Jackie Harris]
I've got the power
I've got the power
I've got the power
I've got the power

[Turbo B x4]
It's gettin', it's gettin', it's gettin' kinda hectic

[Verse 2 - Turbo B]
Quality I possess and say I'm fresh
When my voice goes through the mesh
Of the microphone that I am holding
Copy written lyrics so they can't be stolen
If they all Snap, don't need the police
To try to save them, your voice will cease
So peace, stay off my back
Or I will attack, and you don't want that

[Jackie Harris]
I've got the power
I've got the power
I've got the power
I've got the power...Written by Michael Münzing and Luca Anzilotti (under the pseudonyms Benito Benites and John "Virgo" Garrett III) and produced by Snap
Yes, I know the song is weird.  But it does make a good point.  Who is your Power of Attorney?  Sodoma Law PLLC can help you designate a POA, a durable POA, and medical POAs.  Call today.
1 Comment

U Can't Touch This?

1/30/2019

6 Comments

 
Growing up, there were few groups that I heard more of emanating from my mom and dad's record player/tape deck/stereo than Hall & Oates.  The duo had a string of pop hits starting in the 80's and continuing until the latter part of the decade.  Each of the members of the duo embarked on solo careers to varying degrees of success.  Nonetheless, one of my favorite songs for many years was "Out of Touch."  You have heard it countless times, I am sure.  
"Out Of Touch"

Shake it up is all that we know
Using the bodies up as we go
I'm waking up to fantasy
The shades all around
Aren't the colors we used to see
Broken ice still melts in the sun
And times that are broken
Can often be one again
We're soul alone
And soul really matters to me
Take a look around

You're out of touch
I'm out of time (time)
But I'm out of my head
When you're not around
You're out of touch
I'm out of time (time)
But I'm out of my head
When you're not around
Oh, oh-oh, oh
Oh, oh-oh, oh

Reaching out for something to hold
Looking for a love
Where the climate is cold
Manic moves and drowsy dreams
Or living in the middle
Between the two extremes
Smoking guns hot to the touch
Would cool down
If we didn't use them so much
We're soul alone
And soul really matters to me
Too much

You're out of touch
I'm out of time (time)
But I'm out of my head
When you're not around
You're out of touch
I'm out of time (time)
But I'm out of my head
When you're not around
Oh, oh-oh, oh
Oh, oh-oh, oh...

(Out of touch)
Out of touch

You're out of touch
I'm out of time (time)
But I'm out of my head
When you're not around
You're out of touch
I'm out of time (time)
But I'm out of my head
When you're not around..

Written by Darryl Hall and John Oates
Yes yes, I understand this song is about two people who fell into and then out of love, and that they are apart from each other by choice.  This blog is not about divorce or other relationship-type issues within the law, its about estate planning and elder law!   Where is the connection here?  Its a good one.  Do you have someone important who is "out of touch" with you and other important people in their lives?  

Whatever the reason may be, we might have a person in our lives who is important to us, who is not in regular contact with us.  Lets say you moved across the country from California to Delaware, and your mom is left behind in California.  She is getting up there in age, and she doesnt have too many friends where she is.  

So you see her when you can, like during the holidays, maybe Christmas only, and you call her every couple weeks.  At some point, she doesnt call, and you cannot reach her on the phone.  You dont think anything of it for a few days, and then you start to wonder:  maybe she fell?  Or maybe she was hospitalized?  Or something else happened??  Then you get the call that she decided to go to Hawaii on vacation for a few days because she got a good airfare.

You feel relieved, but then you wonder what would happen, how long would your mom be stuck in a ditch somewhere, with her car, or marooned in an airport, or in a hospital.  Or worse.  And then you think--you dont know who her neighbors are, and you surely dont know her friends phone numbers out there in California.  Well.  This is a pretty scary feeling! 

Lets look at some legal ramifications of being "out of touch".  If something happens to a loved one and they dont have a medical power of attorney, watch out!  If they get into an accident and immediate medical attention is needed, who can help the doctors figure out what to do, or what is against the wishes of your loved one?  What if your "out of touch" loved one has kids, and they need to be picked up from daycare everyday?  Who can pick them up and take care of them until someone with legal responsibility can get there?

The list of possibilities is nearly endless.  If there is someone who may have you listed as a POA, but your situation has changed and you no longer can serve in this capacity, have you told them such?  If you might be a beneficiary or executor on a will, and the person who wrote the will moves-- is everything you need to know/do still the same in that new state, or are you in for a bad surprise, because they were "out of touch"?  

I think you get the picture.   Life is too short to be out of touch with someone who you may be legally tied to via will or other important document.  Give your loved one, or that long lost friend a call today.  Get back in touch.  :-)
6 Comments

No Song Today...

1/29/2019

0 Comments

 


I read this article today. 

I have no additional words besides these--PLEASE discuss with your loved ones what their wishes are in the event they get admitted to a hospital.  Encourage them to sign a medical power of attorney if they are in ill health or are in danger of falling ill presently.  And then encourage them to file the documentation with the local hospital or other health care organizations.  The situation in the article may have been alleviated or mitigated if the deceased person had documentation on file for themselves.  
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Train Time...

1/28/2019

0 Comments

 
​Song info:  https://en.wikipedia.org/wiki/Long_Black_Train_(song)
Video:  www.youtube.com/watch?v=g5y2a16aF58​
​"Long Black Train"

There's a long black train comin' down the line,
Feeding off the souls that are lost and cryin'.
Rails of sin, only evil remains.
Watch out, brother, for that long black train.
Look to the heaven's, you can look to the sky.
You can find redemption staring back into your eyes.
There is protection and there's peace the same:
Burnin' your ticket for that long black train.

'Cause there's victory in the Lord, I say.
Victory in the Lord.
Cling to the Father and his Holy name,
And don't go ridin' on that long black train.

There's an engineer on that long black train,
Makin' you wonder if the ride is worth the pain.
He's just a-waitin' on your heart to say:
"Let me ride on that long black train."

But you know there's victory in the Lord, I say.
Victory in the Lord.
Cling to the Father and his Holy name,
And don't go ridin' on that long black train.

Well, I can hear the whistle from a mile away.
It sounds so good but I must stay away.
That train is a beauty makin' everybody stare,
But its only destination is the middle of nowhere.

But you know there's victory in the Lord, I say.
Victory in the Lord.
Cling to the Father and his Holy name,
And don't go ridin' on that long black train.

I said cling to the Father and his Holy name,
And don't go ridin' on that long black train.

Yeah, watch out brother for that long black train.
That devil's drivin' that long black train.
Now that you have read the description and watched the video, I will just say this.  If you are interested in the backstory, check out this link.

Not to be preachy here, but I have always thought of this song as sort of a suicide prevention song.  If you or someone you know is struggling with suicide or suicidal tendencies, please get them some help.  You can follow these directions:

Call the toll-free National Suicide Prevention Lifeline (NSPL) at 1-800-273-TALK (8255), 24 hours a day, 7 days a week. The service is available to everyone. The deaf and hard of hearing can contact the Lifeline via TTY at 1-800-799-4889. All calls are confidential. Contact social media outlets directly if you are concerned about a friend’s social media updates or dial 911 in an emergency.  Learn more on the NSPL’s website.

One frequently cited reason that people commit suicide is often that they think things will be better for those left behind.  Someone may think, literally, they would be better off dead.  This is NOT TRUE.  Those you leave behind suffer much worse.  A suicidal person may think that those left behind will benefit from the things they will leave behind in their will, or a life insurance policy.  I can tell you, the law does not work this way.  In many cases, the life insurance policy, or other estate planning tools, may be voided or otherwise impacted by a suicide to the point where there is nothing left behind from the suicidal person's estate.  Sad.

This is a difficult topic to write about, I understand that.  I wanted to clear up some misconceptions about supposed "benefits" of suicide for those left behind. In most cases, there is a LOSS of financial assets when someone commits suicide vs passing naturally...  This makes the suicidal person's death doubly hurtful to those left behind.  Again, if you need help in this area call the number(s) listed above.  

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That Ain't My Truck?

1/25/2019

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Concluding a week's worth of some of my favorite songs...  I present "Like A Rock" which was used in  (and came to be a favorite song of mine) Chevrolet truck commercials throughout the 80's and 90's.  I'm pretty much a Ford guy, but this song is just a really solid song.  Perfect connection to the product advertised.  

Like a Rock

performed by Bob Seger

Stood there boldly
Sweatin' in the sun
Felt like a million
Felt like number one
The height of summer
I'd never felt that strong
Like a rock
I was eighteen
Didn't have a care
Working for peanuts
Not a dime to spare
But I was lean and
Solid everywhere
Like a rock
My hands were steady
My eyes were clear and bright
My walk had purpose
My steps were quick and light
And I held firmly
To what I felt was right
Like a rock
Like a rock, I was strong as I could be
Like a rock, nothin' ever got to me
Like a rock, I was something to see
Like a rock
And I stood arrow straight
Unencumbered by the weight
Of all these hustlers and their schemes
I stood proud, I stood tall
High above it all
I still believed in my dreams
Twenty years now
Where'd they go?
twenty years
I don't know
sit and I wonder sometimes
Where they've gone
And sometimes late at night
When I'm bathed in the firelight
The moon comes callin' a ghostly white
And I recall
recall
Like a rock. standin' arrow straight
Like a rock, chargin' from the gate
Like a rock, carryin' the weight
Like a rock
Lihe a rock, the sun upon my skin
Like a rock, hard against the wind
Like a rock, I see myself again
Like a rock
Songwriters: Bob Seger
Like A Rock lyrics © Gear Publishing, Gear Publishing Company Inc, GEAR PUBLISHING CO., INC., HIDEOUT RECORDS/DISTRIBTRS INC (GEAR PUBLISHING DI, HIDEOUT RECORDS DIST. INC.
I'll bet you didn't know that in Virginia there are some special rules that mean trucks (and cars) are treated differently from other personal property in a property disposition during an estate probate or during distribution of intestate estates?  If you or someone else you know has some issues in this area, give me a call today!
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Give Back!  Please.

1/24/2019

0 Comments

 
Discussing some of my favorite songs this week...  How about the song "Give a Little Bit" by Supertramp!  Great song.  One of my favorites--but the actual version I like is sung by the Goo Goo Dolls.  Not sure how they did it, but they made the song better by singing about helping other people (the original was a song about the singer's love towards his girlfriend).  

This post is going to cut right to the chase.  There are lots of people in need.  There are tons of organizations out there to help those people (churches, charities, etc.).  One of my favorite is actually the YMCA.  The Princess Anne YMCA, where I go to (along with my wife and two kids) is having a charity fundraiser, where the funds raised offset the costs for people participating in their programs.  From summer camps to help for disabled vets and Gold Star families, the YMCA at Princess Anne runs many helpful programs.  And they need funds.  Please consider donating here, and earmarking it for Virginia Beach Princess Anne YMCA.  I appreciate it.

Because I can turn anything to a push for better estate planning, I want to urge you to make a donation in your will or trust to a charitable organization.  A memorial donation in an estate plan can be set up by a licensed attorney.  Please contact me today to talk about setting one up.  There are a few rules that must be followed in Virginia to ensure things are handled properly, but they are perfectly legal and will be welcomed by the organization after you pass.  Lets talk!

Oh yeah!  Song lyrics:
Give a Little Bit

Sung by the Goo Goo Dolls

Give a little bit
Give a little bit of your love to me
I'll Give a little bit
I'll give a little bit of my love to you
See the man with the lonely eyes
Take his hand, you'll be surprised
So give a little bit
I'll give a little bit of my life for you
So give a little bit
Give a little bit of your time to me
Now's the time that we need to share
So send a smile, we're on our way back home
Oh yea, yea yea you gotta feel it
Yea yea yea yea
Yea yea yea hey
Oh
Don't you need to feel at home?
(What you need)
(What you need)
(What you need)
Oh, you gotta feel it
(What you need)
(What you need)
(What you need)
Yea you come along too
(What you need)
(What you need)
(What you need)
Oh you gotta sing
Come a long way
Tonight
So give a little bit
Give a little bit of your love to me
So give a little bit
I'll give a little bit of my life for you
Now's the time that we need to share
So send a smile, we're on our way back home
Yea come along too
(What you need)
(What you need)
(What you need)
Yea we gotta feel it
(What you need)
(What you need)
(What you need)
Cause I need to feel at home
(What you need)
(What you need)
(What you need)
Ooh come along too
Such a long ride
Come a long way
Ooh, sing it tonight
Songwriters: Richard Davies / Roger Hodgson
Give a Little Bit lyrics © Universal Music Publishing Group
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January 23rd, 2019

1/23/2019

0 Comments

 
Continuing the week of my favorite songs, we have a recent entrant into the mix.  I'll just say this: I like the way this song comes across sonically and listening to the song just makes me feel happy.  So there's that!   

Call Me Maybe
by Carly Rae Jepsen

I threw a wish in the well
Don't ask me, I'll never tell
I looked to you as it fell
And now you're in my way

I trade my soul for a wish
Pennies and dimes for a kiss
I wasn't looking for this
But now you're in my way

Your stare was holdin'
Ripped jeans, skin was showin'
Hot night, wind was blowin'
Where you think you're going, baby?

Hey, I just met you, and this is crazy
But here's my number, so call me maybe
It's hard to look right at you, baby
But here's my number, so call me maybe

Hey, I just met you, and this is crazy
But here's my number, so call me maybe
And all the other boys try to chase me
But here's my number, so call me maybe

You took your time with the call
I took no time with the fall
You gave me nothing at all
But still, you're in my way

I beg and borrow and steal
Have foresight, and it's real
I didn't know I would feel it
But it's in my way

Your stare was holdin'
Ripped jeans, skin was showin'
Hot night, wind was blowin'
Where you think you're going, baby?

Hey, I just met you, and this is crazy
But here's my number, so call me maybe
It's hard to look right at you, baby
But here's my number, so call me maybe

Hey, I just met you, and this is crazy
But here's my number, so call me maybe
And all the other boys try to chase me
But here's my number, so call me maybe

Before you came into my life, I missed you so bad
I missed you so bad, I missed you so, so bad
Before you came into my life, I missed you so bad
And you should know that, I missed you so, so bad

It's hard to look right at you, baby
But here's my number, so call me maybe

Hey, I just met you and this is crazy
But here's my number, so call me maybe
And all the other boys try to chase me
But here's my number, so call me maybe

Before you came into my life, I missed you so bad
I missed you so bad, I missed you so, so bad
Before you came into my life, I missed you so bad
And you should know that, so call me maybe

Written by Tavish Crowe, Carly Rae Jepsen, Josh Ramsay

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High Stakes for the Future

1/22/2019

0 Comments

 
"The Gambler"
(as sung by Kenny Rogers)
On a warm summer's evening
On a train bound for nowhere
I met up with a gambler
We were both too tired to sleep
So we took turns a-starin'
Out the window at the darkness
The boredom overtook us
And he began to speak

He said, "Son, I've made a life
Out of readin' people's faces
And knowin' what the cards were
By the way they held their eyes.
So if you don't mind my sayin'
I can see you're out of aces
For a taste of your whiskey
I'll give you some advice."

So I handed him my bottle
And he drank down my last swallow
Then he bummed a cigarette
And asked me for a light
And the night got deathly quiet
And his face lost all expression
Said, "If you're gonna play the game, boy,
You gotta learn to play it right.

You got to know when to hold 'em,
Know when to fold 'em,
Know when to walk away,
And know when to run.
You never count your money
When you're sittin' at the table.
There'll be time enough for countin'
When the dealing's done.

Every gambler knows
That the secret to survivin'
Is knowin' what to throw away
And knowin' what to keep.
'Cause every hand's a winner,
And every hand's a loser,
And the best that you can hope for
Is to die in your sleep."

And when he finished speakin'
He turned back toward the window
Crushed out his cigarette
And faded off to sleep
And somewhere in the darkness
The gambler he broke even
And in his final words
I found an ace that I could keep

You got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealing's done

You've got to know when to hold 'em
(When to hold 'em)
Know when to fold 'em
(When to fold 'em)
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealing's done

You got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealing's done

Writer(s): DON SCHLITZ ​
Continuing my week of blog posts about my favorite songs, here is another of my absolute favorites.  I could not get enough of this song when I was a kid.  Again, I was born in 1975 and this song hit the charts for Kenny Rogers in 1978.  It was still so popular for Kenny that when I bought my first record album in the early 1980's, it was the album containing this song that I bought.  Kenny Rogers' Twenty Greatest Hits.  What a mind-altering experience for a kid to hear not only "The Gambler" but all the other hits like "Coward of the County" and "Scarlett Fever".  Wow.  

Well that's all great, but what does this have to do with estate planning?  Hear me out, folks!

The song is obviously a good story, in the oral storyteller's tradition, about a random man who meets another kindred soul on a train bound for nowhere.  The man met is a gambler, and he revels the only other person awake on the train with the story of his life.  It is a sad recollection of a life wasted (?) travelling around, drinking whiskey, and gambling.  Now here is thing--it sounds like the gambler is sad or melancholy when he is recounting his life to the stranger.  He may be happy with the life he has led.  But who knows for sure?  The only one who truly knows is the gambler himself. 

I always thought the gambler regretted the choices he made.  He had no roots, no "love of his life", nowhere where he belonged.  And certainly no one who would miss him when he was gone.  And I wonder now--even though it sounds silly--was what would happen to all of his things when he died?  We dont even know if he had anything--it could be that he was dirt poor and eking out a meager existence gambling his life away, it could be that he was rich beyond our wildest dreams--but if he truly was alone, who would memorialize his passing, and what WOULD happen to all of his stuff?  

Let me just say this.  If you die with no heirs, and no will dictating otherwise, your property may escheat to the state.  Meaning that everything YOU gambled for (and gained) in life will be passed to the Commonwealth of Virginia for its use and benefit.  Do you have heirs?  If you don't, do you have people you wish to distribute your estate to?  If the answer to the first question is yes, you need to contact me today.  If the answer to the second question was yes, you need to contact me today.  We can set things up so that things are taken care of properly and you are not gambling with your accumulated assets.

**

In an interesting postscript, I will note that I always thought, based on the song lyrics, and general "feel" of the song, that the gambler DIED after "drifting off to sleep" at the end of the song.  Sad, right?  Why would I think this?   Well, I wanted to note that I have distinct memories of seeing Kenny Rogers perform this song on TV during an episode of the Muppet Show.  Everyone was dressed like robber barons and folks from the late 1800's, riding a fake train in the parlor car.  The gambler was some random Muppet.  And at the end of the skit, the gambler died in his sleep and before the end of the song, a ghost version of the Muppet was singing the chorus.  Yes, this was a kids show.  Come to find out that this was a REAL memory.  During the research for this article it turns out such an episode existed, did feature Kenny Rogers (and a ghost muppet), and the muppet gambler "died" and turned into a ghost.  Funny what one remembers from one's childhood.

**

In yet another fascinating postscript, not only do I like this song, I enjoy most music by Kenny Rogers immensely.  I found out today that Kenny was born in Houston, Texas.   If you know your football history, there was a United States Football League team in the early 1980's named The Houston Gamblers.  I just found out that the team got its name from this song.  Furthermore, one of the star players of the Houston Gamblers was none other than Jim Kelly--who went on to QB my favorite team to four Super Bowls: the Buffalo Bills.  Small world, huh?
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Whatever Happened to Brandy?

1/21/2019

0 Comments

 
Brandy (You're A Fine Girl)
as performed by Looking Glass
There's a port on a western bay
And it serves a hundred ships a day
Lonely sailors pass the time away
And talk about their homes
And there's a girl in this harbor town
And she works layin' whiskey down
They say, Brandy, fetch another round
She serves them whiskey and wine
The sailors say: "Brandy, you're a fine girl" (you're a fine girl)
"What a good wife you would be" (such a fine girl)
"Yeah, your eyes could steal a sailor from the sea"
Brandy wears a braided chain
Made of finest silver from the North of Spain
A locket that bears the name
Of the man that Brandy loved
He came on a summer's day
Bringin' gifts from far away
But he made it clear he couldn't stay
No harbor was his home
The sailors say: "Brandy, you're a fine girl" (you're a fine girl)
"What a good wife you would be" (such a fine girl)
"But my life, my lover, my lady is the sea"
Yeah, Brandy used to watch his eyes
When he told his sailor stories
She could feel the ocean fall and rise
She saw its ragin' glory
But he had always told the truth, Lord, he was an honest man
And Brandy does her best to understand
At night when the bars close down
Brandy walks through a silent town
And loves a man who's not around
She still can hear him say
She hears him say "Brandy, you're a fine girl" (you're a fine girl)
"What a good wife you would be" (such a fine girl)
"But my life, my lover, my lady is the sea"
It is, yes it is,
He said, "Brandy, you're a fine girl" (you're a fine girl)
"What a good wife you would be" (such a fine girl)
"But my life, my lover, my lady is the sea"
Songwriters: Elliot Lurie
Brandy (You're A Fine Girl) lyrics © Warner/Chappell Music, Inc
I'll be honest with everyone--for some reason, this song is my absolute favorite song, ever.  And it remains so despite stiff competition from over 40 years of additional music released since it became a number one Billboard hit in 1972.  I was born in 1975 and I just enjoy this song a whole lot.  Musically, I am sure it is nothing special, and people never rank it among the best songs in the world, but I think its great.  

Who is Brandy?  Was the singer singing about someone he knew?  Or some lost love?  Or maybe just weaving a story that was timeless about a love lost to the sea?  There is a urban legend going around that Brandy was based on a real person who lived in the late 1700's and died in 1828 up in New Jersey.  Her name was Mary Ellis.  You can read about Ms. Ellis here.  The writer of the song has refuted this legend, and told everyone that the song is based loosely on a girl he knew named Randy.  Well, that changes things!  But we can still look deeper into the life of Ms. Ellis.  It is absolutely a fascinating story--take a moment to read it. 

This brings us for the topic of the day:  funeral planning.  Ms. Ellis' burial plot is in the parking lot of a movie theatre.  It is kind of sad when you think about it--not only was she never reunited with her lost love, the mariner who left and never came back--but her eternal resting place now overlooks a parking lot.

Please make funeral planning, and the location of your eternal remains, an issue that you include in your estate planning.  Your heirs will appreciate your efforts.  And although you will not be around to appreciate where you are buried or interred, the people who visit you can perhaps draw more solace from a serene peaceful pastoral setting than from the parking lot of a mall. 

You are definitely able to dictate what your wishes are for your burial, cremation, or other funeral plans, right in your will.  Give me a call today to discuss!  And here's to Brandy, wherever she may be.
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More Farming Stuff

1/18/2019

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5 Estate Planning Mistakes You Don’t Want To Make

Polly Dobbs is an estate planning lawyer, who along with her team at Dobbs Legal Group, has worked with hundreds of farm families. Dobbs is not afraid to share the mistakes she’s seen clients make over the years, so you don’t have to make them too.

​Mistake 1:  Do nothing because your net worth is under the current estate tax exemption.

Wrong.

Because the estate tax exemption doubled through 2025 by the 2017 Tax Cuts and Jobs Act, Dobbs says some farmers don’t think estate planning is necessary. “We are in this window where the estate tax exemption is $11.4 million per person so that means a married couple compasses $22.8 million of assets free from federal estate tax, and that's unheard of,” she says. “We are one year into this Tax Act that lasts through 2025, when it's set to expire and to be cut in half again.”  In 2026, the exemption will be back down in half, roughly in the neighborhood of $5.5 million per person, $11 million total.  “Keep in mind, we're having an election 2020 and any law can change at any time,” she explains. “We don't have a guarantee that we're going to get through 2025.”  Regardless of the size of your estate, Dobbs says your family is a bigger risk to the future success of your farm than Uncle Sam ever is. “It’s family feuds. It's blended families, step moms and half siblings and the way different family trees are made up on farm and off farm,” she says. “It gets messy quickly, and that's what needs proper planning. Taxes don't drive this bus. Family goals, family relationships, and goals for the future are what need to come first and drive this bus.”

Mistake 2:  I want to treat all my kids exactly the same.

Not necessary.
“As a parent, I get it,” Dobbs says. “You don't want to play favorites, everybody should get exactly the same but that just does not work in my world.”  Fair does not mean equal, Dobbs says. “No one is entitled to anything,” she adds. “There is no law that says you have to treat your kids exactly the same and that everybody's column has to be equal penny to penny at the end of the day when everything settles out.”  Change your mindset, she advises. Start thinking about who should own which assets. Who should control things and what the overall plan looks like.  “Your children are different, and it is okay to treat them differently.” Speaking of kids, Dobbs says your kids won’t just magically figure estate planning out when you die. It’s your responsibility to draw roadmap, tell your kids what to do, and be responsible for your legacy, she adds.

Mistake 3:   I'm just going to title my property jointly with my kids and their spouses so it just automatically passes at death.

Wrong.

While jointly owned property does avoid probate administration because it automatically passes to the survivor at death, Dobbs says that's not a good reason to structure joint ownership.  “We shouldn't let fear of probate drive us to do things like slap names on titles and create joint ownership,” she says. “It also creates a taxable gift when you just start adding names on property when consideration hasn't been given. That's a gift and we have to be careful about. Formalities are important.”  Don’t forget, you get to gift $11 million in your lifetime and upon death combined. The IRS keeps track.  “If you're married and you're worth less than $22 million, you feel like you can be a little careless and make gifts, but you don't want to go through an audit and have to defend them,” she explains. “It's just better to be formal about it.”  She also reminds farmers that once you start putting names on deeds it not only gets hazy and complicated really fast, but those assets are squarely in your child's divorces estate.  “If there's a future divorce, their name is on the deed and it's getting divided up by the divorce court judge, and you've lost control over it,” she says.  Think carefully about joint ownership, she cautions farmers. Even just with bank accounts.  “A sweet little old lady says I'll go into the bank to add my daughter to the account. She's going to help me pay my bills, and the bank teller gets it wrong and makes the daughter a joint owner instead of just an authorized signer,” she says. “That's the same as making your bank teller into your estate planning attorney. It's just not good.”
Mistake 4:  I'm just going to sell my last crop and have an equipment auction and retire happily.

Not likely.

“There will be a huge income tax liability at that point because farmers never pay income taxes,” Dobbs says. “They sell this year's grain next year and they deduct next year's expenses this year. They buy real shiny equipment right there in December and then depreciate it all, but all that just creates a giant wave that you're writing that eventually is going to crash and you're going to have a crop to sell with not next year's expenses to wash against it and a whole bunch of depreciated equipment. It's going to be pretty nasty tax hit.”  Don’t end your career on a terrible tax note, she warns adding that you don’t have to understand all of the tax techniques, you just have to ask for help.  “When it's time to retire, call somebody, get some advice. Don't think that the only thing to do is sell your grain, have an auction and take the tax hit, because there are things available that can help with that,” she says. “As long as there hasn't been a sale and a check, there's planning that can be done.”

Mistake 5:  I'm just going to copy my neighbor’s estate plan.

Not smart.

“There is no cookie cutter approach to this kind of planning,” Dobbs says.  For example, lifetime gifting might be great for some families and a terrible idea for other families.  “We have to dig in and look at carry over basis that's affiliated with lifetime gifts versus a step up in basis when there are assets inherited after death,” she explains. “That can make a big difference if there's a future sale of the farm, even if the sale is only between siblings or cousins.”  Estate planning is very fact specific. The estate planning lawyer and the succession team really need to know all the information, all the dirty laundry and everything about the family and the relationships in addition to the assets to craft a plan.  “It's the family issues and the goals that should drive the planning, and you're not like your neighbor,” she says. “You can't just copy what your neighbor did and think it's going to fit.”

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    Jeff Sodoma, MPA, Esq. is a lawyer based in Virginia Beach, Virginia

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