With Your Family in Mind

Not that long ago only one in 10 people lived past the age of 65, now nearly eighty percent live past the age of 65!  Currently 71 percent of today’s baby boomers have at least one parent that is still alive; where as in 1989 just 60 percent of people who were ages 41-59 reported they had at least one living parent.  This trend shows an increasing number of older adults that will eventually need to be cared for in our society.

In previous articles we have addressed consideration of parenting plans for young children and teenagers.  What about young adult children?  The law in California imposes a responsibility on divorced parents vto provide for their minor children (generally under the age of 18) and disabled adult children.  But many parents continue to feel responsible for their children during the young adult’s transition to independent living.  We should note there is a philosophical divergence between those that believe “adult” children need to be on their own and those that believe the “launching” period occurs at an older age.  While we take no position on this question, we are often called upon to address the issue of extended support.

When it comes to estate planning, it is relatively easy to pass on your financial assets.  What about who you are, your values and what is important to you?  These are things that are often far more valuable than any amount of financial wealth you could leave your loved ones.  There is a way to pass on more than just your financial assets to your loved ones through your estate plan.  You can pass on your intellectual, spiritual and emotional assets. 

You’re not a wimp if you’re willing to tame the lions and tigers and bears in your life.  If you’re like most of us, you’re living with any number of the following challenges, and are doing your best to:

The winter season is upon us and we all know what that means — Christmas is almost here.  This winter why not participate in bringing hope and joy to a child somewhere in the world?  How about purchasing $10 worth of little gifts to be sent in a shoebox to another country?  Operation Christmas Child is a branch of Samaritan’s Purse that does exactly that.  Since 1993, 61 million shoeboxes have been packed, shipped, and delivered across the globe.  It’s fast, easy, and blesses both the sender and the receiver.  

Although last year’s inaugural LETMESAIL New Year’s Eve Bon Voyage Ball was the sold-out “talk of the town”, this year’s gala promises to be even bigger and better!  With only about sixty days left until New Year’s Eve, you won’t want to delay in making your party plans to ring in the New Year!

In September, the Santa Clarita Aktion Club went to the inaugural Aktion Club Convention in Wonder Valley.  Thirteen Aktion Clubs from California were represented and all of them had a great time swimming, canoeing, fishing, going on hayrides, singing around the campfire and making s’mores.  More importantly, they enjoyed learning about other ways to help their communities and making new friends.  The Santa Clarita Aktion Club did a great job presenting one of their fundraising ideas to the other clubs.  While some of the members talked about the fundraiser, the other club members walked around the room with the large posters they had made.  The club received many compliments about their presentation.

The Santa Clarita Branch of the American Association of University Women celebrated its 40th Anniversary with a Member Brunch on September 20th at the home of Louise Schultz.  Ed Masterson, SCV Field Representative for Assemblyman Cameron Smyth, recognized the group with a special certificate while LA County Supervisor Michael Antonovich and the Santa Clarita City Council conveyed congratulatory messages. 

When wedding bells ring, it may be time to revamp your insurance coverage.  Marriage can be one of the most exciting and significant events in a couple’s life.  As you promise to love and cherish your spouse, it’s also important to be sure you have enough protection so that both of you are taken care of.

Last month we started our series on unity.  We talked about the fact that we need each other in order to make it through this thing called life.  We discovered that unity brings power.  When we make up our minds to come together, we will discover that we have power that surpasses anything we could ever imagine.  We have the power to be effective.  The power to succeed.  Most importantly, we have the power to change negative situations into positive situations.

Before making any decision, you need “information.”  When it comes to estate planning, I want my clients to truly understand what they are doing, not just sign a bunch of documents.  In order to understand what you are doing, I think information is key, which is why I offer the following information to anyone who asks for it.  Armed with this information, you can better make the choices you need to make when it comes to properly planning your estate. Also, with this information, you will have an easier time understanding your attorney’s recommendations.

The recently released STAR test results are good news for the Hart District.  Our students have increased their scores in nearly every subject and at nearly every grade level, and the percentage of Hart District students scoring proficient and above on all STAR exams is consistently 20 to 30 percent higher than their county and state peers.  These outstanding results came despite challenges posed by the state budget cutbacks.

“Everything appears to promise that it will last; but in this world nothing is certain but death and taxes.”  So said Benjamin Franklin.  While sometimes marriage also fails to meet the promise it will last, the taxman is eternal.

The month of October brings about many changes.  This month we are celebrating our clergy.  October is Pastor appreciation month.  As members of the church, we sometimes forget the time commitments and sacrifices a pastor makes.  This is even more true if they have a family.

Individuals engaged in business can be personally liable for business creditors’ claims even when the business is a separate legal entity, such as a corporation.  One way to be personally liable for corporate debt is if the individual signed a personal guarantee.  Shareholders of the corporation also can be personally liable for the debts of the corporation even if they did not sign a personal guarantee under an “alter ego” theory.  Shareholders are often also the officers and directors who manage the business/corporation.

According to Don Miguel Ruiz, author of The Four Agreements, “Attention is the ability we have to discriminate and to focus only on that which we want to perceive.  We can perceive millions of things simultaneously, but using our attention, we can hold whatever we want to perceive in the foreground of our mind.”  What kinds of things do you attend to in your life?  Are you the type of person who assumes the worst without testing the evidence?  Or, are you able to attend to the positive aspects of a potentially negative situation?  When faced with challenging events, although we may be able to think reasonably, the way we perceive the situation can greatly affect our mood and self-esteem.

With nearly 85,000 children in California removed from their parents’ homes due to abuse or neglect and 9,000 foster children in California waiting for adoptive homes,  there is a great need for caring adults to provide loving, nurturing homes as either foster or adoptive parents.  

Planning is where it all begins.  Whether you realize it or not, life and finances are intertwined and dealing with money requires a plan.  Let Richard W. Newman help you reach your life’s goals.