mother with son doing homework
It’s back-to-school time again, and when it comes to estate planning YOU may have homework to do. As a parent, your most critical—and often overlooked—task is to select and legally document guardians for your minor children. Guardians are people legally named to care for your children in the event of your death or incapacity.

If you haven’t done that yet, you should immediately do so – or come to one of our “Guardian Naming Workshops” and get it done there. Information on our next workshop can be found here.

Don’t think just because you’ve named godparents or have grandparents living nearby that’s enough. You must name guardians in a legal document, or risk creating conflict and a long, expensive court process for your loved ones—all of which can be so easily avoided.

Covering all your bases
However, naming permanent guardians is just one step in protecting your kids. It’s equally important to have someone (plus backups) with documented authority, who can stay with your children until the long-term guardians can be located and formally named by the court, which can take weeks or even months.

The last thing you want is for police to show up at your home and find your children with a caregiver, who doesn’t have documented or legal authority to stay with them and doesn’t have any idea how to contact someone with such authority. In such a case, police would have no choice but to call Child Protective Services.

Closing the gap
This is a major hole in many parent’s estate plans, as we know you’d never want your kids in the care of strangers, even for a short time. To fix this, we’ve created a comprehensive system called the Kids Protection Plan®, which lets you name temporary guardians who have immediate documented authority to care for your children until the long-term guardians you‘ve appointed can be notified and get to your children.

The Kids Protection Plan® also includes specific instructions that are given to everyone entrusted with your children’s care, explaining how to contact your short and long-term guardians. The plan also ensures everyone named by you has the legal documents they’d need on hand and knows exactly what to do if called upon. We even provide you with an ID card for your wallet and emergency instructions to post on your refrigerator, so the contacts and process are prominently available in case something happens to you.

A foolproof plan
With the Kids Protection Plan®, you’ll name one permanent guardian and one temporary guardian, along with two or more backups, in case the primary isn’t available or cannot serve. And we instruct caregivers to NEVER CALL POLICE IF YOU CANNOT BE REACHED UNTIL ONE OF THE NAMED GUARDIANS ARRIVES AND IS PRESENT WITH YOUR CHILDREN.

Finally, if there’s anyone you’d never want raising your children, we confidentially document that in the plan, preventing them from wasting the time, energy, and assets of the people you do want caring for your children.

With us as your personal family lawyer, you have access to the Kids Protection Plan® to ensure the well-being of your children no matter what. As your kids head back to school, do your homework by contacting us today.

Dedicated to empowering your family, building your wealth and defining your legacy,

adult_child_talking_to_mom_on_couch 91024Whether through illness, injury, or other means, anyone can require a guardian if they become mentally incapacitated. In such cases, if there is no estate planning in place (or insufficient planning) to keep family or other loved ones out of court, a guardianship or conservatorship must be established via court process.

Obtaining guardianship can be an extraordinarily challenging and expensive process. It begins with filing a petition in court for guardianship and requesting the court declare the incapacitated person incompetent. In some cases, these types of filings are made “ex parte”, or in secret, and a guardianship can be established before family or close friends even know what’s happening. In other cases, such a filing can result in a heated dispute between family members and/or friends, who may claim they’d be better suited for the role. Given this, things can get quite costly very quickly.

Of course, this assumes these matters haven’t already been decided through proper and up-to-date estate planning, including a valid durable power of attorney and advance health care directives, which are the best methods for ensuring this massive responsibility is handled as effectively as possible. Sadly, most people don’t think of the costly possibility of incapacity and therefore leave their families at risk.

If you do have a loved one who needs a guardian, here are some of the things you’ll need to know:

Who can be appointed as guardian?
Unless specified in a valid legal document, any family member or other interested person can petition for guardianship—even a close friend can do it if they prove they’re best suited for the position. That said, most courts give preference to the ward’s spouse or other close family members. In some cases, the guardian is required to post a bond, which typically requires good credit and some level of deposit to be held in the event of the guardian’s wrongdoing. This bond requirement often disqualifies many friends and family, who either don’t have good credit or the resources to post a bond.

If a relative or friend is not willing—or capable—of serving, the court will appoint a professional guardian or public guardian. This is one of the ways an estate can be drained extremely quickly. If you want to hear more about how this can happen, read this terrifying article about the way public and professional guardians are stealing from our elders.

What are a guardian’s responsibilities?
Depending on the extent of the ward’s mental capacity, a court-appointed guardian can be given near complete control over a person’s life and finances. Some of the most common duties include:

  • Paying the ward’s bills
  • Determining where they live
  • Monitoring their residence and living conditions
  • Providing consent for medical treatments
  • Deciding how their finances are handled, including how their assets are invested and if any assets should be liquidated
  • Managing real estate and other tangible personal property
  • Keeping detailed records of all their expenditures and other financial transactions
  • Making end-of-life and other palliative-care decisions
  • Reporting to the court about the ward’s status at least annually

What’s more, the court often requires detailed status reports, such as financial accounting, at regular intervals or whenever important decisions are made, such as the sale of assets.

Are guardians compensated?
Yes, guardians are entitled to reasonable compensation for their services based on the ward’s financial ability to pay. The appointed guardian is paid directly from the ward’s estate. In most cases, the compensation must be approved by the court ahead of time, and the guardian must carefully account for all of their services, the time spent on tasks on behalf of the ward, and any associated out-of-pocket expenses.

Given the huge level of responsibility and loss of control that comes with guardianship, the best course of action would be to get proper and updated estate planning in place ahead of time to ensure that if you or anyone you love becomes incapacitated, you can stay out of the court process altogether if possible.

Dedicated to empowering your family, building your wealth and defining your legacy,

Marc Garlett 91024

divorced parents 91024Consider this story. Beth’s divorce from her husband was recently finalized. Her most valuable assets are her retirement plan at work and her life insurance policy. She updated the beneficiary designations on both to be her two minor children. She did not want her ex-husband to receive the money.

Beth passes away one year after her divorce. Her children are still minors, so the retirement plan and insurance company require an adult to be appointed to receive the inheritance Beth left behind. Who does the court presumptively look to serve as the caretaker of this money? Beth’s ex-husband who is now the only living parent of the children.

Sadly, stories like Beth’s are all too familiar for the loved ones of divorced people who do not make effective use of the estate planning tools. Naming a beneficiary for retirement benefits or life insurance, or having a will can be a good start. However, the complexities of relationships, post-divorce, often render these basic tools inadequate. Luckily, there is a way to protect and control your children’s inheritance fully.

Enter the Trust

A trust allows you to coordinate and control your estate in a way that no other tool can. For those who are not yet familiar, a trust is a legal arrangement for managing your property while you are alive and quickly passing it at your death. There are a few key players in the trust. First, there is the person who created the trust, often called the Trustor, Grantor, or Settlor (this is you). Second, there’s the Trustee who manages the assets owned by the trust (usually you during your life and then anyone you select when you are no longer able to manage the assets yourself). Finally, the Beneficiaries are the people who receive the benefit of the trust (usually you during your life, and then typically children or anyone else you choose).

How a Trust Protects Your Children’s Inheritance after a Divorce

A trust protects your children’s inheritance in a few distinct ways:

  1. Since you select the Trustee, you can choose someone other than your ex-spouse to manage the assets. In fact, you can even state that the ex-spouse can never be a Trustee, if you wish. If Beth had a trust, she could have named her brother to be Trustee after her death. Her brother (rather than her ex-husband) would then oversee the children’s inheritance.
  2. Since you select the Beneficiaries, you can determine how the trust assets can be used for them. You may have long-term goals for your beneficiaries, such as college, purchasing of a first home, or starting a business. When you share your intent, your Trustee can invest the assets appropriately and ensure your legacy is used the way you want, rather than the assets being potentially wasted or used in a thoughtless way. If Beth had a trust, she could have instructed how she wanted the inheritance used, rather than leaving it to the whims of a court and her ex-husband.
  3. A fully funded trust avoids probate, so your children do not have to deal with the cost, publicity, and delay that is all-too-common in probate cases. Although “plain” beneficiary designations, like the one that Beth used, also avoid probate, they may still open the door for a guardianship or conservatorship court case, especially when your children are minors. A fully funded trust avoids these guardianship and conservatorship cases. This means more money for your intended beneficiaries and less for the lawyers and courts.

If you are divorced, it is essential to make sure your plan works precisely the way you want. Every situation is unique, but we are here to help design a plan that achieves your goals and works for your family. Give us a call today if you have any questions.

Dedicated to empowering your family, building your wealth and defining your legacy,

Marc Garlett 91024

family business father and son 91024Owning your own business can be a great endeavor that takes a lot of passion and drive. Many small business owners focus on the day-to-day management and growth of the business, rather than thinking about a time when he or she may not be in the business. This is a far too common mistake.  Future plans for your enterprise are even more important when one child works in the business but the others do not. Keeping the peace among your children after you are no longer able to participate in the business requires careful balancing of your estate plan.

Planning Ahead

Before considering whether or not to pass your business to the next generation — as opposed to selling it to a third party — make sure at least one of your children is capable of (and willing to) running the company. Once that has been established, then early planning is the next step in ensuring the best outcome. Ideally, succession planning should start at least five years before you decide to retire. And because life is unpredictable — you may become incapacitated or pass away without warning — the best time to start planning is now. There are several things to consider when planning for your small business if not all of your children are involved. It is important to keep in mind that treating your children fairly does not necessarily mean you will treat them equally when it comes to your estate planning. For this reason, being proactive will make sure your desires will be followed even after you can no longer run your company.

Factors to Consider

First, minimizing the risk of conflict among your children once you are gone requires a mindful weighing of your estate, your successor trustee, and other aspects of your estate plan to ensure your wishes are recorded and can be easily followed.

Second, you must consider the value of the business as well as control and management issues. This can be done by clearly identifying the roles and responsibilities of your successor in a written plan.

Third, if you have a sizeable estate, there are financial strategies that a knowledgeable estate planning professional can use to equalize distributions. This can also be done with other assets such as IRAs, 401(k)s, investment real estate, life insurance, as well as stocks, bonds, and/or mutual funds.

Finally, an estate planning professional can analyze how the business is capitalized in order to ensure your estate plan is fair when it comes to your children — whatever you consider fair to be in your particular circumstance. Notably, how a person’s business is organized has a direct effect on how it is treated, taxed, and administered upon his or her death.

Don’t Leave It To Chance

Ignoring or delaying estate planning for your small business is not financially prudent. As a successful business owner who already has the next generation involved in the company, you must take charge of the future so that the fruit of your hard work can continue on. More important, clearly writing down your desires will help keep your family from bickering — a likely result if you just leave the business’s future to chance. Give us a call today, so we can craft an estate plan that will allow your business to continue to thrive for generations to come.

Dedicated to empowering your family, building your wealth and defining your legacy,

Marc Garlett 91024

family loan 91024More and more, children and grandchildren are skipping the traditional bank and obtaining loans from parents or grandparents. Unfortunately, we have all heard stories of families torn apart because of disagreements over money. So, what can you do to make sure your intra-family loans help — rather than hurt — your family?

As far as estate planning is concerned, money you lend to others is legally an asset. If you have lent money to a family member, the presence of these assets in your estate can be problematic for your surviving family members. This is because your executor and successor trustee are under a legal requirement, known as fiduciary care, to collect the outstanding obligation, even if the other party is a family member.

If the amount of money that you have lent out is significant — and “significant” can be relative — it is important to document it as you plan your estate. For example, if you wish to forgive the debt there are special terms that must be included in your trust or will for this to happen. On the other hand, you may want the debt to be paid out of the inheritance the borrower is otherwise receiving. In that case, the payment of the debt from the inheritance must be addressed in your estate planning documents.

A Brief Loan Primer
A loan is a legal and financial arrangement where money is borrowed and is expected to be paid back with interest. Generally, a loan involves a promissory note, which is a signed document by the borrower containing a written promise to repay a stated sum of money to the lender in accordance with a schedule, at a specified date, or on demand. In some cases collateral, like real estate or other property, is used to secure the loan. Collateral is something pledged as security for repayment of the loan. If the borrower quits making payments, then the collateral can be taken by the lender.

Lending as an Estate Planning Tool
When properly structured and well documented, loans can be a smart estate planning tool for many families. This is because lenders (usually grandparents or parents) can essentially give access to an inheritance without any immediate gift or estate tax problems, generate a better return on their cash than they could with bank deposits, and borrowers (usually children or grandchildren) can take out loans at interest rates lower than commercial rates and with better terms. In fact, the Internal Revenue Service allows borrowers who are related to one another to pay very low rates on intra-family loans. Furthermore, the total interest paid on these types of transactions over the life of the loan stays within the family. If structured and documented properly, intra-family loans may effectively transfer money within the family, for the purchase of a home, the financing of a business, or any other purpose.

Sometimes loans can be used in sophisticated estate tax planning strategies as a way to shift assets into special estate-tax saving trusts. One variant of this technique is sometimes called an installment sale to a grantor trust. Although this sophisticated strategy and others like it are usually only appropriate for those with a net worth of at least several million dollars, other types of intra-family loans, perhaps for home improvement, an automobile purchase, or a business, can help families across the wealth spectrum.

There are a few important points to keep in mind regarding these types of loans: the loan must be well-documented, lenders should usually ask for collateral, the lender should make sure the borrower can repay the loan, and the income and estate tax implications should be examined thoroughly.

Deciding What You Want
While you were kind enough to help a member of your family by lending him or her money, do not let this become a legal dilemma in the event of your incapacity or after your death. Instead, use your estate plan to specifically express what you want to have happen regarding these assets. Before lending money, it is important to carefully consider how the loan should be structured, documented, and repaid. If you or someone you know has lent money and has questions about how this affects your estate plan, let us know and we’ll help you find the answers.

Dedicated to empowering your family, building your wealth and defining your legacy,
Marc Garlett 91024

911Like many of you, I watched the remembrances and commemorations covered on television Monday, September 11, this past week.  I thought a lot about that fateful day 16 years ago, my memories of watching the towers come down still vivid in my mind.  The horror, the sadness, still heavy on my heart.  The heroic actions of so many brave men and women still giving hope to my soul.

And then on Tuesday, the very next day, I was listening to motivational speaker Winn Claybaugh, as he addressed the Sierra Madre Rotary Club about experiencing the very same feelings I myself had just the day before.  We shared the knowledge that those thousands of people, trapped in airplanes or buildings, suddenly realized they were in the very last moments of their lives.  And we both thought about how that must have felt – but of course, we can’t really know.  The one thing we do know, however, beyond a shadow of a doubt, is that many of those people, comprehending they only had moments left to live, chose to use those precious last few seconds to make phone calls.

We’ve all heard the stories.  And we know they didn’t call their bosses, or their employees, to complain about stress in the workplace.  We know they didn’t call a neighbor or relative they were having a dispute with to take one final parting shot.  We know those that could, made phone calls to the people they loved most in the world.  And we know the simple message they conveyed was a message of love.  “I love you,” they said.  “No matter what happens, know that I love you.”

Because in the end – the literal end – nothing else mattered.  At all.  To a person, they just wanted to hear their loved one’s voice one last time.  They wanted to send one final message: “I love you.”  That was their priority; the most important thing in the world.  Nothing else mattered.  Can there be any doubt love is stronger than hate?  Can there be any mistake that what’s most important, when everything is all said and done, is the love we have for our families?

How amazing is that?! What a tribute to us as human beings. And yes, pure evil does reside in some human beings. That’s always been the case.  But there is also such pure goodness and love in so many of us.  And ultimately, this all speaks to why I love doing what I do.  Because at the very end, nothing matters but the love we have for our families.  Estate planning is the way – the only way, in fact – to guarantee that last message of love, security, and hope comes through to our loved ones loud and clear.

And when it comes right down to it, that’s the only thing that matters.  So, my question is this: have you taken the necessary steps to ensure your final message will be clearly heard and unequivocally understood by the people you love most in the world?  Estate planning can – and should be – about so much more than just legal documents.  It is – and must be – about successfully finishing the most important message of your life to the most important people in your life.

If you haven’t gotten it done yet, stop procrastinating.  Get your estate plan in place.  Don’t let the most important opportunity of your life pass you by.

Dedicated to empowering your family, building your wealth and securing your legacy,

Marc Garlett 91024

sandwich generationThe average age of parents raising children in the US continues to rise, leaving many middle-aged Americans in a category commonly referred to as the “sandwich” generation.

This growing population of professionals are often still raising kids at home when they become responsible for the care of their own aging parents. The stress and financial strain of managing the affairs of both children and parents can easily become overwhelming. The following tips, however, can help make this challenging stage of life manageable if not more enjoyable.

Assess the Financial Situation. Taking time to thoroughly understand the financial picture for your own household is imperative as you step into a role of responsibility for your aging parents. Prepare for the inevitable and avoid surprises by working with a professional to consider how your role in the care of your parent will affect the plans you are making for your family’s financial future. You’ll want a comprehensive planning process that ensures your legal, financial and insurance needs are covered appropriately.

Plan Ahead. Benjamin Franklin famously said, “Failing to plan is planning to fail.” Planning for your family’s future means preparing for the worst and hoping for the best. As you move through helping your aging parent with important Estate Planning decisions, take time to be sure your own wishes are legally binding as well. Be sure to include:

  • Medical power of attorney – appoints a person to make medical decisions if you are unable to do so
  • Durable power of attorney – designates a person to make financial decisions if you are unable to do so
  • Living will – expresses your wishes for end of life decisions
  • Will – carries out your wishes in the event of your death
  • Kids Protection Plan – designates a legal guardian for your minor children in the event of your incapacitation or death

Pay Attention to Red Flags. Even if your aging parent is still quite capable, work together to assess their financial situation carefully and be on the lookout for signs that anything is falling through the cracks. Common red flags are:

  • Frequent calls from creditors
  • Forgetfulness when it comes to bills and deadlines
  • Unopened mail

Utilize professional legal and financial support when necessary and communicate clearly so everyone knows who is responsible for what.

Practice Good Self Care. Stress is one of the most common consequences of caring for two generations at once. Balancing the responsibilities of raising children and caring for aging parents with relaxation and play is vital over the long-haul. Remember that adequate rest and good nutrition will provide you with the extra energy you’ll need when times get tough. Most importantly, remember that you don’t have to do it alone! Establish a relationship with trusted advisors who are ready to assist you when duty calls.

For example, if you schedule a Family Legacy Planning Session with us, we’ll review your current financial situation in light of your future responsibilities. With our assistance, you’ll gain the confidence of knowing you’re making the most empowered, informed and educated legal and financial decisions for yourself and the ones you love. Begin by calling our office today to schedule a Family Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.

Dedicated to empowering your family, building your wealth and securing your legacy,

Marc Garlett 91024

 

same sex couples 91024Blended families, unmarried couples, assistive reproductive technology (ART) and same-sex marriages all challenge the traditional concept of “family” – at least as it’s been known for legal purposes.

Significant changes in the way we define family culturally means families are often left without the valuable protection they need, in the event of a death or incapacity of a loved one.

As these legal definitions and our personal situations expand, so do the priorities of the modern estate plan.

No longer is estate planning just for the wealthy, who wish to save money on their taxes; it’s for all of us who want to ensure our legal system recognizes and protects the one’s we love.

For example, if you are in a life partnership you may be “married” in the eyes of your community, but not in the eyes of the law. As such, your partner would have no legal right to see you or make decisions on your behalf, if you were hospitalized.

Even if you are married, your spouse or partner would not be able to access your financial accounts without court intervention, without proper legal planning in advance. And, if you are not married, the Court is unlikely to give a non-legal spouse access and would instead appoint a professional fiduciary before allowing your unmarried partner access.

If you are part of a blended family (meaning one or both spouses have children from a prior relationship) or have children who aren’t biologically both yours and your spouse’s (or non-spouse partner), you need to include provisions in your estate plan that clearly define the inheritance rights of all children, biological or not.

It is vitally important that you clearly state any legally established relationships between you, your spouse (or non-spouse partners and loved ones) and your children, biological or otherwise, to ensure your wishes will be carried out in the event of your death or incapacity. If you do not do this, your kids could end up in the care of someone you would never want and taken out of the home of the non-biological parent they are living with.

Whatever your family’s configuration may be, estate planning is your chance to safeguard the people you love and your assets on your own terms and per your own definitions. With the uncertainty of the current political and social climate, developing a carefully crafted plan tailored to your family’s needs is more important now than ever.

Dedicated to empowering your family, building your wealth and delivering your legacy,
Marc Garlett 91024

young-family 91024Young families face different estate planning needs and challenges than those who have had a long life behind them. While established families may be concerned about what will happen to their family when they pass on, young, growing families can be more focused on what is happening to their family in the present. And you may even find it hard to justify planning for an “estate” you haven’t yet established!

But here’s the thing … if you have children or anyone else you care about, you may not have an “estate”, but you do need estate planning – if you want to ensure your loved ones wouldn’t be stuck in Court and/or conflict if anything happens to you.

Here are a few estate-planning issues important for young couples to consider as soon as they start a family:

The Care and Custody of Your Children

If you die or become incapacitated before your children reach 18, they will need a legal guardian. To ensure your children are only ever in the care of people you want and choose, you must name both temporary and long-term guardians for your children.

Identifying friends or family as the “godparent” of your child won’t cover it. You need to legally document your choice. And, naming just one person or a couple isn’t enough, either. Name at least 3 options, in case back-ups are needed.

Also, ensure that you have not just named legal guardians in your Will. This is a common mistake for those that do have planning.

If something happens to you and your child is home with a babysitter, or at school, you want to also name local people, friends or family, who would immediately be able to be called upon by authorities. And, those people need to have legal documentation on hand to step in and make immediate, short-term decisions for your littles.

We recommend a comprehensive Kids Protection Plan® to ensure there are no gaps, even for a minute, in the care of the people you love most.

The Management of Your Children’s Inheritance

Remember, when you die, the assets left to your minor children will need to be managed by someone at least until they turn eighteen. If no one is identified for this task, the court steps in and appoints “professionals” to take over the role, which can cost your children their entire inheritance.

And, it’s totally unnecessary. With just a bit of prior planning, you can keep your loved ones out of the Court system entirely and give total control to the people you know, love and trust.

The Authority to Make Decisions for You

Finally, no matter what your age is, or how big or small your assets are, you want to put in place the documentation that appoints the people you would want making decisions for you, if you cannot make your own decisions.

Once again, the focus here is on keeping the people you love out of Court during what would be a hugely stressful time for them.

Estate planning is a key part of growing up and showing up for the people you love. So, yes, you may be a young family, but once you’ve become a family, you’re not too young to plan well to make things as easy as possible for the people you love.

Far from being a morbid task, estate planning can give your young family the peace of mind, confidence, and security you desire when it comes to the future well-being of all members of your family.

Dedicated to empowering your family, increasing your wealth and building your legacy,
Marc Garlett 91024

family estate plan 91024To one degree or another, we are all a function of the social environments in which we were raised. Of course, that encompasses both positives and negatives. When it comes to money, the first exposure we have to its management is in our families. That makes good money management practices a real gift that parents can pass on to their children.

Don’t Just Buy Your Kid a Car

The greatest motivator for a teenager is freedom, and their path to that freedom is a car. When you buy your kid a car, you are overlooking one of the greatest opportunities you have to support your child to learn to be self-sufficient.

Instead, why not support him or her to earn the money to buy the car him/herself? Or, if you have an extra car already available for your child, at least require your child to pay for the gas and insurance, which will support him or her to begin to be prepared for those requirements of life in the future, when you aren’t there to provide for all the needs they have.

Kids Playing the Stock Market?

Introducing children to the stock market is not a far-fetched idea. There is plenty of information available that can be understood by kids. First off, children are very aware of products — toys and games like the CashFlow Board Game, for example. They can be introduced to the fact that the companies that make these toys are owned by people like their parents, who hold shares of stock. From there, they can be shown the daily stock prices and how they change. As they grow older, your children can begin making small stock purchases and become comfortable with investing.

Family Vacation Saving

Family vacations are usually looked back on fondly and may even be considered family traditions. Saving during the year, by children as well as parents, for an annual vacation can also be part of that tradition and help teach good money management techniques. Whether it be from jobs kids have like grass cutting or babysitting, or just from allowance savings, it will serve children well later in life to have learned the value of setting money aside for a deferred pleasure.

Estate Planning

Involve your children in your estate planning as soon as they are old enough to understand. They will feel secure knowing you’ve planned well for what would happen to them, if and when something happens to you. Have them meet the lawyer they will work with, tell them about how they will receive their inheritance and when. And, begin to talk now about how you can increase the overall family wealth you have and how you want to be cared for by them in the twilight of your life.

If you feel uncertain about how to approach these issues, contact us. Or read the books Die Wise, Being Mortal, and Family Wealth: Keeping It in the Family, all books that inform our firm’s personal process as your family lawyer.

Early Entrepreneurship

Supporting your children to think like entrepreneurs can be one of the greatest gifts you give them. As the world shifts, we are moving into a new economy in which traditional jobs don’t always provide the security they once did. In fact, technology is already replacing many of the jobs people relied on in the past. As that trend continues, the only real job security will be resourcefulness, creativity and entrepreneurship.

Consider reading the book The Last Safe Investment by Bryan Franklin and Michael Ellsberg for some more ideas around this topic or call us to discuss any of these financial management techniques further.

Dedicated to your family’s wealth, health, and happiness,
Marc Garlett 91024