Another beautiful Northern California day. A photographer friend of mine, Kristi Garrett, was kind enough to send me rose trimming instructions. Now I wonder if trimming will cause major shock as it is so warm. I meant to complete this in January but I don’t think it would have mattered. Hopefully I have not completely lost the opportunity this year.

I saw the movie Money Ball. Brad Pitt was great, and one of my favorites anyway. The story was so interesting because the “formula for success” was all about the numbers. Not the traditional criteria used to chose the best players, but pure statistics. Today’s article is short and to the point, and draws upon ideas from the movie. For your investments, including your business, to flourish, you must be in it, you must be invested yourself to expect to get anything out.

I am off to a crab feed (yum) on Saturday. Otherwise, this is my last lacrosse-free weekend as lacrosse starts next Saturday!

Enjoy your President’s Day Holiday!

Christine

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Money Ball for Your Investment Strategy

by Christine Faulkner, Esq.

Did you catch the movie Money Ball starring Brad Pitt? If not, here’s a quick primer.

Spoiler Alert!

The premise of the movie is simple. The Oakland A’s, a major league baseball team, has a budget of only $40 million per year. The “big boys”—the New York Yankees, for example—have budgets that well exceed $100 million per year. Given that set of circumstances, with the deck so stacked against them, how did the A’s ever manage to win?

They changed the rules of the game. That’s how.

No, they didn’t change the baseball rulebook. They changed the unwritten rules of recruiting the best players. While most teams focused on (and paid for) athletic talent, the A’s went back to basics. They essentially asked, “What is the fundamental premise of baseball?” The premise is to score runs and to prevent the other team from scoring runs. Pretty simple.

What wasn’t obvious to all the teams in baseball, however, is that factors other than athletic talent play a role in scoring runs. For example, a particular player might not be super fast or have the best arm, but he might just find a way to get on base more often than other players, which sets him up to score a run more often than players with superior athletic ability.

How This Applies to You

Whether you know it or not, you are just like the Oakland A’s. Actually, you’re in a far worse position, because the investment industry is full of the world’s top brainpower and financial muscle. So how can you come out on top? How can you win when the deck is so stacked against you?

Change the Rules

Most investment advisors suggest investing in stocks with low P/E ratio or high dividend yields, in exactly the same way that most baseball teams focus on athletic talent. But ask yourself this: What wins the investment game? If you score runs, you win in baseball. If your company creates shareholder wealth, the stock price follows and your investments are winners.

It’s interesting to note that one of the best indicators of a company’s ability to produce wealth is the vested interest of the managers. Though you’ll almost never hear the talking heads acknowledge it, managers with significant wealth tied up in their companies tend to deliver more cash to shareholders over the long-term. This, of course, intuitively makes sense.

Warren Buffet put it best when he quoted the Bible in reference to this concept: “For where your treasure is, there will be your heart also.”

This Means Two Things for You

1. If you’re an investor, focus on companies in which the CEO has a huge chunk of his net worth tied up in the business.
2. It just might be the case that the best way to create shareholder wealth is to invest in yourself, in your own business, or in an enterprise that you control. This applies even if you’re not a stock market investor.

The second observation simply goes a little deeper into the point of this article. Managers do best when there is something on the line—when there’s something to lose. So if you want to do your best and reach your full potential . . . put yourself out there.

If you want to discuss starting your own business, or if you already have a business but need consistent, professional legal support, call our office today. If you mention “Money Ball,” we’ll waive the $1,250 fee that we normally charge for a LIFT™ (Legal, Insurance, Financial, Tax) Business Audit.

Hi Again:

I had a discussions with Cameron and Daniel on the way to school last week while listening to NPR. We were listening to the primary news from Florida and I asked the boys if they had any idea who Newt Gingrich or Mitt Romney were. Nope, no idea. In that brief 10 minute ride to school, we discussed the basic ideology of being a Republican vs. Democrat vs. Independant. I was surprised that they both had some understanding of what it means to be a member of each party. Educating our youth on the importance of participating in the political process is something that falls on our shoulders as parents, bringing up the next generation of leaders.

Participating is what is important, i.e. showing up, even if you are not “up” on all of the issues. One issue near and dear to my heart is the state of the estate tax. I talk to all of my clients and potential clients about the impact of reducing the estate tax exemption-which is almost a done deal next year. If you are at all concerned (hint: you should be) about how the estate tax exemption affects your assets, check out the article below, and then come see me. After we meet, will you have a detailed understanding of just how the exemption affects you, and your assets, and your financial planning.!

Have a great week!

Wishing you Health, Happiness and a life filled with Passion!

Christine

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Election Year Antics

by Christine Faulkner, Esq.

Welcome to politics in 2012! Did you sign up for what we’re getting in America? In many ways, nobody is happy with the landscape. Most of us—Independents, Democrats, and Republicans alike—are unhappy (or even disgusted) with politics in general. It’s at the point of being most disgruntled, however, that we need to pay the most attention. It’s the point at which real transformation can occur.

Pushing through the urge to disengage and through the resistance to be involved is difficult, but if we don’t all take responsibility for it, then we’ll end up in a place that we don’t want to be in. Think about it like this: Who is taking responsibility for our current situation? The answer is that we should all be taking responsibility, whether we played our role actively are passively.

More Reasons To Be Involved Than Ever Before

Even if the typical issues like taxes, the economy, social matters, job creation, globalization, and fiscal policy aren’t enough to motivate you to be involved, there is one issue that will probably get you off the couch this election season: YOUR MONEY!

On December 31st of this year, a law that provides very good tax treatment for estates will sunset, unless it is renewed by Congress and the President. The current law exempts from taxation estates of $5 million or less ($10 million for married couples). That means that most folks currently fall completely outside the realm of taxation.

If the current law does expire, the law that replaces it will likely tax estates that exceed the $1 million mark. In other words, the new law will almost certainly cast a much wider net, and if you are at all concerned about your wealth, then you should be paying attention to the 2012 elections and writing to your representatives in Congress. Every dollar in your bank account is a reason to be more involved than ever before.

It Can Actually Be Fun

The idea is to fully express yourself, and it’s okay to have some fun while doing it. While the issues are very serious, there’s no reason that you have to take yourself too seriously, even when you’re talking politics with friends and family. When you talk about your favorite candidates, talk about the issues and encourage your loved ones of voting age to research those issues and where the candidates stand on those issues. And smile while you’re doing it!

An election year also presents an opportunity to teach your kids about our electoral system, the reasons it exists, and the importance of being involved. Kids really do believe that they can make a difference in the world, and that idea should be nurtured, since children really are our future.

What You Can Do

Even if the beneficial estate tax laws sunset in 2012, you can take action today to prevent losing significant benefits. There are several things you can do. You can give gifts, you can create a trust, and there are some other tricks that can likely help you save on estate taxes.

If you have questions about establishing an estate plan, please don’t wait to call our offices. Time is ticking. If you call our office today and mention this article by name, we’ll give you a Family Wealth Planning Session™ free of charge . . . a $750 value, absolutely free of charge. Don’t wait. November and election time could honestly be too late.

Hi!

I am unfortunately having a flare up of spine issues again. I have taken it easy for almost a week, felt better, on the mend slowly and overdid it this morning in my haste to get out the door. Kids running late….. Yada, yada. Hoping to get beyond this really soon. I’m trying hard to keep things in perspective and not get frustrated over my limitations, which with luck are just temporary! My boys and Dave have been great, helping with the easy stuff that has now become difficult.

College is just around the corner for Daniel so financial aid planning will soon be upon us. Today’s article will guide you in the basics of financial aid applications for your college bound students. Always good to know what, when and how.

Cava & Faulkner is a unique estate planning firm supporting you in ALL aspects of planning for you family’s future

Wishing you Health, Happiness and a life filled with Passion!

Christine

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Sending The Kids Off To College

by Christine Faulkner, Esq.

Have you started thinking about the cost of a college education? Any good financial and estate plan should include provisions for financing the cost of education for your children. There are many options available to help you save for college, including college 529 savings plans, pre-paid tuition plans, and plans that allow you to lock in ever-escalating tuition rates.

Regardless of how you choose to save, when it comes time to send your kids to college, you’re going to have to complete the Free Application for Federal Student Aid, affectionately known as FAFSA by students everywhere. In order for your kids to qualify for any form of financial aid—loans, grants, or school scholarships—you’ll be required to complete the FAFSA.

FAFSA is the first step in applying for financial aid, and it’s the cornerstone of any and all awards of financial assistance.

Fast FAFSA Tips – File Early

A lot of financial aid money is allocated on a first-come, first-served basis. In other words, you need to have a sense of urgency, and the entire process begins with filing your FAFSA. While the federal deadline for completing the FAFSA is June 30th, the FAFSA can be filed any time after January 1st. Many states have deadlines that are much earlier than June 30th, and it’s a well-known fact that in some situations, students who file early get more generous awards.

One common objection to filing the FAFSA early is that detailed tax information isn’t available in January. That’s easily overcome. The answer is that you should gather financial information and make informed, educated guesses on the FAFSA. You’ll have an opportunity to update the FAFSA later, after you’ve actually filed your tax returns. Just remember to check the “will file” box on the FAFSA, and the Department of Education will send you an email reminder to update the form in April.

Be Thorough

Schools typically audit about 30% of FAFSA applications. If your application is audited and it contains mistakes, you’ll waste valuable time. The moral is that you need to be thorough and accurate when completing the FAFSA. Gather all the information you’ll need and take the time to really focus while completing this document. Take note that you’ll need more than just your adjusted gross income (“AGI”). You’ll have to add any contributions to pre-tax retirement plans like 401(k) or IRA accounts.

Other Odds and Ends

If you’re divorced, then the FAFSA is filled out for the household (parent and step-parent, if applicable) in which your student spends most of his or her time. The other parent must also complete a supplemental form to the FAFSA.

The FAFSA can be completed online, and it can be re-filed each year (as is required) online too. This method is preferable, since you’ll be given a PIN for access to revise and update your application at any time. Filing online will also help you reduce mistakes, since the online application has a guidance screen that will answer questions that typically arise while completing the form.

You don’t have to fill out a FAFSA for each school that you’re applying to. Rather, you can indicate the schools where you’re applying on the FAFSA, and your information will be transmitted to each of those colleges. If you filed online, you can update your list of schools at any time.

Part of Parenting

Helping your kids figure out how to pay for college is part of parenting. So is making sure that you have an adequate estate plan in place. This primer on the FAFSA is a service that we’re providing, because we want to help you take care of the details. If you’re interested to learn how we can help you form an estate plan, contact our offices and ask to schedule a Family Wealth Planning Session™.

I have had a crazy week and month. It seems that January for me and my family has been a whole lotta being sick and tired. I have been down at least 4 days this month due to illness and just now slowly getting over a major back strain. I have no idea even how I strained it but I guess my body has a way of telling me to slow down. Lots of distractions taking me away from my work and my business. I will be playing catch up working in the office this weekend. (not one of my favorite things)!

Have you ever felt like you are spinning your wheels, working all the time and accomplishing very little. If you are like me, you have moments where you run around like crazy but end up questioning if you wasted your entire day. This is pretty normal, but minimizing distractions and employing strategies to do just that will allow much greater productivity, but more to the point, more creativity. Cultivating time management skills will help leverage your time freeing you up to do what is most important for your business. Likewise, minimizing distractions will pave the way for greater productivity and satisfaction both in and with your work.

Enjoy your weekend!

Wishing you Health, Happiness and a life filled with Passion!

Christine

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Create a Distraction Free Zone

by Christine Faulkner, Esq.

Entrepreneurs are visionaries. That means envisioning the future and effectively communicating that vision to stakeholders in your business, specifically employees. If you can get employees to “buy in” to your vision and vest themselves in achieving it, then your job is more than half way finished.

Managers determine what tasks need to be accomplished in order to achieve the strategic vision. It’s the manager who decides who should be completing which tasks and holding people accountable for getting the job done.

Technicians are constantly aware of systems, and they are constantly thinking about how systems can be made more efficient. Technicians do the actual work.

In most cases, business owners spend their time being technicians. It is, after all, technical capabilities that make most businesses possible in the first place. But unless the visionary and management roles are fulfilled, your business will stagnate or fail.

Cause and Effect

Have you ever complained that there’s just not time to work on being a good manager and visionary? Have you ever thought that you’re too busy being a technician to worry about the strategic posture of your business? If so, you’re not alone.

What if the issue of time management is not preventing you from doing strategic and managerial work . . . what if it’s a result of the fact that you haven’t done that work in the first place? Take a moment to think about that concept.

Types of Distractions

There are generally two types of distractions that can prevent business owners from taking the time to develop strategic and managerial missions:

• Internal distractions – these come from a lack of discipline, self-organization, or a failure to maintain a view of the big picture.
• External distractions – these come from a lack of structure, organization, or clear boundaries between you and your employees.



Create a Strategy Zone

Here are some tips to help you devote time to being a visionary and manager:

•  Put an uninterrupted hour on your calendar every day for strategic work. Go to a place where your focus won’t be under attack. Turn off the internet and your phone, and take notes the old fashioned way. Go to a library or coffee shop or sit in your car. In short, do whatever it takes to minimize outside distractions.
• Let your employees know that your strategic thinking time is strictly off limits. Communicate the importance of your “closed door” hour, and be firm. One good policy is to say, “unless you’d contact me about this on my cell phone after hours, then it can wait.”
• If you spend this strategic time in your office, then put an inbox outside your office so that your employees can drop off communications without disturbing you. Make sure you respond to these messages quickly, lest your strategy become ineffective due to you not holding up your end of the bargain.



Where We Fit In

We counsel lots of local businesses. Specifically, we provide legal support to make sure that your business has all the benefits that it possibly can under the laws of our state. If you’d like to learn how we can help you plan for strategic growth, contact our offices today. We’d be happy to provide you with a LIFT (Legal, Insurance, Finance, and Tax) Business Audit™ absolutely free of charge (though we normally charge $1,250). Contact our office today and schedule

January is almost over and I already feel behind. I have many goals this year and feel that time is already slipping through my hands. My son Daniel has already chosen classes for his sophomore year. When I think of my eldest son, I realize how so very important Daniel’s choices will be. How he exercises his autonomy will determine his future options. Yikes. Same for Cameron but he has a few years to really lay the foundation for smart choices.

Speaking of smart choices, advanced estate planning may be something you need in the very near future, if the estate tax exemption drops like a rock as we expect in 2013. Currently the exemption is $5,250,000 per person. Next year though,the exemption is expected to drop to $1,000,000 per person. Life insurance proceeds are considered part of your estate for estate tax purposes, so unless you are interested in paying Uncle Sam $.55 on the dollar for every dollar over your exemption, you might like to better understand your options, for both estate tax avoidance and/ or asset protection. Both are extremely important considerations when working with your estate planning professional. So read on for a few ideas on protecting your most important assets!

Wishing you Health, Happiness and a life filled with Passion!

Christine

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Different Kinds of Estate Planning Tools

by Christine Faulkner, Esq.

The type of trust we most commonly discuss on this site is, without a doubt, the revocable living trust. While revocable living trusts are certainly effective in making sure that your estate avoids a lengthy and expensive probate process, they aren’t an effective way to protect your assets or accomplish other goals. The truth is that trusts and other estate planning tools serve all sorts of purposes. Today we are going to discuss a few of the objectives served by different types of estate planning vehicles.

Irrevocable Life Insurance Trusts

If you have a life insurance policy and die, the proceeds will be part of your estate. In some circumstances, this can result in an unnecessary tax liability. You can remove proceeds of life insurance from your estate by placing your policies into an irrevocable life insurance trust (an “ILIT”).

In many cases, ILITs are used both to own life insurance policies and to be the beneficiary of the policies. This gives you the option to make sure that insurance proceeds are held in trust and protected against irresponsible spending, creditors, or ex-spouses. It also means that you can designate proceeds to benefit your spouse, children, grandchildren, or anyone else you want to make sure is cared for.

Keep Control, Get Paid, and Give Away . . . All At the Same Time

Limited liability companies (“LLCs”) are typically thought of as business entities, but they can and often do serve estate planning purposes. Here’s how it works: You create an LLC and transfer assets into it. Those assets can range from real estate to precious metals to cash in a bank account or even stocks and bonds. You make your children (or other heirs) members of the LLC, which essentially gives them an ownership interest.

Finally, when you create the LLC, you designate yourself as the manager of the entity. That gives you full control, and it also gives you the right to get paid from the assets within the LLC for your role as manager. You can also retain a membership interest for yourself, which is advisable.

The beauty of using an LLC is that it has an asset protection feature in addition to the estate planning feature. Specifically, if anyone sues you personally, they typically won’t be able to get at the assets in the LLC! Though it’s not really relevant for LLCs used as estate planning vehicles, the reverse is true as well: If the LLC gets sued, your personal assets would be shielded. This latter feature is what makes LLCs such great business vehicles.

There are other structures that can be adapted for use as estate planning tools as well. The family limited partnership is one such vehicle.

The Bottom Line

The bottom line is that there are thousands of variations of estate plans that can be formed given the universe of tools available to attorneys. With all those options, the only one way that you can be sure you’re getting the right plan for you is by consulting with a professional who has a vested interest in making sure that your plan is perfectly fit to your circumstances. The boilerplate forms available online just simply aren’t going to get the job done in most cases.

If you’re interested in sitting down with an attorney who will take the time to understand your situation and help you plan for the future, then call our offices today. If you mention this article by name, we will meet with you for free, even though our Family Wealth Planning Sessions™ normally cost $750! Hurry, because our calendar fills up very, very quickly, and you simply can’t afford to wait on this.

I hope you like the change in our weather. Boy, the rain is a long time coming and now, it finally feels like winter to me. Perhaps the Sierras will gety some snow, which would make for a really fun weekend away with the family.

As an entrepreneur in the age of the internet and our global society, I bet you struggle with ideas on branding and communicating your unique message. I just finished a discussion about Howard Schultz, who created the Starbucks stores. Starbucks is an enigma in this economy, i.e. customers flooding in to buy coffee when they have no job and can’t pay the mortgage. What gives? If you are interested in how this company came into being and gained phenomenal success, then read “Pour Your Heart into It- How Starbucks Built a Company One Cup at a Time” by Howard Schultz. . It’s a great and easy read, providing insight in the creativity but more to the point, intestinal fortitude required to go the distance.

While you may not look to build a behemoth company like Starbucks, you probably want to attract more of your ideal clients. Consider the pointers below when identifying who you ideally wish to serve and then crafting content for your website, Facebook and Twitter pages, newsletters and company literature which really moves these people.

Enjoy!

Wishing you Health, Happiness and a life filled with Passion!

Christine

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The Tip of the Iceberg

by Christine Faulkner, Esq.



Your Plan for Revenue Growth in 2012

Do you have a marketing plan in place for 2012 yet? If not, you’d better get started on one. It’s not too late yet, but time is ticking. You can do four simple things this year to drive your revenue upward and achieve greater growth in 2012 than you saw in 2011.

We’re not talking about touchy feely resolutions here. Rather, this article is about taking specific actions that will give you a leg up on your competition and give you the edge necessary to drive major opportunities through the front door of your business.

Who Is Your Perfect Customer?

You need to know your ideal client inside and out. What are their struggles and problem areas? What kinds of results are they looking for? Specifically, how do you ease their pain or increase their pleasure?

Understanding these questions (and the answers to them) will make you a much more effective marketer. It will allow you to focus on the benefits that matter most to your audience, and it will help you avoid wasting time and promotional energy on the wrong leads. Do a careful study on the leads you’ve converted into sales and the ones you’ve lost. Ask yourself “why?” in both cases.

In short, you need to work to identify and understand your ideal client, and then go find more prospects like them.

Craft a Unique Message

Focus your attention on delivering a unique message to your ideal audience. You need to grab attention, or else you’ll just be “another competitor.” Once you know what outcomes your ideal clients value, focus your energy on showcasing the ways in which you deliver those outcomes. Focus on the benefits you provide, rather than just the service or product, and you’ll build a valuable brand rather than just a commodity.

Hone the Conversation

Most business owners have the same conversations over and over again but with different clients. When was the last time you analyzed your message? You need to introduce insights that go the extra mile. You know the conversations and your message inside and out, so anticipate where your clients are being led and ask if it’s where they really want to be led. If it’s not, then make a change. Your clients will value you and your business more if you challenge their assumptions and make them think in new ways that lead to greater satisfaction by solving their problems. The first step here is very simple: Listen to your clients very, very closely. Then practice your pitch over and over and over.

Don’t Be Afraid to Promote Yourself

PT Barnum once said, “Without promotion something terrible happens . . . Nothing!” You need to get your business on the map, whether you promote yourself and your business through a simple blog or a coordinated assault on the public via social media, press releases, print advertising, or even television commercials.

Opportunities to promote your business are everywhere. The question is where are your ideal clients hanging out and what are they paying attention to? You need to figure that out, and then you can place your message directly into their hands. Build brand awareness by educating the crowds that follow you, and eventually you might even have a word-of-mouth following.

Tip of the Iceberg

This article and the many others that we write are just the tip of the iceberg in terms of the ways in which we can help your business (even if you’re just in the initial planning stages of starting your first business). Contact our offices today and mention this article by name, and will give you a free LIFT™ (Legal, Insurance, Finance, Tax) Business Audit normally priced at $1,250. You literally have nothing to lose and lots of knowledge to gain, so don’t wait on this offer.

Happy Martin King Jr Day! After a great weekend in San Francisco where Daniel’s U-19 lacrosse team missed winning the championship by 1 point, we are enjoying the holiday with the boys.

Business planning, like estate planning, addresses various needs, including control & asset protection. Sometimes planning involves elements of both. The family limited partnership allows parents or grandparents to maintain control over assets while providing asset protection, contrary to some irrevocable trust planning which removes unfettered control. The FLP may be a useful estate planning tool for your family.

Wishing you Health, Happiness and a life filled with Passion!

Christine

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Business Entity Estate Planning

by Christine Faulkner, Esq.

When people think of estate planning, the first ideas that typically come to mind are of wills, trusts, powers of attorney, and guardianship arrangements. Traditionally, those instruments have been closely associated with estate planning simply because they are legal tools exclusively dedicated to helping people pass on their assets or otherwise ensure that loved ones are cared for.

 While the traditional tools work very well at accomplishing their designated tasks, you might be surprised to learn that they are not the only tools available for estate planning.

Business Entities

 Certain types of business entities have features that make them very good estate planning tools. Consider limited partnerships, for example. A limited partnership has very interesting features that date back to the 16th or 17th century, when shipping companies needed to raise capital for expeditions to the New World and India. The shippers had a unique expertise in their maritime knowledge and ability to deliver cargo, but they lacked the capital needed to build new ships and undertake expeditions.

Governments recognized the value of shipping enterprises and developed an entity that allowed the ventures to proceed. Today the entity is known as the limited partnership. The shippers—the ones with the expertise—were the general partners of the ventures they promoted. They made all the decisions regarding the business, and they exerted complete control over the enterprise. They were also on the hook for all of the obligations incurred by the limited partnership. In other words, the general partners had no corporate veil to hide behind. They were “generally liable” for the full extent of the debts owed by the partnership. 

The limited partners, on the other hand, were pure investors. They had no say in the operation of the business, but they were given protection from creditors of the business. The most a limited partner could lose in a venture was the amount he or she had invested.

So to recap, general partners had control and unlimited liability for debts. Limited partners had no control but only limited liability.

Limited partnerships work the same way today.

Making it a Family LP

Limited partnerships today can be treated by the IRS as Family Limited Partnerships, which is really just recognition by the IRS that a limited partnership is being used for estate planning purposes. In a typical case, parents serve as general partners and make their children and even their grandchildren limited partners. The parents then maintain control of the entity and manage the assets as they see fit, while the children (or other heirs) own only a beneficial interest. The good news is that by doing this you avoid the necessity of willing the assets held by the limited partnership. That’s because you don’t own them, even though you still exert control over them while alive! 

The most beautiful aspect of this type of planning is that in many cases it provides a layer of asset protection for items owned by a limited partnership. The protection is often on par with that provided by sophisticated trusts but without the issues inherent in trusts (e.g. lack of control or protection for assets).

Let’s Talk More About It

If you are thinking of forming an estate plan in 2012, maybe a limited partnership will be the way for you to go. Or you might be the perfect candidate for a more traditional plan. The bottom line is that we can help you formulate and implement a custom plan that fits your specific needs, regardless of whether you are an elderly person or a young entrepreneur on the rise. Contact our office and mention this article by name, and we’ll provide you with a Family Wealth Planning Session™ valued at $750 for absolutely no cost.

I am keeping this short and sweet as I am at the grocery store shopping for what I hope will be a fabulous dinner for my sweethearts, the people who matter most in my life: my husband and boys. Yes, I am chipping away at my resolution to prepare healthier and more diverse meals. For tonight’s entree: pork steaks with port wine & figs a la Nigela Lawson. Love her recipes!

Today’s comment is all about getting into action. Don’t just talk about your goals & plans. Promise yourself that you WILL put them into play and see what happens. 2012 may or may not be the end of your world, but either way, make sure your legacy is the one you chose.

Bon Appetit!  Wishing you Health, Happiness and a life filled with Passion!

Christine

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Making 2012 Count

by Christine Faulkner, Esq.

It’s no secret that 2012 marks the end of the Mayan Calendar. What that means, however, is anyone’s guess. Maybe it means that the end of the world is imminent (though that’s not likely). Perhaps the Mayans just got tired of plotting time and decided to continue writing their calendar in a few hundred years. Maybe, just maybe the last day of the Mayan Calendar signifies a new awakening and a higher consciousness that will usher in a new era for humanity.

Or maybe it’s just a day on the calendar, and we can make it whatever we want it to be.

How Will Your World End?

Ayn Rand wrote one of the most widely read novels in history when she penned “Atlas Shrugged”. In an interview, Rand once said something to effect that the world would end when she died.

Does that statement make Ayn Rand the most self-centered person ever? Probably not, though she did write another book on the virtues of selfishness. That’s beside the point. What Rand meant by her statement is that at death, her world would end. And since we all live in our own worlds . . . since it’s impossible to live in anyone else’s world or to walk in another person’s shoes, death is the end of the world for all of us.

Have you ever thought of it in those terms? If not, maybe 2012 will be the beginning of some new beliefs for you.

The Point to All of This

There is a point to all of this. Specifically, it’s this: Life is important. The importance is defined by the meaning we choose to assign to events, and it is defined by the decisions we make and the impact we have on our loved ones.

We are generally good at making choices. We choose careers and modes of productivity to impact our planet, sometimes even long after we’re gone. We choose spouses, friends, and hobbies. Life is about choice.

In some sense, death is about choice, too.

Choices That Take Effect When Our Worlds End

For far too long, estate planning has been considered something that only the elderly need—for those people who are established and on the downhill side of life. Fortunately, there has been a popular movement aimed at showing young professionals and families that they too need estate planning, especially when young children are involved.

The reason is simple: An estate plan puts you in the driver’s seat. It allows you to choose who will raise your children, who will manage your assets, and who will carry on your legacy if your world happens to end prematurely. These are all choices you can make today that will have the effect of law, whether you pass away next week or in sixty years. And if you fail to make these choices, they will be left to a judge—a total stranger with the discretion to act as he or she chooses without regard to what you “might have wanted.”

Make 2012 Count

You can make 2012 count in a major way by starting the year off with bold action. Don’t wait to create a plan. Waiting will never help when it comes to estate planning, and it could be absolutely catastrophic in some cases. Make your plan now. Set the wheels in motion so that if anything does happen to you, you’ll be remembered as the person who made sure everyone was cared for.

If you decide to create an estate plan this year, call our offices and mention this article by name. If you do that, we’ll provide you with a Family Wealth Planning Session absolutely free of charge (normally valued at $750). You literally have nothing to gain by waiting . . . so don’t.