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OCTOBER 2022
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Most people know estate planning is an important step in planning for the future. At the same time, some individuals put it off because they don’t want to think about their own death. It’s a scary thought. But here’s another scary thought: If you don’t plan for the future of your estate, your assets could end up in probate. Probate is the process by which the state determines where your assets go after you die. Depending on circumstances, it can be out of your family’s hands. The big reason you want to avoid probate is partly because going through probate court is a public event. It goes on public record for anyone to look up — and that includes predators and creditors, people who want to take advantage of your death to get their hands on your assets. Is Your Nest Egg Exposed to Creditors and Predators? Wills, Trusts, and Probate
decide how your estate is divided. By doing nothing, your estate will likely go through probate. Your assets could wind up in the hands of people you don’t approve of. It’s definitely cheaper now but could cost you more in the future. 2. Draft a will with various powers of attorney. This is what many people do because they want to save money and it’s fairly easy. However, a will still needs to be probated. By definition, a will is a letter to the probate judge. It instructs the probate judge on how you want your estate divided. They may respect your wishes — or they may decide to do something different. If your children decide to contest, the judge or whatever child has the best attorney, could get the lion’s share of your assets. Predators (often distant relatives) may come out of the woodwork as well and contest the contents of the will. Also, a will only is in effect when you die. There are no incapacity clauses that can help when you’re alive. For instance, if you have a stroke, car accident, etc., you might not die, but you can no longer speak or sign your name. Most people might remember the Terri Schiavo case; she was incapacitated for 15 years while her husband and family fought. 3. Establish a trust. When you and your spouse are alive, you can establish a revocable trust. This type of trust can be changed at any point during your lifetime. You can add or subtract assets and instructions. Once you both die, the trust becomes irrevocable — the terms cannot be changed. Having a trust is one of the best ways to avoid probate (and the fees associated with probate) and ensure your assets are divided precisely as you wish. While probate isn’t the worst thing in the world, it has many downsides that cannot be avoided. For one, it’s time-consuming. Each state has slightly different rules, and you can expect your estate to be tied up in probate anywhere between nine months to three years. Once the estate enters probate, you can’t touch any assets in the estate until terms have been finalized. So, if the family house is in probate, it cannot be sold until after the process is completed. If the housing market takes a turn for the worse, you’re out of luck. The house will sit there until a judge says otherwise. The same applies to any investment accounts that might be part of the estate. If the market crashes, those accounts may not be touched. It’s completely out of your hands, and that can be frustrating. The other thing to note is that probate is not free. Payment comes out of your assets. Your family may end up losing 5%–15% of the value of your estate due to probate fees, along with accounting fees, court fees, attorney fees, and so on. Probate can be expensive.
There are three ways people can handle their estate planning:
1. Do nothing. Yes, this is an option, but it’s risky. There are zero guarantees your assets will be passed along according to your wishes — especially if your wishes don’t exist in writing. Essentially, if you don’t have a will, the state will provide you with one. A judge who doesn’t know you or your family will
More Income and Less Taxes in Retirement Seminar Oct. 4 & 6 — 6:30 p.m. Iroquois Club (Clarkston) Oct. 11 & 13 — 6:30 p.m. Filippas (Shelby Township) Oct. 18 & 19 — 6:00 p.m. Filippas (Shelby Township) Hosted by Krissten Petersmarck Oct. 25 & 27 — 6:30 p.m. Camp Ticonderoga (Troy)
Register today at BridgeriverLLC.com! Free dinner provided.
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A TERRIFYING TALL TALE
Halloween Candy Myths That Won’t Die
Halloween has many rituals: hanging up spooky decorations, choosing costumes, and going trick-or-treating. And one nearly universal routine is parents checking their children’s candy stash and throwing out anything deemed suspicious. People consider it an unfortunate but necessary part of life, and the danger seems vast. There are supposedly razor blades in apples, candy laced with drugs, and sweet treats made with poison. But the fear is almost entirely unfounded. Stories of poisoned Halloween candy trace back to at least the 1960s, and the New Jersey legislature passed a law against tampering with apples in 1968. It seemed prudent since 13 people reported finding razor blades in apples that year. However, at least 75% of those cases were hoaxes, and there was insufficient information about the others to determine their veracity. Several prominent op-eds warned against tainted candy in the 1970s, and fear increased after a 1982 incident where multiple people died in Chicago from cyanide-laced Tylenol. If a maniac could poison consumers like that, people asked, why wouldn’t they target Halloween candy? Meanwhile, the stories have kept coming: a child who died of a heroin overdose, Pixy Stix filled with cyanide, and childhood sweets substituted with cannabis candy.
Some stories had a kernel of truth but did
not match the original news reports. The heroin overdose originated with a family member’s stash; they blamed candy as a
Though more than 400 million “Goosebumps” books have been printed internationally, the series was anything but a surefire hit. Author R. L. Stine didn’t even want to write the series, but his wife/editor convinced him that horror stories for 7–11-year-olds would do well. The series started as four books, beginning with “Welcome to the Dead House,” a tale about zombie children. In retrospect, Stine conceded that this first volume was too scary and didn’t inject enough humor. By the second book, “Stay Out of the Basement,” he believed he had his winning formula. But the series didn’t take off right away. There was no marketing budget, so “Goosebumps” relied on word of mouth to find kids who wanted to read them. Eventually, children learned about the series from friends, and it became a runaway smash beloved for its creepy tales, light jokes, and twisty endings. Stine mined his own childhood fears for story ideas, and kids gobbled them up, begging their parents for each new release. When Stine ran out of stories, he resorted to creating book titles and inventing plots around them. Most books took him three weeks to write, while the illustrator spent an average of 35 hours on the covers. “Goosebumps” soon became too popular to stay on the page alone, and a TV series began airing in 1995. In 2012, a live-action film starring Jack Black hit theaters. And there are now seven unique “Goosebumps” book series. Even countless library challenges from concerned parents in the 1990s couldn’t hold the franchise back. Adults looking to relive their youth through the series will find brisk reading and likely some amusement at what used to make their skin crawl. But if you have a child who is up for something slightly scary, it would be much more fun to enjoy them together as a family. Try reading aloud to each other or starting a family book club. It’s the perfect way to get into a family-friendly Halloween state of mind. coverup. One father tragically murdered his son with poisoned candy and blamed it on trick-or-treating. And while it’s true that some edible THC products look like regular candy, they’re also far more expensive, and users are unlikely to give them away for free. Sociologist Joel Best has studied claims of contaminated Halloween candy since 1985 and has never once confirmed an intentional poisoning or injury by a non-family member. He speculates that people circulate the legends each year almost as a tradition. Further, examining potentially dangerous candy makes parents feel in control compared to many other dangers their children face. So, inspect your child’s trick-or-treat haul if you must. After all, it’s tradition. But rest assured that the risk is only as authentic as the fake cobwebs on your front porch.
2 www.BridgeriverLLC.com Children of the ’90s (and those who raised them) will likely remember the spooky preteen book series “Goosebumps.” Over 62 volumes, author R.L. Stine terrified and delighted young thrill-seekers, and the expanded series continues to do so today. The first book was released 30 years ago in 1992, and the year’s scariest month is the perfect time to revisit its origins and legacy. Behind the Classic Kids’ Book Series ‘Goosebumps’
HUNGRY FOR HEALTH The appetite for plant-based foods isn’t slowing down — in fact, it’s rising. According to a 2021 Bloomberg report, by 2030, the plant-based food industry is projected to hit $162 billion! Eating plant-based means finding food sources that originate mainly from plants, inherently focusing on fresh produce, whole grains, beans, legumes, seeds, and nuts. Let’s explore the benefits of eating plant-based! contain phytochemicals, which shield the cells in your body from damage and have awesome anti-inflammatory properties. THE SHIFT TOWARD PLANT-BASED EATING
Plant-based may reduce your risk of cancer. The nutrients present in plant-based foods reduce the risk of getting several types of cancer. Plant-based foods
So, load up on those legumes, whole grains, fruits, and veggies — your body will thank you!
Plant-based keeps your heart healthy. According to studies posted in the Journal of the American Heart Association, consuming a diet high in plant-based foods may lower the risk of heart attacks and cardiovascular disease. Meat contains saturated fat, which studies show increases the risk of heart problems. But, it’s also important to make sure that your plant-based choices are heart friendly too! Load up on fruits and vegetables, whole grains, and legumes and avoid refined grains, fatty foods, and sugary beverages! Plant-based lowers your blood pressure. Plant-based diets are linked to lower blood pressure, which greatly reduces the risk for strokes, cardiovascular disease, and Type 2 diabetes. The risk of hypertension, or high blood pressure, increases in people who consume large amounts of animal products such as meat and dairy. Even just limiting the amount of meat and dairy in your diet is proven to make a difference!
Plant-based can help you lose weight. Typically, plant-based foods are lower in calorie
density than meats and other animal products, thus, you can fill up on fruits, vegetables, and whole grains without the same calorie burden you may experience from other sources of food.
With all of the health-based advantages of shifting toward a plant-based diet, more people are catching on and making the switch or reducing their meat intake. What’s on your plate?
CONTINUED FROM COVER... You might think having a will helps your family avoid some of these costs. When it comes to upfront costs, yes, there is truth in that. Many attorneys are more than happy to draft up a will for next to nothing. But those same attorneys also know your estate will likely end up in probate. And whom will your family call when that happens? That same attorney who drafted the will. Another way people try to save money is to list their son or daughter as the executor of their estate. That’s fine, but you still have to hire an attorney if the estate goes through probate, so the cost savings won’t last long. The bottom line: Having a conversation about your estate and developing an estate plan is crucial. If you have specific desires about how you want your assets
Creamy Baked Pumpkin Risotto
Inspired by FoodNetwork.com
Ingredients
• 5 cups of low-sodium chicken or vegetable broth • 2 cups Arborio rice • 2 cups of pumpkin, diced • 1 1/2 cups canned pumpkin purée • 1/2 yellow onion, minced
• Salt, to taste • Pepper, to taste • 1/2 cup fresh basil, chopped • 1/4 cup grated Parmesan cheese • 2 tbsp mascarpone cheese • 2 tbsp olive oil
Directions
handled, get it in writing and set up a trust. You don’t want to take any chances. Probate is a headache and helping your family avoid probate is one of the best things you can do for them. -Dan Casey
1. Heat the oven to 400 F and arrange a rack in the middle. 2. In a 3-quart baking dish, combine broth, rice, diced and puréed pumpkin, and onion. 3. Season with salt and pepper, then stir until evenly combined. 4. Cover tightly with aluminum foil and bake until water has been absorbed and rice granules are puffed. 5. Remove from the oven and stir in basil, grated Parmesan cheese, mascarpone cheese, and olive oil.
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INSIDE
This Issue
Is Your Nest Egg Exposed to Creditors and Predators?
The Truth Behind Poisoned Halloween Candy
‘Goosebumps’ Still Thrills 30 Years Later
The Benefits of Plant-Based Eating
Creamy Baked Pumpkin Risotto
Forget Sitting — Squat Instead!
POP A SQUAT
The Healthy Alternative to Sitting
Many experts say sitting is the new smoking, but many of us spend a large portion of our waking hours doing it. That’s not true for every country, though — instead of sitting to relax, people in many places squat. Most Americans who try the same thing will probably find it an uncomfortable experience. But research shows the benefits of squatting and learning how to do it right.
Deep squatting also improves digestive health. Our colons can’t fully straighten when we sit, making it harder to relieve ourselves. While most Americans are unlikely to replace their commodes with squatting toilets, squatting throughout the day still reduces the risk of constipation. And devices like the Squatty Potty allow you to mimic a squatting position while sitting on your regular toilet. But healthy squatting requires proper technique. Start by placing your heels at hip distance and leave them firmly planted on the ground. Then, engage your core and keep your back straight while lowering your hips until they’re below your knees and your bottom is slightly above the floor. If you struggle to adopt this pose, you’re not alone. Try using a piece of furniture to steady yourself as you get used to it and start with short periods of squatting.
Squatting was once common everywhere. People squatted to give birth, use the bathroom, eat, and read. Our bodies were designed for it, which is why young children do it naturally. But our muscles lose strength and definition when we don’t use them. So, most American adults cannot squat properly for even a few minutes, let alone long periods. Multiple studies, however, show that we’re worse off for trading squats for chairs. Experts argue that lower back pain and hip problems are far less common in nations where squatting remains popular. By placing our back in an unnatural position, sitting has made us comfortable to the point of injury. Meanwhile, a proper squat involves perfect posture, stretches your back, creates additional mobility in your hips, and improves flexibility.
You might never end up binging Netflix in a squat, but even the version of squats people do at the gym will help improve strength and flexibility. It only takes a few minutes out of your day and could dramatically impact your health. So, get out of that chair! Squatting comes to us naturally — most of us just need a refresher course.
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