Check out our May newsletter!
(502) 426-0000 ∙ www.Roberts.cpa 201 Townepark Circle, Ste B-1 Louisville, KY 40243 163 Dennis Drive Lexington, KY 40503 FALLEN BUT NEVER FORGOTTEN Smart Money Monthly A TRIBUTE TO HEROIC HEARTS "Americans may not only pay tribute to our honored dead but also unite in prayer for success in our search for a just and lasting peace." May 2025
all, the ability to spend time with the people we love and care for is one of the greatest freedoms our military heroes continue to provide us — it’s important to truly understand and appreciate why the holiday exists and how it came to be. First, it’s no accident that Memorial Day falls in May, as spring is when beautiful flowers bloom. After the Civil War, it became common for citizens to use them to decorate the graves of fallen soldiers on both sides of the conflict, commemorating the dead and adding some brightness to the dark realities of what our nation had just experienced. The trend quickly gained considerable traction, leading to the first official Decoration Day on May 30, 1868. Held at Arlington National Cemetery in Virginia, the event drew 5,000 people who decorated the graves of 20,000 Confederate and Union soldiers. Decoration Day was renamed Memorial Day after World War II, and it became a federal holiday in 1971. With our 54th federal Memorial Day right around the corner, I’d like to bring to your attention back to the JFK quote that began this article. As we honor those who made the ultimate sacrifice, we must also do our part to create a world where conflict is less common. We may not all agree on how our country is run or how people express the freedoms they’ve been afforded, but we must never lose sight of the fact that people gave their lives for things we often take for granted — and that many of these brave souls were barely into adulthood when they passed. As you celebrate this Memorial Day, be sure to relax, have fun, and enjoy great company — but also take that all-important midafternoon minute to mourn and thank those who made your joy possible. If you lost a family member or dear loved one in combat, know that everything they gave will be forever felt in the hearts of a grateful
— President John F. Kennedy, "Prayer for Peace," Memorial Day 1962 Sixty of the most meaningful minutes you’ll spend all year are just a few days away. In December 2000, then-President Bill Clinton signed the National Moment of Remembrance Act, which designated 3 p.m. local time every Memorial Day as the time when U.S. citizens are encouraged to take at least a minute to reflect on the heroism of those American military members who never made it home from serving in combat to protect our lives and liberties. The tradition’s groundwork had been laid three years earlier when radio and TV stations across the country played “Taps” simultaneously. No matter where I am on the 26th of this month, I know I’ll pause at 3 p.m. and give a minute to those who died giving us everything. For many people, Memorial Day equals a day off from work and a chance to have a long weekend of barbecues and other get-togethers with family and friends. While there’s nothing wrong with that — after
nation. If a loved one currently serves in our military somewhere in the world and can't be with you on the 26th, know that we respect and appreciate them beyond measure. May they make it home safe. —Kevin Roberts
(502) 426-0000 ∙ 1
Beyond the Will DO YOU NEED A HEALTH CARE PROXY?
It can be difficult to think about, but imagine being rushed to the hospital after a sudden accident. You’re unconscious and unable to speak. Do you know who will make critical decisions on your behalf? This is the role of a surrogate decision-maker. If you haven’t created a health care power of attorney naming a health care proxy, default surrogate decision-making will come into play.
don’t always know. This is why planning is essential — so your wishes are understood and respected. Avoiding Confusion and Uncertainty If you have preferences about medical treatments, don’t keep them a secret. Discussing them with your closest friends and family members is always advisable so everyone understands and is on the same page. Designating a health care proxy takes things a step further. You can choose anyone as long as they are competent and at least 18 years old. Many people also choose an alternative surrogate to make decisions if their primary choice is unavailable. The designation document must be signed in the presence of two adult witnesses, although requirements may vary by state. Reviewing designations every few years and after major life events will keep them current. As with all long-term plans, taking a few steps now will give you peace of mind and ensure your wishes are clear. In the case of surrogate decision-making, planning also ensures your voice is heard even when you can’t speak for yourself.
Most of the time, your next of kin will fill this role. State statutes vary, but the order of priority typically starts with a person’s spouse or domestic partner. From there, it moves to adult children, parents, and siblings. Some states also authorize close friends with default surrogate decision-making powers when others with higher priority are unavailable. Preparing for the Unexpected The process for granting decision-making powers in critical health care situations is well thought out but imperfect. What happens when there are complex family dynamics or an estranged relative is legally first in line to make decisions? What about family members who can’t agree? Real-life situations can get complicated fast. Fortunately, default surrogate decision-makers must consider the known values and wishes of the person they represent. Health care professionals must also follow these wishes, which they
MELTDOWN AND MASTERSTROKE
Celebrity Investment Tragedy and Triumph
The financial antics of A-list celebrities are always fascinating, especially when their economic exploits involve vast sums of money most of us can only dream of having. Here’s a tale of a celebrity investment gone horribly wrong — and a look at one positive decision that shook the universe. From Georgia to the (Almost) Poor House Legendary actress Kim Basinger has been landing on marquees and in headlines for decades, but 1989 was undoubtedly the most memorable year of her career. That March, she bought an entire town — Braselton, Georgia — for $20 million (roughly $55 million today) with dreams of turning it into a film-themed tourist destination. Her high ambitions matched her box-office charm at the time, as she was mere months away from starring as Vicki Vale in director Tim Burton’s “Batman,” the year’s highest-grossing film. Unfortunately, even the Caped Crusader couldn't save her from an eventual financial calamity. Just five years later, bankruptcy loomed as bad financial decisions left her in serious debt. Sadly, her Braselton dreams went bust and she was forced to sell the land for a mere $1 million. 20 (or 600) Million Reasons to Get Stock There’s no doubt actor William Shatner has made a pretty penny in his career, but how wealthy he became through his stock choices in particular is a matter of debate. Although he’s best known for his legendary role as
the intergalactic traveler Captain Kirk on “Star Trek,” his most lucrative role may have been as the spokesperson for Earth-based travel service Priceline. Impressed by what the company offered, he declined his acting fee in favor of taking stock in the fledgling enterprise . Depending on the news source, Shatner’s decision yielded either an unbelievable $600 million-plus or a measly $20 million. While that’s a pretty wide margin, even the lower figure indicates some shrewd business sense in making an impressive fortune out of reading a few lines in front of a TV camera.
2 ∙ www.Roberts.cpa
Published by Newsletter Pro • www.NewsletterPro.com
Inspired by TheKitchn.com
1. In a microwave-safe bowl, put 1/2 cup of cream in the microwave for 1 minute. 2. Stir in chocolate and let sit for 5 minutes, then whisk until smooth. 3. In a separate bowl, beat the remaining 1 cup of cream with a hand mixer or whisk until soft peaks form. 4. Set aside 1/2 cup of whipped cream for topping, and continue whipping the remaining cream until stiff peaks form. 5. Gently fold whipped cream into the cooled chocolate mixture in batches, mixing until combined but still light and fluffy. 6. Spoon into four ramekins or glasses, and refrigerate for at least 1 hour before serving. 7. Top with reserved whipped cream and garnish if desired. • 1 1/2 cup heavy cream, divided • 1 cup milk chocolate or dark chocolate chips (6 oz) • Optional Garnish: Grated chocolate, crushed nuts, toffee, or brittle DIRECTIONS INGREDIENTS Silky Chocolate Mousse
Cinematic Crowns 2 Must-See Films for Classic Movie Day If you’re looking for something to do on the third Friday of May, it’s the perfect time to sit back and enjoy the magic of cinema. May 16 is National Classic Movie Day. Depending on your age and taste in films, an old classic movie could be either “Casablanca” or “Cars.” But for me, someone who grew up in the 1980s, two movies immediately stand out as true American classics that never get old and are worth checking out — In high school, I was fascinated by the world of aviation and even considered becoming a pilot. Naturally, I loved “Top Gun” when I saw it in 1986. Tom Cruise’s Maverick was the perfect character for the teenage boys in the audience — cocky, confident, and ready for high-stakes adventures. The competition and eventual friendship between Maverick and his nemesis, Iceman (played by Val Kilmer), is still riveting. Of course, you can’t go wrong with the movie soundtrack, as Kenny Loggins’ “Danger Zone” was one of that summer's big songs. With its PG rating, “Top Gun” is a family-friendly film that still holds up — just remember that the death of one of the movie’s main characters during its second half may be too much for some younger viewers to handle. ‘Phone Home’ for Family Fun Family entertainment has taken many forms over the years, but 1982’s “E.T.: The Extra-Terrestrial” is still the gold standard for child-friendly film fare with heart. I’ll never forget seeing it in the theater as a child and being amazed by the storyline and visuals. Audiences worldwide genuinely sympathized with the stranded alien — aka E.T. — as he befriended a human family and attempted to “phone home” to his planet and be rescued. Although a few potential moments in the film may be upsetting for little ones — mainly when it appears that E.T. may have passed away just before the film’s climactic conclusion — there’s plenty of wholesome fun to be had. Oh, and at the risk of spoiling a 43-year-old movie, everything works out fine for our little brown friend in the end. whether for the first time or the 50th. An Amazing Airborne Adventure
SUDOKU
Am I on track financially? Scan our QR code for help!
(502) 426-0000 ∙ 3
Published by Newsletter Pro • www.NewsletterPro.com
PRSRT STD US POSTAGE PAID BOISE, ID PERMIT 411
201 Townepark Circle, Ste B-1 Louisville, KY 40243 FOLLOW US!
INSIDE THIS ISSUE 1 A Moment for Missing Military 2 Don’t Leave Medical Decisions to Chance Bad Investing vs. Good Trading 3 ‘80s Legends Revisited Silky Chocolate Mousse 4 Estate Planning Pitfalls You Need to Know Putting together an estate plan is like writing the final chapter of your book, and you don’t want to make your book a horror story. Avoiding common estate planning mistakes will ensure your family isn’t confused, stressed, or surprised when it comes time to fulfill your final wishes. Forgetting to Keep Your Plans Fresh Life changes quickly. Marriage and divorce, births, and property sales are just a few events that can affect your estate plan. It’s easy to forget to account for these changes, but the result won’t be easy for your family to forget. Imagine leaving all your property to a former spouse because you never updated your will. This might sound crazy, but it happens. If you created your estate plan years ago and never updated it, refresh it now. Creating a DIY Disaster It’s easy to be attracted to a DIY solution. They’re convenient and appear affordable, and who wouldn’t want to save time and a few bucks? Even Aretha Franklin, the “Queen of Soul,” had a DIY
Common Estate Planning Mistakes ARE YOU MAKING ONE?
estate plan. But like many people who go the do- it-yourself route, her situation didn’t work out well. Remember, you’re not a lawyer, and mistakes are easy to make when you use online tools for help. Instead of trying to save a few pennies, talk to a The executor of your will has an important job. They handle paperwork, settle debts, and ensure assets go to the right people. People often base their choice of executor on family connections only, but you must also consider qualifications. For instance, your eldest child might be a logical choice. But what if they live thousands of miles away and haven’t managed their finances well? It could mean delays, mistakes, and a major headache for everyone involved. The best move is to choose a reliable and organized executor, even if they’re not a family member. What story will you leave behind? Keeping your plans updated, seeking professional help, and making careful decisions will ensure it’s the one you want. lawyer and get your plan right. Naming the Wrong Executor
4 ∙ www.Roberts.cpa
Page 1 Page 2 Page 3 Page 4Made with FlippingBook Ebook Creator