Check out our February newsletter!
405-843-6100 | 918-615-2700 | ParmanLaw.com February 2026
New Laws to Consider in the New Year And Remembering Charlie Munger’s Wisdom
Clients and Friends,
higher-income workers making catch-up contributions to their 401(k) accounts will be required to put the extra money into a Roth 401(k) account. This catch-up contribution will be made with after-tax dollars. This means you will lose the upfront tax breaks for those extra contributions that traditional 401(k) accounts offer. Be sure to check with your 401(k) plan administrator. Some 401(k) plans will automatically make the adjustment and direct your catch-up contribution to a Roth account; others require employees to consent to the switch, which means you risk losing out on catch-up contributions if you fail to act. REMINDER: We host a 30-minute live webcast covering a wide range of financial topics, primarily focused on questions, challenges, and opportunities we hear from clients who work with us through Intrepid Financial, our financial and investment planning affiliate. Call us at 405-843-6100 for details. You will not want to miss these programs. Finally, on Nov. 28, 2023, legendary investor Warren Buffett lost his partner and investment muse Charlie Munger, just days before his 100th birthday. Since 1978, Munger served as vice chairman of Berkshire Hathaway and sat next to Buffett during the highly entertaining and informative Q&A session at the Berkshire Hathaway annual meetings. Besides his investment expertise, Munger was known for his sharp mind, perspective, and understanding of human nature. Buffett once said, “Charlie is the architect of Berkshire Hathaway. I run the construction crew.” Charlie certainly left a mark on Berkshire Hathaway and those in his life. Many of Munger’s thoughts were captured in his book, “Poor Charlie’s Almanac.”
There are too many to share here, but for a glimpse:
Happy New Year! Science says these years pass no faster than since the beginning of time, but it sure doesn’t feel that way. The phrase “time flies” emerged for some reason. As life’s race continues, we must remember that what’s important is the journey and not the destination. So, soak up every minute of every day. Like a dry sponge. Look more closely at every sunrise and sunset. There will never be another exactly like it. There are no guarantees we will see another. My mantra, and I hope yours as well, is that every day is a great day. Some are a little better than others, but they’re all great days. During the journey, acknowledge those in your life with gratitude and blessings. What else matters? Be someone who lives with intention rather than circumstances. ALERT #1: Another reminder for those who have created any irrevocable grantor trust for purposes of protecting assets if you go to a nursing home. A couple of rules have changed that may cause us to recommend changes to your trust. Call to set up either a meeting or a phone call. We are experiencing an increase in the number of inquiries about how to best address the issues of long-term care. People are concerned about how to protect cash flow and assets when a loved one enters a nursing home. Too many are unprepared for a rapid deterioration in the health of a loved one. Too many are unprepared for the shock of a $6,000–$10,000 per month nursing home expense. Too many start too late to protect assets. Like others who are calling our office, you may have questions. If so, call 405-843-6100 to arrange a phone consultation to review your situation. ALERT #2: Be aware that under a new law that went into effect on Jan. 1, 2026,
• “Take a simple idea, and take it seriously.”
• “Spend each day trying to be a little wiser than you were when you woke up.” • “To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people.” • “It is remarkable how much long-term advantage people like us have gotten by being consistently not stupid, instead of trying to be very intelligent.” • “Show me the incentive and I’ll show you the outcome.” • “It’s been my experience in life, if you just keep thinking and reading, you don’t have to work.” He said his children thought of him as a book with two legs. The lives of Buffett and Munger demonstrate that there’s a ton of life to be lived after age 65. Both emphasized lifelong learning, discipline, multidisciplinary thinking, and avoiding doing stupid things. They focused on simplicity, incentives, and patience for success in life and investing. Until his last days, Munger was heavily involved in various investments and joint ventures. Until he was nearly 95, Buffett continued as Berkshire’s CEO, only recently handing over the reins. Both men show us that neither our
professional nor personal life has to end at 65. How we treat those years is up to us.
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The Price of Planning Ahead
INFLATION’S HIDDEN IMPACT ON YOUR ESTATE ago. Homes, cars, and investments all fluctuate in value due to inflation. In the 1950s, the average home sold for about $7,400. Today, it’s well over $370,000. Wages have also increased, albeit at a slower pace. That gap explains why inflation matters when estate planning.
Most of us notice inflation when we check out at the grocery store, not when we think about our estate plan. Prices for everyday items are creeping up, but those same price changes can also impact the value of what we own. When that happens, our estate plan may need a second look. Inflation means that money doesn’t stretch as far as it used to. A dollar today buys less than it did a few years
When the cost of goods and property rises, the total value of our estate rises with it. That sounds positive, but it can also push an estate closer to federal or state tax thresholds. A house valued at $1 million today might be worth $1.5 million in a few years, and that extra half-million could create new tax questions. Families sometimes find themselves paying more in taxes, only to watch those assets drop in value soon after. The best way to handle this issue is to plan early and keep your plans updated. We can start by reviewing our estate annually and comparing it to current estate tax exemptions. Remember, your retirement accounts and the death benefit from life insurance are includable in your taxable estate. Giving modest gifts to family or charities can reduce overall value while allowing us to see the results in our lifetimes. Inflation is constantly changing, and our plans should adapt to it accordingly. Reviewing what we’ve built every year helps ensure that our loved ones receive what we intend, without unwelcome surprises when the time comes.
MEET THE BEAR WITH A BIONIC PAW A SECOND CHANCE FOR VASI
On the outskirts of Bengaluru in India, a rescued sloth bear is getting around on all fours again. His name is Vasikaran (Vasi, for short), and after years of moving gingerly on three legs, he’s making history. At the Bannerghatta Bear Rescue Center, Vasi recently became the first animal of his kind in the world to receive a prosthetic paw, and his caregivers say he’s taken to it with ease. Vasi’s story began with tragedy. Years ago, he was caught in a poacher’s wire snare that left his back paw so badly injured it had to be amputated. Wildlife SOS, a nonprofit that rescues and rehabilitates India’s wildlife, brought him to the rescue center over five years ago. Once he recovered, the staff realized he couldn’t survive in the wild with only three working legs, so they built him a permanent home. Vasi, who’s known for his calm personality
and love of peanut butter, quickly became one of the team’s favorite residents.
Then came the chance to give him something more. Derrick Campana, founder of Bionic Pets and known for fitting prosthetics on everything from raccoons to elephants, took on the challenge of designing one for a wild bear. First, the team helped Vasi adjust by wrapping his leg in soft cloth. Once the bear grew comfortable, Campana created a mold and built a custom paw using plaster for flexibility and crampons to mimic claws. When Vasi tried it on, he stood taller. Soon, he was walking evenly and balancing his weight on all four legs. Caregivers say it improved his confidence, posture, and mood. The device is removed occasionally to keep it from
irritating him, but most days, he strolls through his enclosure without any issue.
Vasi’s now walking around the way he was meant to and thriving because of it. For him and everyone who helped him get there, that’s what a happy ending looks like.
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In 1989, a children’s show featuring singing puppets managed something no politician had. It slipped quietly across the Iron Curtain. For the first time, “Fraggle Rock” appeared on television in the USSR, bringing Jim Henson’s underground world of Fraggles, Doozers, and Gorgs into Soviet living rooms. The story began years earlier. By the early 1980s, Henson was already famous for “The Muppet Show” and “Sesame Street,” but he wanted to create something bigger than ratings. He dreamed of a show that carried a message of peace and wasn’t bound by national borders or languages. Puppets, he believed, were the perfect characters for that type of program. The result was “Fraggle Rock,” a hopeful experiment in connection. The Fraggles didn’t reach Russia overnight. During the Cold War, few American programs managed to cross the Iron Curtain. But in 1982, Henson’s fantasy film “The Dark Crystal” became a surprise hit at the Moscow Film Festival. There were sold-out screenings and crowds lined up outside theaters. That success opened a door. As the Soviet Union began to change under Mikhail Gorbachev’s reforms, Soviet television grew more open to ideas from outside countries. On Jan. 8, 1989, Soviet audiences saw their first episode of “Fraggle Rock.” The response was overwhelming. Ratings were unprecedented, and later that year, the entire first season began airing, dubbed with a Russian narrator. It arrived months before the Berlin Wall fell. For Henson, who died the following spring, the Fraggles’ appearance on Soviet airwaves was one of his last great accomplishments. After Henson’s passing, his dream lived on. A few years later, Russia produced its own version of “Sesame Street.” For a time, children on both sides of the world grew up watching the same small creatures solve problems with laughter. Maybe that was the peace Henson hoped for all along. Fraggle Rock’s Cold War Breakthrough Puppets Behind the Iron Curtain
MARGIE’S KITCHEN FUNERAL SOUP
by Darlene Parman
A few weeks ago, my dear friend, Jackie Hall, reminded me of this recipe when we were discussing the good food we enjoyed growing up in Texas. We remember when someone passed away, everyone at church prepared food for the deceased’s family. No one bought pre-prepared food from the store. Oh No! Everything was made from scratch! I have shared Funeral Potatoes with you in the past, but this is called Funeral Soup. It is made with ingredients you have in your pantry, is easy to prepare, and feeds a crowd! On a side note, you might remember the famous Cowboys Restaurant from the ‘80s in Oklahoma City. It was notorious for cowboys, oilmen, and country dancing. It was owned by Jackie and Bob Hall. Jackie and I used to plan lunch menus for the restaurant during our power walks. She wanted hearty food, totally different from the steak and mountain oysters they served at night. In fact, she used many of the recipes I have shared with you in this newsletter. Good ol’ fashioned home cookin’ like our mothers used to make. In fact, my mom and dad (Margie, whom this article is named after, and Harold) loved going to Cowboys when they visited from Texas.
Ingredients
• 1 lb ground beef, browned and drained • 1 can Rotel tomatoes • 1 can diced tomatoes • 1 can tomato juice (8 oz) • 1 can corn, drained, or equal amount of frozen corn • 1 can pinto beans, undrained
• 1 can red kidney beans, undrained • 1 can black beans, undrained • 1 package taco seasoning • 1 package Ranch seasoning • 1 onion, chopped and sautéed (optional)
Directions 1. Place everything in a large pot. Bring to a boil and cook on low for 20 minutes. I think it is best made the day before to blend the flavors. Serve with corn bread and enjoy! If you want us to share a recipe in Margie’s Kitchen, please email it to Info@ParmanLaw.com. We’ll feature it in our newsletter or on our website!
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Oklahoma City: 405-843-6100 Tulsa: 918-615-2700 ParmanLaw.com
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INSIDE THIS ISSUE
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New Year, New Laws: Are You Ready?
Inflation-Proofing Your Estate for the Future
A Gentle Giant’s Return
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Funeral Soup
The Day the Fraggles Reached the USSR
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A Hollywood Actor’s Thoughtful Final Act
THE PLAN BEHIND THE LEGEND Estate Lessons From Paul Newman
Paul Newman was more than a movie legend. He built race cars, funded hospitals, and turned salad dressing into one of the most successful charitable brands in the world. But one of his quietest accomplishments happened away from the spotlight. When he planned his estate, he handled it with the same thought and discipline he brought to everything else. When he passed away in 2008, Newman’s estate was worth hundreds of millions of dollars. That alone isn’t what makes his plan remarkable. What stands out is how carefully he put it together. He had a detailed will, a private trust to keep his finances out of the public
foundation that still bears his name. Newman’s image, his company, and the earnings that continue to fund projects across the country also went to the foundation. He also took care of the practical side of things. By setting up the right trusts, he delayed certain taxes, ensuring his wife would be cared for before the government took its share. Newman even included provisions for various asset types, including his race cars and airplanes. He directed the proceeds from those to his residuary estate. Ultimately, his plan was practical, generous, and designed to last.
eye, and two trusted people ready to manage the details. Newman even included a clause discouraging legal disputes because he knew arguments over money can divide even the closest of families. His decisions reflected what mattered in his life. Newman’s wife, Joanne Woodward, kept their home and personal belongings. His Oscars, Golden Globes, and other awards went to the
Most of us don’t have a Hollywood fortune to divide, but we still face the same questions. Whom do we trust to handle things when we’re gone? What should continue to work long after we stop? Newman showed that good planning has less to do with money and more to do with making things clear for the people you care about. And his name still funds good work, which is a legacy worth having.
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Thank You For Your Trust In Us! (Round 4) As you know, we are a referral-based practice, so we want to acknowledge and express our deep gratitude to everyone who has referred loved ones and friends to us. It is not something we take for granted or lightly, and we strive to earn your trust every day. We know we would not exist nor have the privilege of being of service but for you, our Valued Client. To acknowledge you, we will list everyone who has referred someone over the last few years here. The list is long, so it will require multiple newsletters to get the job done. And we know we are not perfect, so if you have referred someone and your name does not appear, our sincere apologies for the oversight. So… THANK YOU from the bottom of our hearts for Your trust and confidence in us. ~Your Parman & Easterday Family Louise B.; Robert & Carolyn F.; Kathleen W.; Kory S.; Patricia O'L.; Jesse & Michelle C.; Robert & Debbra R.; Jim & Iva E.; Austin W.; Grace S.; Jake & Dani W.; Barbara G.; Richard & Drew G.; Greg & Cheryl A.; Kerry & Denise H.; Kenn C.; Brent G.; Katie S.; Greg & Denna B.; Connie S.; Bill & Kathleen M.; Katie J.; Bill & Lori G.; Harvey B.; RoseAnn H.; Norman G.; Cassie B.; Brian & Amber B.; Steve & Stephanie J.; Jack C.; Renita P.; Allen G.; Clinton & Jackie M.; Charmaine C.; Jill M.; Jim W.; Bill & Barb S.; Verta L.; Brenton H.; Clarence & Betty V.; Joanne & Twyla W.; Paul & Karla W.; John & Joy I.; Randy W.; John B.; Robert & Linda E.
clip from The Albany Ledger where Vance proudly displays his car and a picture of Larry with one of the Model A Group Members proudly showing off her car.
Parman & Easterday loves supporting several local and national non-profits. That’s why we are always excited to join thousands of others for the annual Oklahoma City Walk to End Alzheimer’s. This year provided perfect weather as individuals, families, companies, and organizations from all “walks” of life united to raise critical funds for care, support, and research for those impacted by Alzheimer’s.
Out and About in the Community: Model A Education Program and The Walk to End Alzheimer’s
We were honored when the Oklahoma City Model A Group invited Larry Parman to be a guest speaker on Estate Planning. As you may know, the Model A was Ford’s successor to the iconic Model T, and became just as famous. This was a sentimental opportunity for Larry as his dad, Vance Parman, was a car collector and owned one of the Model A’s used in the movie Paper Moon . So, just for fun, we’ve included a news
Scott, Darlene, and Larry Parman (l to r) at the opening ceremony of the OKC Walk to End Alzheimer’s.
Reminder: We Can Help with Probate Our Crusade is to help all families avoid the ravages and perils of probate. However, very sadly and unfortunately, statistics show over 50% of Oklahomans (and Americans in general) do not have a Trust set up. As a result, when they pass, they often leave a complete mess behind for their loved ones to deal with. Knowing this to be the case, we wanted to remind you that we specialize in making Probate as easy and painless as possible. If you have brothers, sisters, parents, aunts, uncles, or any other family member who did not do a Trust and now you are stuck dealing with a Probate, call us at 405-843-6100 to see how we may best help you. Or if you know someone dealing with Probate, have them call us as well. To host Parman & Easterday as a guest speaker to educate your group or organization (ie. church, civic, business, social, fraternal, political, school, etc.) – either in-person or via webinar, call Scott at 405-843-6100.
lickety-split, call us at 405-843-6100 or have them call us at the same number. Or email us at info@parmanlaw.com.
Upcoming Education Events: For those interested in learning how estate planning can benefit your family and as a refresher for Clients… Wills, Trusts, and Estate Planning Made Easy and Painless:
Learn How to Protect Your Loved Ones, Hard-Earned Money, Belongings & More Tuesday, March 17, 2026 2 – 4 PM or 6 – 8 PM Hampton Inn 1833 Warren Dr, Midwest City, OK 73110 Tuesday, March 31, 2026 2 – 4 PM or 6 – 8 PM Hilton Garden Inn Norman 700 Copperfield Dr, Norman, OK 73072 RSVP at 405-286-9009 (24-hr hotline) or www.okcprogram.com Dates We Will Be In Our Tulsa Office: Wednesday, March 4, 2026 Wednesday, April 8, 2026 Wednesday, May 6, 2026 Wednesday, June 10, 2026 Wednesday, July 15, 2026 Office Address: Memorial Place 7633 E. 63rd Place; Tulsa, OK 74133 Call us at 918-615-2700 or 405-843-6100 to schedule your FREE Client Trust Review or if you have a family member or friend who would like to visit with us. If you or anyone you know would like to receive this free newsletter, please call 405-843-6100 to request being added to our mailing list.
FREE Book for Your Loved Ones & Friends! Do you have loved ones or friends who may benefit from discovering how estate planning can provide them the same Peace of Mind you enjoy? If so, show them how much you care by gifting them a FREE copy of Larry Parman’s best- selling book, The Straight Shooter’s Guide to Estate
Planning: A No-Nonsense, Straight Forward, Easy-to- Read Book Explaining Wills, Trusts, & Estate Plans for the Rest of Us . This book will help them understand the basics of Estate Planning and discover how it can benefit their personal and/or family’s security, quality-of-life, and well-being. To have this free Gift shipped to them
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