Check out the latest edition of our newsletter!
APRIL 2025
The Role Reversal Conversations to Have With Your Parents About the Future 561-955-8515 SiegelLawGroup.com
Many Americans will face a challenging situation in which they’re raising their own family while watching their parents grow older. As you look at your children, you may think about everything you’re willing to do to ensure they’re taken care of and can live comfortably. Our parents did the same for us as we were growing up and, in many cases, supported us well into adulthood. As everyone continues to age, the roles often reverse. The kids must step in and help their parents with specific responsibilities and decisions. Once you become more involved in this part of your parent’s life, you may become curious about their long-term wishes. As I’ve mentioned, nobody enjoys thinking about their own mortality and what happens after they’re gone. This extends to our loved ones and can easily become a more difficult thought. Many of us talk to our parents daily or weekly, and imagining the day those phone calls stop is heartbreaking, but it happens to everyone. That’s just a part of life. However, we can make the situation easier by discussing what comes next with our parents. Now is the perfect time to sit down with your parents, discuss and understand their wishes, and talk about their Estate Plans. The first thing I’ll tell you is that this will not be the easiest conversation of your life. You are discussing heavy topics with people you love, and you may discover things you were unaware of before. We like to think we know exactly what our parents’ wishes and desires are, but you never know for sure unless you actually speak to them. Everyone has different priorities, and you may not be privy to all the specifics of your parents’ lives, including their finances, health, or needs. From there, ask about their wishes and desires. Ideally, they already have an Estate Plan established, but if not, you should encourage them to do so, as it will ensure their wishes actually come to fruition. You should discuss their last Will and Testament and any Trusts they may have. This is not an opportunity for you to convince them to adjust their plans to suit your needs better. It’s imperative that you go into this conversation with an open mind, ready to understand their decisions even if you disagree with them.
You’ll also want to discuss who will become their powers of attorney in case something happens to them and they need someone to act on their behalf. If they choose you for that vital role, you want to ensure you’re willing to carry out their wishes. Another topic you should discuss, which can be difficult, is long-term care planning. This can be especially challenging because most people want to age in place. They don’t want to consider a long-term care or assisted living facility, but it might be the best option at some point. Listen to their concerns and create a plan together. If you have questions about having this conversation or establishing an Estate Plan, please do not hesitate to call us. I know how difficult it can be to manage your elderly parents’ affairs while supporting your own family, which is why I wrote the book “Caught in the Middle.”
Having this conversation will remove all lingering questions from the situation, providing peace of mind for everyone involved.
-Barry Siegel
1 561-955-8515
Crash and Burn Why Fad Diets Fail
Thank You to Our
“You are an essential link in the chain helping us bring stellar service to our clients! Thank you for your hard work and dedication. You are much appreciated!” “I’m truly grateful to work alongside such a dedicated, caring and hardworking team. Thank you all for your hard work and for always supporting one another!” - Julie Administrative Professionals!
As summer draws near, many people are embracing detox diets, intermittent fasting, low-carb programs, or other buzzy regimens to slim down. Before you fall for the latest dieting fad, consider this: About 95% of all these diets fail to produce lasting weight loss! Why are so many popular dieting regimens self-defeating? Here are the primary reasons and better strategies to try. DISRUPTING YOUR METABOLISM Crash diets clash with your body’s basic needs, setting you up for intense cravings and rebound eating. Low-carb and ultra-low-calorie regimens may seem to work quickly because they reduce water weight and deplete the body’s stored glycogen. Depriving your body of essential nutrients, however, can trigger cravings and binge eating and can slow your resting metabolic rate so much that you gain more weight in the future. Intermittent fasting is also hard to sustain because it clashes with a dieter’s natural hunger patterns and daily routines. SIDESTEPPING UNDERLYING ISSUES Many people try to diet without addressing the underlying reasons they overeat. Perhaps eating is a coping mechanism for dealing with low self-esteem or past trauma. Without exploring those reasons and finding alternative comforts, a crash diet is unlikely to work in the long run. PERPETUATING THE YO-YO CYCLE Restrictive diets also fail to change a person’s basic relationship with food. Many dieters slash their intake to ease their guilt or to punish themselves for binging. This can result in a repeated diet- and-binge cycle, reinforcing the dieter’s despair. Over time, the muscle loss and metabolic slowdown caused by diet-and-binge cycles make it even harder to slim down. SO, WHAT DOES WORK? Consider working with a dietitian or a therapist to examine your relationship with food. Rather than cutting out entire food groups, balance your plate with a mix of vegetables, lean protein, whole grains, and healthy fat. Read food labels and monitor your daily calories, protein, carbs, fats, fiber, and sugar. Finally, focus on small changes you can stick with rather than a drastic diet overhaul. As you work with your body instead of against it, remember: Our bodies crave consistency!
2 SiegelLawGroup.com
Protecting More Than Assets How a Special Needs Trust Safeguards Benefits and Future
One of the reasons many people establish an Estate Plan is to ensure their children have everything they need if something were to happen to them. This becomes even more critical when children with special needs are involved. When you’re gone, how will they continue with the same quality of life? You may think you could leave an inheritance to help cover the costs not associated with Medicaid or Supplemental Security Income (SSI), but that could actually put those benefits at risk. Instead, you should look into a Special Needs Trust. A Special Needs Trust operates similarly to an Irrevocable Trust with extra caveats. You establish and fund your Trust before naming a trustee to oversee the distribution of assets. The trustee role is incredibly important as it comes with a high level of responsibility. In most cases, you’ll want to consider a professional trustee like an accountant, attorney, or institution, as they’ll ensure the trust does not interfere with the beneficiary’s public benefits.
A Special Needs Trust is not meant to cover everything the beneficiary will ever need. It is designed to help supplement what they receive from SSI or Medicaid, which is why they can’t receive the money directly through an inheritance. To qualify for SSI, individuals cannot possess assets worth more than $2,000. Assets within a Trust do not count toward that amount. Trustees must be very careful about distributing assets, as they don’t want to push the asset amount over $2,000 or use funds from the Trust for things that SSI or Medicaid already cover. While various programs and government benefits can help offset the costs associated with food, shelter, transportation, and medical care,
funds from the Trust can be used to pay for things like personal grooming, clothing, out-of-pocket medical or dental costs, education, home furnishings, vacations, and more. Establishing and funding a Special Needs Trust is one of the best ways to protect your child, as it can spread your disbursements, avoid big tax payments, and supplement government benefits. You should not wait on this, as you want to ensure they are protected if the unimaginable happens.
Sudoku
Check Out Our Seminars
• Tuesday, April 8, 1-5 p.m., Spanish River Library, Boca Raton • Tuesday, May 13, 1-5 p.m., Spanish River Library, Boca Raton • Tuesday, June 19, 1-5 p.m., Spanish River Library, Boca Raton Boca • Thursday, March 27, 2-3:30 p.m., Hyatt Downtown: 295 Lakeview Ave West Palm Beach • Tuesday, April 1, 10 a.m., Hilton: 5111 Tamiami Trail N, Naples • Tuesday, April 22, 10 a.m., Naples Bay Resort & Marina: 1500 Fifth Avenue South, Naples • Tuesday, May 6, 10 a.m., Hilton: 5111 Tamiami Trail N, Naples • Tuesday, May 20, 10 a.m., Naples Bay Resort & Marina: 1500 Fifth Avenue South, Naples • Tuesday, June 10, 10 a.m., Naples Bay Resort & Marina: 1500 Fifth Avenue South, Naples • Tuesday, June 24, 10 a.m., Naples Bay Resort & Marina: 1500 Fifth Avenue South, Naples Naples To reserve a spot, call us at 561-955-8515 ! For more information scan the QR code above or visit our website SiegelLawGroup.com/events/!
3 561-955-8515
2500 N. Military Trail, Ste. 470 Boca Raton, FL 33431
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
561-955-8515 SiegelLawGroup.com
Inside This Issue
1
How to Have an Honest Estate Planning Conversation With Your Parents
2
Work With Your Body to Unlock Lasting Weight Loss
Thank You to Our Administrative Professionals!
3
Special Needs Trusts as a Lifeline for Your Child’s Future
Check Out Our Seminars!
4
Claim the Compact Storage Crown
Declutter Your Entryway Tips to Master This All-Important Space
In many ways, your front entryway is your home’s command center. It’s where some of your most precious possessions reside and the first thing guests see when they visit. Unfortunately, it can also be your home’s most cluttered and disorganized space, leading to everything from desperate, already-late-for-work dashes to find your car keys to pets looking at you quizzically as you embark on a scavenger hunt for their leashes. Here are two quick tips to clear up that all-important space and save you from hustling to find those items that always seem to vanish whenever you need them. STOP THE SHOE STACK If your front entryway typically looks like a sneaker factory hit by a tornado, the first step is to get all that footwear — especially if it’s wet or muddy — out of your way and into easily accessible locations. You can utilize baskets or shelves to organize those items by person and even assign each area a name or number to help family members (or guests) find them without hassle. The same goes for gloves, hats, scarves, socks, boots, umbrellas, and
other weather-specific attire. If your entryway space is minimal, consider adding hooks and shelves to a nearby wall to keep these essentials — plus purses, keys, and other daily accessories — in one spot. Best of all, everyone will know where to place certain items instead of dropping one glove in the living room and another in the kitchen. Imagine that! PERFECT THE PET PARENT PLAYBOOK Of course, you also need to keep things neat for your beloved animal companions. Leashes, pet clothing, and waste scoopers should also have designated spaces in your reorganized entryway. Storing your pet essentials in a dedicated place will be especially helpful when your furry friends wake you up in the middle of the night so you can take them outside to do their business. From making a great first impression to keeping tasks convenient for your family, a decluttered front entryway is one of the best and most practical gifts you can give your home.
4 SiegelLawGroup.com
Published by Newsletter Pro • www.NewsletterPro.com
Page 1 Page 2 Page 3 Page 4Made with FlippingBook Ebook Creator