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September 2024
IGNITING IMAGINATION Encouraging Creativity in Children
Everyone wants their kids and grandkids to grow up to be happy, confident, successful, and well-adjusted members of society. Because of this, we — the older generations especially — have a habit of overcorrecting them when they display behaviors or spend time pursuing hobbies that don’t seem to align with that goal. However, when they display creativity, we should celebrate it, rather than scolding them in hopes that they pick a more “productive” way to spend their time. Whether it’s building a fort, going for walks, observing nature, or just playing outside, nature can be an incubator for creativity. The great author Mark Twain once said, “A man who carries a cat by the tail learns something he can learn in no other way.” The last week in September is National Keep Kids Creative Week, which is a mission I thoroughly support. Encouraging creativity goes a long way in helping them establish a more creative mindset, which will benefit them greatly in their future endeavors. A Question to Ask (or Answer for) a Loved One Asking and answering important questions helps preserve your family’s values and life lessons for generations to come. When have you had to think outside the box to solve a problem? Fighting Boredom We scold our children and grandchildren for playing video games, watching too much TV, sitting too close to the TV, or being glued to their phones. But these activities often stem from a common cause: boredom. Paradoxically, the more time they spend in front of a screen, the shorter their attention spans get, and the harder it is for them to stay entertained for long. Given how jam-packed kids’ schedules are these days, it’s no wonder they want a quick escape. It used to be that we would simply go outside and play until being called back for dinner. That is just not the way things are anymore. Instilling creativity in them at a young age helps counteract this problem. A topical example can be found on their phones and computers. There are plenty of creative activities on these devices,
from watching videos that can help teach them about a particular hobby — whether
it be cooking, painting, design, or writing — to
reading or listening to great works of fiction. When you are creative, you can find more ways to stave off boredom, while embarking on a hobby that helps develop your artistic, philosophical, and introspective skills.
You can pursue entire creative careers on a computer. The trick is making sure they are using these devices in a way that instills creativity rather than dampening it. Culture of Creativity As with many things in life, fostering creativity starts at home. Regardless of their age, when kids use their imaginations by reading, telling stories, or playing, they are stimulating the part of their brain that they use for critical thinking and problem-solving. There is a great focus these days on standardized test scores, and while you have to play the academic game, I find it just as important to build creativity as regurgitating and memorizing canned answers to build intellect. Moreover, when you engage in creative acts with your kids, it is mutually beneficial. For example, my kids and I painted renditions of Van Gogh’s Starry Night together, which helped us flex our creative muscles. There is something about
being around kids when they are enjoying themselves. When they are having fun, you can’t help but have fun too — we derive joy from their happiness — so it pays doubly to join them in creative, entertaining activities.
“Truly I tell you, unless you change and become like little children, you will never enter the kingdom of heaven.” – Matthew 18:3 Philip J. Corson, Founder
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NEW YEAR, NEW EXEMPTION
Why 2024 Is the Year to Update Your Estate Plan
While keeping up to date with your estate planning should always be a priority, 2024 is the ideal year to review and make changes to your estate plan. This is because the federal estate, gift, and generation-skipping transfer, or GST, tax exemptions have seen a marked increase this year. In 2023, the GST was $12.92 million per individual, but it has increased by $690,000 to $13.61 million per individual in 2024. This means you can transfer property with a value up to the exemption amount, either at death or throughout your lifetime, without paying a transfer tax. If you are in a position to do so, consider taking full advantage of this estate planning environment. Estate, Gift, and GST Taxes Every year, the IRS allows individuals to gift up to $18,000 to individuals without incurring federal gift or estate taxes. If you are married, your spouse may also gift up to the same amount, effectively increasing the amount to $36,000 per year, tax-free. Some gifts do not count toward the exemption — meaning these are not taxed — such as payments made directly to medical providers or between spouses. According to the American Bar Association, the GST tax is imposed on transfers to “remote descendants,” including grandchildren, known as “skip” persons, that exceed the exemption limits.
“You need to create your estate plan this year ; the current federal estate, gift, and GST tax exemption rate is temporary and set to decrease soon.”
The GST tax is applied to direct transfers to any skip person, either during someone’s lifetime or at the time of death. However, transfers made to trusts can use the GST exemption — making the trust partially or wholly exempt from the tax. As of 2024, the federal gift, estate, and GST tax rate is a flat 40% — representing a significant expense. That is why the gift, estate, and GST tax exemptions are so important; they allow you to circumvent this tax rate in your estate plan. The GST Tax Exemption While the federal estate, gift, and GST tax exemptions were just $5 million in 2011, they have increased by over 170%. Before 2012, inflation was not considered when determining the exemption. This increase should not come as a surprise to anyone. After all, inflation has significantly strained the economy in recent years. If you wish to take advantage of the GST tax exemption through the use of a trust, you need to consider a few factors. Any non-exempt trust will still be taxed at a 40% rate. For a trust to be GST tax-exempt, it must either be a Gallo trust, meaning it is for the benefit of a single grandchild or skip person, be a grandfathered trust, or qualify for the GST tax annual exclusion. Otherwise, if you want to cement your legacy and do what is best for your family at the time of death, you need to act quickly while this exemption still applies. You need to create your estate plan this year ; the current federal estate, gift, and GST tax exemption rate is temporary and set to decrease soon.
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Nature’s Playground Awaits!
TAKE A BREAK
These National Parks Are Accessible to All
For decades, the 400-plus national parks encompassing over 84 million acres were unreachable for millions of Americans with mobility issues. Thankfully, recent advances at many national parks have made nature available for everyone. Let’s look at five accessible options for your next adventure. Great Sand Dunes Great Sand Dunes National Park has 5 billion cubic meters of sand and stretches 30 miles. The winds blow these sands into massive dunes with peaks reaching 13,000 feet in elevation. Now, with sand-friendly wheelchairs available for rent, utilizing inflatable wheels for accessibility, everyone can explore these natural wonders. Grand Canyon A scenic drive accessibility permit allows visitors to access roads that are closed to regular traffic, providing incredible views of the Grand Canyon without needing to get out of the car. However, for a closer peek, you can find wheelchair- friendly overlook platforms and a free shuttle to transport visitors around the park. Carlsbad Caverns Think again if you thought cave exploration was off the table for folks with trouble getting around. Carlsbad Caverns features an elevator that takes visitors 750 feet underground into a giant cave chamber, home to over a mile of paved trails through beautiful rock formations that took millions of years to form. Grand Teton Feel like going for a swim? Grand Teton National Park wanted everyone to feel welcome to cool off in the 1,200-acre Jenny
ABUNDANT APPLES
COOKOUT CRUNCHY FALL GOLDEN GRANDPARENTS HARVEST
LABOR MAPLE SPORTS WINDY
TASTY TURKEY MEATLOAF
This turkey meatloaf is packed with flavor and protein, perfect for a family dinner or meal prep!
Lake, so they built a path that allows wheelchair users to roll into the water.
Nearby, Teton Adaptive Sports hosts climbing trips, so nobody has to abandon their dreams of conquering the cliffs. Yellowstone
• 1 lb ground turkey • 1 onion, diced • 2 cloves garlic, minced • 1/2 cup bread crumbs • 1/2 cup grated Parmesan cheese Ingredients
• 2 tbsp ketchup • 2 tbsp Worcestershire sauce • 2 eggs • 2 tbsp chopped fresh parsley • Salt and pepper, to taste
This national park is one of the country’s best, with over 90% of visitors reporting never needing to leave their car. For adventurers with injuries, age-related mobility issues, or other disabilities who want a closer look, most of the thermal features Yellowstone is famous for are easily accessible due to its excellent boardwalk system. The accessibility changes made by these parks are a significant step toward ensuring our national treasures are inclusive for all who wish to experience nature’s wonders. Through innovative solutions like sand-friendly wheelchairs, cave elevators, and special driving permits, these parks give outdoor access to even more people.
Directions 1. Preheat oven to 375 F and line a baking dish with parchment paper. 2. In a large bowl, combine turkey, onion, garlic, bread crumbs, Parmesan cheese, ketchup, Worcestershire sauce, eggs, parsley, salt, and pepper. 3. Form the mixture into a loaf shape and place it in the baking dish. 4. Bake for 45 minutes or until the internal temperature reaches 165 F. 5. Let the meatloaf rest for 10 minutes before slicing.
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INSIDE THIS ISSUE
1
How to Raise Creative Kids
2024 Sees Rise in Transfer Tax Exemptions
2
Tasty Turkey Meatloaf
3
Parks Pave the Way for Accessibility
Eminem’s Family Feud
4
Slim Shady’s Mom Sued Him for Millions
Eminem has famously feuded with Machine Gun Kelly, Mariah Carey, and many other musicians and celebrities. In many cases, his rivals become the subject of his rap lyrics.
He has even written entire songs as parts of long-standing rap battles and disputes, some of which become massive hits. In 2018, Eminem released a music video for his single, “Killshot,” a song targeting rapper Machine Gun Kelly. Despite the video being nothing but a still image — a drawing of Machine Gun Kelly seen through a gun’s scope and crosshairs — it has amassed nearly half a billion views on YouTube. But one of his earliest, and perhaps most hurtful battles, hit close to home. Eminem, whose real name is Marshall Mathers, was sued for defamation by his mother, Debbie Mathers-Briggs, in 1999. She sought $10 million in damages, claiming that the then-26-year-old rapper had slandered her in songs and interviews. Background of the Beef Eminem first mentioned Mathers-Briggs in his 1999 single, “My Name Is.” The song
won the artist a Grammy for Best Rap Solo Performance in 2000. The lyrics include explicit references to his mother in the lines, “I just found out my mom does more dope than I do,” and “I told her I’d grow up to be a famous rapper. Make a record about doin’ drugs and name it after her.” Mathers-Briggs claimed that she did not use illegal drugs and that the rapper’s lyrics were untrue and amounted to slander. Eminem’s attorney refuted this claim, arguing that everything the rapper sung about her was verifiably true. Rapper’s Result The court awarded Mathers-Briggs a settlement in this case, but it was far from the $10 million she originally sought. She initially won around $25,000, which was reduced to just $1,600 by a Macomb County judge, who awarded the majority of the settlement, some $23,354, to her attorney to cover legal fees.
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