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405-843-6100 | 918-615-2700 | ParmanLaw.com August 2025
Guessing, Betting, Research, Confirmation Bias — and the Comfort of Familiarity Making Smarter Choices for Your Financial Future
In the realm of personal finance and planning, it’s tempting to rely on guesswork, bets, or selective research when making important decisions. Whether it’s crafting an estate plan, managing your retirement assets, or making everyday financial choices, these approaches can lead to unintended consequences. Recognizing the difference between guessing and betting — and understanding how research, biases, and even familiarity influence our decisions — can help you make smarter, more informed choices that protect your future. Guessing vs. Betting: What’s the Difference? Guessing involves deciding based on limited information or intuition. It’s a shot in the dark. Betting involves wagering on a perceived probability. It typically includes an investment — money or perhaps “research” — supported by our experience, recent trends, or gut feelings. Both contain an element of risk and are based on chance. Either can be dangerous in making complex financial decisions, especially if you don’t have a clear, analytical basis. Applying These Concepts to Estate Planning When developing an estate plan, guessing about future needs or the best transfer methods can leave your loved ones unprotected or subject to unnecessary taxes. Betting on a specific legal strategy without careful analysis might seem like a “good enough” choice but can backfire if circumstances change. A well-crafted estate plan is built on thorough analysis and tailored to your family’s needs. It functions as a reliable road map — not a gamble. Preserving Retirement Assets and Your Lifestyle Guessing which investments will perform best or betting on recent trends can be perilous. Managing retirement assets involves more than just growth; it’s about preserving purchasing power amid inflation. Not accounting for the potential loss of purchasing power is a blind spot for most investors. Inflation steadily erodes the value of your savings. That’s why we emphasize the importance of strategic diversification and inflation-resistant investments. Relying solely on luck or hype is risky; a disciplined, research-informed approach helps protect the long-term viability of your retirement funds. Research, Confirmation Bias, and the Illusion of Security In making decisions, we often turn to “research” for guidance — reading articles, data, and opinions. This is our mind’s way of telling ourselves we did what we were supposed to do to arrive at a sound decision. However, a common trap is stopping our research once we find information that supports our existing beliefs. This is confirmation bias: seeking out and favoring data that confirms what we already think while ignoring evidence that contradicts it.
Confirmation bias can lead us to stop short of a thorough review. We overlook risks, cling to poor investments, or maintain strategies that are no longer effective. If our decision relies primarily on biased information, we are essentially betting on a narrow view rather than making a fully informed choice. It becomes guessing or gambling. The Comfort of Familiarity: When We Rely on Our Long- Standing Advisors An additional dimension often mistaken for sound decision-making is sticking with a familiar advisor simply because “we’ve been with him a long time,” or “we haven’t lost money,” or “he meets with us regularly and tells us what to do.” While loyalty and a history of no losses might feel reassuring, they can inadvertently encourage betting or guessing. Relying solely on your current advisor’s relationship, without critically evaluating whether their strategy is still the best for your current goals, is risky. It’s easy to fall into a trap of complacency — assuming that continued association and routine meetings are sufficient, even if your situation or the market conditions have changed. This can prevent you from seeking alternative opinions or questioning whether your current approach remains optimal, another form of biased decision-making rooted in familiarity rather than analysis. Making Smarter Decisions Here’s the point. The key is to approach all choices — whether with estate planning, retirement savings, or existing advisors — with a mindset of informed scrutiny. Challenge assumptions, seek diverse perspectives, and analyze all relevant data. A truly strategic decision reflects deliberate analysis, not just comfort, familiarity, or bias. In Summary Uncertainty and risk are inherent in any financial journey. By recognizing when you’re guessing, betting, relying on confirmation bias, or remaining complacent out of habit or familiarity, you can shift toward decision-making grounded in evidence and strategic thinking. This not only improves your financial outcomes but also deepens your confidence and peace of mind.
We are committed to helping you challenge assumptions, explore all perspectives, and develop personalized, informed strategies — so your decisions today secure a stronger, more resilient tomorrow.
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GOLDEN YEARS, GOLDEN GAINS
A RETIREMENT RICHES ROAD MAP
Once you’ve reached the age where stepping away from your life’s work is feasible, it is essential to explore ways to make your retirement funds last as long as possible — a goal that involves more than just keeping your bills paid in your golden years. Here are three thoughts to help you move toward a comfortable, sustainable, and secure post-work life. Redefine the future. There are several ways to build a reliable retirement plan to ensure financial strength. First, consider whether your anticipated fund withdrawals align with your tax strategies. For example, a Roth IRA conversion could present opportunities to reduce your financial obligations if you anticipate reaching a higher income tax bracket later in life. At the same time, charitable giving could result in similar advantages. Balance benefits with needs. Factoring in your Social Security benefits is another way to determine your post-retirement financial health, but only if you carefully consider when you begin receiving them. Generally, you can begin claiming Social Security benefits between ages 62–70, and the age you choose to receive them determines the amount.
If you decide to begin receiving your benefits as soon as you turn 62, they will remain at the lowest amount available indefinitely. Full benefits kick in once you reach your full retirement age of 67, but delaying them until you’re 70 will add 8% to your annual income. Avoid the risks of restraint. Although patience comes with a payoff, you face a few dangers if you delay your Social Security benefits. For example, putting off receiving them could prevent you from having the funds necessary to address any unexpected medical situation. Additionally, waiting until 70 could have a negative financial impact on your significant other, as spousal benefits are capped when your partner reaches full retirement age under certain conditions.
As no two financial paths are the same, we encourage you to consult a financial advisor and/or estate planner to ensure the most comfortable retirement
and sustainable legacy possible.
Climbing Past Parkinson’s
ROCK WALLS ARE HELPING PATIENTS RISE ABOVE
In a remarkable twist on traditional
to ensure their safety while they climb. Cupka emphasizes that the act of climbing engages the body and mind, requiring climbers to assess routes and make calculated movements, which can enhance cognitive function and physical agility. One inspiring participant is Dr. John Lessin, a former cardiac anesthesiologist diagnosed with Parkinson’s in 2003. Despite the disease’s progression, Lessin has embraced climbing, scaling walls up to 60 feet high. He describes reaching the summit as a triumphant experience: “I feel like I’ve conquered something. And I feel like the wall can’t beat me. I can beat the wall.” His daughter, Brittany, notes the significant impact rock climbing has had on her dad, claiming his newfound passion brings joy and a sense of accomplishment. Another climber, Vivek Puri, diagnosed at 38, refers to himself as “Spider-Man” when on the wall. He observes that climbing
sessions alleviate his symptoms, particularly improving his fine motor skills. Puri’s experience underscores the potential of climbing to mitigate some of the physical challenges Parkinson’s presents. Beyond individual achievements, the program fosters a supportive community among participants. Climbers often form bonds, encourage each other, and share their victories together — it’s a great way to build camaraderie and take stress off patients! While rock climbing may not be a conventional treatment for Parkinson’s, the success stories emerging from UpENDing Parkinson’s suggest that with innovation and determination, patients can find new avenues to combat the disease’s effects. This approach not only challenges the limitations imposed by Parkinson’s but also redefines what is possible in the realm of therapy and rehabilitation.Climb on!
therapy, individuals battling Parkinson’s disease are finding empowerment and improved well-being
through rock climbing. This unconventional approach is spearheaded by Molly Cupka, who founded the nonprofit organization UpENDing Parkinson’s over a decade ago. Her program introduces Parkinson’s patients to the vertical world of climbing, which offers both physical and mental benefits. Parkinson’s disease often impairs mobility, balance, and coordination. Rock climbing, with its demands for strength, strategic planning, and focus, serves as a comprehensive workout. Participants are securely harnessed
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Imagine wandering through a dense, misty forest when you spot a cozy little home carved into the base of a towering tree stump. It sounds like something straight out of a fairytale, but in the rugged 1800s, it was everyday reality for some of America’s earliest settlers on the West Coast. Back then, before the lumber industry toppled millions of ancient giants, the forests were filled with trees so massive their trunks could measure 20 feet across or more. Once felled (a task so intense it could take a month), these colossal stumps were too big, stubborn, and abundant to remove easily. Rather than blowing them up (though some tried with dynamite), the pioneers did what pioneers do best: They got scrappy. They turned the stumps into homes, post offices, barns, and even dance floors! Frontier Ingenuity at Its Finest HOW 1800s PIONEERS TURNED TREE STUMPS INTO COZY HOMES
MARGIE’S KITCHEN Classic Tuna Salad
by Darlene Parman
My Texan momma, Margie Trammell, shared her love by creating hearty feasts for family and friends. I share her recipes here with the hope that you, too, can fill your home with love and joy! This classic tuna salad is perfect for on-the-go meals (accompanied with a little lettuce or as a sandwich) or can be dressed up for a nice supper with a couple of sides (like Margie’s deviled eggs, baked beans, or sliced tomatoes) and pieces of crisp iceberg lettuce! Enjoy!
One of the most legendary stump homes was the Lennstrom Stump House in Edgecomb, Washington. Crafted from a cedar stump 22
Ingredients
feet wide, it sheltered three adults and three children, proving that creativity could turn leftover lumber into a home. Though the original Lennstrom house met its end in 1946, you can still marvel at an 18-foot stump house today at the Stillaguamish Valley Pioneer Museum nearby. But stump houses weren’t just for surviving; they were for celebrating, too. In Calaveras, California, settlers turned a massive hollowed-out tree into a grand dance hall and hotel. Guests waltzed under twinkling candlelight and cedar boughs strung high above the forest floor. As one 1850s newspaper gushed, it was “romantic and beautiful beyond description” (although the ladies did wish the stump-turned-dance floor had a little more bounce)! In a time when luxury was a warm fire and a sturdy roof (or stump) over your head, these quirky homes captured the best of pioneer spirit: grit, resourcefulness, and a little bit of magic. Next time you pass an ancient stump on a hike, imagine what stories it might hold. In the right hands and with a bit of imagination, it might have been the coziest home on the frontier! The Lennstrom House ca. 1901
• 1 cup mayonnaise • 1 tbsp mustard • 1 tsp celery seed • 1–2 packages stevia or similar product, or 1–2 tbsp sugar, or to taste • 2 small cans or one large can of albacore
tuna packed in water, drained well • 4–5 stalks of celery, finely chopped • 4 eggs, hard-boiled, peeled, cooled, and chopped • 2–3 heaping tbsp sweet pickle relish
Directions 1. In a large bowl, mix together mayonnaise, mustard, celery seed, and sweetener of choice. 2. Add tuna, celery, hard-boiled egg, and pickle relish. Mix well 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
13913 Quail Pointe Drive, Suite B Oklahoma City, OK 73134
INSIDE THIS ISSUE
1
A Few Thoughts About Making Smarter Choices for Your Financial Future
2
Post-Work Wealth Wisdom
The Unlikely Therapy Transforming Lives
3
Margie’s Kitchen — Classic Tuna Salad
The Wild History of the Wild West’s Stump Houses
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Don’t Worry About a Thing (Except Getting a Will) BOB MARLEY’S ESTATE: EVERY LITTLE THING IS NOT GOING TO BE ALRIGHT
Over the years, numerous lawsuits popped up. There were legal battles between family members, former business managers, and even people who claimed to be Marley’s children. To make matters worse, in the mid-1990s, Rita was accused of trying to forge documents that would have given her control over Bob’s name and likeness rights. That claim led to a prolonged court case and more delays in distributing the estate. An Organized Estate Eventually, the Jamaican courts appointed a court-supervised administrator to handle Marley’s estate — a move meant to avoid further family infighting and keep things above board. The estate was restructured under a holding company, Nine Mile, and later managed by a team of professionals to protect Marley’s image and assets.
When Bob Marley passed away in 1981 at age 36, the reggae icon left behind a massive musical legacy and a major legal mess. Why? He didn’t leave a will. Despite being one of the most famous musicians on the planet, Marley died intestate (the legal term for dying without a will). At the time of his death, his estate was estimated to be worth around $30 million, and that number has only grown thanks to royalties, licensing deals, and merchandise. No Will, Big Problems Without a will, Marley’s estate was subject to Jamaican intestacy laws, which meant his wife, Rita Marley, and his 11 recognized children were supposed to share the estate. While this sounds simple, it didn’t work out that way.
To this day, the estate remains active and highly valuable. Marley still consistently ranks among the top-earning deceased celebrities, pulling in millions annually from music sales, merchandise, and licensing. Bob Marley’s probate case reminds us that no matter how famous or well-recognized you are, dying without an estate plan can create chaos, especially when significant assets are involved. Legal fees pile up, relationships can fall apart, and it can take years to settle everything. So, the takeaway is to plan ahead. A proper estate plan can save your loved ones a world of trouble — and ensure your legacy is handled exactly the way you want.
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Thank You For Your Trust In Us! (Round 2) 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 Bill & Michelle A.; Patrick M.; Kurt & Megan D.; Tracey R.; Eunice K.; Beverly M.; Ray L.; Johnny & Georgia C.; Ryan B.; Robyn Y.; Cherri F.; Archie R.; Ann F.; John & Leslie F.; Greg W.; Anita R.; Tom E.; Susan D.; Pam T.; Jane G.; Holly H.; Dawn C.; Richard M.; James & Janelle G.; W.M. & Joy S.; William & Victoria L.; Everett E.; Lynn & Gale W.; Michael & Joyce McC.; Carl & Patricia S.; Betty H.; Don & Gloria S.; Peter & Janie S.; Carrie M.; Robert & Carol H.; Gilbert D.; Zach B.; James B.; Greg & Joy F.; Amber & Brian B. Free Client Trust Review Reminder If you are a current client and it has been more than three years since you have reviewed your Estate Plan, then now is the time to schedule your complimentary (ie - FREE) Estate Plan Review with us. That's right - one of the value-added benefits we provide all Clients is the opportunity to review your Estate Plan with us to make sure it is up-to-date with your life situations. Things change all of the time - both in your life and on the legal side. People are born; people pass away;
people get married; people get divorced; people get sick; trustees need to be changed; beneficiaries need to be changed; things are bought and sold; and on and on. On the legal side, rules, laws, and regulations change that may affect your estate plan and/or we may have new legal tools available to help you optimize your estate plan we didn't have before. And, just like a plant, your Estate Plan needs to be continuously nurtured, cared for, and updated as events unfold in your life, so it works exactly the way you want it to when you need it most. So if it has been more than three years since you have reviewed your Estate Plan, contact us today. And besides, we always love catching up with you. We look forward to seeing you soon! 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 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.
Veterans: Thank You For Your Service! (and a little Armed Services humor)
Many of our Clients are veterans and we can never say THANK YOU enough for your service. We sincerely appreciate your and your family’s sacrifice, commitment, and patriotism. To honor and earn your service, every day our Team strives to do good in the world; create and provide value for others; make
someone’s life better; and help others fulfill on their American Dream. And in the spirit of the friendly competition between the Services, we wanted to share a joke shared with us by a Client: Which Service is Best? While waiting outside the Pearly Gates, a soldier, a sailor, an airman, and a Marine get into an argument about which of the Armed Forces is the best. Saint Peter butts in and tells them to cool it — he’ll ask God and get back to them. The next time they see Saint Peter, he’s got a letter in his hand, and he reads to them aloud: FROM: God TO: Soldiers, Sailors, Airmen, and Marines RE: Which service is best Dear Members of the Armed Forces, I’ve been watching and here’s what I think. All branches of the United States Armed Forces are truly honorable, courageous, well trained, and capable. Therefore, there is no superior service. Sincerely, God, USMC (Ret.) *Disclaimer: Parman & Easterday picks no side in this debate. We simply relay the joke. (Spoken like true attorneys, right?)
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 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, August 19, 2025 OR Tuesday, September 23, 2025 2 – 4 PM or 6 – 8 PM Hilton Garden Inn; Edmond Conference Center 2833 Conference Dr; Edmond, OK 73034 Tuesday, October 14, 2025 2 – 4 PM or 6 – 8 PM Fairfield Inn & Suites 1520 Garth Brooks Blvd; Yukon, OK 73099 RSVP at 405-286-9009 (24-hr hotline) or www.okcprogram.com
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
Dates We Will Be In Our Tulsa Office: Wednesday, September 10, 2025
Wednesday, October 8, 2025 Wednesday, November 5, 2025 Wednesday, December 3, 2025
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.
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