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June/July 2023
MY DAD’S WINNING STRATEGIES LESSONS IN THE GAME OF LIFE
I usually spend the month of June celebrating one of the most influential people in my life. My father has played an instrumental role in my development and has served as my primary role model throughout my life. I can always turn to him whenever I need advice, guidance, or support. I’m incredibly appreciative of the efforts my dad made over the years and the lessons he taught me that helped shape who I am today. I’ll have ample time to share my appreciation with him this month when we celebrate Father’s Day and his birthday!
ourselves into believing that it is, but this simply isn’t the case. There will always be people with better or worse opportunities than us. It’s all about what we do with the chances we receive. My dad taught me that the only way we could level the playing field and find success was to outwork the competition and be the best that we could possibly be. The cream always rises to the top, and since we’re competing in a national and international economy, we have to be at our best at all times.
Whenever I reflect on my experiences with my dad, I always remember our Sunday tradition from when I was young. Every Sunday, my dad would get the family ready so we could head out to church. After church, we headed home to eat
You have to continually ask yourself what you will do to be better than the guy across the street, but you also have to figure out how you can be better than you were the day before. I didn’t realize until later in life that my dad was trying to teach me that I was my biggest competitor and that I had to outwork myself to find success. You have to be willing to do more each day. If you don’t, you’ll end up in a slump that’s difficult to crawl out of. Possibly the most important lesson that my father taught me was the necessity of passing on wisdom to your children. I know how nice it can be to gift your children new toys and nice clothes, but these material items don’t guarantee success or happiness. It’s the values and principles that we learn that help us grow and be productive. Those with strong values and a dedicated work ethic have the power and potential to improve the world. I’m thankful to my dad for teaching me these lessons and being a reliable source of support whenever I need him.
“Those with strong values and a dedicated work ethic have the
before inspecting the rental properties dad owned and managed. My dad also owned a martial arts business, and I spent a portion of my day practicing karate or playing around the karate school. My dad stayed very busy during the week, and Sunday was no exception. I’m simply glad that he brought me along so we could be together.
power and potential to improve
the world.”
Spending this time with my dad truly helped me understand him better. I learned many valuable lessons that helped me develop
and encouraged me to start my own business. Even if I didn’t realize it at the time, my dad instilled incredible wisdom into me regularly, and many of those lessons still play an influential role in my life. One of the first significant lessons my dad taught me was that life isn’t fair. Many of us want the world to be fair or have tricked
Happy Father’s Day!
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3 STAGES OF EMPTY NEST SYNDROME Are You Emotionally Prepared for Your Kids to Leave? 10 People to Thank
Now you may be wondering … what is a springing power of attorney? The Case of the Springing Power of Attorney A springing power of attorney is a special type of power of attorney that only allows your agent to act in the event that you are incapacitated and that fact is confirmed by either one or two licensed physicians. So, in other words, you are appointing someone to be your agent and make financial decisions on your behalf, but only if and when you are incapacitated.
Being a parent and following the intense schedule that comes with raising children became your lifestyle, one you have adhered to for over a decade. Eventually, your children grow up, move out, and have their own kids. Getting accustomed to this immense change can be difficult and cause you to feel sadness and grief at what feels like the loss of your identity.
It sounds like a great idea … right?
Well, let me share a story of a client named Tony. Years ago, my team and I completed Tony’s estate plan and he had a springing power of attorney in it. Tony gave his niece, Bekka, the authority to be his financial power of attorney under a springing power of attorney. All seemed well. Then a few months ago, Tony had a stroke and was hospitalized. And he was incapacitated. So, about a month later Bekka takes the financial power of attorney to the bank and tries to move some money from his savings into his checking account to pay Tony’s bills. But the bank rejects it. They require Bekka to produce a letter from two physicians stating that Tony is incapacitated. Bekka contacts the case worker in the hospital and has them prepare the letters. And she takes the letters to the bank. The bank rejects them again because they don’t have the specific language that was spelled out in the power of attorney. Bekka, now frustrated, contacts my office to see if we can provide some assistance. Ultimately, we were able to provide her with the assistance that she needed to get access to her uncle’s bank accounts. And it’s a good thing that he didn’t pass away during the process. Because every second counts in situations like this. And that’s why a springing power of attorney doesn’t make the most sense. If Bekka was appointed under a non- springing power of attorney, then she
This is called “empty nest syndrome,” and you’ll be happy to know you won’t feel this way forever. You’ll likely experience three distinct phases, and we’re here to help you go through them! Stage 1: Despair Your children leaving home is a huge life change, and even the tiniest things can trigger a bout of crying. When you pass their old bedroom or find one of their belongings left behind, the tears might flow, and that’s okay! It’s only natural to feel lonely and feel as if you’ve suddenly lost your purpose. While you may want to withdraw from the world and wallow, now is the time to reconnect with friends and loved ones to remind you there’s more happiness in your life to be experienced. Stage 2: Relief After a few months, the despair will dissipate, and you’ll feel a sense of relief. You’ll begin to enjoy not worrying about the various tasks and responsibilities once expected of you. No more preparing lunches, doing their laundry, or cleaning up after them! With all this free time now available, you can dive into past or new hobbies and discover your interests. Stage 3: Contentment Finally, you will feel happy. After experiencing the first two erratic stages of empty nest syndrome, you’ll settle into your new lifestyle. Regular yoga classes, summertime cruises, or book clubs are now the new norm. You can finally sit back, relax, and know you’ve successfully raised your children to become independent adults.
would’ve been able to go to the bank with the power of attorney document only. She wouldn’t have needed the letters from the physicians and everything would have worked out smoothly. If you have a springing power of attorney, call us at 740-346-2899 so that we can update it today.
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By Preparing an Estate Plan AVOID A FAMILY FEUD
Losing a parent is never easy. While working with families in the probate realm, we’ve often noticed that parents are the glue that holds families together. When one parent passes away, you still have mom or dad there to help the children keep it together, but things become much more difficult when the surviving parent dies. It’s common for siblings to begin fighting over who inherits what. No family wants to experience this situation, and many wonder what they can do to ensure everything goes as smoothly as possible without any risk of infighting between family members. The best solution is to create an estate plan.
With an estate plan, you can lay out your wishes in a will to determine who inherits what. This can help prevent siblings from fighting over specific assets. If you’re worried that fighting will still occur, you can talk with your heirs to inform them of what they will receive and why. You can also give certain items before you pass if you worry it could cause an argument later. Communication is vital in these scenarios, so try your best to inform your heirs who will receive what so no surprises are waiting for them when they should be grieving. If the parents pass away before they can create an estate plan, or if their estate plan does not cover all of their assets, it becomes the children’s responsibility to ensure everything stays cordial. They can make this situation easier on themselves by utilizing a few different tactics. They can take turns picking their desired items, with the oldest child picking first and so on, or whatever works best for the family. Another option is to randomly distribute the items by writing each item on a piece of paper and having each heir take turns pulling pieces out of a hat. This doesn’t guarantee that your family will avoid fighting, but it does make everything fairer for everyone involved. An estate plan is essential if you want to give yourself and your family peace of mind about the future. Give us a call if you have any questions about creating or updating your estate plan.
Goat Cheese and Thyme Stuffed Chicken
TAKE A BREAK
Inspired by TasteOfHome.com
INGREDIENTS •
2 skinless, boneless chicken breasts 3.5 oz firm goat cheese 1 tsp fresh thyme leaves, plus 2–3 sprigs
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4 pieces of thin-sliced bacon
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• • •
Olive oil
2 zucchinis, thinly sliced 1 large tomato, thinly sliced
DIRECTIONS
1. Preheat oven to 375 F. 2. Split the chicken breasts almost in half along the long side, open them like a book, then flatten the sides out. 3. Put the goat cheese on the “open book” side of the chicken and sprinkle with thyme leaves. Fold the chicken over to enclose the cheese, then wrap each breast in 2 slices of bacon. 4. Lightly oil a shallow gratin or casserole dish, then arrange overlapping rows of zucchini and tomatoes on the bottom. Drizzle with olive oil, sprinkle with salt and pepper, then set chicken on top. Place thyme sprigs on chicken. 5. Bake for 40–45 minutes until the bacon is crisp and golden and the zucchini is tender.
BEACH BURGERS CYCLING FATHER
JUNETEENTH MUSIC PEARL PRIDE
REFUGEE SAILING SOLSTICE WATERSKI
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352 Frank Layman Blvd. • Wintersville, OH 43953 740-314-4829 • LittlejohnLawLLC.com
INSIDE
THIS ISSUE
1 2
Father Knows Best
The Emotional Roller Coaster of an Empty Nest
What Is a Springing Power of Attorney?
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Avoid Future Sibling Conflict With an Estate Plan
Goat Cheese and Thyme Stuffed Chicken
Take a Break
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Top Tips to Teach Financial Responsibility
HOW TO RAISE FISCALLY RESPONSIBLE ADULTS CUT THE FINANCIAL UMBILICAL CORD
Adulting is all about doing your own laundry, cooking, and grocery shopping. It means making informed decisions about time management, organizational skills, and understanding how to be financially responsible. But how do you teach your teenager financial responsibility? Let’s explore five important lessons your child needs to gain financial independence! Help them find opportunities to earn money. Before your teen can learn to properly manage their finances, they must first make their own money! If they don’t have a job, encourage them to begin the hunt. If your teen is still too young to hold a job, consider paying them for chores around the house or yardwork. Once your teen has a cash flow, you can then teach them how to separate it into spending money and cash to save. Open a bank account. If your child doesn’t have a bank account yet, it’s time to set up a checking and savings account for them. It’s a great way to provide them with financial independence while they still have access to
your guidance. While credit cards can be scary to trust your learning teenager with, you should consider a prepaid credit card they can use to learn the ins and outs of how credit cards work while still having a safety net to protect their credit. Introduce them to the concept of interest. Interest can be beneficial or a disastrous hindrance, so your teen needs to understand how it works. While it can be beneficial for certain savings accounts, it can wreak havoc on credit card debt. Demonstrate interest with different real-life scenarios to show your teen how they can grow their money or rack up tons of debt.
Whether your teen has just started earning their own money or is preparing to handle finances on their own, these simple tips can help you start training a fiscally responsible adult.
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