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Main Street Monthly 905 Old Cherokee Road, Lexington, SC 29072 • P: 803-358-7214 • www.strattonreynolds.com
AUG/SEPT 2023
WHY SHOULD I HAVE AN ESTATE PLAN?
There is an old expression that nothing is sure except death and taxes. Yet people often put off estate planning until it is too late. Estate planning can be daunting and complex, but we can help you craft a plan that fits your unique situation and protects both your loved ones and your legacy. Some common life events that prompt our clients to make an estate plan are: • The birth of a child • Buying their first home • Taking stock of their finances and realizing they have more assets than they thought • A spouse or parent develops dementia • An adult child files for bankruptcy, making them realize they can’t be trusted to manage money Here are a few clients we have helped (with names and details changed), just to give some examples. Chris and Samantha Chris and Samantha were thrilled with the birth of their first daughter. She was perfect in every way, and they knew they would do anything to protect her. Being an emergency room nurse, Samantha was all too aware of how quickly tragedy can strike. They considered whom they would trust to care for their daughter and quickly realized there were certain family members they would never trust to care for their child. At the same time, there were others they knew they could not trust to manage their assets to provide for their child. Finally, they were very sure they did not want their family members to struggle through probate. The attorneys at Stratton & Reynolds were able to help Chris and Samantha craft an estate plan that protected their child and gave them control over her future in the event of a tragedy. Michael and Emily Michael and Emily had just purchased their first home together three years after getting married. They wanted to be sure that in the event of one spouse’s death, the other would inherit their home with minimal expense and hassle. The attorneys at Stratton & Reynolds were able to create a trust that will allow them to avoid probate and the headaches and expenses that go with it. Jim Jim was forced to take stock after his wife of 43 years died without a will. The time, hassle, and cost of probate convinced him to look at the value of his home and retirement accounts. Jim realized that while he was not wealthy, he had assets he wanted to see go to
his loved ones more smoothly and with less cost. We were able to help Jim achieve peace of mind about his loved ones’ futures and his legacy to them with a comprehensive estate plan. Mariana Mariana had a spouse who developed dementia. They had done no prior estate planning, and Mariana needed to be able to make medical and financial decisions. She was also worried that when he died, his children from a prior marriage would inherit a share of the home they had bought together. This kind of situation is the saddest that we see. Mariana had to go through an expensive and lengthy court process to be appointed her husband’s guardian in order to make financial decisions for him. Because of South Carolina’s inheritance laws, her stepchildren would inherit a portion of the home when her husband died, leaving her extremely vulnerable to their decisions. If her husband had created some simple estate planning documents before he developed dementia, he could have specified that Mariana had use of their home for the remainder of her life, and he could have designated her as his power of attorney in the event he was incapacitated, saving a lot of heartache and expense. Richard Richard had a son who had always struggled with money, but Richard tended to excuse his behavior and even bailed him out by paying off credit cards. When this son got into debt so deep that his only option was to declare bankruptcy, Richard had to face facts. He came to our attorneys to see what could be done to keep this son from spending everything Richard had worked his whole life to accumulate and to be fairer to his other children. We were able to craft a living trust that allowed Richard to use his assets for the remainder of his life and prevented his son from going through his assets too quickly after he passed away. Richard also elected to leave a little extra to his two other children since he had helped his son so much over the years. Everyone really does need an estate plan. A well-crafted plan protects those we care most about. It avoids the hassle and expense of probate and takes your unique situation into consideration. Our attorneys enjoy getting to know each client and crafting a unique estate plan that will protect their loved ones and their legacy. Call us today if you or a loved one needs to get a plan in place. Let’s get started. –Chastity and TC
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COOK WITH YOUR KIDS TO MAKE MEALTIME MEANINGFUL!
As a parent, it can be incredibly challenging to nail down the perfect weeknight dinner menu that makes every hungry mouth in your home happy. This is especially true when you have picky little ones who demand waffles for dinner or dinosaur chicken nuggets seven nights a week. You may feel like your days as a short-order cook are endless, but we’re here to tell you about a simple trick to making healthier meals everyone in your family will enjoy.
The trick is quite simple: Have your kids cook with you! Cooking with your kids has multiple benefits that stretch far beyond the kitchen table, but the immediate reward is that you won’t cook alone anymore! Next time dinner time rolls around, grab your little sous-chefs to lend a hand so they can enjoy these three benefits. No. 1: Cooking teaches life skills. It may seem far off, but one day, your child will have to cook for themselves and eventually their own children, too. By teaching them the basics of cooking now, you’re providing them with a skill they’ll need to be capable adults. No. 2: Cooking creates an adventurous eater. Imagine seeing something like asparagus or artichoke on the plate in front of you for the first time and being told you must eat that weird-looking thing. That’s how many children experience food for the first time, which can feel like a scary experience. Kids who help cook in the kitchen are much more likely to try new and adventurous foods because they’re exposed to them and other ingredients over a period of time. They touch, slice, smell, crush, and season the foods before they ever eat them. So, by the time it hits their plate, it’s not so scary! No. 3: Cooking promotes healthy development. Time spent in the kitchen isn’t all about eating, either. While cooking, children stir, mix, measure, roll, squeeze, spread, observe, learn, and count. These activities all help develop fine motor, hand-eye coordination, math, and science skills, not to mention creativity!
If you have created a revocable living trust with us in the last couple of years and have seen your property tax rate change on your primary residence, please give us a call. After your home is transferred into your trust, the county often requires the tax exemption forms to be filled out a second time. We are happy to help with filling those out and filing them with the documentation the counties need. Also, remember that you will qualify for the homestead exemption the year after you turn 65. This can lead to a significantly reduced property tax bill. If you believe you may qualify, be sure to contact your county auditor’s office, or feel free to call us with any questions. Keep in mind that a surviving spouse may also qualify for this exemption if their deceased spouse qualified or would have qualified. If you have questions about any of these issues, please give us a call! A Quick Reminder About Property Taxes
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You’ve probably watched some action-packed movie where the premise relies entirely on the belief that we only use 10% of our brains. The protagonist somehow “unlocks” their full brain potential and gains superhuman abilities. While movies like “Lucy” and “Limitless” are undoubtedly entertaining, the concept that we only utilize 10% of our brains is entirely false. Despite this widespread belief being entirely inaccurate, many believe it to be a valid scientific finding. In fact, one survey found that 65% of Americans believe in the 10% theory. Even more frightening is the study that revealed nearly 50% of primary and secondary school teachers in many countries believe this myth. So, how much of our brains do we really use? Understand the truth about our brain power. With the help of modern technology such as PET (positron emission tomography) scans and fMRI (functional magnetic resonance imaging), we can clearly see that humans use all of their brains at all times. Yes, even when we sleep! Individuals with degenerative brain diseases such as Alzheimer’s and Parkinson’s disease still use more than 10% of their brains. Our evolutionary process also would have ensured the useless 90% of our brains would go away through natural selection if this myth were true. When it comes to brain activity, each part of our brain has a function. Where did the 10% myth come from? Despite being a common misbelief, the exact source of this myth is unclear. Many threads lead back to various archaic medical findings that were either misconstrued or outdated and inaccurate. It’s plausible that pseudoscientists, psychics, and self- help gurus falsely perpetuated the 10% myth to sell the desire to “unlock our full potential.” So, the next time you hear someone mention we only use 10% of our brains, you can dispute that myth with abundant and trustworthy scientific sources to back you up. MIND OVER MYTH: The Truth Behind Our Brain Power
TAKE A BREAK!
Solution on page 4
Jalapeño Popper Mac and Cheese
Inspired by TheModernProper.com
INGREDIENTS
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2 sticks butter, divided
2 tsp garlic powder
1/3 cup flour 5 cups milk
1/2 tsp pepper
1 lb bacon, chopped and cooked 8 jalapeños, seeded and chopped 1 lb macaroni, cooked
8 oz cream cheese
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3 cups shredded white cheddar cheese, divided 4 cups shredded pepper jack cheese, divided
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1 cup panko breadcrumbs
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2 tsp salt
DIRECTIONS
1.
Preheat oven to 375 F. 2. In a large saucepan, melt 1 stick butter over medium heat. Add flour and whisk until fully absorbed in butter. Whisk in milk slowly. 3. Once sauce thickens, stir in cream cheese and shredded cheese until melted, reserving 1 cup of each shredded cheese. Add seasonings, bacon, and jalapeños before removing from heat, then combine pasta and sauce. 4. In a small skillet, melt remaining butter and stir in panko. 5. In a greased baking dish or skillet, add macaroni and top with panko and remaining cheese. Bake for 30–40 minutes and serve warm.
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Call Now! 803-358-7214 www.strattonreynolds.com
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905 Old Cherokee Road Lexington, SC 29072
Inside this Issue
Why Should I Have an Estate Plan? PAGE 1 Kids in the Kitchen: Wholesome Family Bonding PAGE 2 A Quick Reminder About Property Taxes PAGE 2 Jalapeño Popper Mac and Cheese PAGE 3 Full Brain Activation: The Real Story Unveiled PAGE 3 Personalized Vacations With AI PAGE 4 AI-Enhanced Travel: Your Secret to the Perfect Itinerary
The feeling of excitement for an upcoming vacation can quickly turn into one of stress. After you purchase your ticket or plan your travel, you may feel so burnt out that scheduling day-to-day activities for said vacation feels impossible. Thankfully, helping you create an itinerary is where AI thrives. So, how do you use AI to help you plan a trip? The first step is to craft a prompt that will get the best response possible. To do that, ask your preferred AI platform questions in your native language. AI understands many languages, and your grammar and syntax when asking questions matter when looking for perfect results. The more grammatically accurate your sentence is, the more artificial intelligence can help you.
Next, you need to be as specific as possible. Include all relevant information about your travel party when asking it to make plans for you, including if there are any kids, elderly travelers, pets, dietary restrictions, interests, or priorities because those factors will impact the results it gives you. You should also tell the AI software when it misunderstands you or gives you results that don’t match what you want. AI, like ChatGPT, uses large language models (LLMs) to learn from the person interacting with it, so the back-and-forth of providing feedback helps it pinpoint your specific interests to give you better information. For example, you can provide this prompt: “Make me a travel itinerary for seven days in Rome with activities in less
crowded areas that are accessible to elderly travelers.”
Finally, double-check any of the information AI gives you. Most platforms can only access information available before 2021, so certain attractions, restaurants, parks, or other itinerary items may not exist anymore. Want to give AI travel a go? ChatGPT isn’t the only site you can use to plan your itinerary! You can try any one of the following AI software specifically created for travel: • Tripnotes.ai • RoamAround.ai • Curiosio.com
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