PARENTING FOR RESILIENCE: EMPOWERING YOUR CHILD’S MENTAL STRENGTH
Parents want to raise kind, happy, fulfilled, and resilient children. And while thousands of parenting books discuss changing diapers, nutrition for growing tots, or even the ins and outs of a child’s brain, few resources exist to help parents raise mentally strong children. Before going any further, defining what “mentally strong” means is essential because teaching a child something you don’t know yourself is nearly impossible. What is mental strength? BetterUp, the world’s largest mental health and coaching startup, defines mental strength as “the cognitive and emotional skill of reframing negative thoughts and adverse circumstances.” Essentially, it’s a child’s ability to “turn that frown upside down” in a healthy way all on their own.
Mentally strong children also experience less stress, more motivation, and increased adaptability. They’re better at viewing challenges and setbacks as temporary roadblocks instead of end-all-be-alls, and they can self-soothe in times of fear or anxiety. By internally reframing negative emotions, mentally strong children will grow to become adults who are more connected to their true selves. They are more motivated to push through anything that may stand in their way. So, how do you raise mentally strong kids? The answer is simple yet challenging. All the benefits mentioned are available to children as long as parents follow one simple rule: Let children solve their own problems. To many parents, the idea of leaving their children to suffer through hardship alone is terrifying, but the truth is that the more problems you solve for
them, the less competent they become. Think about it. What does solving their problems
for them teach? That when the going gets tough, their parents will sort it all out, and everything will be fine. As adults, however, we know this couldn’t be further from the truth. So, next time your children come to you with a problem, give them the task of solving it themselves. Ask them, “What do you think we should do about that problem?” and refrain from giving any advice until they’ve come up with a few ideas of their own! Your guidance and encouragement will help them build confidence in their own problem-solving skills.
HOW REVOCABLE AND IRREVOCABLE TRUSTS OFFER DIFFERENT LEVELS OF SECURITY Choose the Right Trust For You
We know that estate planning terms aren’t the simplest to understand. That is why we share as much information and as many resources as possible with our clients. One question we are often asked is what is the difference between a revocable and irrevocable trust?While both trusts allow you to organize and transfer your assets, there are significant differences that you should know before deciding on one or the other. What is a Revocable Trust? Like a will, you have every right to change the terms of a revocable trust without any official reason or request as long as you are considered competent. This type of trust is the most flexible, as you always have the option to add or remove beneficiaries and assets. However, revocable trusts are considered part of your taxable estate. This means that the assets in this trust are open to estate taxes once you pass away. Another factor to consider is that revocable trusts can be susceptible to creditor claims and lawsuits against the trust’s creator (also known as the grantor). What is an Irrevocable Trust? Unlike a revocable trust, an irrevocable trust cannot be easily altered. It will take either an agreement signed by all the beneficiaries or a judge’s approval. While this type of trust is not as common because of its strict nature, it is a smart option for those with a considerable amount of assets they would not want their loved ones to pay estate taxes on. Not only are they not
considered taxable estates, but irrevocable trusts are also safe from certain creditor claims.
The Key Difference You can probably guess the main difference due to the names.
While a revocable trust can be altered and revoked at any time by the grantor, an irrevocable trust can only be modified with a court order or an agreement among all the beneficiaries. Yet, both trusts are sound options for those looking to gift their estate without undergoing the probate process.
If you know someone who may want to determine which trust best suits them and their estate, they can contact our knowledgeable team at 317-726-1714 .
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