Check out our August newsletter!
Notes From The Field
August 2025
818-369-7900 | 435-216-4444 | FieldLawPC.com
The Best Is Yet to Come Continuing Education, Community Events!
For many, the thought of retiring is terrifying as it seems to mark the end of life as you know it. The truth is, it is the end of many facets of your life as it has revolved around your career and the personal goals you have attached to it. Still, retirement offers many new experiences and challenges worth exploring. No matter your age, it’s never too early to start planning for retirement. Although the most common place to begin is with finances, we have found the wisest starting point is envisioning your life. By starting with your plans and expectations, you can work backward to determine what logistics you need to coordinate. Here are some questions to help you begin. 1. Where do you want to primarily spend your time in retirement? 2. Do you plan to live on your own, in a 55-plus community, or in an assisted living space? 3. Do you see yourself traveling for leisure or visiting loved ones? 4. Are you interested in volunteering or working a retirement job? 5. What support system do you have in place to help you through the transition to retirement?
Now that you have mapped out a vision for retirement, it’s time to get to work! When planning your finances, there are excellent resources available both online and at your local library to get started. One common practice for people currently employed is to set aside between 10%–15% of their pre-tax income, including any employer contributions. These funds should always be separate from any emergency fund that you have created for your family. While this figure is a great start, you should also seek the counsel of a licensed professional to help map out your specific financial needs. Talking to a Certified Financial Planner will help you evaluate your current circumstances and create a clear plan. Ideally, you want to develop a relationship with an advisor who will walk with you through each stage. It’s imperative that the person you develop this relationship with is someone who will take time to understand and address your specific situation. While there are many great general practices, you need a personalized approach to ensure all your hopes and concerns are captured. You will also want to talk to a Financial Coach who can discuss your investment strategies to ensure you are prudently and diversely invested in the market according to your risk tolerance. As you approach retirement age, it is a good idea to discuss withdrawal strategies for your investment accounts and a plan for when to begin taking your Social Security. These two steps will be critical to your success later in life. Once you have your financial goals set, you can plan your next steps. Many retirees consider whether they want to live in their current house or keep their home but move
into a different property. Another option is to sell their current home and downsize to a new location. Depending on your current property, your choices can impact your finances later in life. If you have a family home, it is worth considering any family members who may be impacted by your selling the property. Lastly, you should consider what your community will look like during retirement. Many cities and local colleges offer programs and classes to retired members of the community. In addition to continuing education opportunities, libraries and other community centers provide a much-needed third space. Some amenities available include book clubs, social gatherings, and clubs for special interests. Whatever you choose to do, it is worth remembering that retirement offers you the opportunity to explore new parts of yourself and the world around you. At Field Law and Field Freedom Advisors, we are committed to helping families plan out their futures to live well. Our office provides quality support with creating estate plans, financial planning, and investment coaching. If you are interested in discussing your future plans, contact our office today to set up a conversation and take the next step. For our clients in California, we are hosting a Retirement Workshop at The Church On The Way on Saturday, Aug. 23, at 9 a.m. To register for this event, contact our office today by emailing our team or calling 818-369-7900 . We will soon announce future dates for this workshop in Utah and on Zoom, so be sure to check out our upcoming newsletters.
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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.
MEET OUR NEWEST TEAM MEMBER: Sam Cook, Office Assistant
Since you are an important part of our Field Law Family, we are excited to share that we have a new team member, Sam Cook! Sam will be connecting with clients by phone and in our La Crescenta office on a schedule-only basis, assisting with document creation and providing office support to our team. Prior to joining our team, Sam worked in the food industry and as an assistant coach for the Hoover High School Varsity Girls’ Soccer Team! She also recently graduated from Utah Tech with her bachelor’s degree in psychology and human development. When discussing her studies, she shared, “It wasn’t easy, but it was definitely worth it!” Sam’s true purpose in life is finding new passions that motivate her, bringing happiness and comfort to her community, and making a difference in the world, whether big or small. Her bright mind and attention to detail help her fulfill this purpose as she uses those skills at Field Law. Of our Core Values, Sam resonates most with Freedom. “When I think of freedom, I think of individuality and expression, which have been important to my self-discovery and growth as a person for a long time.” She is eager to help our clients on their journey toward freedom and peace of mind.
dad is incredibly forthright and encouraging. He gives her direct advice, and his belief in her inspires her to grow every day. Her favorite movie is “Good Will Hunting” because “not only is it a great example of self-discovery, but it also shows the ability one has to conquer any challenge regardless of their environment or circumstance.” We are excited to have Sam as a member of our team and look forward to the ways she embodies our mission to empower families to live lives of freedom as she interacts with each of you!
Outside of work, she loves spending time with her parents. Her mom is incredibly supportive, and her love guides Sam through many tough challenges. Meanwhile, her
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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
TAKE A BREAK
BEER FAMILY LEO LUNCHBOX MUSTARD PERIDOT POPPY SISTERS TWINS VACATION WATERMELON ZUCCHINI
One of the most legendary stump homes was the Lennstrom Stump House in Edgecomb, Washington. Crafted from a cedar stump 22
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
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INSIDE THIS ISSUE
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The Best Is Yet to Come
Post-Work Wealth Wisdom
Meet Sam Cook, Our Newest Team Member
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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 a will 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 will (and potentially a trust) can save your loved ones a world of trouble — and ensure your legacy is handled exactly the way you want.
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