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April 2021
Difficult but NecessaryWork What Your Family Needs to Know About Your Estate Plan
Every April, thousands of the world’s greatest athletes assemble in Massachusetts for the Boston Marathon. It’s one of the most prestigious races in the world, and I’ve always been in awe of the athletes
Your family doesn’t have to be part of those statistics and so many others that indicate
financial illiteracy is an issue. When it comes to your estate plan, your family’s financial knowledge and well-being are vital. You want to ensure the inheritance and assets you leave behind will be used appropriately and according to
who run in this competition. As a runner myself, I know just how hard they had to train to be accepted into that race. I wasn’t always a runner; I was a competitive swimmer and even competed in the Junior Olympics. But when I was graduating law school, I met someone who was a triathlete. I really wanted to try that. Since I was already a good swimmer, I bought a bike and also started running.
your wishes. Your family and heirs need to know what your wishes are, what is included in your estate plan, and how they can best utilize your assets.
Everyone should know a few key parts of financial literacy. The first is understanding cash flow — it’s not just a matter of having more money coming in than going out; it also includes diversification. Debt is another important aspect. There are good debts, but there are plenty of bad debts, too. It’s important for people to know the difference and how to approach each. Finally, it’s imperative to consider real estate syndication as well. (We can help with this.) These conversations are not always easy, and providing educational tools and materials to help your loved ones learn more about their financial futures might feel awkward, but think of it this way: Do you want your money to go toward one great weekend in Las Vegas or to help make their financial hurdles — like student loan debt or purchasing a house — much easier to overcome? Starting these tough conversations — like those first 100 yards — won’t be easy, but the peace of mind that comes with financial literacy is well worth the time spent studying it. Don’t
Those first 100 yards were painful, but I kept running longer and longer distances. Soon, I was racing in my first triathlon. That was a pivotal moment in my life. Crossing that finish line was one of my greatest successes because I proved to myself that I could take on any challenge. I often look back on that moment for inspiration whenever I’m tasked with something daunting. Then, I kept going. I was once president of two separate local triathlon clubs, have now run multiple half-marathons, and I’ve even competed in two marathons since that first triathlon. The best part was knowing that I was far better than I was when I first started or even a year prior. I was constantly improving and challenging myself. It took a lot of dedication and training, but it was worth the time, pain, and determination. The same can be said for any new challenge, including financial literacy. The statistics about financial awareness are bleak. According to the most recent survey by the National Financial Educators Council, 1 in 4 Americans say a lack of personal finance education has cost them more than $30,000 across their lifetime. Furthermore, financial illiteracy costs Americans $415 billion annually.
hesitate to give us a call if we can help your family learn more about your estate plan or help with real estate syndication.
–Tilden Moschetti, Esq.
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It’s difficult to take animal products out of French cuisine and replace them with lemongrass, seaweed, and fir (yes, the tree). French meals are generally meat-centric, featuring vegetables solely as a side dish. And, even with no meat, how do you cut out cheese and cream? Claire Vallee, owner of the vegan restaurant ONA, found a way. The name is an acronym, standing for “origine non-animale.” And her restaurant, located near Bordeaux, France, was among the 54 restaurants to earn their first Michelin star in 2021. Although a few restaurants in the U.S. and Germany featuring vegan dishes have earned Michelin stars in the past, no restaurant that was 100% vegan has been honored with a star. ONA had a bumpy start despite this amazing honor. After crowdfunding and securing a loan from La Nef, which specializes in loans for ethical and eco-friendly businesses, Vallee still ran out of money to complete construction. Undaunted, she used social media to rally 80 volunteers to help finish the job over the course of two months. She finally opened ONA in 2016. “This is a good thing for the vegan community, as this star is evidence that French gastronomy is becoming more inclusive, that plant-based dishes belong there, too,” Vallee told CNN. FOR THE FIRST TIME, A VEGAN RESTAURANT GETS A MICHELIN STAR
During the initial phases of the COVID-19 pandemic, ONA went to takeout only. With the rise in popularity of plant-based diets, demand for vegan restaurants has been growing, but ONA still struggled. Last fall, its seven-course menu featured dishes with intriguing combinations of fir, boletus and sake shiitake mushrooms, dulse seaweed, lemongrass, and galangal (also known as Thai ginger). Today, the restaurant is currently closed because of the pandemic, but the victory is huge for French cuisine. Gwendal Poullenec, the international head of the Michelin Guides, told The New York Times, “The general public might not associate pure veganism with a gastronomical experience.” But a Michelin star could liberate chefs who are still reluctant to explore plant- based cooking. For most of us, international travel won’t be on the menu anytime soon — but we hope ONA opens its doors again soon. The world deserves to enjoy ONA’s award-winning menu!
UP IN FLAMES THE FYRE FESTIVAL’S LEGAL FALLOUT FOR INFLUENCERS
Influencer marketing has long been a legal gray area, but recently settled celebrity lawsuits related to the Fyre Festival — a failed luxury musical festival — have definitely added some color to the debate. The idea for the Fyre Festival came from rapper Ja Rule and his business partner Billy McFarland, a 25-year-old CEO of a luxury concierge service. The duo created the event together and touted it as the world’s most expensive
hundreds of day laborers working,” says Smith. “Fyre had such a high profile that I don’t think anyone could have assumed that it wouldn’t work out.” As the Fyre Festival fell apart, Gregory Messer — the trustee in charge of overseeing the bankruptcy for Fyre Media — looked into the finances. He began to suspect that there had been “fraudulent transfers” between the founders and many of the event’s promoters, and he began to sue the celebrities and influencers that drove the hype behind the festival. For example, McFarland and Ja Rule reportedly paid Kendall Jenner over $275,000 to publish an Instagram post promoting the festival. Although Jenner denied liability, she did not disclose on the post that it was paid and sponsored. Messer’s attorney further argued that Jenner had not told her Instagram followers that she’d pulled out of the festival after learning of its disastrous problems. Although more legal parameters will likely spring up in the future to further define the limits of influencer marketing, this will certainly make any celebrity think twice about accepting money to promote events and brands. And that’s definitely for the best!
music festival. They’d also launched an attractive marketing campaign which included celebrity promotions by Kendall Jenner, Bella Hadid, and other influencers. All the while, the organizers knew the Fyre Festival was doomed from the start. In lieu of a multiday, luxury experience, thousands of people were scammed and left stranded in the Bahamas instead.
“[The organizers] had six to eight weeks to pull off something that should have taken close to a year,” says Chris Smith, who directed a Netflix documentary on the festival. “But what was most surprising to me was going to the Bahamas and seeing the aftermath of what was left behind and the effect on the people there.”
The local economy was devastated. “They had engaged with so much of the local community to try and pull this off. There were
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As April showers arrive, how do you stay dry when dashing from place to place? Luckily, wearing a raincoat doesn’t mean looking like Paddington Bear anymore. Here are several raincoat styles you’ll love so much you’ll be praying for rain. Trending Raincoat Styles for 2021
FOLLOWUS! to go. Highly recommend!” -Sofia H. a simple will or a complex plan, this is the place “Tilden is excellent! He truly cares about his clients. He can help you put together all sorts of estate planning matters. Whether
No. 1: The Everyday, Lightweight Hoodie Raincoat
There’s something satisfying about wearing a black hoodie and not having to make other decisions about an outfit that day. The same applies to your everyday, lightweight black hoodie raincoat. Beautifully simple, you can wear it over anything you own — but until the rain comes, you can leave it rolled in your bag or pocket. Yes, it’s that compact! Check out Rain’s Ultralight Jacket on US.Rains.com , which fits the bill perfectly.
No. 2: The Confident, Classic Trench Raincoat
Just because you have a trenchcoat doesn’t mean it’s rainproof anymore — so why not buy a fashionable, elegant trenchcoat you can wear
SPRING VEGETABLE AND CHICKEN PASTA BAKE
Inspired by TheSeasonedMom.com
Ingredients
rain or shine? A high-quality trenchcoat is super practical, and it’ll also give you a classic, on-trend look for years to come. Find yours on Zappos.com , which has beautiful coats that’ll last a lifetime at a decent price.
1 cup cooked chicken, diced
1/2 cup fresh chives, chopped and divided 1/4 cup fresh parsley, chopped and divided 2 tsp minced garlic
• •
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1 14-oz can artichokes, drained and quartered
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1 cup fresh asparagus pieces 1/2 cup carrots, grated 1 1/2 cups uncooked penne pasta 1 3/4 cups chicken broth
• • •
No. 3: The Practical, Stylish Poncho
• • •
1/4 tsp salt
Ponchos are a rainy day favorite because they’re affordable, easy to put on no matter how bulky your clothes are, and generally easy to store once you’re done wearing them. If you live somewhere that doesn’t rain often or you just prefer the feeling of a loose wrap, then a light poncho might be your best option. Some even include pockets, making your life a little easier wherever you’re headed! Try Amazon.com to find diverse styles at various price points. Of course, we cannot ignore the popularity of Sherlock Holmes. Will his raincoat, the Inverness cape, be the next sensation? Combining elements from a poncho and trenchcoat, the Inverness cape is a unique style that’s fashionable and practical! No matter which style you prefer, these coats prove that looking good while staying dry is possible.
1/4 cup grated Parmesan cheese, divided
•
Directions
1. Preheat oven to 425 F and grease an 8-inch square baking dish with cooking spray. 2. In the prepared dish, stir together cooked chicken, artichokes, asparagus, carrots, uncooked pasta, chicken broth, half the chives, half the parsley, garlic, salt, and 2 tbsp Parmesan. 3. Cover the dish tightly with foil and bake for 35 minutes. 4. Uncover and stir. At this point, check the pasta to make sure it is al dente. If it’s undercooked, cover the dish and return to the oven until pasta is tender. 5. Remove from oven and garnish with remaining Parmesan, chives, and parsley.
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THIS ISSUE
Helping Your Family Train for Their Financial Futures
1
For the First Time, a Vegan Restaurant Gets a Michelin Star The Fyre Festival’s Legal Fallout for Influencers
2
Spring Vegetable and Chicken Pasta Bake This Spring’s Trending Raincoat Styles
3
AI Is Helping Us Explore Space!
4
Genius Technology 3 WAYS AI IS CHANGING OUR LIVES FOR THE BETTER
Detecting Disease
Artificial intelligence (AI) became a household feature when Apple introduced us to Siri, and it expanded with Amazon’s Alexa and Google Home. However, AI can do so much more than tell us the weather or answer our customer service questions. Today, AI is more advanced than ever, and as engineers continue to tweak its capabilities, it continues to shape the way we think about the future. Here are three ways AI is expanding beyond computer programs.
Our health has never been more in focus than it is today, and innovators know that. Some AI devices now can detect illness just by smelling someone’s breath. The bots are designed to pick up on certain odor cues that the body gives off while fighting diseases, like cancer or diabetes. While these machines are still in the implementation and development phases, they have the potential to improve diagnostic testing and find diseases in the near future.
Exploring Mars
Creating Better Engineering Platforms
Putting humans on Mars is NASA’s ultimate goal, so it’s probing for safe landing sites on the big red planet with the help of AI. For the past 15 years, scientists have relied on the Mars Reconnaissance Orbiter to send photos and other valuable data to NASA. One of the crucial aspects of the planet that NASA needs to study is the craters, both old and new. But expecting the orbiter to find these with precision hasn’t always been easy. In 2020, NASA scientists developed an AI software that could detect fresh craters on Mars’ surface in the photos that the orbiter sends back. This has already led to the discovery of dozens of once-hidden craters in the orbiter’s photos.
Engineers have thankless, albeit powerful, jobs. While they’re responsible for some of our biggest achievements, much of their job is spent tinkering with existing models to improve small components for greater success. Thanks to AI, Stanford University professor Chris Re surmises that engineers may be able to spend more time playing with greater ideas instead. Machine-learning technology is capable of understanding where the pitfalls in a device lie and how it would need to be improved. This can cut down on time spent doing mundane work, and instead, engineers can move innovation along faster than ever.
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