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even if she left it to her daughter. He also may have had a right to the car as part of the statutory right to an elective share as the spouse. Conclusion As you can see, there are many issues most unmarried couples who are in loving and committed relationships don’t think about. While only marriage can fix the Social Security benefit issue, all of the other issues raised can be fixed with proper estate planning documents, as long as you don’t wait until it’s too late .
Legal Issue No. 3 — Housing Upon the death of Sue, since she had no Last Will and Testament leaving the house to Bob, or at least giving him a life estate to live there as long as he lived, the daughter tells him to get out as she is selling the property and Sue’s car. Bob is now homeless and carless. If they had an estate plan, Sue could have provided for him to live there as long as he lived and then have the house go to her daughter. Sue could have also left him the car. Or, if they were married, even if the house was just in her name, as the surviving spouse, he would have the right to live there COALITION CORNER New Opportunity for Growth: ‘Margin and Mission Ignition’ As I wrote about a few months ago, the Homeless Coalition moved its earned income venture, known as Fabulous Finds and Unique Boutique, to a new space. Almost simultaneously, it was presented with a great opportunity by The Patterson Foundation (ThePattersonFoundation.org) to increase the profitability of the store. However, before I explain this special opportunity, I would like to give you a brief history of Fabulous Finds. It was 10 years ago when the Coalition Board set out to come up with an earned income venture. After some failed experiments, it was decided to open a thrift store. However, it took three years to come up with a business plan and raise the initial capital of $100,000 to open the doors at its first location. While the store was always profitable, it was not generating enough of an income to make a meaningful difference in the lives of our clients who depend upon the Coalition. As a result, the Board, guided by the leadership of CEO Tina Figlioulo and her team, made the bold decision to move to a larger space and better location across from Lowe’s in the old LTM Party Store right on Route 41 in Port Charlotte. As a result, as they say, business has been booming, but the store still needs the infrastructure, support, and tools to maximize the benefits of the new location. That’s where The Patterson Foundation stepped in and chose the Coalition to participate in its initiative called Margin and Mission Ignition. As a result, I was part of a group of Board members and leadership of the Coalition that worked with the “No Margin, No Mission” team of Larry Clark and Michael Oxman (NoMarginNoMission.org) to coach and guide us in formulating a business plan to make a monetary “ask” of our supporters. After months of weekly meetings, multiple drafts, revisions, and massaging, a business plan was produced outlining the needs of the store to increase the profitability and, therefore, the benefits to the
–Mark Martella, Esq.
Coalition’s clients and mission to prevent hunger and homelessness in our community. It is an impressive 65-page document, providing a SWOT analysis and financial projections, along with a detailed explanation of how the funds will be used including, but not limited to, the purchase of a new box truck, point of sale system, and hiring a social media and internet marketing specialist to increase online sales. The total ask is $150,000, of which $100,000 is earmarked for a new box truck, which is essential for improving the most profitable area of the store, furniture sales. At the end of year three, we project to increase the store’s profitability by $90,000 a year. Following the Margin and Mission Ignition model, the next step was to have a Shark Tank-like presentation to potential donors (although a kinder and gentler version). The ask was presented by CEO Tina Figlioulo and Director of Operations Michael Davey. The event was held at the end of July at the Laishley Community room. To our amazement, we received two matching donations (meaning if we raise these funds, the donors will match dollar for dollar). The first was from Euro-Wall for $75,000, and then, at the end of the event, Michael Corley, representing The Patterson Foundation, announced a $50,000 matching grant. Therefore, we have an opportunity to raise an amount far exceeding our initial goal. If you would like a copy of the business plan, a tour of the Coalition’s campus, or to donate to the Margin and Mission Ignition initiative, please contact Jennifer Welch, Director of Development with the Coalition, at 941-627-4313. Please also visit Fabulous Finds, located at 1931 Tamiami Trail in Port Charlotte. To donate gently used furniture, please call 941-979-8230. –Mark Martella, Esq.
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