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405-843-6100 | 918-615-2700 | ParmanLaw.com October 2025
The Future Is Here DIGITAL ASSETS AND AI IN ESTATE PLANNING
Clients and Friends,
I hope this message finds you well and enjoying the transition into fall. As I reflect on recent conversations with clients, colleagues, and friends, one theme keeps surfacing: The pace of change in our world is accelerating and, with it, the complexity of planning for the future. Estate planning, once viewed as a static set of documents, has evolved into a dynamic process that must adapt to shifting laws, technologies, and family structures. While the fundamentals remain, the questions people are asking today are different. They’re deeper, more nuanced, and more urgent. For example, we’re seeing a surge in interest around digital assets , everything from cryptocurrency to social media accounts. Clients want to know: Who will manage my online presence when I’m gone? How do I protect my digital legacy? These are no longer fringe concerns. They’re central to modern estate planning. From our previous summary, you can imagine clients are also wondering about the implications of the One Big Beautiful Bill Act of 2025 , signed into law on July 4, 2025. Because the gift and estate tax exemption was permanently increased to $15 million (at least until another law replaces it), many are asking more questions about the implications for their federal income taxes, credits, and deductions. This reinforces the point we often make: Coordinating your estate, financial, and tax planning is more important than ever. This is prompting many to revisit their previous decision about how to best maximize and protect their wealth, which is where we shine for you. And then there’s the human side of planning. Families are more complex than ever: blended households, unmarried partners, stepchildren, and friends who feel like family. State laws don’t always recognize these relationships, which makes formal planning essential. Without it, the people you care about most may be left out. We’ve also seen a rise in long-term care concerns , especially as costs continue to climb. We are beginning to hear reports that families are paying $10,000 per month for nursing home expenses, and memory care often exceeds $15,000 per month. Medicaid
planning, dementia directives, and hybrid insurance solutions are becoming part of everyday conversations. It’s not just about protecting assets; it’s about preserving dignity and choice. Finally, I’d be remiss not to mention the role of AI and technology . Some clients are curious. Others are skeptical. But the truth is that AI is already influencing how documents are drafted and reviewed. The key is using it wisely, with professional oversight and a human touch. What AI cannot do is sit down with you and have a conversation about your goals, challenges, and concerns, then offer expertise that unlocks the door to your peace of mind. Real intelligence or artificial intelligence? Your call. If you’ve been putting off a review of your estate plan, now is the time to act. The landscape is shifting, and staying ahead of it ensures your plan reflects your values, protects your loved ones, and stands the test of time. As always, we’re here to help you navigate these changes with clarity and confidence. Give us a call if you’d like to schedule a review or discuss any of these emerging issues.
To Your Family’s Peace of Mind,
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The Child-Free Retirement Playbook
SECURE, SMART, AND SATISFYING
When you look into why people decide to create an estate plan, you’ll find a common thread connecting the top reasons. Many people want to leave money or assets to their heirs, ensure their kids have a prosperous future, and provide a plan regarding guardianship for any minor children. Many common reasons for estate planning involve children, but what if you never had any? Is it still necessary to create an estate plan? Do you need to take other actions to plan for your senior years properly? For starters, everyone should establish an estate plan, regardless of age, family situation, finances, or health. Creating an estate plan allows you to lay out your wishes for various aspects of your life. You can determine what will happen to your money and personal possessions, who can make health care and financial decisions
on your behalf, and more. Establishing an estate plan lets you gain peace of mind about the future while ensuring your loved ones follow your wishes. When looking toward your senior years, estate planning will only get you so far. You should take other actions to ensure you can enjoy retirement comfortably. Consider looking into long-term care insurance to help offset the cost of anything from home health care to a nursing home. Get out of your comfort zone to meet new people and find a network that provides assistance, encouragement, and support. You can do this by getting more involved with your community, church, or other local organizations. Another thing you should do is list out all your important information. Keep records of your bank accounts, insurance policies,
important contact information, monthly bills, and upcoming medical appointments. Having this information on hand will make everything easier if someone else has to step in to help out. Your senior years do not have to be confusing, challenging, or lonely if you have never had children. By taking action and making plans, you can make the most of your retirement and enjoy it to the fullest!
CREATIVE TRICKS TO BEAT DOGGY BOREDOM KEEP THOSE PAWS BUSY
Teach a new trick. Who says you can’t teach an old dog new tricks? Training sessions teach obedience and provide mental exercise! Whether it’s “shake,” “spin,” or even “put your toys away,” learning something new gives your dog a sense of purpose and boosts your bond. Schedule short, interactive play breaks. Even five minutes of fetch or tug-of-war can break up the day and add excitement. Short bursts of play are especially great for working pet parents or anyone with a packed schedule. Enrichment on a budget. You don’t need to spend a lot to keep your pup engaged. With a bit of creativity, cardboard boxes, old towels, and even ice cubes with treats frozen inside can become boredom busters. Think of it as DIY enrichment!
Have you ever come home to find chewed shoes, shredded pillows, or your trash mysteriously scattered across the floor? If your dog has become a one-pup demolition crew, boredom might be the culprit. Like us, dogs need mental stimulation and activities to keep their minds sharp and their behavior in check. The good news is that you don’t need fancy gadgets or
endless free time to keep your dog happy. A few simple tricks can go a long way in keeping their tails wagging and your belongings intact. Make mealtime a game. Ditch the food bowl and turn mealtime into a brain workout. Try using treat-dispensing toys or puzzle feeders that make your dog work for its food. You can also scatter kibble around the house or yard and let them “hunt” it down. It taps into their instincts and keeps them busy in a fun and rewarding way. Rotate toys to keep things fresh. If your dog has a pile of toys but only plays with one or two, it might be time to mix things up. Keep half of the toys hidden and rotate them out every few days. This keeps things new and exciting, even if your pup has seen the toy before.
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The phrase “history is written by the victors” has been around since the French Revolution, and it can make you wonder how truthful far-fetched historical stories actually are. For example, consider the famous WWII story about the USS O’Bannon. This ship notoriously sank a Japanese submarine using potatoes, but let’s take a closer look to separate fact from fiction. In early April 1943, the crew of the USS O’Bannon was returning to the island of Tulagi when they were asked to check out a submarine that had made contact with the surface not far from their location. It was a dark night, but the waters were calm, so it didn’t take long for the crew to spot a Japanese submarine 2,000 yards away. The sub headed right for their ship, and once it was less than 1,000 yards away, the O’Bannon crew knew they were face-to-face with the enemy. What Really Happened Aboard the O’Bannon? THE TATER TALE THAT TORPEDOES THE TRUTH
MARGIE’S KITCHEN Chocolate Sheet Cake
by Darlene Parman
Margie’s Kitchen is dedicated to Margie Trammell, my amazing mother, who embraced cooking as an art and expression of love. Here I share her other recipes in the spirit of gratitude and abundance, to show our appreciation for YOU, our Parman & Easterday Family of Clients & Friends, and in the hope that you may share that love with others. When I was growing up in East Texas, we constantly had family reunions, church socials, and Sunday school class parties, and this dessert was always present. As a kid, and still as an adult, I consider it one of the best desserts in the world! We are blessed that our dear friend and Parman & Easterday client, Elizabeth Wilson, makes this cake for her friends all the time, especially when it’s for Larry Parman’s birthday! I hope you get to celebrate a loved one with this yummy dessert as well!
For the cake • 2 cups sugar Ingredients
The O’Bannon unloaded their artillery at the Japanese sub, causing significant damage. They turned around for a second attack, and then a third attack until the sub sank below the surface. They were victorious, but when did potatoes come into play? It depends on the source you check. Commander MacDonald of the USS O’Bannon never mentions potatoes in the official report of the incident. He’s even gone as far as stating it never happened. However, a book called “Action Tonight” by James David Horan
• 1 tsp baking soda • 1 tsp vanilla For the icing • 1 stick butter (1/2 cup) • 4 tbsp cocoa • 6 tbsp milk • 4 cups sifted powdered sugar • 1 tsp vanilla • 1 cup chopped pecans
• 2 cups sifted flour • 1/2 cup shortening • 1 stick butter (1/2 cup) • 1 cup water • 4 tbsp cocoa • 1/2 cup buttermilk • 2 eggs, beaten
Directions 1. Preheat oven to 400 F. Grease a large sheet pan with sides (15 1/2 x 10 1/2 x 1-inch). Set aside. 2. In a large bowl, sift together the sugar and flour. 3. In a saucepan, bring the shortening, butter, water, and cocoa to a boil. Pour over flour mixture while still hot. 4. In a separate bowl, combine buttermilk, beaten eggs, soda, and vanilla. Pour into flour mixture and gently mix. 5. Pour batter into prepared sheet pan, and bake for 20 minutes. 6. While the cake is baking, make the icing: In a saucepan, bring the butter, cocoa, and milk to a boil. Add sugar, vanilla, and nuts, and mix well. 7. Spread over the cake while still hot. If you want us to share a recipe in Margie’s Kitchen, please email it to Info@ParmanLaw.com. We’ll feature it in our newsletter or on our website!
goes into meticulous detail about the events of that fateful night. Horan states that the crew threw everything they could at the Japanese submarine, including bolts, pieces of artillery, and potatoes. Other publications have repeated this story, noting that potatoes knocked Japanese sailors into the water, leading to the sinking of the submarine. Crew members have also stated that they saw people throwing potatoes. Now, 80 years removed from the event, many O’Bannon crew members have passed away. We’ll never know whether this story is true, but one detail may illuminate the truth. The USS O’Bannon was never closer than 90 yards to the submarine. Unless they had someone with the arm of an NFL- caliber quarterback on board, it’s unlikely that anyone hit the Japanese sub with a potato.
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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
Oklahoma City: 405-843-6100 Tulsa: 918-615-2700 ParmanLaw.com
13913 Quail Pointe Drive, Suite B Oklahoma City, OK 73134
INSIDE THIS ISSUE
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The Future Is Here With AI and Digital Assets
Planning a Meaningful Future Without Dependents Tail-Wagging Tips to Keep Your Dog Mentally Stimulated
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Chocolate Sheet Cake
The USS O’Bannon Potato Incident
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Boost Your Emotional Intelligence With These 3 Empathy Skills
Unlock Stronger Bonds With These 3 Tools THE EMPATHY EFFECT
Emotional Empathy: Feeling With Others This kind of empathy tugs at your heartstrings when someone you love is hurting. Emotional empathy lets you actually feel what another person feels. It’s powerful, but it can also be overwhelming. To strengthen emotional empathy, put distractions away during conversations, make eye contact, and be present. When we give people our full attention, our emotional receptors are activated. If you feel emotionally overloaded, though, it’s okay to take a breather. Boundaries are a healthy part of empathy, too. Compassionate Empathy: Acting on Understanding Compassionate empathy goes beyond understanding and feeling; it’s about doing something helpful. For example, if your
Empathy quite literally holds our relationships together. It helps us connect, understand, and support one another. But did you know empathy isn’t just one thing? It comes in three distinct forms, each playing a unique role in how we relate to others. Cognitive Empathy: Understanding the Mind Cognitive empathy involves mentally stepping into someone else’s shoes to understand their thoughts. For example, if your friend is ranting about a frustrating day at work, cognitive empathy helps you understand and relate. If you want to build this skill, practice active listening. Instead of planning your response while someone’s talking, focus entirely on their words. Then, reflect on what you’ve heard. Phrases like “It sounds like you’re feeling ...” can go a long way.
partner is anxious about an upcoming presentation, you can show compassionate empathy by noticing and offering to run through their slides with them. To show compassionate empathy, ask yourself, “How can I lighten their load right now?” Even small gestures like texting to offer help can build trust and deepen connections. When all three types of empathy are present, relationships thrive. You understand, feel, and act, and while not every situation calls for all three, being aware of each type can make you a better friend, partner, parent, or teammate.
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Thank You For Your Trust In Us! (Round 3) As you know, we are a referral-based practice, so we want to acknowledge and express our deep gratitude to everyone who has referred loved ones and friends to us. It is not something we take for granted or lightly, and we strive to earn your trust every day. We know we would not exist nor have the privilege of being of service but for you, our Valued Client. To acknowledge you, we will list everyone who has referred someone over the last few years here. The list is long, so it will require multiple newsletters to get the job done. And we know we are not perfect, so if you have referred someone and your name does not appear, our sincere apologies for the oversight. So… THANK YOU from the bottom of our hearts for Your trust and confidence in us. ~Your Parman & Easterday Family Rob & Colleen J.; Gerald & Shirley P.; Rob & Linda R.; Darlene S.; Elizabeth J-R.; David & Melanie L.; Frank & Dawn C.; John M.; Jeff H.; Janice A.; Brad & Laurie E.; Norman & Marilyn B.; Elgin S.; David & Carol B.; Mayra I.; Marcia & Clayton H.; Stephen H.; Laci J.; Craig & Verna S.; David & Rebekah M.; Dylan & Kelsey L-H.; Lori C.; Maxine B.; Charlie R.; Adrienne T.; Frederick & Joann M.; Lloyd K.; David & Donna T.; Doye & Mavis B.; William & Elizabeth C.; Drew & Richard G.; Tom & Janice C.; Philip S. & Barbara S.; Nilo F.; Dalene B.; Shirley K.; Richard & Sherron K.; Don R. & Savada M. What The Big Beautiful Bill (OBBBA) Means for Your Financial, Tax, and Estate Plan The newly enacted OBBBA introduces sweeping tax changes with far-reaching implications for estate planning, income taxes, and family financial strategies. Here are a few important Key Highlights . Estate Planning • Gift and Estate Tax: Now everyone has a $15 million exemption. You can use the exemption during your lifetime if you make gifts exceeding the annual gift exclusion. Whatever you have left at your death is applied to your estate tax liability. Even though the
new exemption is now “permanent” and indexed for inflation, future political shifts could reverse this. • No changes to annual gifting limits, already indexed for inflation. Currently, $19,000 in 2025. • The generous exemption may lull some into complacency, but the bill’s unpredictability and the potential for future tax hikes make it essential to review and update your estate plan now. Planning Tools • New options like Trump Accounts, enhanced 529 Plans, ABLE Accounts, and Irrevocable Trusts offer strategic opportunities for families and those with special needs. Income Tax Complexity • Temporary Provisions: Many deductions and credits (e.g., for tip income, overtime, car loan interest) are only available from 2025 to 2028. • Inconsistent Phase-Outs: Different benefits phase out at different income levels, complicating planning. • Complex Deduction Formulas: Itemized deductions are reduced using obscure formulas tied to income brackets. Even more people will likely use the standard deduction. • Social Security & Tip Income: Tip income and overtime pay receive favorable treatment, while Social Security income remains taxable for many. Education & Family Support • Enhancements to 529 plans call for a significant expansion of 529 plan benefits and include a brand- new Kids' Savings Program called the MAGA account, withdrawal limit increases, and the expansion of qualified expenses. • 529 Plans: Expanded limits to cover elementary and secondary education from $10,000 per year to $20,000 per year. • Covers post-secondary credentialing and now allows rollovers to ABLE accounts. • Pell Grants: Adjusted eligibility and expanded use for vocational and credentialing programs (details vary by income and institution). • Trump MAGA Accounts: New savings vehicles for children under 18, with tax-free distributions for qualified expenses like education, first homes, and small business investments. Business & Investment Incentives • Sec. 179 Expensing: Made permanent, allowing full expensing of up to $2.5 million in business property annually.
FREE Book for Your Loved Ones & Friends! Do you have loved ones or friends who may benefit from discovering how estate planning can provide them the same Peace of Mind you enjoy? If so, show them how much you care by gifting them a FREE copy of Larry Parman’s best- selling book, The Straight Shooter’s Guide to Estate
• Bonus Depreciation: 100% first-year depreciation for qualifying assets acquired after January 19, 2025. • QBI Deduction: The 20% Qualified Business Income deduction remains, with higher income thresholds for phase-outs, though professionals (e.g., lawyers, doctors) are still excluded. • Capital Gains Indexing: Gains are now indexed to inflation, reducing taxable amounts on long-held assets. SALT Deduction • Temporarily increased to $40,000 (indexed for inflation) on state and local tax, but reverts to $10,000 in 2030. • High-income earners face phase-outs, and entity structuring (e.g., PTET) remains relevant for maximizing deductions. Charitable Giving • Non-Itemizers: Can deduct up to $1,000 (single) or $2,000 (married filing jointly). • Itemizers: Face a 0.5% AGI reduction in allowable charitable deductions. • Strategic giving through donor-advised funds or charitable trusts may help offset limitations. Bottom Line Schedule a consultation today to ensure your estate plan is aligned with the new law and your long-term goals. Protect your legacy—before the window of opportunity closes. Reminder: We Can Help with Probate Our Crusade is to help all families avoid the ravages and perils of probate. However, very sadly and unfortunately, statistics show over 50% of Oklahomans (and Americans in general) do not have a Trust set up. As a result, when they pass, they often leave a complete mess behind for their loved ones to deal with. Knowing this to be the case, we wanted to remind you that we specialize in making Probate as easy and painless as possible. If you have brothers, sisters, parents, aunts, uncles, or any other family member who did not do a Trust and now you are stuck dealing with a Probate, call us at 405-843-6100 to see how we may best help you. Or if you know someone dealing with Probate, have them call us as well.
Planning: A No-Nonsense, Straight Forward, Easy-to- Read Book Explaining Wills, Trusts, & Estate Plans for the Rest of Us . This book will help them understand the basics of Estate Planning and discover how it can benefit their personal and/or family’s security, quality-of-life, and well-being. To have this free Gift shipped to them lickety-split, call us at 405-843-6100 or have them call us at the same number. Or email us at info@parmanlaw.com. Upcoming Education Events: For those interested in learning how estate planning can benefit your family and as a refresher for Clients… Wills, Trusts, and Estate Planning Made Easy and Painless: Learn How to Protect Your Loved Ones, Hard-Earned Money, Belongings & More Tuesday, November 11, 2025 2 – 4 PM or 6 – 8 PM Fairfield Inn & Suites 1520 Garth Brooks Blvd; Yukon, OK 73099 Tuesday, December 9, 2025 2 – 4 PM or 6 – 8 PM Embassy Suites 2501 Conference Drive; Norman, OK 73069 RSVP at 405-286-9009 (24-hr hotline) or www.okcprogram.com
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