Check out our August newsletter!
You Can’t Take It With You
www.planningyourlegacy.com 803-746-7000
August 2023
Choose Forgiveness
not lead to emotional healing (let alone reconciliation). And few are strong and vulnerable enough to even try. It’s much easier to remain resentful and vindictive. You’ll Be Happy You Did
But choosing to forgive means you can breathe a sigh of relief.
According to Dr. Karen Swartz at Johns Hopkins, withholding forgiveness is a huge mental and physical burden. And the older you are, the worse it gets. Forgiving means less pain, stress, anxiety, and depression, lower blood pressure, better cholesterol levels, and reduced risk of heart attack. Forgiving also allows you to think more clearly about reconciling and restoring the relationship … or not. You don’t have to give someone another chance. Forgiveness has to do with the past. Trust has to do with the future. Don’t rush things. If you want reconciliation, however, you’ll first need to forgive. We say we want justice, yet God chose to forgive. It wasn’t cheap, easy, or fair. Even for him. It cost him his only son. Who, by the way, didn’t wait until he got an apology before forgiving his killers. As a kid, when I complained life wasn’t fair, my grandma always said, “There ain’t no justice in this man’s land. I got a divorce from my old man. The judge came back with his decision. Gave the kids to him ... and they wasn’t his’n.” A priceless anecdote and priceless wisdom. We all need justice and mercy. To forgive and to be forgiven. We all hurt the ones we love. We all find it hard to say, “I’m sorry.” Each year I see families torn apart and think, “There, but for the grace
You’ve been wronged. Hurt deeply by someone you love. You want reconciliation. At least, you did. Now, you want them to pay! And you deserve justice. It’s not fair to ask you to forgive someone who isn’t even sorry for what they did.
Yet, that’s exactly what I’m going to do.
I understand. They don’t deserve forgiveness. Nevertheless, over the past 20 years, I’ve seen countless relationships restored. Trust rebuilt. Parents reunited with estranged children. Marriages transformed. Sometimes years after all hope was lost. None of which could have happened without forgiveness. Even when there’s no remorse, repentance, or reconciliation, forgiving frees you. There’s a story about two former POWs talking about their captors. One says, “I’ll never forgive them.” And the other says, “Then they still have you imprisoned, don’t they?”
That’s why you should choose to forgive. Even if the offender never apologizes.
of God, go I.” The line between good and evil doesn’t run between you and “them.” It runs through the heart of us all. Do you really want what you deserve ? I want mercy.
It’s not about their actions. It’s about your attitude. Forgiveness isn’t forgetting. You’re not letting them off the hook. You can still hold them accountable. You should. By forgiving, you’re not condoning what they did or giving them permission to do it again. You’re merely recusing yourself from the administration of justice. You’re stepping down as judge, jury, and executioner. Forgiving is foregoing the right to take revenge. It’s giving back the role of administering justice to God, versus taking the law into your own hands. Withholding forgiveness, on the other hand, says you don’t trust God to do the right thing. I know what you’re thinking and you’re right. Choosing to forgive is easier said than done. It’s almost never quick or easy. It may or may
“If you forgive others, God will forgive you.” Matthew 6:14
www.planningyourlegacy.com | 1
Published by Newsletter Pro • www.newsletterpro.com
THE GO-TO GUIDE TO GIFT TAX
How Much Can You Give Tax-Free?
instances aren’t impacted by the gift tax. Some tax-free offerings include:
married, your spouse can match your gift, and as a couple, you can give up to $34,000 per individual tax-free. If a gift exceeds this amount in any one year, you must pay a tax. How do you gift strategically? Although gift taxes seem burdensome, they can benefit those who properly plan. People with a significant estate will often schedule gifts each year to minimize their estate and, as a result, reduce the estate tax that would need to be paid upon their death. This strategy is an excellent way to save money for a family in the long run. This guide to gift taxes is simply an introduction. Be sure to speak with a tax professional or financial advisor when determining your gift tax responsibilities. You may also be able to learn a few new strategies that can protect your estate!
If you’re giving a substantial amount of money or property to someone, you’ll likely have to pay a gift tax. The IRS applies this federal tax on any individual who transfers assets to someone else without anything significant in return. You don’t need to worry about gift taxes if you’re just giving your child a small allowance, but when transferring thousands or millions of dollars, you will likely have to hand over a chunk to the IRS.
• Educational expenses • Medical expenses • Gifts to a spouse • Gifts or donations to political organizations or charities
Be sure to speak with your financial advisor or a tax professional on whether your gift requires a tax. You always want to err on the side of caution.
What does and doesn’t require a gift tax? Gifts include property, bank account transfers, cash, stocks, vehicles, art, lenient loans, and more. Sounds like everything, right? Well, a few
How much can you give? As of 2023, you can give up to $17,000 per
individual annually free of tax, meaning you aren’t limited to gifting just one person before you’re hit with a gift tax. If you’re
WHAT IS ETHICAL INVESTING? Use Your Values to Make Financial Decisions
• Climate change • Waste management • Gender and racial discrimination • Employee safety • Accounting practices However, ethical investing follows a more comprehensive approach and considers ethical matters that may not be discovered when assessing a company’s ESG standards. Some ethical concerns may include:
Do you want to start investing but are wary of funding large corporations with questionable ethics? Ethical investing is when people make investment decisions that align with their morals. When investing ethically, you support sustainable companies committed to widespread positive social change. Of course, “ethical” is subjective and means various things to different people. Ethical investors often research companies before investing to discover how the business impacts the world around them. These can concern human rights, environmental sustainability, and more. What is the difference between ethical and ESG investing? Ethical investing is similar to ESG investing, which evaluates a company’s environmental, social, and governance (ESG) standards. The difference? Ethical investing takes it a few steps further. For example, ESG investing looks at issues that can include:
Stanley Institute for Sustainable Investing found the return on investments focused on ethical choices was not noticeably different from traditional investments. It doesn’t hurt to care! Ethical investors actively work to support moral values in businesses and encourage sustainable practices. As more and more investors choose to support these companies, other businesses are pressured to clean up their acts and work harder to make a difference. Our ethical values, applied to investment choices, can make a huge impact! No one needs to throw away their values to start investing.
• Fossil fuel usage • Weapons production • Human rights • Child labor violations
It’s entirely up to the investor to decide which causes they want to invest in or eliminate from their investment portfolio through the companies they research and choose. Do ethical investments have high returns? While not all investments can guarantee a high return, one 2019 study by Morgan
2 | 803-746-7000
Published by Newsletter Pro • www.newsletterpro.com
ART THIEVES MADE HER FAMOUS A Little-Known Painting Caused Worldwide Frenzy On Aug. 21, 1911, Vincenzo Peruggia made history and immortalized a once unnoticed painting. Leonardo Da Vinci’s “Mona Lisa” was stolen long before the iconic painting was heavily secured as it is now. Peruggia and two other Italian handymen stole the now-infamous portrait from the Louvre. What ensued is one of the most internationally followed thefts of modern times.
GRILLED HALIBUT WITH ROASTED RED PEPPER SAUCE
Inspired by FoodAndWine.com
Ingredients
• 1 tsp kosher salt • 1/4 tsp black pepper • 1/2 cup olive oil • 4 6-oz skin-on halibut fillets
• 1 16-oz jar roasted red bell peppers, drained • 5 garlic cloves • 1 tbsp sherry vinegar • 2 tsp honey
Historian James Zug shared with National
Public Radio the odd nature of Peruggia’s choice of art, as “the ‘Mona Lisa’ wasn’t even the most
Directions 1. In a food processor or blender, mix bell peppers, garlic, vinegar, honey, salt, and black pepper until smooth. Transfer sauce to a bowl; whisk in oil. 2. Into a large plastic zipper bag, pour 1 cup of sauce; add halibut fillets and seal bag; turn to coat fillets. Let marinate in refrigerator for 20 minutes. Reserve remaining sauce for serving. 3. Preheat a grill to medium-high (400–450 F). Remove halibut from marinade; scrape off excess. 4. On oiled grill grates, arrange fillets and grill, covered, until fish flakes easily, 4–5 minutes per side. 5. Transfer fillets to serving plates or a large platter. Drizzle with reserved sauce. Serve alongside preferred veggies and crusty bread.
famous painting in its gallery, let alone in the Louvre.” The painting was so inconspicuous that it took a whole 28 hours before anyone realized it was missing.
Headlines ran worldwide of the mysterious theft and even pointed suspicion at the famous American art lover and tycoon J.P. Morgan and renowned artist Pablo Picasso! Tensions were building in Europe as World War I was imminent, and that soon led to suspicions of German interference. The Louvre was shut down for nearly a week amid the frenzy but soon reopened with an empty space where the “Mona Lisa” once hung, bringing in countless spectators. It actually took an entire 28 months before the painting was finally returned. When Peruggia and his crew could not sell the picture due to the sheer magnitude of the investigation, they tried one last-ditch effort over a year later to sell it, only for them to be reported and finally arrested. His sentence? Eight months in prison! After his capture, the art thief changed his story from looking to sell the painting to wanting to return the “Mona Lisa” to her country of origin as a symbol of national pride. Noah Charney, a professor of art history and author, explained that the theft made the “Mona Lisa” famous. “There was nothing that really distinguished it per se, other than it was a very good work by a very famous artist — that’s until it was stolen,” Charney detailed. “If a different one of Leonardo’s works had been stolen, then that would have been the most famous work in the world — not the ‘Mona Lisa.’”
TAKE A BREAK
Backpack Books Daffodil Festival Friends Harvest Learning Meteor Produce Smores Sunscreen Yardwork
www.planningyourlegacy.com | 3
Published by Newsletter Pro • www.newsletterpro.com
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
803-746-7000 www.planningyourlegacy.com 1771 N HWY 321 Ste. 100 BOWLING GREEN SC 29703
INSIDE THIS ISSUE
The Healing Power of Forgiveness
1 2
There’s a Tax on Gifts?
Ethical Investing Explained
Grilled Halibut With Roasted Red Pepper Sauce
3
How Did ‘Mona Lisa’ Become Famous?
The Endless Fight for Jimi Hendrix’s Estate
4
Jimi Hendrix Left a Legacy Without a Will THE HENDRIX FAMILY FEUD
Meanwhile, Jimi’s brother Leon continuously argued he should inherit his brother’s estate since he was closest to him. He tried to reason that if Jimi had made a will, he would be named the inheritor. The argument didn’t hold up in court. Then, sadly, Al passed away in 2002. In Al’s will, he didn’t give Leon control of Experience Hendrix LLC — he gave it to his daughter Janie Hendrix, Jimi’s stepsister. Again, Leon tried to persuade the court he should have control of the late musician’s estate. But Janie’s name was on Al’s will, and Leon was noted to have been removed since he struggled with drug abuse. Now, Janie continues to successfully run the family business and keep the legacy of Jimi Hendrix strong.
We often hear about celebrities’ haphazard wills (like Ike Turner and Aretha Franklin), but what happens when a celebrity passes without one? This legal catastrophe occurred when legendary guitarist Jimi Hendrix passed away at 27. The result was a long legal battle, explosive family division, and ongoing lawsuits. Jimi Hendrix, known for classic hits such as “All Along the Watchtower” and “Voodoo Child,” died abruptly, leaving his massive estate without a designated beneficiary. Without a will, the court must follow the laws of intestacy, and as Jimi had no wife or children, his estate would go to his parent, Al Hendrix. However, in 1990, Al sued Jimi’s lawyer for mishandling his son’s music rights. After winning the case, he created Experience Hendrix LLC, a family-owned organization that controls the legacy of the guitar aficionado.
Noel Redding and drummer John Graham “Mitch” Mitchell sued the Hendrix estate, claiming they deserved a portion of the profits, but Experience Hendrix LLC sued them for the invalid claims, and their battle is still ongoing. Let this chaos be a warning that you shouldn’t wait to create your will!
However, the legal mayhem isn’t over yet. In 2022, the families of bassist David
4 | 803-746-7000
Published by Newsletter Pro • www.newsletterpro.com
Page 1 Page 2 Page 3 Page 4Made with FlippingBook Ebook Creator