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JULY 2023
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My Grandma Dahl Is Turning 100! We’re Off to Colorado to Celebrate
Can you imagine what it would feel like to live to 100 years old? I certainly can’t — but in a few weeks, my Grandma Ellen Dahl will find out! She turns 100 on July 10, and I can’t wait to celebrate with her. Doing the math makes Grandma Ellen’s achievement even more impressive: She was born all the way back in 1923. It’s overwhelming to think about how many changes she’s seen during her long life. She was around before color television, the first computer, and the internet — let alone cellphones, Facebook, and Twitter. I’m not totally surprised that Grandma Ellen reached this milestone. Her mother lived to 109, and my grandma has always been a hustler and a survivor! She trained as a nurse, ran a successful
beloved Packers. She lives in Utah with my aunt, and the two of them still travel together. In a few weeks, they’ll head to Colorado for a birthday celebration with our whole family. We rented a house in the town of Fraser, and we’ll spend a long weekend there hiking, playing games, and spending quality time together. The space will be tight: Lucero, Quentin, and I will squeeze in with my parents, my two siblings, their spouses, and their kids! I can’t wait to see my cousins, but I’m even more excited to watch Grandma Ellen meet Quentin for the first time. I know her face will light up with a huge smile when she holds her great- grandson. Considering how much she has influenced my life,
I hope that if I make it to 100, I share Grandma Ellen’s attitude and her feeling of fulfillment. It amazes me that she has no regrets (I have a few, and I’m far younger than she is!), but it makes sense when I consider what a wonderful person she became. She had a great husband, and they raised kind and accomplished children, grandchildren, and great-grandchildren. She’s seen the whole circle of life play out in her family.
“Grandma has the shaky hands and diminished strength you’d expect from a 100-year-old, but she’s
as mentally sharp and independent as ever.”
floral business with my grandpa, served on two different boards in her community for decades, and even beat a rare form of leukemia. Grandma has the shaky hands and diminished strength you’d expect from a 100-year-old, but she’s as mentally sharp and independent as ever. She’s just as likely as a 50-year-old to crack a joke, give wise advice, and cheer on her
I’m glad Quentin will get to know her, too.
Lucero and I talk to Grandma Ellen
Grandma Ellen taught me the value of working hard, pursuing your passions, standing up for yourself, and helping others — and she still calls me and Lucero every week to tell us that she loves us. If I can pass on her lessons, help my community through my firm, and show that much love to my family, I think I’ll be just as proud as she is in my old age.
regularly, and a few weeks ago, we asked her how she felt about turning 100. She’s a straight shooter, and she told us that she’s very proud of her accomplishments over the last 10 decades — and she doesn’t regret a thing.
–Tyler Q. Dahl
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You’re more likely to live to 100 if you were born in a “Blue Zone.” We have yet to discover the fountain of youth, but demographer Michel Poulain and Dr. Gianni Pes found something close: five places where people regularly live to 100 years old. Those five spots are Okinawa, Japan; Sardinia, Italy; Nicoya, Costa Rica; Ikaria, Greece; and Loma Linda, California. Why are those locations home to so many happy, healthy centenarians? Well, people living in Blue Zones tend to share the same nine habits — which matters because, as Poulain puts it, “Only about 20% of how long you live is dictated by your genes, the other 80% is dictated by your lifestyle.” Some of those habits are predictable, like eating a largely plant-based diet and using a routine like napping or prayer to release stress. But others are surprising! For example, can you believe that “putting your family first” and drinking one or two glasses of wine daily are linked to living longer? If you’d like to live to 100 like Tyler’s Grandma Ellen, you may want to add a few of these habits to your life. Read about all nine in Dan Buettner’s book, “The Blue Zones: 9 Lessons for Living Longer From the People Who’ve Lived the Longest.” Did You Know?
Want to Shield Your Assets From Creditors?
This Trust Will Do the Job
Do you have creditors chomping at the bit to get a piece of your hard work? If so, you should consider protecting your money and assets by moving them into trusts. This method of estate planning gives you more control than a simple will, but it begs a question: Is a revocable or irrevocable trust best for your situation? Both revocable and irrevocable trusts protect your estate from the probate process. They also allow you to set up guidelines that must be met before your children or loved ones can inherit assets — protecting what you worked hard to build from immature children who need to learn management skills. The biggest difference between these two trust types is that the terms of a revocable trust can be changed by the trust creator, while the terms of an irrevocable trust cannot be changed (without court approval, and even then, it is limited). Another big difference is the flexibility (or lack thereof) to transfer assets to and take assets out over time. In a revocable trust (often referred to as a living trust), you are permitted to transfer assets in and out of the trust as you please. In an irrevocable trust, you are typically not able to take assets out once they have been placed into the trust (unless you get approval from the trustee or the courts), but depending on the type of irrevocable trust you choose, you may still be able to use and benefit from the assets. Finally, and perhaps most importantly, revocable trusts do NOT allow you to exclude assets from your taxable estate or from creditors who pursue your hard-earned money and assets. Irrevocable trusts, however, will almost always allow you to exclude certain assets from your taxable estate and from creditors looking to make claims against you. In short, irrevocable trusts protect you from creditors and taxes because you are no longer in full control of those assets and never will be. If you need to safeguard your property from greedy creditors, an irrevocable trust may be a smart choice for you.
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help them solve their tax, business, or estate planning problems before they get worse.
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Save Your Wallet From Capital Gains Taxes Take Advantage of a 1031 Exchange Through Your LLC!
• MULTI-MEMBER LLCS & PARTNERSHIPS — If one partner of a partnership or an individual member of a multi-member LLC wants to implement a 1031 Exchange for a piece of personal property, they cannot do so. Each member of the partnership needs to have an interest in the piece of property and commit to selling off their interests as a group in order to acquire a like-kind asset together. The same can be said for partners who wish to sell their interest in the partnership in order to acquire a similar interest in another partnership. This would not qualify as a like-kind exchange. However, an entire partnership can do a 1031 Exchange if each member sells or relinquishes their interest in the partnership and, as a group, purchases a like- kind entity, keeping the entire partnership intact. Whether you are an individual, operate a single-member LLC, or are part of a partnership, it’s important to work with a law firm that has experience executing 1031 Exchanges. Contact our team for assistance, and we’ll help you avoid unnecessary taxes that slow down progress and put you in a financial bind.
Many property owners know that a 1031 Exchange (or like-kind exchange) is a great way to dodge heavy capital gains taxes. This method allows you to sell one property and then, in turn, acquire another to serve the same purpose — all while avoiding recognition of the gain or loss on the price of the original property. But did you know that in some cases, Limited Liability Companies (LLCs) can also take advantage of 1031 Exchanges? If your company owns real estate, you may be able to leverage a 1031 Exchange to avoid capital gains taxes. This ability varies across LLC types. • SINGLE-MEMBER LLCS AND LLCS CONTROLLED BY MARRIED COUPLES — Single-member LLCs have the capability and permission to execute 1031 Exchanges. The same can be said for LLCs owned solely in the name of married couples as long as the couple lives in a community property state (California included), although this depends on how the LLC is taxed. These LLCs will have no issue executing the exchange as long as it is conducted according to Section 1031 of the Internal Revenue Code.
Grilled Steak Salad With Peaches
GET A HEAD START ON YOUR LEGACY INTERVIEW! Scan this QR code to request a FREE copy of our Legacy Interview questions. With them in hand, you
Inspired by Delish.com
Ingredients • 1 lb skirt steak, fat trimmed • 1/4 cup balsamic vinegar • 1 clove garlic, minced • 1 tbsp light brown sugar • 1 tbsp vegetable oil • Kosher salt • Black pepper
• 1/4 cup extra-virgin olive oil • 1 large lemon, juiced • 6 cups baby arugula • 2 ripe peaches, thinly sliced • 1/3 cup crumbled blue cheese or feta
can create a precious gift for your children, grandchildren, and other loved ones that will preserve your memory for decades to come.
“It takes wealth to buy your desires, but it takes wealth management to keep up the abundance.”
Directions 1. In a large resealable plastic bag or baking dish, combine steak, vinegar, garlic, and brown sugar. Marinate 20 minutes at room temperature. 2. Remove steak from marinade, coat with vegetable oil, and season generously with salt and pepper. 3. On a grill or pan set to high heat, cook steak until desired doneness. Rest 5–10 minutes, then thinly slice against the grain. 4. In a small bowl, whisk olive oil and lemon juice to make dressing. Season with salt and pepper. 5. In a large serving bowl, add arugula, peaches, blue cheese or feta, and steak. Drizzle with dressing and gently toss.
–Sujit Lalwani
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INSIDE What’s
2. 1. Tyler’s Grandma Is Turning 100! 5 Places Where People Live Longer
Protect Your Assets From Greedy Creditors
3.
A Tip for Avoiding Capital Gains Taxes
Grilled Steak Salad With Peaches
4.
How to Stargaze Like a Pro
A Night to Remember Create the Perfect Stargazing Experience
BRING ESSENTIAL SUPPLIES. Don’t ruin the perfect evening by being unprepared! After so much planning, the last thing you want is to be run off by a chilly breeze or some pesky mosquitoes. The summer night in an open space may be cooler than expected, so bring a sweater or jacket. Ensure your clothing and seating are comfortable, and don’t forget bug spray. It’s also wise to pack some snacks and plenty of water. Further, you can step up your game by bringing binoculars or a star map. But remember to take all your goodies home with you. Leave nothing behind so the next amateur astrologists can enjoy their experience as much as you did.
Many children are fascinated by the mystery and beauty of outer space, but most tend to lose their reverence as they get older. That doesn’t have to be the case! A night of stargazing is the perfect way to spend a romantic evening or have a fun time with your family. But creating the ideal experience isn’t always as simple as stepping outside and looking up. Here are some tips to make the most of an astrological adventure. PICK THE RIGHT NIGHT. All nighttime skies are not created equal. Would-be stargazers must consider the weather and cloud cover. Further, the light from the moon tends to wash out the dimmer sparkle of distant stars, and
it’s best to go during or immediately before or after a new moon phase. It can all be complicated, so make it easier with a stargazing forecasting site like GoodToStargaze.com . It will provide all the technical details and a simple “yes” or “no” verdict about the evening’s stargazing suitability. FIND THE IDEAL SPOT. Those who live in rural areas without much light pollution won’t have to go far to see the stars, but everyone else should do a little planning. Scope out a location away from city lights that has an unobstructed view of the sky, and make sure it’s legal for you to go there. You’ll also need a place to set up blankets or chairs for a comfortable and relaxed experience.
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