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Trust Matters MARCH 2022
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Would You Do a 200-Year Trust?
Let’s Stretch Your Contribution
Benjamin Franklin died on April 17, 1790, but in addition to his contributions to electricity, public service, and printing, Franklin made a peculiar donation to Philadelphia and Boston — a donation you can still see the impact of today. Franklin bequeathed 1,000 pounds sterling to both Philadelphia and Boston, which were cities he lived in throughout his lifetime. In his will, Franklin required the cities utilize the money as loans for “young tradesmen” in apprenticeship stages of their careers for 100 years. After 100 years, the cities were allowed to utilize 75% of the principle for public works. After another 100 years, the remaining 25% could be utilized in any way the cities saw fit. As you might expect, Franklin’s investment grew into a pretty comfortable nest egg for Boston and Philadelphia. After 200 years, Philadelphia’s share was worth $2 million dollars, while Boston was left with $4.5 million. Franklin’s gift would go on to fund tradesmen, medical students’ education — after the restrictions surrounding tradesmen loans were loosened — a museum in his honor, and the creation of the Benjamin Franklin Institute of Technology.
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• Controller • Paralegal
• New Client Coordinator
Do you know someone who would be perfect for our firm and these roles? Is that someone you? Learn more about our openings and other career opportunities at TakeTheJobChallenge.com.
giving them an incredible gift. But your family will still benefit from a partial inheritance, even if you’re not a multimillionaire. Think about it. Will your family really miss $2,000? Chances are they won’t even notice it’s missing, nor will that make the gifts they do receive any less significant.
I’d like to know who is interested in helping their communities through the 200-year trust. I’m thinking about offering this option, but I need to know if there is enough interest! Please email me today at Francisco@KeystoneLawFirm.com if you are interested in creating a Benjamin Franklin-sized impact on our world.
Imagine having that big of an impact with just $1,000.
We’d like to see that happen more often. My team and I are toying with the idea of creating a 200-year trust, wherein, inspired by Franklin, we help clients establish a trust with $2,000 and let it grow for 200 years. After that time, the money will be released to a client’s nonprofit of their choosing. So, let’s say that $2,000 grew by 6% annually. That means the benefactors who receive that donation 200 years from now will receive hundreds of millions of dollars. That’s an incredible impact! And how cool would it be if throughout, say, the next 20 years of our law firm, we were able to help 50 people establish these trusts with just $2,000. About 200 years from now — and then some — organizations across the country and globe could see a tremendous boost in their resources. We could donate billions of dollars, just from our firm’s 200-year trust. That impact alone is a powerful thing, but when you create a trust like this, it can offer peace of mind for yourself today knowing that centuries from now you will still make a great impact on this world. When you bequeath all of your assets to your children, you are
-Francisco
P.S. There are some tax changes you need to understand.
I know — you just finished your 2021 taxes, but it’s never too early to plan, especially if you want to keep more of your wealth out of Uncle Sam’s pockets. For starters, charitable donations changed for the 2022 tax year. In 2022, you can now give $16,000 to any one person or organization and pay $0 in gift taxes. Furthermore, the estate tax exclusion amount is $12,060,000 per person. If these changes prompt any questions about your estate plan, please contact our team.
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Spring Fever Enjoy Warm Weather While Stuck Indoors
Try working outside. If your boss will allow it, there’s probably some opportunity to do a bit of work outdoors. Meetings and conference calls might offer your best option. For in-person meetings, your coworkers will also likely relish a chance to take it outdoors. In the event of a conference call, you won’t need to convince anyone else — grab your laptop and go! It’s not the same as enjoying the weather while you’re off the clock, but it’s a lot better than being cooped up inside.
The weather is warming up, the sun is out — and you’re trapped inside. Most of us have jobs that leave us stuck indoors during spring’s prime midday hours, and it’s easy to feel like you’re missing out on the season’s best parts. Unfortunately, your boss probably won’t give you the day off just because of the gorgeous weather. So, we’ve compiled the next best thing — some tips to enjoy the season as much as you can while also getting your job done. Bring the outdoors in. When the weather is nice, open as many curtains and blinds as possible. The natural light will warm up the room and brighten your mood. While you’re at it, try opening the windows and positioning yourself near one. If you can’t be outside, the spring breeze on your face is the next best thing. Plants decrease stress, and having them on your desk might also trick your brain into feeling less cooped up. Take a break. You’ve still got to work, but that doesn’t mean you can’t sneak in a few minutes outdoors. Use your break for an outdoor stroll; if possible, you can also walk or bike to work. At the very least, park farther away to give yourself time to enjoy the weather. Volunteer to do a coffee run, pick up lunch, or take out the mail — you’ll be an office hero while catching some rays at the same time.
With any luck, these tips will help you make it to Friday with your sanity intact. And luckily, the weekend is always just around the corner.
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hearings, or a trial without representation — and if you cannot afford to hire an attorney, the court will provide you with a public defender. Ironically, to invoke your right to remain silent, you have to talk — simply not speaking isn’t considered sufficient. A person needs to say as clearly as possible that they are invoking their rights and want an attorney.
Though film and TV scripts tend to use uniform wording, there’s no required Miranda rights phrasing. Police only need to state the rights and ensure the suspect understands them. It’s also notable that police only have to read Miranda rights when they arrest a suspect — and they can question someone without
detaining them. Courts consider anything the suspect says when not under arrest to be of their own free will.
Many people waive their rights because they know they’re not guilty — or they think that speaking with the police will make them look innocent. Criminal defense attorneys strongly advise against this. Body language, off-handed statements, or inconsistent recounting of events can be used as evidence of guilt. And sadly, many innocent people have been sentenced to time in prison.
If you’re ever arrested or questioned in connection with a crime, the best way to protect your rights is to invoke them right away. Hire an experienced criminal defense attorney or ask the court to appoint one for you. The lawyer will review your case, help you understand the charges, and provide expert guidance on your next steps. Don’t feel bad about doing so — these rights are enshrined in the Constitution. They’re just that important.
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TAKE A BREAK
Why One Man Sued Michael Jordan for $832 Million I DON’T WANT TO BE LIKE MIKE
Many people have been told they
have a passing resemblance to a celebrity, and they usually have a funny story or two. To Allen Ray Heckard, his celebrity look- alike was no laughing matter. In 2006, he sued Michael
Jordan for looking too much like him and ruining his life.
The amount of the lawsuit was $832 million, and Heckard not only sued Jordan but also Nike, reasoning that the company helped Jordan achieve his incredible fame. The complaint argued that the resemblance to Jordan “has troubled
Heckard’s nerves” and being stopped by fans caused him emotional distress for over 15 years. He requested damages for defamation, permanent injury, and pain and suffering. For someone tired of being “recognized,” Heckard didn’t shy away from media coverage. When asked how he arrived at the astronomical $832 million lawsuit figure, he gave this much- shared (yet difficult to parse) answer: “Well, you figure with my age, and you multiply that by seven and, ah, then I turn around and, ah, I figure that’s what it all boils down to.” When asked why he felt the resemblance to Jordan had affected his life so negatively, he could only answer, “I want to be recognized as me, just like Michael’s recognized as Michael.” Funnily enough, most people didn’t think Heckard and Jordan looked alike at all. While each had a bald head, mustache, and a gold earring, the similarities seemed to end there. Many news stories noted that, compared to Jordan, Heckard is eight years older and 6 inches shorter. One question reporters did not appear to ask was why Heckard felt that Jordan should be held personally liable for hundreds of millions of dollars simply for his natural appearance. Sadly, we will probably never know the answer because the case ended rather unceremoniously. After a few weeks, Heckard dropped the lawsuit. He never publicly shared why, but a Nike spokesperson was glad to speculate that Heckard “finally realized he would end up paying our court costs if the lawsuit went to trial.” In the end, many ‘90s kids would argue that Heckard was most guilty of looking a gift horse in the mouth. After all, there is no higher achievement than to “be like Mike.”
EASY MARCH MADNESS CHILI
Cheer on your favorite team and chow down in minutes with this easy chili recipe!
Ingredients
• 2 lbs ground beef • 2 tbsp chili powder • 1 tbsp Creole seasoning • 1 tsp ground cumin
• 2 16-oz cans diced tomatoes • 2 16-oz cans small red beans • 2 8-oz cans tomato sauce
Directions
1. In a deep pot, brown the beef, stirring often. 2. Once beef is cooked, add chili powder, Creole seasoning, and cumin, cooking for 1 minute. 3. Stir in diced tomatoes, beans, and tomato sauce and bring the mixture to a boil. 4. After the mixture boils, reduce the heat to low and let chili simmer for 15 minutes. 5. Serve with toppings of choice, like cheese, sour cream, or chives.
Inspired by MyRecipes.com
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INSIDE THIS ISSUE
Create a Legacy Like Benjamin Franklin
1
Enjoy Spring Weather — Even From Work
2
Easy March Madness Chili Someone Sued Michael Jordan?
3
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What Do Your Miranda Rights Mean?
You Have the Right to … What Now? Understanding and Using Your Miranda Rights
If you watch a lot of procedural dramas on television, you can probably recite your Miranda rights by heart:
But why are these words so ubiquitous? What do they mean in the real world? And do you really need to worry about your rights if you haven’t committed a crime? Miranda rights originated in 1966 through the Supreme Court case Miranda v. Arizona . Police arrested Ernesto Miranda on kidnapping charges, and after two hours of questioning, he eventually confessed to the crime. His attorneys argued that Miranda did not understand his rights at the time of the confession, so the courts should disregard it as evidence of his guilt. The Supreme Court agreed, saying that one cannot sign away their rights without first understanding them. The right to remain silent originates from the Fifth Amendment right to not self-incriminate. In this context, “staying silent” means not answering questions from the police. Though experts recommend silence from the beginning, a person can invoke their rights partway through an interrogation. The right to an attorney means you do not have to go through questioning,
You have the right to remain silent. Anything you say can and will be used against you in a court of law. You have the right to an attorney. If you cannot afford an attorney, one will be provided for you.
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