Family Focus - Part 1

As I type this post, we are entering the Christmas season.  It seems that this season continues to creep into our calendars earlier and earlier, but I think December is historically when the countdown truly begins.  While we are all seeking out the perfect gifts for our friends and family, I wanted to take some time to explore some of the somewhat intangible things we could be doing to take care of our families.

All families are composed differently, but for the purposes of this blog, let's meet our example family:



Bill, the patriarch of the family, owns a construction company and is married to Susie.  Susie is a stay-at-home mom and is overworked and underpaid taking care of their daughter, Annie, and son, Little Billy, full time.  Bill and Susie are in their late 20s, and Annie and Little Billy are not yet school age.

Bill and Susie have worked hard their whole lives, and have been able to accumulate a few assets. Bill owns their home, but he has very little equity at this point.  Bill has a small retirement account and attempts to save around $5,000 a year after all the family's expenses are paid.  Susie inherited a small cabin in another state that the family visits a couple times a year.  In addition to the mortgage, Bill still has student loans that it seems he will be paying for the rest of his adult life.  They have one car loan and pay off their credit card bill every month.  Annie and Little Billy are both very energetic, happy, and healthy children.

As Bill and Susie are calmly and rationally discussing their finances one evening, they begin to wonder how they could take care of their children if something were to happen to one or both of them.  Although they are not sure what they can do to plan for this scenario, they make the commitment to meet with a local attorney to discuss their options.  Next we will explore what they learn.  PART 2

 

Determination and Work Ethic

I read an article a few days ago that I have not been able to stop thinking about.  The article was about a man named James Robertson.  This is James:



James works at a factory in Detroit, and James has a perfect attendance record at work.  That is not all that remarkable, you might think.  Well, James walks 21 miles round trip, everyday, to and from work, and has done so for over a decade.

Apparently, his car broke down about ten years ago, and he has not been able to afford a new one. So, he walks to work.  That is a dedication I just do not see too often.

All too often, I hear people say "there are no jobs available" or "nobody is hiring."  To me, what they are actually saying is "I am not willing to make the sacrifices necessary to maintain employment." Men like James are living, breathing proof that is the case.  How many people can honestly say that they would make this grueling commute five days a week, for more than a decade?

James had every opportunity to make an excuse as to why he could no longer go to work.  He very easily could have been another name on the welfare rolls.  But, his work ethic and self respect did not allow him to quit.

By the way, other people took notice of James' story too.  People, inspired by his story, started giving him rides to work from time-to-time.  Another individual started a Go Fund Me page to raise money to buy James a new car.  The Go Fund Me page destroyed expectations and a local car dealership actually ended up giving James a new car.  Who would have thought that so much human decency and compassion could come from one man going to work?

Enjoy that new car, James.  You earned it.        

A Salute To Law Enforcement

Yesterday I read, with absolute disgust, about two police officers that were executed for the simple reason that they were police officers. I have bitten my tongue time-and-time again in the aftermath of the much publicized Ferguson and Eric Garner cases, but enough is enough. 

Let me be crystal clear: If you premeditate and deliberately take the life of another human being, you are the scum of the Earth. You deserve, in my mind, a much more severe punishment than is currently available in the U.S of A.  It should also be noted that looting, vandalizing, and rioting are not "protesting."  They are criminal acts of violence and should be treated and punished as such.  

Somehow, in the wake of the deaths of Michael Brown and Eric Garner, law enforcement officers, as a whole, have come under attack.  A person's life was lost in each instance, and I have no interest in debating the Michael Brown and Eric Garner cases.  That said, the actions of one individual, right or wrong, should never color the opinions of an entire class of similarly situated people. 

Are there some corrupt officers?  Like every profession, I am sure there are. However, 99% of law enforcement officers are good officers and good people. They are husbands, wives, fathers, mothers, siblings, and friends to many. They put on a uniform, go to work, and try to make their communities safer for all of us that reside there. They do this in the face of a small, but vocal, group of people celebrating the deaths of two of their cohorts that were executed by a deranged scumbag. If you are someone that celebrates the senseless execution of officers doing nothing more than their job, you are no better than the terrorists that attacked our country on 9/11.  If you think our country is so bad, I hear North Korea is recruiting. Have fun trying to "protest" there. 

Law Enforcement Officers are not the enemy. Criminals with no regard for human life are the enemy. Our officers deserve our respect and admiration for not only keeping us safe from the criminal lunatics, but for all that they do.  To all officers in uniform, I say thank you and stay safe. 

Obummercare

     In October of 2013, I expressed my extreme distaste for the atrocity known as Obamacare.  It is certainly no secret that I do not care for the policies and opinions of our President, or most left wingers for that matter.  However, based on recent conflicting Federal Court rulings on Obamacare, I thought it would be a good time to explore what I view as the larger societal epidemic.

     Without getting into too many mundane details, one Federal Appeals Court said Obamacare subsidies were OK and another said that Obamacare subsidies through a federally run exchange are not OK.  If the opinion that subsidies through a federally run exchange are not OK is eventually upheld by the Supreme Court, there will be even more people than I originally predicted that will loathe Obamacare.  It looks as if the legislation should be re-titled to the "Not-So-Affordable-As-We-Originally-Thought-Because-We-Are-Shortsighted Act."  Either way, it is tragically hilarious that something that affects us all to this extent is not figured out yet.  So, maybe we will have the pleasure of another year of uncertainty with respect to healthcare coverage.  Personally, I do not have the time to deal with that again.

     Although I blame the President and Congress, there is a lot of blame to pass around the citizens of this Country.  As I stated back in October, there is a growing disincentive to be productive members of society.  I see it every day.  If the government provides food, housing, healthcare, and spending money to those "in need," what incentive would those individuals ever have to provide for themselves?  Not to mention, these "needy" folks, as determined by the government, are never held accountable for their own debts and obligations because we must avoid "debtor's prisons."    (NOTE:  Still anxiously awaiting a response from Ms. Madigan.)

     I continually wonder when Americans will wake up and realize that the Government simply cannot (and should not) provide for our basic needs.  These are matters of personal responsibility.  If we, as a society, continue to lose our sense of personal responsibility, we all better hope that we agree with the policies and procedures of our Dictator in Chief.            

I Need A Will. Now What?

For most people, some life event will usually prompt them to start seriously thinking about planning for their own demise.  Maybe it is the death of a loved one, a birth, or prompting from a friend or colleague. Whatever the case may be, we can be assured that we will not live forever.  When I talk to people that want to get serious about the process, they frequently want to know what they can do in advance to maximize the productivity of our meetings.  I have a deep affection for lists, so, without further ado:

       1.   Compile a list of assets and liabilities.

The value of what you own will likely play a large role in your overall estate plan.  How your assets are owned (jointly or individually) is also important.  This may seem like a daunting task, but unless you are as wealthy as Mark Cuban, it is not as difficult as it would seem.  While you are creating your list, it is a great time to compile supporting account statements, deeds, vehicle titles, etc.  If you have all of these documents in a centralized location, you will make someone's life much easier down the road.

       2.  Think about who you want to wind up your affairs after you are gone.  

Remember that person whose life is going to be made easier I mentioned in number 1?  They thank you in advance for taking number 1 to heart.

       3.  Think about who you want to take care of your minor children.        

If you do not have minor children, feel free to continue enjoying your peace and quiet while you skip to number 4.  If you do have minor children, you may come to find that you and your spouse/significant other may not immediately agree on this topic.  I assure you, this is a conversation you would rather have in the comfort of your own home.

       4.  Determine who/what you want your assets to go to.    

With some limited exceptions, people have fairly broad discretion to distribute their assets as they see fit after their death. However, unless these wishes are outlined in an enforceable Last Will and Testament, the State will make this determination for you.  Based on the State of Illinois' track record, that is probably not a risk you want to run.

       5.  Write down the questions you have.

This seems unnecessary, but writing questions down as you think of them will ensure that they are not forgotten or overlooked.

I have to admit, contemplating my own mortality is not enjoyable.  But, in my mind, protecting the assets I have worked hard for, and assuring my loved ones are cared for, far outweighs that somewhat uncomfortable reality.  It is also important to remember, just because you have a Will does not mean you are required to use it anytime soon.    

Unintended Consequences

This article provides an excellent cautionary tale about "cheap" legal forms.  This do-it-yourself form was probably fairly costly to Aldrich's brother:

http://www.abajournal.com/mobile/article/e-z_legal_form_proved_to_be_complicated_in_litigation_over_wills_missing_re/?utm_source=maestro&utm_medium=email&utm_campaign=weekly_email

A Tribute To My Friend

It is difficult to believe that a year has come and gone, but it has.  On this day in 2013, I learned of John’s passing.  I was overcome with sadness and had so many questions.  I still am, and I still do.  John was so many things to an innumerable amount of people.  His positive and upbeat disposition was absolutely contagious.  If you ever came into contact with John, you remembered him and you probably had a great story to tell about your encounter.  That’s just the kind of guy he was.

To me, John was my coach when I was younger and a colleague when I came back to Lincoln to begin my career.  As I became involved in local boards and local organizations, John was always there.  He was not involved because he wanted the notoriety, or the power, or the prestige.  He certainly was not in it for the pay, because there was not any to be had.  John was involved with the community because he loved it.  By volunteering, he reciprocated the love everyone in the community had for him.  He contributed his time to our community willingly and unselfishly.

His incredible impact on the community, and beyond, has been readily apparent over the course of the past year.  A golf tournament that was held to raise money for veterans in his honor boasted a spectacular turnout, with golfers traveling great distances to participate.  A local basketball tournament which he spearheaded the creation of was renamed in his honor.  People turned out in droves to attend his visitation and memorial service.  The list goes on.

He wore many hats during his lifetime, but the most important hat he ever wore in my presence was “friend.”  From the impromptu “bachelor party” he threw me in Chicago, to having a candid discussion about an issue facing a local organization, John was always a friend.  He valued input and, even if we disagreed, he always showed me an incredible amount of respect.  Mostly, he always cared.  For that, I will be forever grateful.    

As I learned many years ago, death cannot kill that which never dies.  I still wish he was physically with us, but his friendship and spirit are immortal.  Until we meet again, cheers my friend.