Where We Plan for Children First . . .
Ph.: 305-456-7158
QUESTION: I see how I can pass down assets to my family, but I do not see how I could pass down family values. Can you explain?
ANSWER:
Family values are not as easy to pass down to future generations as it may be transferring of assets, such as real estate and money in the bank.
However, that’s one of the things that differentiates my firm from others. We try hard to find ways to pass down values. The way we do this may depend on the family and the values to transfer and this may not take the form of a legal document, but this planning goes beyond . . .
The first thing I tell my clients to do is start educating. We must give the example for others to follow but sometimes the example alone is not enough, we must openly and explicitly communicate what we value, how we value things and how we want others to react to our choices and goals. We gather with our client’s family or encourage our clients to have family meetings to discuss their estate plans and why they have planned the way they have and what is expected of each family member. We also encourage a legacy session. This is normally done after the plan is complete and the client has the opportunity to record, either in audio or video, their wishes, their concerns, their advice to children or beneficiaries and their expectations. Imagine, how valuable it can be to a family member to receive the advice of a parent, for example, even years after the parent is no longer alive.
Others will just write down instructions, and those are very valuable too. At the least, we make sure that the legal documents include as much of the purpose and value of our clients as legally possible.
Please Submit your questions here. We will try our best to answer them in our next weekly newsletters.
Yahima
How to Incorporate Family Values in Your Estate Planning
Baby boomers know money isn’t the only important aspect of estate planning.
Baby boomers want to leave their family more than just financial assets. According to a 2012 study released by the Allianz Life Insurance, Co. baby boomers identified family values as some of the most important things to pass down to heirs.
In 2012’s economic climate, it was no wonder family values imparted through stories, life lessons, and family possessions were at the top of the list. In an economic downturn, financial inheritances are more tenuous, unlike the abiding worth of family values. Thus, family values, tax-free of course, made the top of the list in importance.
However, a similar study conducted in 2015 by the same company showed that family values were also among the most important legacies boomers wanted to leave behind, even though the economy was more robust.
These studies show the enduring importance of family values, morals, and meaningful possessions as part of a carefully crafted estate plan, regardless of the economic climate.
Do you have family values you wish to pass on? Of course, you do. And yet you likely haven’t taken action to ensure the legacy you are leaving is the one you really want to leave behind.
It is easy to include family values in your estate plan when it’s built into the process. It is not the norm with most estate planning lawyers or with the DIY legal document services. We know that your financials will be managed by estate law, but what about your memories, your values, and your teachings? Consider including written memoirs, video or audio recordings of family stories, or your advice to children, grandchildren and other family members in your estate plan. These are the valuables most likely to be lost after your death. Wouldn’t it be nice to preserve them?
Could you imagine how valuable it would be to hear your family history directly in the words of your grandparents, great-grandparents or even earlier generations right now?
If you want to pass down a truly holistic legacy, one that manages and preserves both your finances and your family values, start by coming in to meet with us for a Life Planning & Beyond Session. As your Personal Family Lawyer®, we will guide you in creating a comprehensive estate plan that protects and preserves your family’s heritage.
This article is a service of Yahima Suarez, Personal Family Lawyer®. We don’t just draft documents, we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life Planning & Beyond Session,™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office at 305-456-7158 today to schedule or click Life Planning & Beyond Session and mention this article to find out how to get this $250 session at no charge.
Yahima
305-456-7158
ysuarez@YSLawyers.com
A reflection on Death . . .
The saying usually goes, the only thing certain in life is death and taxes. I have to defer somehow from the saying and say that the only thing certain in life is death. The only thing you need in order to die is to be alive. Everything else is relative and unimportant when it comes to dying.
People avoid talking about death while others celebrate it. Whoever you are, know that this is an important subject.
At the beginning of last year, a good friend and one of the attorneys I respect the most suffered from a heart attack. He was close to dying when he had a second heart attack. He survived. He is not even 50 and he worked endless hours a week and his legal practice was above his own personal life.
Just last Thursday a very well known attorney in our community passed away. He was only 57. I did not know Ervin Gonzalez personally, but I knew of his many achievements and his power in the court room. While I do not know about his personal life, I can assume by my own experience as an attorney, that the stress levels he underwent were above and beyond normal.
Celebrities die of drug use and abuse out of the pressure of the industry and to keep up with the trends and demands of their profession.
As attorneys we take it for absolute truth that to be an attorney you have to be able to handle the stress levels, not complain about it, and get ready to handle more.
If death is certain, why don’t we make it a goal to live a better life?
Feel free to share your thoughts about it. I would love to see what others have to say about the subject.
In the meantime, be happy and take a moment and breath deeply and reflect upon life and relieve at least a drop of that stress!
Saludos,
Yahima
Yahima Suarez, PA
Life Planning & Beyond
305-456-7158
Is your Child a Graduate? Then you must read this!
It was just a year ago that I was graduating! Well, that’s not really a true statement even though I feel very young. It was 18 years ago that I graduated from High School. Wow! Yes! I said it! 1999 was the year when I finished High School and we had beepers instead of smart phones.
This coming Monday my step-daughter is graduating from High School and I can relate and re-live the moment. She is now a young adult, not the 7 year old I met so many years ago. She has grown to be an smart young woman.
If you relate with the truth about time moving speedily, then you might relate to the fact that we must plan ahead for when the time comes. We worried about our children when they were little and we put every plan and protection in place for them when they are very young. Now we worry about our children because they are bigger. Being prepared for what time can bring is not just for over-cautious people, it is for smart people like you.
So let me share something you may not know about your high school graduate: If your child is graduating from high school your “child” is already or soon to be eighteen years of age. This is the age of majority in Florida. At this time, your child may feel grown up and ready to take on the world, while you feel he or she continues to be your baby. The truth is that you, as a parent, can no longer make legal or medical decisions for your child. It is and will always be your child, but unfortunately, the law says that your child is now an adult and can make his or her own legal and medical decisions. What if he or she cannot make such decisions on his/her own?
If you are in this situation, do not despair. We have you covered. We want to offer to you today a free Health Care Power of Attorney for your child (between 18-24 and enrolled in school). This will ensure you continue to have authority to make medical decisions for him/her. To take advantage of this Free Gift, you must attend a Life Planning & Beyond Session with me. The Life Planning & Beyond Session in itself is worth $750, but you can have it for free as my Graduation Gift to your family.
But this is not going to be available forever. These special Gifts are only available for the first five persons who schedule a Life Planning & Beyond Session with me during the month of June, 2017 so do not wait, click here to request your appointment or give us a call at 305-456-7158.
In the Life Planning & Beyond Session you will be able to:
- Choose the right guardians for your kids without making any of the common mistakes most parents (and even lawyers) make.
- Discover how to legally avoid all estate taxes and keep your family out of court!
- Ensure your kids inherit your values, not a sense of entitlement.
- Get your financial house in order and keep it that way.
Again, just click here and fill out your information and we will contact you within 24 hours to schedule a Life Planning & Beyond Session with me or just give us a call at 305-456-7158 and we will schedule a session for you.
Good job in getting your child in the right path and working towards bigger dreams.
Congratulations Grads!
See you soon!
Phone #: 305-456-7158
Email: ysuarez@yslawyers.com
What is Mother’s Day Anyways?
What is Mother’s Day? Is it really one day a year? Is it just another Sunday in May? Is it a reason to run to the Mall and shop for gifts for moms and sneak in something for yourself too? Is it a Mother’s Appreciation day? Is it another excuse to celebrate? What’s Mother’s day?
For you, it may be all of the above or none at all.
Mother’s Day is a tradition that started in the United States when in 1908 Anna Jarvis held a memorial for her mother at St Andrew’s Methodist Church in Grafton, West Virginia. A year later Andrew Johnson made the second Sunday of May, Mother’s Day.
For me, Mother’s day is more than just the second Sunday of May, it is an every day event. It is certainly beyond a day to give a gift. It is an everyday Gift! It is a day for Giving Thanks to Mom for being the Eternal Super Hero in our lives. Having my Mother is a gift I treasure every minute. Being the Mother to my daughter is a gift beyond compare.
So if you are a MOM, just know that you are appreciated and valued! Moms are superheroes — what superhero can make a child feel better when they are sick with just a caress? Moms can know when there is something wrong, or something good, or “someone” is hiding something or someone is cold in the middle of the nigh.
Happy Mother’s Day on the Second Monday of may and my appreciation to every mom every single day!
My mission is to make sure that Moms are informed and know how to protect their children through the legal ways if something were to happen to them. Stay tuned for an special on your email just for you (in about a week), but first make sure we have your email. So click here: Life Planning & Beyond Session and make sure we have your information, or simply call us at 305-456-7158 and tell Mercy you want to be added to our newsletter list!
Yahima
305-456-7158
ysuarez@YSLawyers.com
How to Live Before You Die
In Steve Jobs’ 2005 commencement speech at Stanford University, he said: “Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life.”
When Jobs was 17, he read a quote that made an impression on him, and every day after he looked in the mirror each morning and asked himself: “If today were the last day of my life, would I want to do what I am about to do today?” And he said, “whenever the answer has been ‘No’ for too many days in a row, I know I need to change something.”
So, I ask you now, to look in the mirror and ask yourself this same question: If today were the last day of your life, would you want to do what you are about to do today, tonight, tomorrow, or the day after?
If not, it time to change? And when will you make the change?
Maybe, you are putting off change now because you are working toward what you hope is a better future.
But, how can you be sure that you are wisely considering all of your best options? And, how can you live the life you want now while simultaneously preparing for your future?
You can start with planning. Careful financial and estate planning can help you achieve your short-term and long-term financial goals, protect and preserve your personal wealth, and ensure your wishes for your end of life are respected and followed.
Jobs had an excellent point; facing death can help us have the best possible life now. Begin by coming in to meet with us for a Family Wealth Planning Session. Before the session, we’ll send you a Family Wealth Inventory and Assessment to complete that will get you thinking about what you own, what matters most to you, and what you want to leave behind.
Just asking these questions will be a fantastic starting point for you to begin to help to clarify your big life choices.
This article is a service of Yahima Suarez, Personal Family Lawyer®. We don’t just draft documents, we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life Planning & Beyond Session,™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office at 305-456-7158 today to schedule or click Life Planning & Beyond Session and mention this article to find out how to get this $750 session at no charge.
Yahima
305-456-7158
ysuarez@YSLawyers.com
Special Announcement: Come Join us April 15!!!!
Come Join us this coming April 15, 2017 at the Goodlet Park in Hialeah for a day of fun, egg hunting, games, prices, dance shows, bounces houses, food and more.
Bring your kids and have fund while getting some valuable information about the importance of naming guardians for your children, for free and you could be the winner of our Easter Basket!
Join us!
Any questions, feel free to click here to contact us!
See you Saturday, April 15th!!
Yahima Suarez
Why Involve your Financial Advisor, Attorney, and Accountant at Your Family Meeting?
Some people might have misgivings about having a third-party advisor present at an otherwise private family gathering, and it is certainly not a mandatory step. However, you might want to consider inviting your financial advisor, estate planning attorney, or accountant to the meeting for the following reasons:
- The presence of your financial and legal team can add a sense of authority to the conversation, reinforcing that your choices have not been arrived at lightly.
- With your permission, your team can review the structure of your estate plan with your family, highlight its benefits, and make the meeting easier for you to conduct.
- In some cases, there might be questions from your family. Your team can, with your permission, answer questions, especially those of a technical nature.
Tailor the role of your financial advisor, attorney, and accountant in your family meeting to your specific needs.
Whoever you include can give a brief presentation of your estate plan as part of the proceedings, or simply be on hand to clarify points.
When appropriate, someone from your team can even act as a facilitator or moderator for the meeting itself.
Best of luck over the holidays! Enjoy them with your loved ones and make the best of your time together. Peace, Love and Wealth for the New Year!
Yahima Suarez, Esq.
Yahima Suarez, PA
Life Planning & Beyond
305-456-7158
ysuarez@YSLawyers.com
What should you discuss at the family meeting?
Once you’ve committed to discussing your estate planning with your family, what should you share specifically? Should you detail the entire plan with them, or just an outline of it? Should you go into detail about who gets what?
The specifics of what should and should not be discussed about your estate will depend on your family, your circumstances, and your overall level of comfort with how much knowledge they possess.
You don’t necessarily have to violate your privacy, and there’s typically no need to reveal specific dollar amounts at this meeting.
One big caveat – if there’s anything in your plan that might stir controversy, concealing it now serves to invite conflict later. Thus, a good basic rule of thumb is to share as much as is necessary to get everyone on the same page.
Yahima Suarez, Esq.
Yahima Suarez, PA
Life Planning & Beyond
305-456-7158
ysuarez@YSLawyers.com
Yahima Suarez, J.D. Estate Planning for your Family
Tips for a successful estate planning family meeting
When you hold your family meeting, a bit of awkwardness is to be expected at first—after all, no one in your family (presumably) is likely eager to discuss what will happen when you die or in the event of incapacity. Remind everyone that is not just about death, it is also about life planning.
Likewise, you need to be prepared to talk through some of the choices you’ve made that are likely to generate some pushback. The end of the meeting is often more comfortable than the beginning. The following guidance can help you get there.
- Plan the meeting after the holiday, if possible. If you’re gathering the family at a holiday like Christmas, try to arrange the actual meeting to take place after the holiday itself, so a potentially uncomfortable conversation doesn’t spoil any planned festivities.
- Invite your financial advisor, estate planning attorney, and accountant to be in attendance. (More to this point to come — stay tuned on next blog posts).
- Schedule the meeting in a quiet place that encourages candid conversation. A public place is probably not appropriate for this discussion. Your financial advisor or estate planning attorney might have access to space if you need it and prefer a “neutral” site over your living room.
- Set an agenda. Encourage open conversation, especially on any controversial points, but have a clear list of points to be covered, so you don’t forget anything in the midst of emotional moments.
- Set a start and stop time. This step will help the meeting stay on track without meandering away from the main points.
- Strike an inclusive tone. While you should not suggest that your decisions are open to challenge or discussion (it is your estate plan after all), try to convey that you are inviting the family to share your vision and goals. If you can get them on board with you at the outset, the risk of disputes will be significantly reduced later.
- Arrange for child care. This meeting should be an adults-only gathering so everyone can participate without distractions from babies and children.
- Set an agenda. Encourage open conversation, especially on any controversial points, but have a clear list of points to be covered, so you don’t forget anything in the midst of emotional moments.
- Set a start and stop time. This step will help the meeting stay on track without meandering away from the main points.
- Strike an inclusive tone. While you should not suggest that your decisions are open to challenge or discussion (it is your estate plan after all), try to convey that you are inviting the family to share your vision and goals. If you can get them on board with you at the outset, the risk of disputes will be significantly reduced later.
If you would like to know more or need help or guidance, email us at ysuarez@YSLawyers.com or call us at 305-456-7158.
Yahima Suarez, Esq.
Yahima Suarez, PA
Life Planning & Beyond
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