A Note from Christine
stumbled across this interview last week featuring New
York Times best selling author, entrepreneur and
guru, David Bach. You might recognize some of his books
Automatic Millionaire and Start Late, Finish
The interview focuses on the importance of aligning your
money goals with your
values, fixing common money mistakes, and
strategies for repositioning yourself and/or your family
to quickly get back
on a path of abundance and wealth. It’s a must-watch
that will help you
take back control of your financial future and feel good
relationship with money again.
But, here’s what I really want to draw your attention
28 minutes into the interview, David talks about estate
planning. You didn’t see
that one coming, right?
In fact, David flat out says, “If you have money or
a business and you
don’t have a will, SHAME ON YOU. People work their
whole lives to build
wealth while claiming their top driving value is
family--but without a simple
will [or other estate planning documents], you will
FAMILY.” He ends with the warning to, “Get
your @** into an
attorney’s office and get your will done!”
Some tough language but everything he’s saying is
true. It doesn’t
matter how successful you are or how much money you
make; if you don’t
have the right legal protections in place, your
financial security and
your family is at risk. Having a solid estate plan is
really the only way to
safeguard everyone you love and everything you’ve
worked so hard for.
If you don’t have a plan and this interview was the
nudge you needed in
the right direction today, feel free to call our office
to schedule a planning
session. I’d be happy to sit down with you and your
family and walk you
through all of your options.
Have a great week!
4 Steps to Avoid Stress at the End of Life
In general, Americans are very uncomfortable talking
end-of-life issues. It can be hard for people to think
about (and plan for)
their own death, let alone the death of their loved ones.
I get it.
Yet by not discussing these issues, you are leaving
your future caregivers (most often your adult children)
in an impossible
position. Many people are taken completely
off-guard when their
elderly parents start to decline.
Because we don’t discuss these issues ahead of
time, caregivers are often left unprepared for the life
changes they are about
to experience. Depending on the speed and amount of
decline, a caregiver might
have to dedicate a significant portion of their life to
the growing needs of
Simple legal planning can help to avoid these issues. You
can pave the way
now, so that life is easier when incapacity, disability,
or ultimately death
occurs. Here are a few key ways to prepare:
Have “the talk.” It
doesn’t matter if you
are the impending caregiver or the person who will
need care, you should make
time to sit down and talk. This should happen
way before the elderly
person starts experiencing memory loss, so the sooner
the better! You’ll
need to discuss the senior’s wants, needs,
health issues, financial
resources, and preferences for the amount of medical
want at the end.
Have legal documents prepared. Work
with an estate planning
attorney to prepare important legal, financial, and
healthcare documents - and
keep them updated! Do this immediately if the
senior is showing signs of
increasing health issues. If you wait until the
senior is showing signs of
mental decline, they could be declared incompetent
to make their own decisions
and it will be too late for them to sign any new
Review financial information. Be
sure you review the
senior’s financial statements and understand
their income and expenses.
Knowing how to access this information will be
critical to handling their
affairs if they are unable.
Research elder care options.
Review the options and determine
what living situations the elder person is
comfortable with in advance.
Determine their preferences for hospital,
rehabilitation, nursing home,
assisted living, and/or independent living
communities as well as options for
memory care, home care, and even hospice.
Having these discussions in advance are
uncomfortable, but knowing this
information will save more stress and heartache
than you can imagine. For
additional information on how to prepare for
end-of-life transitions, contact
our office at (310) 782-6322.
Looking for Great Realtors that
Specialize in Estate Sales?
Steve Fingerhut and Paige Charnick are a
father-daughter team that work closely
with families after the death of a loved
one to help sell property of the
estate. They realize the family has enough
going on during a time of loss, and
they do their best to handle real estate
transactions with minimal stress or
headaches for their clients. You can learn
more about their services at http://www.probateforsale.com.
About Christine Brown
Christine received her bachelor's degree from U.C. Santa Barbara and
is a 1992 graduate of the University of the
McGeorge School of Law.
She is formerly a partner in the law firm of
Lebetsamer & Brown, LLP.
In January 2002, she opened her own law firm
concentrates solely in the
area of elder law. Her special emphasis is on
long-term care planning
and the concerns of the elderly, while also
in estate planning, trust administration,
Christine is a member of the National
Law Attorneys (NAELA),
the South Bay Bar Probate and Estate
well as other
community organizations concerned with the
adults. As an active
member of her community and State Bar,
various Superior Court Probate Departments
public with legal
issues. She works regularly with California
Nursing Home Reform
("CANHR") and the Los Angeles Caregiver
here to learn more >>