Preparing Inheritors

 

Tech and People Interface

 

Recently a friend said something like—“Technology works just good enough to make me think it is helpful.” 

I often say—“technology is great…until it’s not.”  Below are notes from a session by the lady who wrote a

book I so enjoy called “Willful Blindness”.  These notes are excerpts from her thinking about AI and our

response as humans.  Look up her Youtube lectures if you find her ideas compelling.  She has been in

my head for many years so my enthusiasm may be a bit higher than average for her way of thinking.  Enjoy!

Social Security -- Advanced Representative Payee

 

Franklin Quote

 

ID Theft

 

Credit Freeze - On Repeat

Who You Want to Be

 

Credit Freeze ... who to call -- ON REPEAT

 

It seems there is a relentless surge in scammers working to get to people’s money.  

Business Owner Heads Up

Sources: IRS.gov & Bradford Tax Institute

Crude Oil Production in Oklahoma

 

In - Law Wisdom ...

 

Estate Plan for Regular Folks

 

 

If you don't have an estate plan in place, create one now. 
Right now.

You see, an estate plan isn't just for the super-rich.

Thanks to today's ultra-generous $12.92 million exemption for singles, or effectively $25.84 million for married couples, you may have ignored an estate plan. (BTW—this generous number is set to expire at the end of 2025-- and go to who knows what.)

 

Here are five facts well 
worth remembering.

1. Even if you're not exposed to the federal estate tax, you still need to plan for the distribution of your assets and the guardianship of your minor children.

2. Having a will ensures that your wishes are respected and legally enforced after your death.

 3. A living trust can help your beneficiaries avoid probate, which can be a costly and time-consuming process—especially if you have property in more than one state. 

4. Keeping your beneficiary designations up to date, on things like IRA, 401K, and insurance policies, takes precedence over wills and living trusts when your assets are distributed.

5. Wills and living trusts alone, do not minimize federal estate tax or state death taxes.

Additionally, if you have children who have reached age 18 or above, then encourage them to give mom and dad powers of attorney for health and financial.  This will authorize you to help the young adults, if need be, without a bunch of hassle.  

We have given away many copies of FIVE WISHES which is a legal document form which works great for young people and those in the process of figuring out their estate plans. There is also a standard form on the Oklahoma Bar Association website for Power of Attorney and Living Will which many have used as well.  Ask us about this next time we meet if you have someone in your life who could benefit. 

Mother Teresa & Einstein

   ** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. ** 

Book Notes

  ** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. ** 

Not Your Average Emergency Fund

Here is an article I wrote recently for the CFP Board...

The Age of A.I.

 

** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. ** 

Digital Currencies

I have struggled to put together a summary of Bitcoin and other digital currencies that might help people think about how it might be used in their own financial plans. 

However, a good friend of mine from South Dakota - Rick Kahler, CFP® - published an article this week that really helped. I have some additional thoughts on this, but for now there’s no need to muddy the water any further.

Food for thought: “If the perfect currency were to fall from the sky, no one would become instant billionaires.”

Happy reading!

** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. ** 

3 B's of Retirement

** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. ** 

 

Transformation Mindset

 ** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. ** 

Conflict: A Great Quote

 

** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. ** 

Yeah, I've Heard of Social Security

 

** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. **