When Plans Work Out 2

Jack won the open race at yesterday's Lebanon Cross Country Invitational. When he learned he would be running the open race, he softly mentioned that he could win it. His plan was to be near the front and then take the lead - which he did at the 1.5 mile mark. As proud as I am of him, I am even happier for him.

I Have My Stuff, I Do Not Need Yours

It is another fallow period for celebrity estate planning news - the deaths of Jerry Lewis, Dick Gregory, and Ara Parseghian have yielded nothing newsworthy to date. Meanwhile, the NYT has an interesting piece on how children do not want their parents’ possessions when the parents downsize or move into a retirement home (or die). I see this with many of my clients and their children.

A few brief points:

1. In the age of furniture and decorations from Ikea and Wayfair, people do not want to decorate their homes with their parents’ 50 year old household items.

2. Unless an item is incredibly unique (i.e. Tiffany lamp, Baccarat crystal), it likely has little monetary value.

3. Personally, when my grandmother moved into a nursing home 20 years ago, all I wanted was her vintage lava lamp but I was also given (i.e. asked to remove) the bedroom set which I quickly disposed of.

4. If you have something you do not use or like, throw it away so your children do not have to throw it away after you die.

Photo Credit:  T.J. Kirkpatrick for New York Times (pic is from linked article)

License:  Fair Use/Education

Following the Eclipse Herd

Would you have either of these guys draft your will? I ran into Chuck Meyer (Santen and Hughes) during the eclipse at the Banks.