pB:3, v8.24 — Business News & Trends

Business News & Trends

Mountain Views News Saturday, June 14, 2014

MVNews this week: Page B:3

Mountain Views News Saturday, June 14, 2014
B3BUSINESS NEWS & TRENDS Mountain Views News Saturday, June 14, 2014
B3BUSINESS NEWS & TRENDS
Mountain Views News 80 W Sierra Madre Blvd. No. 327 Sierra Madre, Ca. 91024 Office: 626.355.2737 Fax: 626.609.3285 Email: editor@mtnviewsnews.com Website: www.mtnviewsnews.comFAMILY MATTERS By Marc Garlett
THIS TOO SHALL PASS
GREATEST WEALTH TRANSFER IN HISTORY
UNDERWAY -What’s your plan?
*thecreative entrepreneur
by Lori Koop, Business Coach
MAKE YOUR SOCIAL MEDIA VISUAL
A new study by the Boston College Center on
Wealth and Philanthropy found that the greatest
wealth transfer in history is currently underway,
with more than $59 trillion passing to heirs,
charities and Uncle Sam between now and 2061.
The majority of this wealth -- $36 trillion -- is
passing directly to heirs and another sizeable
chunk -- $27 trillion – is passing to charity, either
through final bequest or total lifetime gifts.
And even though the study notes that the transfer
of $59 trillion is the largest in history, it goes on to
estimate the final figure will likely be even higher
- much higher.
So what is your plan for either transferring or
receiving inherited wealth?
If you don’t have one – and far too many people
don’t – I encourage you to start planning now,
since in my view your estate plan is more of
a process than a static document. In fact, my
relationship with clients continues long after the
estate planning documents have been signed.
As your life changes and your family grows,
legacy planning will play an important role in
how you choose to transfer wealth to future
generations. The law firm you choose to work
with on your legacy planning should keep all your
estate planning documents accessible to you in
an electronic file, and schedule timely reviews so
they can furnish you with three very important
services:
1. Ensuring all your assets are owned correctly
so your family isn’t stuck dealing with an
expensive, unnecessary, and public Probate
Court process. Establishing a Trust once and
then never looking at it again isn’t the answer
-- regular updating and assurances that all your
assets are documented and owned properly, is
the right way to do things.
2. Making sure the guardians you have named
for your minor children, the trustees you have
chosen to carry out the terms of your trust, and
the agents you have designated to make health
care decisions for you in case you cannot make
them yourself are still the people you want in
charge.
3. Helping you record your values,
experiences, family history and the other
important intangibles you want to pass on to
future generations so they are never lost. A
comprehensive estate plans should cover far
more than just your money, focusing on what
matters most -- your values, insights, stories and
experiences. The things most often lost when
someone dies.
Call our office today to schedule a time for us
to sit down and have a Family Estate Planning
Session, so we can help you look at what would
happen now if something were to happen to you
and ensure everything passes to your loved ones
exactly the way you want. Call 626.355.4000 or
visit www.GarlettLaw.com for more information.
Marc, a local attorney, father, and CASA volunteer (Court
Appointed Special Advocate for Children) is on a mission
to help parents protect what they love most. His office is
located at 49 S. Baldwin Ave., Ste. G, Sierra Madre, CA
91024.
There is more content being created on social media than there is time to
consume it. Posts that are visually interesting are capturing more attention.
Statistics show that images posted on Facebook get more engagement (likes,
comments and shares). I like to create word box images for Facebook posts:
a simple colored rectangle with a few words. It’s like a call-out box in a
publication. It stands out amongst all the text and pulls a reader in for more.
I use photoshop to create
most of my images but
there is also another
option that is easy to use
and is free.
Picmonkey.com is an on-
line photo editing, collage
maker and graphic design
tool. You can add text to
images, boarders, whiten
teeth, remove wrinkles,
create collages and do all
kinds of fun tricks. They
even have a Facebook
cover maker and a
Pinterest and Estsy collage
template. It’s really easy
and fun to use.
About MJ: MJ and her
brother David own
HUTdogs, a creative
services business that
specializes in Internet
Marketing strategies and
Social Media. They offer social media management services and help their clients build a strong on-line
presence. “Like” them on Facebook for trending news in social media, internet marketing and other
helpful tips, www.facebook.com/hutdogs.
Sign up for their upcoming classes, webinars and presentations at: www.hutdogs.com/workshops/
schedule
Even with recent gains in the market, the concept of homeownership is still under attack. Owners
feel let down by falling values, critics say the American Dream has become a nightmare, and others
say renting is the best option now. There is no doubt that many have suffered at the hands of bad
lending practices and economic turmoil associated with the recession.
However… owning a home has always been a huge part of the American Dream, and will continue
to be so long after the current economic crisis and wave of defaults has passed. Our homes are a
place of security for our fami-lies and for establishing traditions with our friends.
No one can argue against the benefits that homeownership provides to our communities and to
society in general. Homeowners have a higher level of self-esteem, education, and involvement
in civic activities. Why try to tear down these fundamental truths simply because we are in a
downward part of the always dynamic cycle of real estate?
The time has come to reaffirm the dream of homeownership, but in a more so-ber and accountable
fashion. We should emphasize responsible ownership for the long term, which helps us and our
communities achieve the common goals of financial and social well-being. Today’s naysayers will
change their tune when the cycle rises again, and you can count on that.
Remember the last time you lost your cell phone… what did you say to yourself? If you’re like me, you
said “I’m backing up my data from now on!”
Have you?
Imagine you had to rebuild your whole contacts list. How many contacts would that be? How many
hours would you consume? All wasted time. And if you’re like most entrepreneurs, you don’t have
much to spare.
Take this minute to think back… when was the last time you backed up your computer? Your cell
phone? Your pictures?
Schedule it right now. Put it on the calendar. Turn it into an intention, and it will most likely get done.
It’s not only smart, but it provides peace. Once complete, you’re safe. You will have covered yourself
should anything unexpected happen. Well, you never know… that’s the downside of technology. But
you can be prepared… that’s the upside.
So, backing up… it’s simply generating a second copy of your data and storing it at a second location
in case the first version gets damaged or destroyed. If you do so regularly, awesome! Pat yourself
on the back. Great job! (I bet you’ve lost data before.) If you’ve never backed up your data or don’t
do it regularly, consider making it a monthly practice at the very least. How about the first of every
month? Be sure to reward yourself after you’re done. Go for coffee. Or take 15 minutes with a
favorite book. Yes, we still respond to treats.
If you’re not tech savvy, hire someone. I like Peter at Foothill Tech in Sierra Madre (626-355-5152).
He can program your equipment to back-up automatically. This way you don’t even have to think
about it. It’s done while you sleep.
Technology… it’s pretty flawless. But we are human. Take a moment and avoid the nightmare.
. . . . .
LORI KOOP, helping creative entrepreneurs prosper. Schedule a complimentary session: www.LORIKOOP.com
or call 626-836-1667. (Location: 49 S. Baldwin Avenue, Suite L, Sierra Madre 91024) I write every other week.
Be the boss of you.
Start your own business.
Learn how...
www.LORiKOOP.com
We’d like to hear from you!
What’s on YOUR Mind?