July 2022 Newsletter

Happy Times – July, 2022

July, 2022

Happy July!  We’re just Chillin and grillin.  Schweizer and Associates is here to dazzle you this month.

  Inside this issue:

  • Is Your Child Leaving Home Soon?  
  • Powers of Attorney Facts
  • Planning to Exit Your Business Workbook
  • Include a Family Meeting in Your Next Family Reunion
  • Happy Lawyer Corner

We are open for appointments for all of your estate planning, real estate and small business needs.  We now offer virtual /zoom appointments as well as in person appointments.  So give us a call – the mini loaves are calling your name.

They grow up so fast, don’t they?
Helping your child prepare for the next phase of their life can be exciting, nerve-wracking, and a little bittersweet. Of course, there are practical considerations, too. Make sure you play your role as a responsible parent by supporting them as they form new financial habits, transition out of living at home, and plan for their future.
You are used to playing an active role in your child’s health, education, and other decisions. But once your child reaches the age of 18, legally, things change.
For one, you are accustomed to having access to all your child’s medical records. But once they reach the milestone of turning 18, the federal Health Insurance Portability and Accountability Act (HIPAA) dictates that their medical records and health information become accessible only to them as the patient. A release of information, sometimes known as a HIPAA Authorization Form, must be signed by your child for a doctor to speak to you about their care or health information, even if your child is still covered by your health insurance. To ensure a seamless transition from home, assist your child in finding a new primary care provider, and ask your child to transfer their medical records from their pediatrician to their new doctor. It is best not to wait until your child gets sick or injured so that no gaps in preventive or acute care will occur.
Read More Here
If your child has recently graduated and you want to learn what estate planning documents he or she needs, reach out to us.  We’re here to help – just let us know if you would like to meet or talk on the phone.
Do you own a business?  Are you planning on retiring from that business one day?  Even if you are just starting out, one day you will want to retire from your business. It’s never too early to start thinking about business retirement planning.  We’ve created this workbook to help you start thinking about how you will retire from your business.  Check it out here:

Include a Family Meeting in Your Next Family Reunion
Along with warmer weather and lazy days spent at a pool, summertime also often includes a family gathering, such as a Fourth of July barbecue, a family vacation, a reunion, or time spent at a family cabin or lake house. Whatever the form, in our always-on-the-go society, getting the whole family together is a rare occurrence. Consider taking advantage of this time together to discuss your estate and financial wishes with your family by including a family meeting in your family gathering.
What Should You Talk About in a Family Meeting?
Although there is no right or wrong answer to this question, a family meeting could cover the following topics:
  • Who you have appointed as your trusted decision makers. You can let your family members know who you have selected to be your executor or personal representative, successor trustee, and agents under financial and medical power of attorneys. You may also consider explaining the reasons why you have chosen these people to act in these roles.
  • What your end-of-life wishes are. People sometimes select a healthcare agent to act on their behalf but then never discuss with that agent their end-of-life wishes. This puts the agent in the uncomfortable position of trying to guess what the person would have wanted or being presented for the first time with the person’s wishes in an advance directive or living will in a moment of crisis. Expressing your end-of-life wishes in a family meeting helps ensure that everyone is on the same page when the time comes for decisions to be made on your behalf.
  • What specific tangible personal property family members want. A family meeting can be a great opportunity for family members to express their hope of receiving certain items of tangible personal property, such as furniture, jewelry, art, and vehicles. We are often surprised to learn the items that family members have emotional attachments to. For example, your daughter may wish to have the platter you always used to serve the Thanksgiving turkey. The family meeting is a great forum to express these wishes.
  • Who will receive certain tangible personal property and why. Along with family members expressing their wishes to receive certain items of tangible personal property, a family meeting is the perfect opportunity for you to express who you wish to receive certain pieces of tangible personal property and why. Particularly if multiple people want the same item (such as Grandma’s wedding ring), a family meeting can be a great time to discuss who should receive the item and why. Family members are more likely to respect your wishes if you make them known, and future disputes can be avoided. You can even pass on some of the items at the family gathering so you can witness the joy that the gift brings your loved one.
Use the Family Meeting to Create a Family History
The topics discussed in a family meeting do not have to be limited to issues related to your estate and financial plans. A family meeting is also a great time to reminisce about favorite family memories. Hearing family members share their favorite memories and seeing the sparks of recollection in others is a lot of fun and can be the best part of a family meeting.
Because family legacy is about more than just money and property, we recommend video recording or having someone take notes about the memories shared so the information will be kept for future reference for all family members. A family history like this is often the most cherished family possession.
The Happy Lawyer Corner

What’s on the agenda for The Happy Lawyer?  July is all about estate planning for young adults!  This month she will be discussing the following topics:
  1. Happy 18th Birthday!  Now What?
  2. Coming of age and Powers of Attorney
  3. Kids Going Away to College – Why You Should Include Estate Planning in the Preparation.
  4. Estate Planning is for Everyone – No Matter Your Age.
You can read our blogs here:  https://nclegalcounsel.com/category/legal-news/blog/
Tune in each week to our Instagram, Facebook and Linkedin Pages to learn more about these topics each day.  Every week, The Happy Lawyer will be posting videos, blogs and articles of interest on the weekly topic.  On Fridays, she will offer some type of  media for you to download:  an infographic, workbook, e-book or checklist.

You will not want to miss this month’s webinar:
Sign up here: https://www.eventbrite.com/e/382107883967

Webinar will be held on Wednesday, July 27, 2022 at 1:000 p.m. via zoom.  Replays will be available on our youtube channel and our website.