DuPont Wealth Solutions - August 2022

DuPont Wealth Solutions - August 2022

LIFESTYLE ADVOCACY FAMILY FINANCE LAFF is a publication of DuPont Wealth Solutions and The Law Offices of DuPont and Blumenstiel, blending original and curated content, and is intended to educate the general public about investing, finance, estate planning, personal injury, and small-business issues. It is not intended to be legal or financial advice. Every situation is different. The information in this newsletter may be freely copied and distributed as long as the newsletter is copied in its entirety.

22 AUG

THE MARCH TO A MILLION CONTINUES

With the Help of My Amazing Team

As most of you know, I am on a journey to positively impact a million people by 2030. My march to a million started a few years ago when I began to wonder what drives me to succeed in my goals and visions — my “why” factor. It’s never been enough for me to simply set goals. Instead, I wanted to know if my work was pursuing a dream I could believe in. This is when I found my “why.” I always told myself that I wanted to make a difference in people’s lives, but that always felt too vague. There was no way I could measure that, and there was no time limit for that goal. So, therefore, I created one. Then my plan to impact a million lives by the time I’m 65 in 2030 began. I started using all networks to reach new people whom I could influence. By writing a chapter in a book, developing a podcast, using social media, and so much more. It’s been an incredible journey, and I’m not finished yet.

goal of our team. I’ve realized that I can’t take this journey alone and need a support system to help me succeed in my pursuit.

Now that this journey is a team effort, it’s time that I change my logo. Some of you may have noticed that in our newsletters, there is an image of me as a superhero, with my trusty sidekick Skylar.

For longtime readers, you might’ve noticed that, over time, we stopped putting our accomplished numbers in the newsletters. That’s because it was getting far too easy to attain my goal! At the time, we counted a “positive impact” as any person who received our content. I adjusted the way I measured my impact without changing my intention. I now track the feedback I get from clients in different ways. This feedback can come from our referral program, telling friends or loved ones about our services, or personally telling me how I have created an impact on their lives.

“At first, I was doing everything myself. I interacted with all of the

But that will now change to a more team- oriented image since I’m not taking this journey on my own anymore.

clients, posted items on social media, and did things behind the scenes. But now, I have an entire team behind me who are joining me on my march to a million.”

I want to thank my incredible team for joining me on my march to a million. Thank you for believing in this goal and sharing this passion with me. I also want to thank you, my readers, for participating in this journey. Thank you for allowing my team and me into your lives and helping you in any way we can, and referring us to the ones you care about.

But that’s not the only thing that’s changed.

At first, I was doing everything myself. I interacted with all of the clients, posted items on social media, and did things behind the scenes. But now, I have an entire team behind me who are joining me on my march to a million. My colleagues have their own personal interactions with our clients and are contributing to the goal of positively impacting one million lives. Over the past few months, our team has continued to grow, and I can’t thank them enough for their hard work and dedication. Because of our internal growth, I noticed that the march to a million was no longer just a goal of mine but a

We look forward to helping you for years to come. Who knows, the march to a million may become a march to two million!

Until then,

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How long have you been working at the law firm, and what do you do here? I’ve been working at DuPont & Blumenstiel since 2014, but I’ve known and been working with Greg DuPont for much longer. Straight out of college, I worked for my father’s financial planning business, and that’s where I met Greg because he was my father’s attorney. In 2003, I started working with Greg directly, managing the title agency office he had at the time. Today, there is no “typical” day at the office for me. On any given day, I could be handling HR duties, accounts payable, court documents and correspondence, and answering the phones. What is your favorite part of your job? My favorite part of my job is working with the clients. We have a lot of clients that do estate and financial planning with us. Some of them I’ve known for 15-plus years. It’s rewarding to know that STAFF SPOTLIGHT: MIKE MOELLER, SERVICE MANAGER

we are continuing to help these people develop a secure future for themselves throughout their lives. What would you say to someone hesitant about creating an estate plan? To anyone who is thinking about estate planning, I would say just take the time and do it. It’s good to have something in place in case something happens to you. It’s important to lay out your plans and final wishes for your family.

After going through my father’s death, I saw firsthand just how important estate planning is. He had all his documents already taken care of with Greg, so his passing was a lot less stressful of a time. It was nice to know that we were doing things the way he wanted.

WE APPRECIATE YOU

WHAT HAVE WE BEEN TALKING ABOUT IN THE PODCAST?

We want to use this space to express our gratitude to the following members of the community who have recently left us a review or have referred someone to our care. Thank you!

YOUR FINANCIAL ADVOCATE with Greg DuPont

EPISODE 29: Things You Should Know Before a Recession EPISODE 30: The Upcoming Paradigm Shift in the Economy

Kishore Billakanti Danielle Hall Keith Buschur

Subscribe to our show on your favorite podcast platform:

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How to Make Tough Decisions for Your Loved Ones Long-Term Care Explained for Families

It’s no secret that the cost of long-term care is extraordinary. Without the necessary planning, a family’s life savings can be quickly wiped out. According to Genworth, the national median monthly cost of long-term care in 2021 was the following: • $1,690 for adult day care • $5,148 for home health aide • $4,500 for assisted living • $7,908 for a semi-private room in a nursing home • $9,034 for a private room in a nursing home And, unfortunately, more than half of the population over age 65 will need some type of long-term care during their lifetime. It’s unpleasant to think about, but you and your loved ones will likely need long-term care at some point. That’s why it’s important to plan for it. WHAT LEVEL OF CARE IS RIGHT FOR YOUR LOVED ONE? Making the decision to place your loved one in a long-term care facility can be extremely difficult. There is no one right time to do this, as everyone’s situation is different. You may want to consult family members, doctors, and other important people in your loved one’s

life before making such a big decision. Here are four options you may want to consider. Adult daycare is a place your loved one can go during the day for activities and socialization. It can be beneficial for those with early-stage dementia, seniors who find it difficult to initiate daily activities, and families that need a break from care during the day. In-home aids can provide companionship, personal care assistance, and health care. It may be time for at-home care if your loved one recently left the hospital, had surgery, or if you’re noticing a decline in mobility, cleanliness, memory, and/or socialization. Assisted living is a long-term residence option designed for seniors who need help with daily activities, while living as independently as possible. It may be time for assisted living if

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you notice unsafe living conditions or behavior in your loved one. Assisted living is NOT for those who need extensive care. Nursing homes are similar to assisted living facilities but offer a higher level of care. It may be time for a nursing home if your loved one has advanced memory loss, needs around- the-clock medical care, and/or is unable to live independently. CHOOSE THE RIGHT FACILITY. Finding the right long-term care facility can be a daunting task, especially if you’re not sure what to look for. However, with a little research, you can find the perfect community for your loved one. Here are a few things to consider when choosing a long-term care facility. • Discuss with your loved one’s care team about what type of facility or level of care may be the best fit. Ask yourself, what amenities will your loved one need or want? • Decide what location will be best for your

read their reviews, and call them to ask questions. What are their living spaces like? What activities do they offer? What medical care and personal care services do they offer? What is the pricing like? • Tour your top choices. Make a checklist of things most important to you and take notes as you tour the facility. PLAN FOR LONG-TERM CARE WITH OUR PILOT PROCESS. There are several options available to help reduce your out-of-pocket costs for long-term care. We can help you purchase a long-term care insurance policy, or set up a life insurance policy with living benefits that provide leveraged funding for care. Our proprietary system, which we call our PILOT process, stands for Planning Improves Life Over Time. It is free from product or institutional influence, so you never have to worry about us trying to sell you something you don’t need. Our PILOT process will help you

loved one — a facility close to where they’re currently living or one closer to relatives.

gain a true understanding of your current financial situation and all of your options. Give us a call at 614-408-0529 to start planning for long-term care.

• Decide your budget. Are you willing to pay more for a higher level of quality care? • Research facilities in your chosen location. Visit their websites,

3 Issues You Need to Consider Estate Planning for Sizeable Assets?

Estate planning can feel like a monumental task when juggling other responsibilities. However, you want to make your estate plan your top priority — especially for those with sizable finances and assets. You want to ensure all your wishes are in order and are in the right hands before it’s too late. Here are three items to consider when planning your estate. CHOOSE YOUR FINANCIAL POWER OF ATTORNEY WISELY. This individual will be in charge of your finances when you cannot make financial decisions on your own. You don’t want to choose someone who will take advantage of your wealth, and it’s not enough to pick someone solely based on trust. Instead, pick an individual who is responsible for themselves, pays their bills, files taxes on time, and will do the same for you. You also want someone who can communicate with government agencies and deal with everyday issues, retirement accounts, Social Security, and bank accounts. LEARN ABOUT INHERITANCE TAX LAWS. If you’re planning on leaving an inheritance to loved ones, look into state and federal tax laws. At the federal level, if your estate inheritance exceeds $11 million, you will have to pay federal estate taxes on the inherited assets. You may want to reconsider your inheritance plans if it’s over that amount. It’s worth considering

gifting or donating portions of your estate to avoid additional taxes. If your divided assets are under $11 million, you are exempt from federal and state estate taxes.

CREATE A LIVING TRUST. While a will is vital to protecting your wishes if you have a large portion of assets, it is not enough to ensure your wishes and assets are protected. A living trust allows you to document your wishes while you’re living and prevents your family from dealing with probate. Best of all, if you want to change something in your living trust, you have the freedom to do so. Creating this document gives you the power and control over what you would like to happen when you pass away, and your trustee is required to follow those instructions exactly. When handling significant finances and assets, estate planning is confusing and time-consuming. Luckily, you don’t have to do it alone. Allow your friends at DuPont Wealth Solutions to assist you. We will be happy to review your needs and concerns and help you find a plan that works best for you.

SUDOKU

TASTY BRUSCHETTA CHICKEN

Inspired by Delish.com

Fresh tomatoes and basil abound in August, practically begging to become bruschetta! This recipe turns that appetizer into a main dish.

INGREDIENTS

4 boneless and skinless chicken breasts, pounded to even thickness

3 tomatoes, chopped 2 cloves garlic, minced 1 tbsp fresh basil, chopped Salt and pepper, to taste 4 slices mozzarella cheese Parmesan cheese, grated

•

• • • • • •

4 tbsp olive oil

• • • •

2 tbsp lemon juice, divided

1/4 tsp pepper

1 tsp Italian seasoning

1. Add chicken to a large resealable bag. 2. In a small bowl, combine olive oil, 1 tbsp lemon juice, pepper, and Italian seasoning. Pour over chicken and seal. Refrigerate for 30 minutes. 3. Turn a grill to medium-high heat and add the chicken. Discard the marinade. Grill chicken 5–7 minutes per side or until fully cooked. 4. Combine the remaining lemon juice, tomatoes, garlic, and basil. Add salt and pepper, to taste. 5. Before taking the chicken off the grill, top each breast with a slice of mozzarella cheese. Cover and cook 2–3 minutes, then serve topped with the tomato mixture and grated Parmesan cheese. DIRECTIONS

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INSIDE

This Is No Longer Just a Goal of Mine PAGE 1 Staff Spotlight: Mike Moeller, Service Manager Our Podcast Episodes Client Appreciation PAGE 2 Choose Your Financial Power of Attorney Wisely Tasty Bruschetta Chicken PAGE 3 Siri, What’s the Prettiest U.S. Restaurant? PAGE 4

3 Most Beautiful Restaurants in America

WHERE THE VIEW IS PART OF THE MENU …

Accompanied with a classic burger and ice cream diner menu, this East Coast gem is a destination you won’t want to miss.

CECCONI’S DUMBO — NEW YORK CITY There are plenty of gorgeous restaurants in the Big Apple, but you’ll always hear Cecconi’s Dumbo mentioned among the best. Located in Brooklyn Bridge Park, your table might have dramatic views of the bridge or a waterfront view of the Manhattan skyline. It’s the best possible pairing with their classic Italian menu, complete with handmade pasta and high-end ingredients from Italy. THE FRENCH LAUNDRY — YOUNTVILLE, CALIFORNIA If there’s a contest for the best food and views offered by a restaurant in America, this three-star Michelin restaurant just might place first. Run by Thomas Keller, its rustic, cottage-like setting in Napa Valley always turns heads with its surprisingly sophisticated design (as well as its exclusive tasting menus!). The restaurant’s gardens are beautifully lit and dotted with Japanese maple trees — a sight that will blow you away. Most people can have a good meal at home, so if you have the time and money, why not pay a little extra for a nice view? Go ahead and indulge. We won’t judge — we’ll even be a little jealous!

When you go to a nice restaurant, you’re not just paying for food — you’re also paying for an experience. Decor might be the last thing on a guest’s mind, but with the right design, some restaurants are absolutely breathtaking. Here are a few of our favorites. PINK CADILLAC DINER — NATURAL BRIDGE, VIRGINIA Taking a step into this restaurant feels like stepping straight into the 1950s … in all the best ways possible. The diner’s bold, beautiful shades of bubblegum pink — including a vintage pink Cadillac parked in front — prompt nostalgia and delight.

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