Sheppard Law Firm - December 2020

Sheppard Law Firm - December 2020

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Celebrating the Wins of 2020

And Looking Ahead to 2021

The latter half of 2020 included a big change for my family. In August, my wife and I dropped off our eldest son, Connor, at the University of South Florida (USF) to start his freshman year. Connor is our first child to “leave the nest,” and like many teens, he was more than ready for independence and to get away from his parents’ rules! We’re no longer there to remind him about homework and cleaning his room. It’s every teenager’s dream. As for my wife and I, we miss having him at home. There are simple things that remind us just how much our family is changing — like when we sit down for dinner and there are just five of us at the table instead of six. It’s even more strange to take family trips in my sedan rather than my wife’s big “people mover” vehicle. It’s an emotional, strange adjustment, but we could not be more proud of him. We can’t wait to have him home for an extended period of time after Thanksgiving when USF goes virtual for the remainder of the semester. Connor’s transition to college life wasn’t the only big change in our household. The Hill family officially no longer has any elementary school students! It’s bittersweet to see your kids grow and learn more, but my wife and I are looking forward to this next chapter in our family’s story. These transitions have been anything but simple, given all the pandemic precautions in place, but if we’ve learned anything throughout the past nine months, it’s just how resilient kids are. From digital school in the spring to wearing masks to classes this fall, our kids have adapted well. I often think about how much Connor could be missing compared to other students who were able to start school normally in the past. I worry that he isn’t enjoying himself, but Connor doesn’t know any different. He says he’s still having fun at college. As a parent, there’s not much else you could want for your child. As we add masks into our regular laundry rotation or settle for at-home movies and takeout more frequently than normal, I’m hopeful that 2021 will see us return to a greater sense of normalcy. We’ve seen just how powerful this virus can be through the lenses of our clients’ lives. Many have experienced loss, uncertainty, and fear. As things continue to adapt and change, my hope is that we can find peace in 2021 instead.

Personally, our family misses movie nights at the theater and dinners at local restaurants, and we can’t wait to have a better understanding of this virus, so we can return to those activities that have given us so many memories and traditions. I can feel the tide shifting and us getting closer to that goal each and every day. This holiday season, as you settle into adapted traditions and safe celebrations, I hope you find a sense of comfort in the wins of 2020. (Yes, there were wins!) I look forward to a healthy and prosperous 2021.

Happy Holidays!

– Michael Hill

1 (239) 265-9779

December 2020

Be a Better Listener for Someone Who Needs to ‘Get It All Out’

It’s not always easy to share feelings of frustration, anger, sadness, or other strong emotions — but it’s healthy to share them. Sometimes, we need to vent and get it all out. Venting gives us an opportunity to release these emotions, which often leads to mental clarity. However, when someone comes to you to vent and share their heavy emotional burden, listening can be just as challenging as sharing. You want to be supportive, but you don’t want to interfere. Strong feelings and tough situations may be involved. What can you do to be the listener they really need? It starts with your body language. Open yourself to their emotional needs. Gregorio Billikopf, an interpersonal relationship expert at the University of California, Berkeley says if you begin the conversation standing, invite the person to have a seat with you. Another thing you can do as a listener is position yourself below their eye line. This puts the person venting in a more active “storyteller” position and you in a better “listener” position. While in this position, maintain eye contact. It’s okay to look down or away occasionally, but try to keep steady eye contact.

Billikopf also notes that, as a listener, it’s important to avoid interjecting. Don’t offer input, suggestions, or guidance to the person venting until after the person has had the chance to get it all out. “During this venting process, there is still too much pressure for a person to consider other perspectives,” Billikopf says. While you don’t want to interject, you do want to be an active listener. This means you don’t want to be completely silent. This is where “reflective listening” comes in. Occasionally repeat what the speaker says — but don’t use their exact phrasing. Reword slightly in a sympathetic manner. Don’t spin their words or mistakenly interject an opinion, as it may not be the opinion they’re interested in hearing. Alternatively, listening cues like “mm” or “hm” and nods are always welcome. One last thing to keep in mind: You do not need to offer a solution to the person’s problem or concerns. They may just be venting to get their negative emotions out, not looking for answers or explanations. If they are looking for answers or guidance, wait for them to ask. In the meantime, lend your ear and let them know you’re there for them going forward.

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And Reap the Benefits, Too

current tax code remain through its projected sunset date of 2026. Learn more about DAFs from a trusted CPA before attempting this giving tactic. Tip No. 3: Donate Part of Your IRA

As we celebrate with our loved ones and get together to mark the end of another year, many are looking to give back to their communities and help others. Our team at Sheppard Law Firm would like to offer three tips to help you navigate giving back and optimizing current tax laws before the new year — a year capped off by an election and new lawmakers set to take over in 2021. Tip No. 1: Ensure Your Donation Matters With so many organizations and charities to donate to, it can be overwhelming to find a nonprofit that is both beneficial to the community and your tax bill. To determine if your charity of choice fulfills both of these requirements, verify them with the IRS Tax Exemption Organization tool and check their credibility through Charity Navigator, the Better Business Bureau, or similar sources. These platforms offer the peace of mind that your donation will be used well and can be beneficial for you as well. Tip No. 2: Create Donor-Advised Funds Donor-advised funds (DAFs) have recently become a more lucrative option for taxpayers. DAFs allow taxpayers to place assets into a fund and receive deductions on the donations made from that fund within that year. This won’t benefit your 2020 tax returns, but there will be some benefits should the

Prior to 2015, those who wanted to donate part of their retirement account to charity were taxed on the donation, but the law now allows those with an IRA to transfer up to $100,000 annually from it to a charity. It can also count toward the minimum required distribution for the year. Once again, a reputable expert can guide you through the limitations of this option. At the Sheppard Law Firm, our team of estate, financial, and real estate professionals can help you determine the best way to set up a legacy of giving this year. Learn more by calling our office at (239) 265-9779 before the year is over.

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‘Are Our Children Equal?’ Attorney Craig Hersch on How to Fairly Distribute Your Assets

Should you leave each of your children an equal amount of assets after you pass, or should you leave more to one child? Attorney Craig Hersch offers insight into this very question in his 2020 Sanibel Island Sun newspaper article, “Are Our Children Equal?” You can read the full version of Craig’s column — with additional tips and feedback — at FloridaEstatePlanning.com. Any parent of more than one child knows how different our kids are — even if they

have the same mother and father and were raised in the same household. One’s an athlete; the other is a bookworm. One’s a straight A student while another struggles to get Bs and Cs. One handles stress easily while another melts down at the slightest provocation. Then again, most parents won’t admit to loving one of their children more than another. We may love them in different ways, but we love them nonetheless. But are they equal? And more to the point of this column, should we treat our children equally inside of our estate plans? There is no right or wrong answer here. I can tell you from firsthand experience, when children are treated differently in an estate plan, the one who is treated less favorably will commonly ask if I knew of anything that they may have said or done to upset their parent. Unfortunately, the parent isn’t around any longer (or we wouldn’t be reading his

or her will) to provide assurances that their love was just as strong for the one child as the other who was left with more assets or money. But that shouldn’t preclude one from leaving more to one child than another, particularly where there is a real need. Consider the child who has a disability and because of decreased lifetime earning potential may not be able to accumulate sufficient savings to take care of themselves in retirement. Leaving that child a larger chunk of one’s inheritance would certainly be justified. So, in the end, there’s a great deal of emotion in our estate plans, whether we are leaving everything equally to our children or not. Whatever you do, make sure that your heart is in sync with your mind and that you’ve done your best to communicate your intentions where appropriate.

Inspired by BoulderLocavore.com

Festive Apple Cider

INGREDIENTS:

• • •

1 lemon

• • • •

2 tsp allspice berries

1 gallon pure apple cider 1 large orange, thinly sliced crosswise

1 inch fresh ginger, thinly sliced

2 tbsp honey

3 cinnamon sticks

•

2 tsp whole cloves

DIRECTIONS: 1. Using a paring knife, shave the lemon peel off in curls. Reserve the curls and save the lemon for use in a different recipe. 2. In a large slow cooker, combine the lemon peel with all other ingredients. Cook on low for 3–4 hours. 3. If desired, use a sieve to strain the spices. Serve and enjoy!

Take a Break

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(239) 265-9779

9100 College Pointe Court Fort Myers, FL 33919 (239) 265-9779

INSIDE this issue

The Wins of 2020 and a Look Ahead. .........1

How to Be a Better Listener for Someone in Need.......................................2 Give Back, and Reap the Benefits From the Tax Deductions............................2 Craig Hersch on How to Determine Which Kids Get What..................................3 5 Ways to Make Your Holiday Extra Eco-Friendly This Year . .............................4

The best compliments we receive are your referrals. When you refer us to your loved ones, we do all we can to exceed expectations.

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Sustainability is the gift that keeps on giving, so if you’d like to give a gift to the environment this December, make your holidays anti-plastic! Here are five ways that you can use the latest eco-friendly technology to make sure your Christmas is just as convenient as ever. Set up recycling bins. Nobody wants to sort through trash on their holiday, especially if you’re hosting all the parties! To avoid dealing with the waste, set up recycling and composting bins before any home holiday festivities. It’ll make your next trip to a local recycling center so much faster because everything will be organized and easier to manage. Use paper containers for leftovers. Give your celebration a restaurant-from-home feel by storing and giving away leftovers in paper containers rather than plastic. Paper will dissolve and leave behind much less chemical residue than plastic. Want to make it look extra posh? Stamp the exterior with the family initials! Change up your gift wrap. Why use wrapping paper every year when you can make your packaging extra interesting, colorful, and creative? Use

newspapers, magazines, comics, posters, maps, or even art by your kids to conceal your gifts this year.

Rent, borrow, or rethink your tableware. If you’re missing proper tableware for your

holiday celebration, don’t despair — some companies will actually let you rent out their dishes for your special evening! You can also borrow tableware from friends and family. But you don’t have to use metal tableware. Try following another culture’s customs and serve your food on local ingredients, like palm leaves, coconuts, or wood. Localize as much as possible. If you can buy ingredients like fresh meat or vegetables from local farms, you won’t use as much plastic packaging and you’ll support small businesses at the same time! Never buy single-use plastics if you don’t have to. For every holiday tradition, ask yourself: Can I reduce, reuse, or recycle any components to this? We hope you have a happy, eco-friendly holiday!

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