Sheppard Law Firm - August 2022

Sheppard Law Firm - August 2022

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The Years Are Short Raising Kids Is a Roller Coaster Ride

Florida has no shortage of many things, including beaches, warm weather, and amusement park rides. Aug. 16 is National Roller Coaster Day, a fitting celebration for the last days of summer vacation. Parents and kids are experiencing a roller coaster of emotions as they prepare for back to school. And in our household of four children, there’s hardly a dull moment. We’ve had a busy summer with a relaxing family vacation, camps, sports, and countless other activities. As the kids get older, they have their own interests, which means countless hours spent driving them all over town. With our hectic schedule, it feels like it has been a short summer, and it’s hard to believe it’s already time to head back to school. My oldest son, Connor, turns 20 on Aug. 3 and is preparing to start his nursing program at college. It’s strange to say that — I don’t feel old enough to have a 20-year-old! But it just proves how quickly time passes and that none of us are immune from it marching forward. Meanwhile, Chase is starting his final year of high school. We’re now getting into all of the college applications and the ups and downs that come with them. There’s excitement but also anxiety and the risk of disappointment. Now that we’ve done it once, it will hopefully be easier the second time. But there’s no doubt that it’s a big undertaking. Lindsay is starting her sophomore year of high school. She recently spent two weeks volunteering for a youth running camp before heading off to her running camp for older kids. But the big news is that she recently turned 15 and received her learner’s permit. It definitely feels like a roller coaster whenever one of your kids starts driving — they’re excited, and you’re at least a little bit terrified! Finally, Caleb will be entering his last year of middle school. And since he’s the youngest, it will be the last first day of middle

school our family will ever have. We had our last first day of elementary school only a couple of years ago, and there are still more last “firsts”

to come. It’s exciting but bittersweet to watch our family grow up. You may have heard the saying, “The days are long, but the years are short.” I try to

remember that whenever I can — even though it’s easy to forget. The daily grind can be challenging, exhausting, and emotional. But while you’re stuck in the weeds, time is still ticking. If you’re not careful, some of your best times together as a family can disappear in the blink of an eye. On this roller coaster of life, try to make the most of all your moments — whether you’re helping with homework, shuttling the kids to practice, or waving goodbye on the first day of school. I’m certainly doing my best to not take this time for granted. None of us want to wake up someday and wonder where all the time went.

–Mike Hill

1 (239) 265-9779

AUGUST 2022

Choosing Joy Every Day 3 Ways to Foster a Positive Attitude

In today’s society, we are faced with tragic stories and upsetting information, no matter where we turn. This can quickly lead us to a negative mindset

Keep a gratitude journal. When we think about gratitude and thankfulness, our minds usually think about Thanksgiving. But we don’t need to wait for a special day to show gratitude. Things happen to us every day that we should be grateful for. If you’re struggling to acknowledge your blessings, keep a gratitude journal and write a few things you are thankful for each day. Over time, that thought process will seep into your daily life. Surround yourself with positive people. The people we associate with play a huge role in our mental well- being. If you’re constantly around people who put you down or tell you that you can’t accomplish certain things, you will feel worse about yourself — or even believe them. You need to block the negative people from your life and surround yourself with those who think optimistically.

where we believe things can’t be fixed and will only get worse, so it’s even more important now to establish a positive mindset. Though it might be easier to bury your head in the sand, fostering positivity in your life will provide you with many benefits.

But doing so is easier said than done. If you’re unsure where to begin, try out some of these methods to help you get started.

Focus on the silver lining. When something bad or unfortunate happens, we are quick to think about the negatives and how they will impact us in the future. Instead, we should be searching for a silver lining. You can find a positive in any situation, but you’ll have to put in the effort to flip your perspective.

Establishing a positive mindset in today’s world may be difficult, but it is not impossible if you develop a strategy and follow through with it.

r e T h a n S a d n e s s

How Depression Affects Older Adults

Many medical conditions are related to age, but you may not realize that depression is one of them. Older people face a higher risk of depression than the rest of the population, and about 7 million Americans age 65 or older experience depression each year. Unfortunately, many people ignore their symptoms or fail to seek treatment. So, it’s important to know the signs and understand that help is available. While the vast majority of older adults are not depressed, the risk of depression is elevated due to the other health conditions they frequently develop — especially if they have a chronic illness. Since 80% of older adults have at least one chronic health condition and 50% have two or more, the increased risk of depression makes sense. But depression is not a normal part of aging or a healthy response to a new diagnosis. While everyone has days of feeling down or moody, depression is much more serious. Symptoms include irritability, hopelessness, fatigue, or loss of interest in favorite activities. Some people also suffer from difficulty concentrating, changes in appetite or sleep patterns, and feelings of guilt or helplessness. In some cases, depression can even manifest with physical symptoms like headaches or stomach problems.

The good news is that older adults are more willing to pursue mental health care than ever before. A 2022 survey by eHealth found that 48% of respondents were “very willing” to receive

needed mental health care, compared to only 29% a decade ago. The bad news is that many people still worry about stigma or think they can handle depression without treatment. Further, many doctors overlook the symptoms of depression unless patients ask about them. If you think you may be suffering from depression, help is available. Medicare Part B covers treatment, as do private insurance options. The primary treatments for depression consist of talk therapy and medication. Both may take some time to work — and some people need to try multiple therapists or antidepressants — but they have helped millions of people live happier, more fulfilling lives. Remember that your brain is an organ like any other, and you have to take care of it just as well! If you are experiencing any symptoms of depression, we hope you won’t hesitate to talk to your doctor. Today could be the day things start to turn around.

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Is Insurance a Wise Purchase for Estate Liquidity?

Has life insurance become obsolete? Craig Hersch examines the question in this recent blog post. Read the unedited version at FloridaEstatePlanning.com/is-insurance-a- wise-purchase-for-estate-liquidity . When I started practicing law more than 30 years ago, the federal estate tax exemption amount was only $600,000. Nearly everyone with any means bought life insurance to cover estate taxes. Today, the federal estate tax exemption is $12.06 million, so only those with significant wealth believe it necessary to provide liquidity to pay estate taxes. Two questions remain: Will the exemption remain this high? Are there other reasons besides estate taxes to purchase insurance? While it’s true that today’s federal estate tax exemption exceeds $12 million, the law sunsets on Dec. 31, 2025. Consequently, in 2026, the exemption will fall to $6.5 million. Whether new legislation is enacted is anyone’s guess and largely depends upon the political situation between now and then.

Even if estate tax is not a problem for your estate, there are other reasons to purchase insurance to provide liquidity. Retirement accounts such as IRAs and 401(k)s are frequently a large portion of a client’s net worth. Withdrawals from those accounts are taxed as income to the account owner and their beneficiaries. If you’re one of the lucky ones who doesn’t need your IRA for living expenses, it might make sense to use your required minimum distributions to pay for a life insurance policy. That way, you’re converting dollars that will be taxed into tax-free distributions for your loved ones. Those in blended families may also consider liquidity needs. Assume that Joe is married to Nancy. This is the second marriage for each. Nancy is not the mother of Joe’s children. If Joe leaves Nancy his assets in a marital trust for the rest of her life, and Nancy lives to be 90 years old or more, Joe’s children may be in their 70s before they inherit anything from Joe’s

estate. So, Joe may wish to consider a life insurance policy that pays his children when he dies.

Another reason to consider life insurance is when most of the estate is held in real estate investments, business interests and home values. The surviving spouse may have a healthy balance sheet, but her liquidity needs may surpass the income that she receives. I’ve seen circumstances where the decedent thought that he was leaving his spouse a healthy retirement only to find that she doesn’t have the liquidity necessary to support her lifestyle. There are many considerations when it comes to life insurance and liquidity, and you owe it to yourself and your heirs to think them through!

Tasty Bruschetta Chicken

INGREDIENTS

TAKE A BREAK!

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4 boneless and skinless chicken breasts, pounded to even thickness

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2 cloves garlic, minced 1 tbsp fresh basil, chopped

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• • • • •

4 tbsp olive oil

2 tbsp lemon juice, divided

• • •

Salt and pepper, to taste 4 slices mozzarella cheese Parmesan cheese, grated

1/4 tsp pepper

1 tsp Italian seasoning 3 tomatoes, chopped

DIRECTIONS 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. (239) 265-9779

ANSWER ON TOP OF PAGE 4...

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

INSIDE this issue

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Mike’s Family Heads Back to School PAGE 1 Dealing With Negativity? Try These 3 Things! PAGE 2 Depression and Older Adults PAGE 2 Life Insurance and Liquidity PAGE 3 Take a Break! PAGE 3 Tasty Bruschetta Chicken PAGE 3 4 Simple Yet Effective Ways to Work Out PAGE 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.

L i v e

Changing the Scope of Exercise

Your body undergoes a variety of changes over the years, many of which are degenerative and can be debilitating to your health. But exercise can help slow these age-related issues, like heart disease or high blood pressure, and even prevent them in the long run. Here are four ways you can get moving without overexerting yourself. Walking or Jogging Taking a stroll around the neighborhood or a few laps around the park can help build stamina, strengthen lower body muscles, and help fight against bone diseases like osteoporosis. If you want to sweat it out some more, jogging might be a great alternative. But remember to be kind to your joints: Walk at a pace you’re comfortable with, wear supportive shoes,

take breaks as needed, and walk on soft surfaces, like tracks or grass. Gardening While gardening doesn’t seem as vigorous as other exercises, it is a hearty physical activity. Digging around in the dirt is actually great for your immune system, and it strengthens your arms, legs/knees, and balance. Mycobacterium vaccae, which is a bacteria commonly found in gardening soil, can alleviate symptoms of allergies, asthma, and even psoriasis. Cycling Whether it be in a class or outdoors, cycling can be very beneficial for stiff or sore joints. You’re able to get your blood flowing and build muscles in the front and back of your

legs as well as your hips. Your arms are also strengthened due to the resistance of balancing your arms and shoulders to steer. Yoga Holding a series of poses can stretch and strengthen your muscles, tendons, and ligaments. It also helps lower heart rate and blood pressure and can even relieve symptoms of anxiety and depression. For older adults, a well-rounded workout that consists of endurance, strength, balance and flexibility can help in many ways. Some can even be fun!

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