Trinity Elder Law - April 2021

Trinity Elder Law - April 2021

Peace of Mind Post

APRIL 2021

Controlling What You Can

WHEN BATTLING CANCER

and his dog? For others, the questions may have centered around child care, affordability, and accessibility. As an expert in elder law and the daughter of someone fighting cancer, I’ve learned that knowledge is power. You cannot control cancer, but you can control how you respond and prepare. Planning gives you this power. Prior to or shortly after receiving a diagnosis, you need to determine who will take care of your home when treatments leave you feeling sick or weak. You need to designate someone who can manage your financial wishes or make medical decisions on your behalf if at any point you’re unable to do so. (These are your powers of attorney.) Ultimately, you need to create a plan, including an estate plan that lessens the stress of battling cancer and relies on a support system. Remember, asking for help is not only okay, but it’s also necessary. Beyond your estate plan, I recommend designating someone as your “chief communications officer.” You will have people in your life who can do little beyond supporting you from afar, but they will want regular updates. Designate someone to communicate these details with others on your behalf. It’s the perfect role for adult grandchildren or siblings who just want to help! And finally, if you’re a caregiver, be sure that this desire to help does not become your only role. You’re still a spouse, child, sibling, parent, or grandparent. You deserve to have time to yourself and with others. Not allowing yourself to fulfill any role other than

I don’t think there’s anyone out there whose life hasn’t been affected by cancer. Whether you’ve faced a diagnosis yourself or you love someone who’s fighting it, just the mere mention of the word “cancer” conjures up memories for everyone. When I learned that April is Cancer Control Month, I remembered experiences in my own life. My paternal grandfather sadly died from prostate cancer, and my dad is a two-time cancer haver. I say that for a very distinct reason. Dad was diagnosed and successfully “beat” prostate cancer, but one week out from his five-year anniversary of remission, Dad

Visiting friends in Arizona pre-pandemic.

caregiver is very dangerous for your health and happiness.

I have the unique vantage point of both loving someone who has cancer as well as professionally helping families that are facing a similar diagnosis. I know how difficult this experience can be, but I also know how joyous the little things can become. As for Dad, he’s doing well these days, and we celebrate that. He doesn’t have to undergo chemotherapy at the moment, and he just needs regular monitoring and testing with his oncology team. He does have side effects that he lives with every day from undergoing two years of chemo, but all things considered, he’s doing fine.

Enjoying the farm last fall.

was diagnosed with lymphoma. For those who don’t know anything about the disease, some lymphoma patients will never reach remission. Dad will always have lymphoma, but regular testing and treatments can improve and extend his quality of life. A cancer diagnosis like that — any diagnosis, really — vaults you into uncertainty. It brings up so many questions. In my dad’s case, we wondered who would take care of the farm if he couldn’t? Who would take of the horse

We’re prepared. Dad is doing well. And that’s all we could ever hope for.

If we can help you or your family plan after receiving a diagnosis, do not hesitate to contact us.

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Preserving Pennsylv ARE MICRO-INVESTING APPS A GOOD WAY TO BUILD WEALTH?

We’re proud to call Pennsylvania home. This Earth Day, we hope you will join us in vowing to keep it beautiful! After all, every little action we take

EXAMINING THE PROS AND CONS

can have a profound impact on the environment. You may even consider including a conservation group in your estate plan. There are multiple ways to do this and a few facets to consider, but this can be an effective way to preserve your legacy and the state you love.

To outside observers — and probably quite a few people within — the world of investing is overwhelming. Nevertheless, common wisdom dictates that building investments, whether as part of a retirement plan or for other reasons, is an indisputably good thing, but it’s hard to figure out where to begin. Could micro-investing apps be a good place to start? What is a micro-investing app? Micro-investing apps, such as Acorns and Stash, allow users to invest small amounts of money in the market. Many of these apps will round up purchases made with a debit or credit card to the nearest dollar amount, then invest the difference in your portfolio. Other apps, like Clink, will encourage users to invest $1 per day. Pros Most investing apps are incredibly user-friendly and require very little oversight. They offer tutorials on how to invest, give users some basic knowledge of financial markets, and make it easy to view your portfolio. The cost of the initial deposit is usually very affordable too, with Acorns starting at $5, Clink starting at $1, and Stash starting at just 1 cent. On top of that, the subscription fees are also very affordable, usually only costing users a few

Determine which organization you want to give back to. There are a few components to this. First, you need to decide what kinds of conservation are most important to you. If you are passionate about water safety and protection, you may want to consider groups that focus on protecting our waterways. Lifelong farmers may consider donating to environmentally conscious agriculture groups, while hunters may choose organizations that are dedicated to sustaining wildlife. Vet the group you choose. Wherever you choose to donate to, just make sure you know how your donation will be used. Some organizations

Kind Words FROM OUR CLIENTS

dollars every month.

Cons As affordable as those monthly fees are, they can easily lead to a less-than-favorable expense ratio. For example, say you invested $100 in a mutual fund with a 1% expense ratio, which would amount to a dollar per year. If you invest with Acorns or Stash, you’re paying at least $12 per year because of the flat $1 per month fee. That’s a 12% expense ratio, which is not great. And at the end of the day, micro-investing might be easy, but the fees and minimal investment amounts lead to mere micro-gains. So, if you’re looking for a way to familiarize yourself with the market and figure out how it works, micro-investment apps might be a good place to start. However, if you want to retire on your investments one day, then it might be best to invest somewhere that will net higher returns.

Online reviews are one of the best ways for you to help us help others! We would greatly appreciate it if you could leave us a review on Google or Facebook if our team has helped you in anyway.

For inspiration, take a look at what Carolyn had to say!

“Attorney Anderson and her staff are amazing! They helped our family work through some really tough decisions when my mom got sick. They have continued to help us with navigating the planning that elder care involves.” -Carolyn S.

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DOES YOUR FAMILY KNOW WHAT TO DO WITH YOUR ESTATE PLAN? Creating an estate plan preserves the legacy you built and provides peace of mind for your family after you pass. An estate plan is one of the best ways you can comfort and protect your family during their time of grief, but unless you can guarantee that your loved ones understand your wishes, it may be more harmful to your legacy than you realize. April is Financial Literacy Month, and sadly, many of us could use a few lessons in basic financial principles. According to a 2018 study by the FINRA Investor Education Foundation, only 34% of Americans could correctly answer basic economic and personal finance questions, and less than one-third of adults understood basic financial literacy by the age of 40. Do you believe your heirs are financially equipped to manage your assets, run your business, or properly allocate the funds you provide for them after you pass? You may want to believe the answer is yes, but unless you have done the following two things, you cannot guarantee that. 1. Educate Them You don’t have to be an expert, but you should provide your loved ones with a basic understanding of the aspects included in your estate plan. This includes outlining the difference between your will and a trust, explaining what your powers of attorney are for, and detailing any special provisions you have in your estate plan. And you don’t have to do this alone! Just ask our team for guidance, and we can help. 2. Explain Your Expectations Avoid surprises or uncertainty by discussing your wishes with your loved ones. Explain your expectations to your heirs and your will’s executor. Outline what provisions you have put in place and where certain items will go. Be sure to update your loved ones as this changes, too. You will have more security by both documenting your wishes in your estate plan and talking with your loved ones about what you want. Creating an estate plan is just one component of preparing for your family’s future. The other aspect is ensuring that your loved ones know how to apply the wishes you have outlined in your estate plan. If we can assist you in explaining this to your family, or if these conversations spark changes, please call us at the number on the bottom of this page.

HOW YOU CAN GIVE BACK TO CONSERVATION GROUPS WITH YOUR ESTATE PLAN

are not completely transparent, so verify the charity you choose by visiting CharityNavigator.com or checking with the Better Business Bureau. It’s also beneficial to discuss

your decision with the organization you choose, too. This allows you to outline your wishes for your donation and personalizes your commitment.

Decide what you want to give. There are a few ways your legacy can benefit

conservation groups. You could donate your land or tools to an organization in need of space or materials. This is much more common than you may think. Other donors will choose to set up charitable trusts. Disbursement can happen while you’re still alive and can continue after you pass. It’s a viable way to help your favorite conservation group continue to benefit others. Regardless of where you choose to donate and what you choose to give, you must consult with an estate planning attorney to ensure that your wishes (outlined in an estate plan) are legally compliant. Call us today if you would like to add this into your estate plan.

Spring Vegetable and Chicken Pasta Bake

Inspired by TheSeasonedMom.com

Ingredients

• 1/2 cup fresh chives, chopped and divided • 1/4 cup fresh parsley, chopped and divided • 2 tsp minced garlic • 1/4 tsp salt • 1/4 cup grated Parmesan cheese, divided

• 1 cup cooked chicken, diced • 1 14-oz can artichokes, drained and quartered • 1 cup fresh asparagus pieces • 1/2 cup carrots, grated • 1 1/2 cups uncooked penne pasta • 1 3/4 cups chicken broth

Directions

1. Preheat oven to 425 F and grease an 8-inch square baking dish with cooking spray. 2. In the prepared dish, stir together cooked chicken, artichokes, asparagus, carrots, uncooked pasta, chicken broth, half the chives, half the parsley, garlic, salt, and 2 tbsp Parmesan. 3. Cover the dish tightly with foil and bake for 35 minutes. 4. Uncover and stir. At this point, check the pasta to make sure it is al dente. If it’s undercooked, cover the dish and return to the oven until pasta is tender. 5. Remove from oven and garnish with remaining Parmesan, chives, and parsley.

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340 N. Main St., Suite 103 Butler, PA 16001 724.256.8850 www.TrinityElderLaw.com

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INSIDE This Issue

What I’ve Learned About Fighting Cancer From My Dad and My Clients

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The Pros and Cons of Micro-Investing Help Preserve Pennsylvania With Your Estate Plan Spring Vegetable and Chicken Pasta Bake Financial Illiteracy May Damage the Efficacy of Your Estate Plan The Fyre Festival’s Legal Fallout for Influencers

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Up in Flames THE FYRE FESTIVAL’S LEGAL FALLOUT FOR INFLUENCERS

transfers” between the founders and many of the event’s promoters, and he began to sue the celebrities and influencers that drove the hype behind the festival. For example, McFarland and Ja Rule reportedly paid Kendall Jenner over $275,000 to publish an Instagram post promoting the festival. Although Jenner denied liability, she did not disclose on the post that it was paid and sponsored. Messer’s attorney further argued that Jenner had not told her Instagram followers that she’d pulled out of the festival after learning of its disastrous problems. Although more legal parameters will likely spring up in the future to further define the limits of influencer marketing, this will certainly make any celebrity think twice about accepting money to promote events and brands. And that’s definitely for the best!

close to a year,” says Chris Smith, who directed a Netflix documentary

Influencer marketing has long been a legal gray area, but recently settled celebrity lawsuits related to the Fyre Festival — a failed luxury musical festival — have definitely added some color to the debate. The idea for the Fyre Festival came from rapper Ja Rule and his business partner Billy McFarland, a 25-year-old CEO of a luxury concierge service. The duo created the event together and touted it as the world’s most expensive music festival. They’d also launched an attractive marketing campaign which included celebrity promotions by Kendall Jenner, Bella Hadid, and other influencers. All the while, the organizers knew the Fyre Festival was doomed from the start. In lieu of a multi-day, luxury experience, thousands of people were scammed and left stranded in the Bahamas instead. “[The organizers] had six to eight weeks to pull off something that should have taken

on the festival. “But what was most surprising to me was going to the Bahamas and seeing the aftermath of what was left behind and the effect on the people there.” The local economy was devastated. “They had engaged with so much of the local community to try and pull this off. There were hundreds of day laborers working,” says Smith. “Fyre had such a high profile that I don’t think anyone could have assumed that it wouldn’t work out.” As the Fyre Festival fell apart, Gregory Messer — the trustee in charge of overseeing the bankruptcy for Fyre Media — looked into the finances. He began to suspect that there had been “fraudulent

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