And the Oscar Goes To.....The Descendants (2011)

And the Oscar Goes To......The Descendants

By Melinda Gustafson Gervasi

March 10, 2023

Nominated for five Oscars during the 84th Academy Awards, The Descendants won for best-adapted screenplay, thrusting a movie about estate planning into the mainstream.  Based on the 2007 novel by Kaui Hart Hemmings the story follows Hawaiian attorney Matthew King and his daughters' journey following the traumatic brain-injury suffered by his wife in a boating accident.  While the majority of the movie explores the emotions and workings of end-of-life decisions, removing medical support, and processing grief, there is a sub-plot; one involving a land trust.

King, and a host of his cousins, are descendants of Hawaiian Roylaty.  He is the sole trustee of a land trust holding hunderds of untouched land on Kauai.  Under the Rule Against Purpetuities, the trust must end in 7 years.  Rather than have the trust end and the land distributed in shares to an assortment of descendants, the family plans to sell the land while it is in the trust, setting up a distribution of hundreds of millions of dollars in cash rather than land.  Matthew is the sole trustee and the ultimate decision of which developer to sell to is his and his alone.  Without giving away the end, I will say that Matthew's ultimate decision is not well-received by this cousins.  One cousin, Hugh, played by Beau Bridges, lashes out saying something to the extent of "you may be a lawyer and our cousin, but don't think we won't come after you!"

This line hit me with a lot of emotion; while I am an estate planning and probate attorney, I am also a mother. Taking care of our families is often a primary motivation for creating an estate plan in the first place.  As such, it is important to think about whether nominating a family member in an administrative role is wise.

In the story, Matthew explains that he has always lived off of his lawyer salary, while other cousins made risky decisions and are desparate for money.  It is not uncommon for heirs to have inflated expectations about an inheritance.  When those expectations are not met with the reality of the situation, the heirs may lash out at the one person in control.  In this case it is their cousin Matthew. Many people's default answer to who should be a trustee is a trusted family member.  However, naming a financial instution may have many benefits.  One of which would be preservation of family harmony.  Going after the "banker" is far different than alienting your cousin.

Thank you for reading.  Remember that a blog is not legal advice, but rather a way to spark discussion and reflection.  It is best for you to seek counsel from an attorney in your state of residence for help with your estate planning needs. 

A Final Note: An Estate Planning Love Letter

A Final Note: An Estate Planning Love Letter

By Melinda Gustafson Gervasi

February 14, 2023

Happy Valentine's Day!  Today we pause to send messages of love and affection to our soul mates as well as treasured family and friends.  According to Britannica, the custom of sending missives of love and affection dates back to the 1500s.  The first commercially produced Valentines began to hit store shelves in the 1800s.  Today we can purchase them in bulk at our grocery store, send electronic cards via Hallmark, or post a gif on our social media tagging our beloveds.  Time has changed the medium, but the expression of love remains. 

On this day set aside for love, it is with fond memory I recall reading a letter a client had written to their spouse.  It was to be a final letter, and in my mind, a love letter for the ages.  The words were not dripping with love and passion, but were a pragmatic list of items the reader would need to address when the author had passed.  From where I sit at my estate planning and probate desk, I know how meaningful and loving a letter can be that addresses the daily ins and outs of life.  For example:

• the age of household appliances and the quirks of getting them to work;
• instructions on how to drain the backyard pond along with a notation to insert a blank of wood for the critters to crawl to safety;
• an itemized list of professional and or hobby equipment that is valuable and should be sold, by whom, or what should be donated and where; and
• details on the maintenance of a car, boat or other forms of transport.

These are just a few ideas.  What elements of your life might benefit from being written down and left behind for your loved ones.  Perhaps slipping some of those candy hearts into the envelope might be a touching gesture as well.

Image by M. Gustafson Gervasi, 2023

Thanks for reading.  Remember that a blog is not a substitute for an attorney; it is intended to spark thoughts and conversations.  It is best to seek counsel from a licensed attorney in your home state.

Write It Down: Elevating Your Estate Plan

Write It Down: Elevating Your Estate Plan

By Melinda Gustafson Gervasi

January 31, 2023

The month of January coincides with a fresh start for many people.  Whether it be joining a new gym to going "dry" by not drinking any alcohol for the month to finally getting your estate plan drafted (or updated), many of us resolve to improve our condition at the start of a new calendar year.  For those of you focused on creating or improving your estate plan, I suggest the following quote as a guiding light:

“Paper is to write things down that we need to remember. Our brains are used to think.”  ― Albert Einstein

Specifically, when managing your powers of attorney consider making a list of each person or entity that you provided a copy of the form to.  For example, my power of attorney for health care is on file with: my hospital, my primary care doctor's office, my spouse, and each of my alternate agents.  Rather than remember this list, I have a notation in my estate planning binder.  This will aid me down the road when I update my document to make certain the updated form is given to all of the same entities and ensure the old form is shredded or properly negated. 

American productivity consultant David Allen summarizes it best with the following quote;

“Your mind is for having ideas, not holding them.” ― David Allen

Thank you for reading.  Remember, a blog post is not indicated to convey legal advice but rather to cause thought and reflection.  It is best to consult with a lawyer in your home state for advice specific to your unique situation. 

Tidying Up -- Subtle Tips for Improving Your Estate Plan

Tidying Up -- Subtle Tips for Improving Your Estate Plan

By Melinda Gustafson Gervasi

January 17, 2023

Mid-January in my home means it is time to take the Christmas tree down (we use an artificial tree because I am severely allergic to real Christmas trees).  As the twinkle lights come down and the furniture is restored back to its normal position in the living room, I use this time to tend to my estate plan in three subtle ways:

1. I print out a hard copy of my holiday card mailing list with the thinking that "if I care enough about this person to mail a holiday card, I want the address easily accessible should the person need to learn of my illness or passing".  The print out is kept with my estate planning binder.  It's never more than a year out of date; 
2. I purge holiday décor that is broken, went unused, or no longer brings us joy.  My 17 years as an estate planning and probate attorney make me aware that one day I will either move or die.  One way or another the closet that holds all of our holiday decorations will need to be packed up.  This motivates me to keep what we treasure, and the rest can be donated, gifted, or recycled.  Doing this annually is a gift to my future self, and one day my loved ones; and
3. I organize my recipes.  The holiday dinner table is a wonderful way to honor and recognize your late loved ones by serving a favorite dish.  Sadly, those foods may not be easy to replicate if the recipes were never written down, were tossed when the kitchen contents were quickly purged following an untimely death, or the ink on the recipe card is faded beyond recognition.  Sadly a Swedish cookie recipe of my mother's has faded beyond comprehension and the Sicilian rice ball recipe of my husband's late aunt died with her as it was never written down.  

An estate plan is much more than a will and powers of attorney.  It is the practice of tidying up your life so that those precious and dear mementos or practices can easily be shared with the loved ones who carry on after you are gone.

Book Review: Inheriting Clutter: How to Calm the Chaos Your Parents Leave Behind by Julie Hall

 

Book Review: Inheriting Clutter: How to Calm the Chaos Your Parents Leave Behind by Julie Hall

January 12, 2022

By Melinda Gustafson Gervasi

My rating: 3 out of 5 stars

Julie Hall's book, Inheriting Clutter: How to Calm the Chaos Your Parents Leave Behind, consists of 16 chapters along with several resources in the appendix.   From the book's title, I anticipated a more narrowly focused discussion of how to handle the physical "stuff" that makes up an estate.  However, Hall spent significant time exploring more general estate planning and probate concepts: what is a will, how powers of attorney work, what is probate, etc.  

Overall, the book provides the reader with some excellent suggestions on how to locate and secure a qualified appraiser for personal possessions, options for distributing tangible property from an estate, and where to look for hidden money of valuables in a home (i.e. check inside all the shoes).  The appendices offer some useful questions and forms as well for those faced with the daunting task of administering an estate.

As a estate planning and probate attorney of 15+ years I did find the book to make several unsettling assumptions.  One, the assumption that "families" are comprised of a mom, dad, several children, all of whom are on good terms and have a family home.  That is a minority of households in modern day America.  Two, the assumption that the adult child should be in the driver's seat of his or her parents' estate plan.  In reality, the parent is the client and the one making the decisions even if an adult child disagrees.  And lastly, third the book does not speak enough to the situations in which a "family" has dysfunction, blended families, estrangements, or no marriages or children.

Sample Letter to your Personal Representative

Sample Letter to your Personal Representative

By Melinda Gustafson Gervasi

December 1, 2021

Ireland Window.  Image by M. Gustafson Gervasi, 2021

Samples are back !?! was the first thought that passed through my mind this past weekend when my spouse and I stopped at the westside Woodman's Liquor Store to select a few bottles for the upcoming holiday season.  Yes, samples at the liquor store, Johnnie Walker Double Black to be exact -- that is how we role here in Wisconsin. It felt a bit like the before-pandemic times and reminded me that samples of my work can be fun for my readers as well.  So today I share with you a sample of a document I provide to all of my current clients.  It provides suggestions for composing a letter of instruction to the personal representative (called an executor in other states). 

Sample Letter to the Personal Representative

Providing instructions to your Personal Representative (a.k.a Executor in other states) will increase the accuracy and efficiency of processing your final affairs. The following are topics you may wish to provide instruction, wishes, or other details to aid your PR.

Personal Data: the following information may be helpful to your PR as they handle your final affairs:

• dates of: birth, marriage(s), divorce(s), death of spouse/partner

• Social Security Number

• Religious affiliation, name and contact of spiritual advisor

• Educational achievements, degrees held, honors earned

• family tree with names, locations, dates of birth and death

People: provide current contact information (address, cell phone, email) for the people in your life that should be notified in general as well as though who may be able to assist your PR. Specifically:

• relatives and close family friends

• person(s) with a spare key to your home, office, vehicle

• childcare providers, school office, children’s extracurricular programs

• pet sitter, veterinarian, animal boarding facility

• housekeeping, lawn company, snow removal team

• employer, co-workers, business associates

• accountant, financial planner, insurance agent, banker

Pets: list information that will assist in the daily care and re-homing of your pet(s). For example:

• type of food and source (online delivery, prescription, etc), frequency of feeding, etc

• medical treatments

• groomer

• allergies or summary of health issues

• who can take emergency care of the animal(s)

• suggestions for long-term or permanent placement of the animal(s)

Professional duties: what information will help your PR address professional duties that need to be resolved.

• contact information for all organizations that have issued you a professional license or other authority (lawyers, doctors, pharmacist, educator, dentist, accountant, etc.)

• list of professional insurances you carry (malpractice for example)

• information on location of banking or financial assets associated with your professional role

• list of membership or accounts associated with your professional duties (Linked In, Google +, Twitter, Facebook, etc.)

Assets: The job of your PR will be to gather all of your assets and determine if the asset is “probate”, meaning it has no co-owner or named beneficiary allowing your will to distribute the asset, or if it is a “non-probate”asset, which is an asset that will pass directly to the named beneficiary. It is wise to have the location and contact information for the assets you may own:

• Checking account(s)

• Saving account(s)

• Money Market accounts

• Certificate of Deposits

• Life Insurance policy

• Disability Insurance if it has a death benefit

• Digital currency and where it is held

• Business formation documents, such as LLC, LLP or S-Corp agreements

• Brokerage Accounts

• Retirement Accounts (IRA, 401K, etc)

• Pensions plans with a death benefit

• Deeds to your home, cabin, farm, etc.

• Title to your vehicle(s) and or boats

• Long-term care insurance with a death benefit

• Custodial or UTMA accounts set up by you for minor children

• 529 plans or other college specific saving vehicles

• Royalties for published works

• Health Savings Accounts

• Stocks

• Savings Bonds

• Valuable hobby or professional equipment

• Contents of a safe deposit box (i.e. valuable coin collection)

Liabilities: Your PR will also need to locate and notify each liability you maintain. It is wise to keep documentation and contact information for:

• mortgage

• vehicle loans

• student loans

• credit card debt

• home equity line of credit

• loans against retirement accounts

• personal loans

Thank you for reading.  Remember, a blog is NOT a lawyer nor is it legal advice.  This post is meant to spark conversation, discussion and reflection.  Please consult with a licensed attorney in your state of residence for advice specific to your situation.  Thank you and be well.

Book Review -- From Here to Eternity: Traveling the World to Find the Good Death by Caitlin Doughty

Book Review -- From Here to Eternity: Traveling the World to Find the Good Death by Caitlin Doughty

By Melinda Gustafson Gervasi

November 5, 2021

Keeping with the ghoulish nature of the past week, Halloween and Day of the Dead, I picked up Caitlin Doughty's book, From Here to Eternity: Traveling the World to Find the Good Death.  Published in 2018 the book chronicles her travels around the globe to experience death rituals different from those commonly practiced here in the US and Western Europe.  The reader travels with the author to Mexico, Japan, Bolivia, Indonesia, Spain and other destinations.  

Without question this book is a macabre read.  Some of the practices explored, such as decomposition of the human body in a literal compost heap are intriguing to those interest in a low carbon end to their earthly time.  However, other experiences may be more challenging to read about.  For example, the "ma'nene' " in Tana Toraja, Indonesia where relatives have an annual visit with a mummified loved one, was unsettling for me as a reader.  

Overall I would rate this book a 3 out of 5.  Lack of practicality for many of these ancient practices stuck out to me.  Also, it is a sad but true fact that many families contain a rate of dysfunction or unhealthy relationships where the intimacy of washing a corpse would be impractical if not traumatic for the survivors.  Doughty's prose are easy to read and vivid.  For anyone interested in an anthropological exploration of death and funerals, this book would be an excellent investment of time.