10/25/2019 – MLG Five Fact Friday
Everybody, it’s Victor Medina, and welcome back to another Five Fact Friday. Listen, before I get into the links for this week, I wanna share some upcoming things, and also something that I went on a trip that I had a lot of fun with. So first thing is that we actually have a seminar coming up next Tuesday, October 29th at Rider University. And we’re gonna be covering all the things that you should know about when it comes to wills and trusts, and making sure that you have a great estate plan. Now the seminar’s 100% free. We are gonna be serving some cookies and some coffee. So if you’d like to attend, what you can do is reply to this video, and then let us know that you’re interested, and we can put you on the list. Now space is filling up. We’ve got about 25 to 30 registrants, and the room only holds about 40. So if you are interested, I’m gonna encourage you to respond to this as soon as possible, and let us know that you’d like to join us Tuesday, October 29th at Rider University at 6:30 p.m. for a free seminar talking about wills and trusts. Now again, before I get to the links, I actually had an opportunity to go to Indianapolis and have a lot of fun. First, I was struck that most of the city is covered by skywalks. So if you wanted to get from one side of the city to the other side, you can actually do it without going outside. But that wasn’t enough fun for me. It’s one of those cities in which they have scooters available for you to rent. So I got one, and I was on something called a Bird, and I tooled around the city having a lot of fun. And they actually have some of these lanes that are dedicated for people like me that are riding scooters. Well, actually it’s probably dedicated for people that are walking, and I kinda just weaved my way in and out of it. So it was a ton of fun, and I always like the opportunity to visit a new city, check out whether they have those electric scooters, and then rent one just to explore the city a little bit more. All right, let’s get to the links for this week. The first thing that I wanna share with you is that coming up is Halloween. I know my kids are already thinking about what costumes they’re gonna have. My youngest is gonna be Shazam. And so they’re gonna be having a lot of fun, and we’re gonna be welcoming a lot of people to our house ’cause we happen to be on a main street where a lot of people come and visit. But one of the things you might not know, is that there are kids who like to trick or treat, both young and old, but they have autism. And one of the things that they’re doing is using a blue basket, so that if you see somebody, especially someone that looks like they may be too old to go trick or treating, that you go ahead and welcome them anyway because they’re probably somebody that has some of the issues related to autism, and they still just want to enjoy Halloween. So you can recognize them by their blue buckets. The next link that I wanna share with you is a funny video. Really, I mean, it would be surprising to think about it, it being funny, but it’s from somebody that was diagnosed with cancer. Now, I have a little bit of this in my own life, and I’ll tell ya, it is always very refreshing to get a new perspective on it. So the link is a video by somebody who was diagnosed with this, and how to deal with it. So I hope you enjoy that. The next link is about something on my homescreen, and it’s really not about that, but you know, there are more and more things trying to take up space on your tablet and on your phone screen. And all of these have to do with new subscriptions. So we’ve got the Apple TV+ that’s coming out, Disney+ is coming out in early November, and then there has been Netflix and Hulu. And so what do you do with all of these subscriptions? So this link will help you manage all of those, and I think you’re gonna like it. By the way, for me, I’m a big fan of everything that Disney has to offer, and I’m really excited that their service is going to include everything that’s Marvel, Pixel, Star Wars. In fact, they just released that new Star Wars trailer, and I’ve already got my tickets for December. The last two links have to do with things in legal and retirement. The one on retirement is just talking about how your retirement may be different than your parents’ retirement. And so you might wanna read how it’s going to differ, because there’s gonna be different things that you’re going to have to do with your planning. And then finally, and this one is important so do pay attention to this. There’s been the Secure Act that’s passed. Now the Secure Act was passed by the House, and what it does is change some of the rules about how you contribute to and take money out of your 401 and IRA. It move the limits for your required minimum distribution up to age 72. But it does something on the backend that not a lot of people know about being in the law, and that they need to do something to prepare for, which is it eliminates the ability to stretch out an IRA when you leave it behind to your kids. This has been a big planning thing where people have been trying to leave large IRAs to the next generation as part of their retirement, so they can continue to defer the vast majority of the growth, and stretch out that inheritance over their life expectancy. Well, with the new law we would be forced to take that money out and pay the taxes out over five years. So one of the things that was signaled, was that the Senate was going to take up this bill, and fairly quickly, so they would have to pass a version of it, and then they’d have to marry the two versions and then go ahead and come out with what is gonna be the final version of the law. Here’s what’s important for you. If you have a large IRA, or if you were planning on passing that IRA to the next generation, you may wanna put time in your schedule to come and see us to talk about what to do with that specific IRA. Because there’s probably some good tax planning that you should do while you’re still alive if they eliminate the ability to pass it as an inheritance and stretch it out. So we’ll be keeping an eye on that. If in fact they pass the law, we are going to host an immediate seminar in the next week or two, to educate you about what the law says and what you can do for planning. So keep an eye on this. And in fact, if this is a subject that you think interests people around you, do them a favor and forward this link to them so that they can join our newsletter. ‘Cause the moment that we offer that seminar, they can join us. So, hope you’ve been enjoying the link so far, and the five links for this week. Don’t forget, we have that seminar coming up next Tuesday. So if you’re interested in learning more about wills and trusts, and doing your estate planning, please join us on Tuesday, on October 29th at 6:30 p.m. at Rider University. Catch you in a couple of weeks. Have a good one, bye bye.
Five Fact Friday is a bi-weekly newsletter produced by Medina Law Group containing 5 interesting or fun links. For more information, visit medinalawgroup.com or call 609-818-0068.
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