Based On Faith

WHAT IS A LAST WILL AND TESTAMENT?

Tue, 15 May 2012 02:56:26 +0000

When I meet new clients, one of the very first important tasks that I undertake is to educate them about Estate Planning. I believe that it is important to understand what certain terms mean as well as understand the differences between different types of Estate Planning. What I will focus on in this article is Estate Planning through a Last Will and Testament.

What is a Last Will and Testament? A Last Will and Testament very simply is an executed document which explains and outlines your final wishes. A couple of the important components of planning through a Last Will and Testament include appointing your Personal Representatives (primary and successor) and deciding who your beneficiaries will be.

One of the basic components of a Last Will and Testament include appointing and naming Personal Representatives. Traditionally, the office of Personal Representative has been called Executor. The terms are interchangeable. A Personal Representative is the Agent that you appoint to administer your Estate through the Probate Process when you pass away. It is important to appoint a primary agent here, but also successor agents that could step in and fulfill this role if the primary agent cannot or will not. There are many considerations to think about when making the decision about who you will appoint to fulfill this role. One of the common mistakes is to name someone because you do no want to hurt their feelings. This is an important role and carries a lot of responsibility. You should carefully consider this decision because the person or people who actually carry out the responsibilities of this role need to have the ability to manage such a task.

Another of the important components of planning through a Last Will and Testament is deciding who your beneficiaries will be. There are different ways of distributing assets to beneficiaries. You may list a specific distribution. This means that you have a specific item that you want to be distributed to a specific individual. These are typically listed first in the order of distributions. One of the extremely flexible ways that I allow for clients to list these items is in a Personal Property memorandum. This is considerably more efficient and flexible for my clients. This allows for them, at their leisure and over time, to list on the Memorandum any specific distributions that they want. The Memorandum is available as an incorporated part of the Last Will and Testament and may or may not be used. Some people may have many specific distributions. Some may have just a few. Others may not even use it.

Another way of distributing assets is through the Residuary Estate. This means that after all specific distributions are distributed to the named beneficiaries, then the rest, or remainder of the Estate is then assessed and this portion is called the Residuary Estate. If you are married, then you may wish for this to go all to your spouse. If your spouse has predeceased you, then you may wish to divide the Residuary Estate into equal or unequal shares for what I call final beneficiaries. These may be your children or grandchildren. They may be other relatives or friends. You may choose to name organizations such as your church or an educational institution. You will need to decide if the beneficiary is to receive a certain percentage or fraction of the Residuary Estate or if they are to receive a dollar amount. Unless you have a specific reason for leaving a certain dollar amount to a beneficiary, then my recommendation is to leave a percentage. Percentages are always attainable. Dollar amounts are sometimes not available and this will require more language to clarify what the Personal Representative is to do if you have less than the dollar amount in the Estate to distribute to the beneficiary.

You will want to decide how the distribution is to be distributed to the beneficiary. You can leave the distribution outright. You can leave it in trust for the beneficiary. This method is particularly useful and helpful for underage beneficiaries or special needs beneficiaries. You may want to consider this option if the beneficiary you select has difficulty managing their own affairs.

There are many more factors to think about when deciding on your beneficiaries as well as other components to planning through a Last Will and Testament, but I have named and explained a few of those components to consider. You should consult with a knowledgeable and competent Estate Planning attorney for more information and advise on these decisions. BASED ON FAITH.

Crystal G.H. Lowery, Esq is a Christian Estate Planning Attorney and is the owner and founding attorney of Law Office Of Crystal G.H. Lowery, LLC. Based on Faith is an organization intently dedicated to inspiring others through mind provoking truths, emphasizing the spiritual impact and necessity of proper Estate Planning.

ESTATE PLANNING WITH A PURPOSE: DECLARING THE END FROM THE BEGINNING

Tue, 06 Mar 2012 20:12:09 +0000

Isaiah 46:10-11 AMP – Declaring the end and the result from the beginning, and from ancient times the things that are not yet done, saying, My counsel shall stand, and I will do all My pleasure and purpose, Calling a ravenous bird from the east – the man [Cyrus] who executes My counsel from a far country. Yes, I have spoken, and I will bring it to pass; I have purposed it, and I will do it.

Proverbs 13:22 KJV – A good man leaveth an inheritance to his children’s children…

How many times have we all heard from experts and motivators in the area of success that we need goals? Countless, I am sure. This is such a simple concept, but more difficult to put in place. The intent of Isaiah 46:10-11 is that God knew what the end was before He created the beginning. Because He knew the goal, He could then begin and create the plan that would lead successfully to the end. THIS IS ESTATE PLANNING! It is that simple.

For practical purposes, this means that good Estate Planning will at least include the answers to this question in some form: What are your goals, not only through your life, but what are your wishes even further down the road? Proverbs 13:22 says that a good man leaves an inheritance to his children’s children – his grandchildren. I could write an article just about this verse in Proverbs 13, but for now, the point I am making is that good planning means that you will incorporate your goals about the end, the end far far down the line. Proverbs 13:22 emphasized that by adding successive generations to the planning. We are not just planning for ourselves or even our children, but we are even supposed to think about the future generations. That is the kind of thinking that God has called us to pursue. We are called to think and plan big. We have the ability to bless successive generations by our planning now!

Once we can think on a much grander scale, we have incorporated the intent of God for our lives. We can then know the end result we would like and then work backwards to the present. This will help us to put in place a plan to accomplish these goals. God did that type of planning. Isaiah 46:10-11 tells us that He put in place this type of planning. I particularly like the end of verse 10 that says “and I will do all My pleasure and purpose.” This is really exciting because it means that I can accomplish all my needs, but I can even accomplish my pleasures. These are just the goals that make me happy.

Isaiah 46:11 goes on to say, “Yes, I have spoken, and I will bring it to pass; I have purposed it, and I will do it.” This is the follow through. This is what allows the goals to be reached. The Bible teaches it clearly in this verse that if we have a clear goal, we then have overwhelmingly increased our ability to reach that goal. We hear this same advice from motivational speakers EVERY DAY. But, this is a truth found in the Bible. It is also very much a common sense concept.

We absolutely need to set goals. Once we do this, we will be able to create a plan of action, an Estate Plan, to help us memorialize that plan. Our goals may change over time, but we can amend those. If we don’t ever memorializeour goals with Estate Planning, we are not likely to go very far. The results will most likely be disappointing and the path to the results will be unclear. Instead, we should have clear, understandable goals that break through the box of traditional thinking. We should be putting those in place through Estate Planning. We should be excited about this because it will help us truly accomplish not only our needs, but the things that give us pleasure as well. BASED ON FAITH.

ESTATE PLANNING FOLLOWING THE EXAMPLE OF JESUS: APPOINTING GUARDIANS FOR THOSE WE LOVE

Fri, 02 Mar 2012 22:57:38 +0000

John 19: 25-27 AMP – But by the cross of Jesus stood His mother, His mother’s sister, Mary the [wife] of Clopas, and Mary Magdalene. So Jesus, seeing His mother and the disciple whom He loved standing near, said to His mother, [Dear] woman, See, [here is] your son! Then he said to the disciple, See [here is] your mother! And from that hour, the disciple took her into his own [keeping, own home].

Estate Planning is not only just to make sure that your assets are distributed properly, as some mistakenly believe. Estate Planning is far more than that. One of the very important tasks of Estate Planning is making sure that the people that you love and that are dependent upon you are provided for in many ways. What people think about most of the time is providing for those you love and are dependent upon you with assets or an inheritance. This is most certainly an important way to provide for them. However, another provision that is equally important is to have someone appointed to care for them. The name of this type of agent varies depending on who is being cared for and their age.

It is extremely important if you have minor children to name guardians for them in case you are either incapacitated or upon your death. I advise my clients to appoint guardians for their children, keeping in mind many factors. Some of the factors are as follows:

Are the children in public, private, or home school? Do the children have any special needs or requirements? Do the children have any health concerns? Do the children have any behavioral issues? Where do the children live? Where do the guardians live? Is this a great distance? Would the move disrupt the lives of the children? Do the guardians have children of their own? Is there space and accommodations for the children in the home of the guardian? Do the guardians have the same faith as you? Do the guardians believe in disciplining children as you do? What are the moral standards of the guardians?

These are just some of the factors to think about when choosing a guardian for your minor children. As I always tell my clients, you are planning for possibilities and hypotheticals. This is one of the most difficult decisions that a parent can make. It is truly heart wrenching to think about. However, it must be made. If you do not plan for this the consequences are sometimes not what you would intend to happen. Among the unintended consequences of not planning could include guardians that you would not want to be appointed for your children, children could possibly be separated, DSS (Department of Social Services) could become involved, etc. If, in reality, guardians were actually needed for your minor children, the trauma of your incapacity or death is enough, but the trauma of unintended consequences is even greater.

In addition to guardians, I also advise my clients to appoint Health Care Agents for their minor children. This is more important than you might think. Here is an example of a situation where appointing Health Care Agents for your children is important. If, as I know parents do, take a weekend trip and leave children with grandparents or aunts and uncles, then those individuals need to be appointed as Health Care Agents for the children. In the absence of the parents or the inability to reach the parents, the Health Care Agents will be able to make crucial decisions for the children, if the need arises.

It is important to plan not only for minor children, but for others you love and depend on you as well. If you are married, does your spouse need help with certain tasks that are essential to living well. For example, does your spouse need help with keeping financial matters in order? Does your spouse need help with home maintenance? Would they better be protected by living with someone else or by someone else coming to live with them?

The issue of planning for the people we love extends far from leaving them an inheritance. It also includes providing and appointing other people to help them with much needed support roles. In John 19:25-17, one of the last tasks Jesus did before giving up his spirit was to make sure that his mother was cared for after he was gone. Jesus appointed John, the disciple he loved, to care for his mother. Verse 27 says that John then took Mary into his own home and kept her and cared for her from that time on. Jesus’ work was not finished until he had taken care of this Estate Planning task. It truly was the last piece of business he took care of before taking a drink and then giving up his spirit.

As Christians, we are always striving to be like Christ and to live like Christ. One of the ways we can do that is by following Christ’s example and planning ahead. He did not leave his planning up to the miraculous, but instead used his time and appointing skills to put his wishes into effect. We must do the same and make our wishes known in our Estate Planningso that they will be legally executed and effective. BASED ON FAITH.

WHERE ARE YOU NOW AND WHERE DO YOU WANT TO GO?

Tue, 28 Feb 2012 00:34:00 +0000

Proverbs 27: 23 KJV – Be thou diligent to know the state of thy flocks, and look well to thy herds.

One of the most difficult aspects of planning for some people in getting started with their Estate Planning is knowing just exactly where they are now. Proper Estate Planning will accomplish wonderful things including a great plan for the future, but it will also organize you tremendously right now!

It is very important for you to understand where you are right now. You can’t do much without knowing that very well. Even if you do not ever take the time to create your own Estate Plan, you will fare much better in your daily activities and life by taking heed to the instruction in Proverbs 27: 23 KJV which says “Be thou diligent to know the state of thy flocks, and look well to thy herds.” What this is saying is that we need to know what we have, we need to understand the amounts of what we are overseeing, and we need to give what we are tending to our best attention and resources.

One definition of the word “diligent” is earnest and persistent application to an undertaking or attentive care. When we are attentively caring or creating earnest and persistent application to know the state of our flocks then we are complying with this instruction. Our flocks here really is our Estate. Our Estate is everything we own and are entrusted to. We must be diligent then to know the state of our real estate, our finances, our time, our health, our children, and our thoughts.

Without being diligent in knowing the state of our Estate, we cannot with any form of accurateness or precision be able to make plans for our Estate. It is nearly impossible. If plans are made without this application of diligence, then they have a high probability of failure. In addition, people who do not apply diligence to knowing the state of their Estate usually do not plan. Lack of planning has adverse consequences that usually are not welcomed by anyone.

The second part of the verse to instructs us to “look well to thy herds”. This means that after we know the state of our flocks, then we must look after them well. We must give them care and attention. We must allocate resources to insure their welfare. We must provide measures for their well being and their increase. In essence, for our purposes, this means that we must Plan! We must create an Estate Plan for all we have been given. We must be a good steward of what we have so that we can see that it is not only maintained, but that it flourishes.

We are instructed here to be good stewards of everything we have. We are doing ourselves a disservice by not knowing the state of our affairs and assets. We are most certainly destroying our future by not planning for it.

It may be overwhelming, but begin to follow the instructions in Proverbs 27:23 one step at a time. It is a process that actually will continue throughout your life. The rewards you will reap from Planning are in excess of the time and resources you will put into the process. BASED ON FAITH.

10 ESSENTIALS OF ESTATE PLANNING: A CHECKLIST OF THINGS TO THINK ABOUT WHEN PLANNING

Sat, 25 Feb 2012 18:42:32 +0000

It is extremely important to execute your Estate Plan. Before meeting with an Estate Planning Attorney, it is important to understand what Estate Planning is so that you can be better prepared. I have provided a checklist of some important concepts to think about and information you will need to gather:

1. You will need to gather your personal information such as birth dates for yourself, spouse and children. You will need to gather contact information such as addresses and phone numbers (cell, home, work) for yourself, spouse, and children (if applicable).

2. Be prepared to let your Estate Planning Attorney know what other advisors you work with such as CPA and Financial Advisor. It will be important for your Estate Planning Attorney to work closely with these other professionals as a team of trusted advisors for you.

3. You will need to know what assets you own. For example, do you own real estate, checking, savings, money markets, life insurance, or retirement accounts? If so, what institution are these accounts with and what are the account or policy numbers? For real estate, do you have a copy of the title? It will be important to let your Estate Planning Attorney know how these assets are titled and if applicable, how the beneficiaries are listed. You will also need to know an approximate value for each of the assets.

4. In the event you cannot make decisions for yourself because of either incapacity or death, who do you want to appoint to be your agent for the following roles: financial, health care, and guardian for minor children. You will need to list primary and successor agents. It will be important to know the contact information of these agents. I also advise discussing your wish to appoint these agents with the agents so that they will know you have appointed them. You should get their consent before appointing them. You do not want them to be surprised at some point in the future if or when the time comes they will need to act for you.

5. You will need to know how your assets are to be distributed upon your death. If you are married, does all go to your spouse? How are assets divided between children? Are the distributions equal? Do some beneficiaries need special protections either because they are not financially responsible or have special needs?

6. What alternative distributions would you like if a beneficiary has predeceased you?

7. Do you want any specific distributions?

8. Do you want distributions to non-individuals such as your church or charitable organization?

9. Do you have any odd or concerning issues with family? If you are married, is it a first or successive marriage? If it is a successive marriage, does your spouse have children that are not biologically yours?

10. You will need to make decisions about health care, such as organ donation, life sustaining treatment, and tube feeding.

This checklist certainly contains the basics of what you will need to think about and information to gather, but it is by all means not exhaustive. You will need to make sure that your Plan is suitable for your needs and goals. Everyone’s Estate Plan is different if done properly and you are unique. Don’t be roped into believing that your Planning is sufficient by filling your name in a blank form. This will most certainly not be Planning that addresses your needs. Estate Planning for some can be overwhelming, so start with the checklist I have provided. This will ease your feelings of anxiety. You will find that it is not so difficult if you tackle one issue at a time. The important thing is to get started. You don’t have to know all the answers when you begin. A good Estate Planning Attorney will walk you through the process and hold your hand through the entire process. You will find that with a good relationship with your Estate Planning Attorney, the planning is far easier for you than you imagined as your Attorney will carry the weight of the difficulties and make you feel at ease with the process. You will also have great peace of mind. Remember that once you execute your Planning, you want to make sure that in most cases you can change your mind later, so ask about revocable planning. This way, you can make changes that you need to make throughout your life as your decisions change, your family changes, and your goals change.BASED ON FAITH.

WHAT HAPPENS IF YOU DON’T PLAN – FEAR OF MORTALITY AND INTESTACY LAWS

Thu, 23 Feb 2012 15:38:17 +0000

II Corinthians 5:8 AMP – [Yes] we have confident and hopeful courage and are pleased to be away from home out of the body and be at home with the Lord.

If you do not plan, then you do still have an Estate Plan, but it may not be what you intended. In this context, not planning, means not having your own Estate Plan. To simplify the concept, this means that you die without a Last Will and Testament of your own. The majority of people fall into this category. This may sound quite shocking, and to me it is.

There are many reasons that people do not plan ranging from procrastination to fear of their own mortality. As Christians, we do not need to fear this, because we know that according to II Corinthians 5:8 AMP that once we die or are “away from home out of the body” we are “at home with the Lord.” Once we think of death as what it is without fear attached to it, then we can have peace and plan for it and for those we love. We can then consider our Estate Plan an act of good stewardship for what we have been entrusted during our lives.

When someone dies without a Last Will and Testament, we use the term Intestate. This is an unusual term and all it means for our purposes is that the decedent did not have a Last Will and Testament. If someone dies without leaving their wishes in a valid format, then Intestacy laws will govern the process of conveying assets of the decedent to beneficiaries. Each state has Intestacy laws so the process and laws will vary.

One of the decisions that a person makes and documents in a Last Will and Testament is who the Agent will be that administers the Estate. We typically call this Agent a Personal Representative, but historically it has been called an Executor. This is the person who represents the Estate and makes sure, among other duties, that ultimately the Estate’s assets are distributed properly to correct beneficiaries. Another decision that a person makes and documents in a Last Will and Testament is who the beneficiaries are and in what percentages they will receive assets. These are just a few of the decisions that are documented in a Last Will and Testament.

When a person dies without a Last Will and Testament, we cannot legally determine what the decedent’s wishes were. Therefore, the state’s Intestacy laws will govern the process. The decisions will then be made by following the Intestacy laws in that particular state. There is no guarantee that the person you wished to be the Agent will actually end up serving in that position. There is no guarantee that the beneficiaries you had intended to have your assets will receive the assets.

When a person does not plan and there is an Intestate Estate, the Estate will also go through the probate process. An oversimplification of what Probate means is that the Probate Court will step in to oversee the process of administering the Estate with a set timeline and processes and procedures to standardize the transfer of Estate assets to beneficiaries. Probate is, in South Carolina, about a year long process at a minimum. The Court will assess fees which the Estate pays depending on the amount and value of assets in the Estate. The Estate will then become part of the public record. The Agent or Personal Representative in many cases will engage a Probate Attorney to represent the Personal Representative during the Probate process. Probate can be a lot of work for the Personal Representative and a source of frustration depending on their level of understanding. For many people with already busy and hectic lives, this extra job is not something that practically makes sense even though they feel a duty to serve in the capacity.

Not planning can also create confusion as well. In my experience, in Intestacy Estates, the Personal Representative will in many cases have a much more difficult task in identifying what assets are actually part of the Estate. For example, what bank accounts did the decedent own and what investments did the decedent own? The Personal Representative will have to act as a detective and find out what obligations are outstanding and if there are any uncollected debts. Did the decedent own life insurance? What are all the account numbers and policy numbers? This is challenging enough to keep track of and organize for one’s own affairs. The reality is that it is extremely challenging and frustrating for a Personal Representative to have to go through a decedent’s home, filing cabinets, closets, and drawers to search for this information, compile it, organize it, and eventually hopefully make sense of it. The likelihood of this task being an overwhelming burden is far more likely in an Intestate Estate because the decedent did not plan ahead.

If you do not plan, then in all actuality, you do have a plan, but if is not your own. The decisions that you have a right to make will be determined by others. The assets that you have worked a lifetime to accumulate will be distributed, but to those beneficiaries that are determined appropriate according to Intestacy laws. There are also sometimes large fees associated with Probate and hiring a Probate Attorney to assist with the process.

There are many more issues relating to Intestacy that are not covered in this article. Just the basics are included here which are extremely important to understand.

As a Christian, you should not be afraid to plan, but consider Estate Planning part of your stewardship. Intestacy (having no plan of your own) can be avoided by even simple planning. Having at least a basic Last Will and Testament will avoid Intestacy laws from governing your Estate’s administration. Procrastination will almost certainly lead to an Intestacy situation. Take time to think about what you want now while you are thinking clearly. Start with what you know and put it in place. You can always change your mind later as your life changes, as your family changes, and as your goals and desires change over time. There is a terrific peace of mind in knowing that you have your wishes documented and executed legally. You will have peace of mind and those you love will also share that peace of mind. BASED ON FAITH.

THE LAW OF LOVE: A KEY TO SUCCESS

Wed, 15 Feb 2012 16:42:25 +0000

John 15:12 KJV – This is my commandment, That ye love one another, as I have loved you.

I Corin. 13:1-8 AMP – If I [can] speak in the tongues of men and [even] of angels, but have not love (that reasoning, intentional, spiritual devotion such as is inspired by God’s love for and in us), I am only a noisy gong or a clanging cymbal. And if I have prophetic powers (the gift of interpreting the divine will and purpose), and understand all the secret truths and mysteries and possess all knowledge, and if I have [sufficient] faith so that I can remove mountains, but have not love (Gods love in me) I am nothing (a useless nobody). Even if I dole out all that I have [to the poor in providing] food, and if I surrender my body to be burned or in order that I may glory, but have not love (God’s love in me), I gain nothing. Love endures long and is patient and kind; love never is envious nor boils over with jealousy, is not boastful or vainglorious, does not display itself haughtily. It is not conceited (arrogant and inflated with pride); it is not rude (unmannerly) and does not act unbecomingly. Love (God’s love in us) does not insist on its own rights or its own way, for it is not self-seeking; it is not touchy or fretful or resentful; it takes no account of the evil done to it [it pays no attention to a suffered wrong]. It does not rejoice at injustice and unrighteousness, but rejoices when right and truth prevail. Love bears up under anything and everything that comes, is ever ready to believe the best of every person, its hopes are fadeless under all circumstances, and it endures everything [without weakening]. Love never fails [never fades out or becomes obsolete or comes to an end]. As for prophecy (the gift of interpreting the divine will and purpose), it will be fulfilled and pass away; as for tongues, they will be destroyed and cease; as for knowledge, it will pass away [it will lose its value and be superseded by truth].

I John 4:8 AMP – He who does not love has not become acquainted with God [does not and never did know Him], for God is love.

February is love month. Valentine’s day is a day for honoring, celebrating, and showing love to the ones you love. Valentine’s day is a day for symbolizing love through giving flowers, chocolates, jewelry, dinner, and other ways. This is just one day out of the year. We should be not only showing love, but actually loving others every day of the year according to John 15:12. This verse says that it is a commandment that we love each other. The word commandment does not mean it is suggested. It is a law. God is setting up a law for us to follow which is to love each other. This does not mean that we have to like everyone because we definitely will not. However, we still need to love them. In fact, I Corinthians 13 makes it clear that love is the foundation of all the other good things we are pursuing. For example, we can have all the faith in the world to expect a miracle, but if we do not have love, then we will not see results. Faith and all the other gifts of the Spirit will not work if we do not love. We have to focus on loving others.

There are four types of love identified by the Greeks and are categorized according to the motive. The first is Eros which is carnal and sexual and is really identified as pleasure of the flesh. The second is Philio which is identified as friendship. The third is Storge which is love in family. The fourth is Agape which is the divine love, unconditional love, and how God loves humanity. The love that we should be striving for is the Agape love. It is unconditional. This unconditional love is the same as how God loves us. We do not deserve God’s love and we would definitely not qualify for His love without his grace and mercy. Yet, he still loves us unconditionally and even sent Jesus, his ONLY son for us so that we could receive his grace and mercy.

If we decide that we don’t love someone because we don’t like what they do or that they get on our nerves, that is conditional. We are still commanded (remember it is a law) to love that person. This kind of love is not based on how we feel. It is a decision, not an emotion.

It is really self defeating to not obey the law to love because according to I Corinthians chapter 13, it is the basis for all the good things I need. My faith is futile without love. Even if I give to the poor, it means nothing if I do not love.

I Corinthians 13:8 says that Love never fails. It never fades out or becomes obsolete or comes to an end. Love will not fail us. Verse 7 says that Love bears up under anything and everything that comes. In its truest sense, Love is God because I John 4:8 AMP says “He who does not love has not become acquainted with God [does not and never did know Him], for God is love.” The law to love is really then commanding us to give God to others – to love others – because God is Love.

It is not always easy to obey this command, but it is a necessity for our good. If things aren’t lining up for you, if your faith doesn’t seem to be producing results, if your good actions don’t seem to have any return, then examine your obedience to loving others. This is a key that we often overlook. Instead of emphasizing love one day a year, we must love others every day!

PLANNING WITH GOD, NOT APART FROM GOD

Sun, 12 Feb 2012 17:58:21 +0000

Proverbs 14:12 KJV – There is a way which seemeth right unto a man, but the end thereof are the ways of death.

We have all been bombarded with invitations to financial and estate planning seminars and have seen an enormous amount of advertising for them. In the financial and estate planning world, we call these events “plate lickers” because usually you have to entice people to attend by having food. I have held seminars and even taught adult education classes with other professionals. Generally, these events and programs have a certain way of teaching the attendee to think about the planning. I was part of such a course as an instructor and in the course of taking notes, I really began to think about what was being taught. The class consisted of about 35 to 40 people, all of whom were nearing retirement or already retired. I saw fear in their eyes and they all wanted to learn as much as possible to avoid failure in their planning. Most of them were still working very hard and had just barely made it on time to the class after a long day of work and fighting through traffic to get there. I could tell that many had eaten their dinner in the car and felt rushed to even get to the classroom.

Most people do not even take the time to attend such a course. This one was not just one day, but many weeks long. They also paid quite a bit of money to attend. I had never even thought much beyond the teaching that was very mainstream in terms of financial advice and planning. As my heart became convicted about this, I began to take careful notes. It seemed that my eyes were blinded with glaring truth about the fallacy of the mainstream ideas that is sold to everyone out there desperately seeking advice. Not all of the advice is faulty, but the emphasis was very much off of the foundation on which it needed to be built.

Everyone has a plan. Turn on the news. We are in the middle of presidential primaries and all desperately waiting for a plan to save our future and make our present more bearable. So much time and energy is spent cranking out these plans and the means to get the plans to the masses or to their target audience.

In the end, none of these plans create total success and the means to achieve only partial success are faulty. They all lack one thing – they all severely lack God. Proverbs, 14:12 KJV says “There is a way which seemeth right unto man, but the end thereof are the ways of death.” How much more could we optimize success if we spent the same amount of time and energy with God than without God?

Honestly, the “professionals” that are teaching and advising are just as confused as those they are advising. Their businesses are struggling and their personal lives are chaotic. Yet, we are still told that we need their help and we pay thousands of dollars for advice we could probably come up with ourselves. Don’t misunderstand me, there are good advisors out there and they do try hard. Some even have good motives. However, what I am saying is that we can’t just take advice without examining it. The advice we listen to in these areas affects our lives in such an important way that we can’t afford to take such a chance. It is not wrong to work with an advisor, but if you do, keep God at the center of your decisions. Think about what you are being told. Is there fear in the advice. As Christians, we should not be making decisions out of fear.

We need to seriously shake things up in our thinking to avoid covetousness, which is a way of thinking that is a natural, carnal mindset that doesn’t include God. For example, have you ever been told that you need to go to school, study hard, make good grades, get into college, so you can get a good job to make a good salary? Christians even fall into the trap of thinking this way. I know I did. The point is that we have to get to the point where we know that we can do nothing without God. Our success is not by working hard, hoarding money, studying all hours of the day and night, or working around the clock. Just examine your life. Look at the lives of those around you. Trying hard is really a self centered view. We have to include God and know that we are totally 100% dependent on him for our success. This does not mean that we can be lazy. It means that our focus shifts and we rid ourselves of faulty mindsets. We have to renew our mind daily to do this. It has taken me years to filter through all of the faulty thinking and I am sure that I have more left to do.

We do need to take action, but we must act with God, not apart from God. Put God’s will above our own. In the end, our plan should be God’s plan. It will seem unconventional and that is because it is. But, go with it. It is the absolute only way you can be freed of fear and have total peace.

Entertainment Law: Turning Art Into Big Business

Sat, 11 Feb 2012 19:39:30 +0000

James 2:26 KJV – Faith without works is dead.

During the course of my Entertainment Law practice, one of the most common experiences for me as an attorney is consulting and advising an artist who is extremely talented, but doesn’t understand that the entertainment industry is an industry and it is big business! For artists who wish to launch out and pursue their lifelong dream of making it big, they must go into it with at least a minimal business mindset. You can’t just pray for success. You have to develop and plan and work your plan.
You don’t have to understand everything about business or the entertainment industry to launch your career, but you do need to recognize that it is a business. The more you know and understand about the entertainment industry, the better, but you can have a team of trusted advisors surrounding you that will help you strategize and make good decisions based on their collective expertise and your goals.
Some very easy and basic tips for new artists are:
You will be much more credible if you can start out with a good record of being reliable. This is very basic and good common sense, but showing up to meetings on time is a good start. Being a little early is even better. You will want to be organized. This is sometimes not a major attribute of artists, but the more organized you are, the better and more confident you will be. This will show to those you are working with and negotiating with. You want to appear to be trustworthy and reliable. You will have less negotiating power if you appear to be risky. Risk equals less money or no money. You need to understand your difference. There are so many people trying to make it in the entertainment industry. Some are very talented, but they haven’t made it and may never make it. The reality of “starving artist” is all too real in this industry. If you are going to make a go of it and really step out, know your difference. What differentiates you from other talented artists? Knowing the answer to this question will set you apart from the crowd and allow you to shine. Finally, take time to know what your goals are. Stay true to your goals and yourself and your values. Desperation will produce industry successes, but individual failures. Take note of the stories of famous artists who have individual demons they continue to battle. All the success in the world is not worth it for the daily struggle with these evil powers.
In summary, launching an entertainment career is definitely challenging, but not impossible. You will increase your chances of success by understanding that the entertainment industry is big business. Have people you trust surrounding you. Put in place good habits such as being on time and being organized to help you appear more reliable. Know your difference to help you stand out from the masses. Stay true to yourself and your values so that after a lifelong journey you can see the true success you have become.
If there is something you can do about your situation, then do it. Stop making excuses, stop procrastinating, and do it. As James 2:26 KJV says, “Faith without works is dead.” All the creativity in the world will not necessarily mean action for you. Make your career big business in entertainment and your personal success your life’s big business.

Preparing For And Winning The Big Game

Fri, 10 Feb 2012 17:28:15 +0000

2 Timothy 4:7 KJV – I have fought a good fight, have finished my course, I have kept the faith.

2 Timothy 4:7 AMP – I have fought the good (worthy, honorable, and noble) fight, I have finished the race, I have kept (firmly held) the faith.

The teams who are playing in the big games spend plenty of time strategizing and preparing for the big game, but private businesses and the fans do also. This past weekend hosted the big finale of professional football – the Superbowl. The resources that were dedicated to this game are almost unbelievable to comprehend. From the team player’s time, training, and preparation to the NFL’s planning for the actual event including preparing the stadium, working with the City of Indianapolis, and preparing security for the event, to private businesses planning months ahead of time for marketing their product in the form of commercials and paying the top rates for commercial spots during the game, to fans preparing for their Superbowl parties and inviting their friends and shopping for ingredients to make the winning dishes for their friends, everyone played a huge role in preparing for the game and for the experience of watching the game. Statistics show that even sales of recliners go up three times the week before the game. Fans just want to enjoy a better seat while they watch!
There are so many people and factors that all come together to play a part in preparing for and playing the game. There are billions of dollars that are spent in preparation for and an enormous amount of money that is given to the winner of this remarkable championship game.
Even though this Superbowl game is just one game in football, it is an important one. How much more important is planning and preparing for your entire life and your family’s life. Put the emphasis in perspective and value yourself and your family. In 2 Timothy 4:7 AMP, Paul writes, “I have fought the good (worthy, honorable, and noble) fight, I have finished the race, I have kept (firmly held) the faith.” Our goal in life is to fight the good fight, which means to be be prepared by planning, but to execute the plan. Our goal is not to just prepare and plan, but to finish the race and, according to Paul, we win if we have kept or firmly held the faith. There is no doubt that each team in the Superbowl is there to win! Winning should also be a goal in our lives and in our family.
Unfortunately, taking a chance on your life’s success most likely will not result in the outcome you wish. A way to look at your planning without being overwhelmed is to take it one “game” at a time, with your eyes on the ultimate championship. What goals are you looking to achieve this year, in the next 6 months, in the next 3 months, and in the next 1 month. How can you accomplish that over 4 weeks? Then you can begin to take reasonable steps day by day that allow you to see progress. Be a fan of yourself and your achievements. Just like football fans, you should celebrate yourself and your family and the achievements and wins you secure along the way. Your game plan is important. That is your Estate Plan. It may change along the way. You may need to make adjustments. Changes are easy to make. The important thing is to get started. Don’t procrastinate. Time will not stop and you have many game days ahead. Get focused and press in. You are a winner, so take action by fighting the good fight. Finish your course so you can look back having been a winner.