John Bowman’s Trust

Fall is here once again. The leaves are falling. The air is crisp. Pumpkin is the go-to ingredient… It’s time to sit back, sip a warm beverage, and prepare to indulge in a spooky tale of estate planning…

John Bowman was a prominent citizen during the Victorian period. Not only was he a Virginian and a millionaire, he was also a visionary of sorts.

In the late 1800’s, Bowman seemingly had it all; a beloved family, a prosperous estate worth millions, a will, trust, and a mausoleum.

Unfortunately for John, he out lived his beloved family which included a wife and two daughters. Yet, Bowman was quite decided that death was not the end, (especially for those with deep pockets and a deeper faith in reincarnation).

Bowman’s mausoleum became home to the lifeless bodies of his family. In 1891, John became its final resident.

However, before John Bowman died, he made his wishes known through estate planning, leaving behind a trust worth fifty thousand dollars. The purpose of the trust was to provide for the maintenance of his mansion and mausoleum.

John Bowman’s will stated that his staff was to prepare dinner every night in case the Bowmans returned from the dead. The will also stated that no one was allowed in the house overnight so as to not disturb the family.

John Bowman’s wishes were honored for nearly sixty years. However, in 1950 the money ran out, the trust dried up, and the Bowmans ran out of time.

By all accounts, neither John Bowman, nor any member of his family ever stepped foot out of the mausoleum. Of course, they haven’t hosted a visitor in 65 years. Perhaps all they are waiting for is a brave soul to bring them a midnight snack. … Consider it a challenge of sorts … if you dare.

How to choose a care facility…

Have you ever asked an estate planning attorney which care facility they would recommend? Many people do. It is one of the most frequent asked questions.

What you should know first …

Approximately 5.3 million seniors are currently diagnosed with Alzheimer’s in the United States; more than 440,000 of them are in California. The average amount of care needed … eight years.

We aren’t suggesting every senior in a nursing home has Alzheimer’s. But we are saying there is a definite need for long term care.

Yet, if you have ever assisted a senior in finding a nursing home, you know how difficult it can be. Considerations need to be made in regards to nursing home location, cost, quality of staff, and ability to provide necessary care.

So where does one begin to research a nursing home?

If you want to do research on your own, the California Advocates for Nursing Home Reform (CANHR for short), gets our vote for best resource available in California. Their web address is www.canhr.org.

CANHR is a statewide nonprofit organization established 1983. Its goal is to improve the quality of care for those requiring long term nursing home assistance.

One way they accomplish this is by keeping watch over 1300 facilities throughout the state, and reporting any abuses discovered in those facilities. Their website provides links to bar associations throughout California (including San Diego), lists what citations were given to which facilities, and posts “new developments” (articles about developments or policies which impact nursing home care).

For more information on CANHR, please visit their website.

If you like someone to help walk you through the process, there are a number of reputable individuals and companies to assist. – For more information on Medi-cal protection, or other estate planning options, please schedule a free consultation with a qualified estate planning attorney. … We recommend us.

Madmen displays drama in estate planning.

Although I didn’t watch the show when it originally aired, I did recently tune in to a rather interesting episode of Madmen. For those of you unfamiliar with the show, it is a drama centered on employees of an ad agency in 1960’s New York, and their families.

After watching one specific episode, entitled “The Arrangement,” I felt compelled to write this article.

In the scene, one of the principal characters (an adult female), is talking to her father. The conversation depicted is both honest and one seldom, if ever captured on television.

The man (who is suggested as having Alzheimer’s and being in relatively poor health), is explaining to his daughter (whose home he is living in), where he has stored his estate plan.

In the tradition of televised drama, the man pushes for the daughter to have the conversation. The daughter, who isn’t ready or willing, voices her objection. The father insists anyway. In the end, they exchange well written quips – both having had their feelings hurt. Fade to black.

The drama depicted in the scene does not need to happen in real life (but often does). However, it is possible to talk to your family about your estate plan without hard feelings. Regardless of how you do it, it is important to do it.

Why should you have a conversation with loved ones about your estate plan?

Although based in fiction, the writers packed in a lot of truth. Your trustee, agent, or executor, for example, are usually family members or friends serving in official roles. They need to know the location of your estate plan in the event of your death or incapacitation.

Some people think it best to make copies of their plan for family members or friends. However, most estate planning attorneys suggest keeping only the original. In doing so, you limit the possibility of error should you ever revise or update your estate plan, making it difficult for anyone to submit an out-dated version by mistake.

Another reason to talk about your estate planning (preferably before the plan is drafted), is to assure the people you choose as trustees, agents, or executors are willing to handle the responsibility you have given them, or are about to give them.

Additionally, if you later change who is in charge or how much someone will get without informing them, you might hurt some feelings.

And again, talking about your estate planning doesn’t have to be stressful or emotionally draining. Here is a tip; don’t wait until a moment of crisis to start talking about estate planning. Instead, do so sooner rather than later when there is as little stress as possible. By doing so, you can avoid your own personal Madmen moment.

For more information about wills, trust or other estate planning options; please contact a qualified estate planning attorney.

Estate planning can benefit all kinds of families.

My uncle used to say “you can pick your nose but you can’t pick your family.”

My uncle misquoted the expression of course, but it was his sentiment with which I took issue.

As any step parent, guardian or adoptive parent knows, the child you raise is your child regardless of biology.

So, it stands to reason that as parents, we would want to provide for and protect our children. Even if doing so meant protecting the child of our choosing from the family we were given.

Here is the scenario …

A man has no immediate family except for two siblings. He and the siblings have never been close and so, they became estranged.

The man meets a single mother, falls in love, and marries.

As a married couple, the man and his wife buy a home and save a modest amount of money. Neither have a will, trust or any other estate planning. More so, they are under the impression they don’t need estate planning.

Their plan (plain and simple), is that the other will inherit all of the assets should one of them die. Their daughter (his stepdaughter), now an adult, will inherit what remains when the last parent dies.

The problem is that although the man married the girl’s mother, he never adopted the girl.

Under California law, regardless of whether the man or mom dies first, without a will, the stepdaughter may only inherit one-half of the estate. Depending on the amount of time between when the man and mom died, the man’s siblings are likely to get the other half of the estate. Either way, they are in court wasting time and money which could have been saved with a good estate plan.

So, what is the solution?

As it is our preference that all our scenarios end happily, let’s say … the husband and wife consult an estate planning attorney. They have a will drafted and their assets placed into a trust. Their intentions are legally reflected through their estate plan, and the daughter’s inheritance is protected. Also, no one picks anyone else’s nose … ever. … Then end!

To learn more about wills, trusts, or other estate planning options, please consult a qualified estate planning attorney for a free consultation.