In her presentation yesterday for the San Diego Women’s Week, Janathan Allen focused on three stories of past clients or friends who met challenge at different points in their life. But that’s the point: there are always challenges in life. It’s so interesting that we are able to spend weeks or months planning something like a wedding, or even a party for friends in such extravagant detail. Yet when it comes to things asimportant as our own retirement, or (gulp) our passing, most people naturally want to put it off.
There is genuine power and a much greater opportunity for successful outcomes when we plan. The process itself can be quite enjoyable, and the lessons we learn enrich our lives and clarify our focus. They strengthen our resolve and make day-to-day decisions easier and more obvious. There is a peace of mind that comes with the confidence of knowing that you’ve planned for these major events and each step along the way is easier.
Finally, a word of caution to wives (and in fact all spouses): If you are asked to sign a tax return make sure you understand every item on that return, in detail. If you don’t understand, ask someone who can explain it to you in a way you can easily understand. There is a somewhat “ominous” and legally substantial phrase just above your signature on that return that says something to the effect of:
“Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct and complete.”
You are criminally liable for any actions taken by your spouse on a return you sign, and it is no defense to say “they prepared it, I had nothing to do with it.” Understand your finances, even if your spouse says “I am handling it, it’s all good.” If you have questions, ask them. Better to have a minor issue now, than a major life challenge in the future.
Janathan’s presentation was lively and substantive, and for those who are able to learn from other’s mistakes life becomes much easier and more productive. If you would like to discuss areas of trust planning, retirement, taxation or have questions about business reports and financial statements we invite you to contact us for a free consultation at 866-631-3470.