Desert Estate Planning Law Blog

Great Reads on Productivity and Habits

Daryl Binkley — Mon, 09 Apr 2012 12:13:24 -0800

Busy, busy month…. While I may have not been able to blog each week, I have still been reading a book every week. In this blog, I have decided to cover three books, ….great for anyone wanting to improve productivity and habits.

“Self Leadership and the One Minute Manager” by Ken Blanchard

Ken Blanchard uses a fictional story telling format in this book to make his points and to make the content more palatable to a broader audience that might like a fictional story, loosely hiding its educational points. The story begins with its main character pitching an important client and failing in this task. Immediately afterward, he questions his managing abilities. About the time he believes all his lost, he sees a children’s magician—and ultimately, the two start a mentor/mentee relationship, in which she brings him back from the brink. She takes him through tasks that force him to discover ,for himself, how to become a better manager.

This book is an enjoyable quick read, and ideally suited for managers of any size organization. I don’t know that it is essential for a start-up entrepreneur, but as any organization grows, those that manage others will benefit from the lessons of this book. I think my favorite part of the book is the “discovery” of the “development continuum” which “is simply a model of four stages people usually experience when they are learning to master something.” The magician and manager relationship reminded me of the Jedi/Student relationship in the Star Wars movies.

“Getting Things Done: The Art of Stress-Free Productivity” by David Allen

David Allen opens his book with an ambitious offer: “Welcome to a gold mine of insights into strategies for how to have more energy, be more relaxed, and get a lot more accomplished with much less effort.” He also states his reason for this book: “Teaching you how to be maximally efficient and relaxed, whenever you need or want to be.”

I believe he delivers on his promise, and for the most part he is not dependent (or dare I say an advocate) of overly technical solutions to project/life management. An example is the following: “If I had to set up an emergency workstation in just a few minutes, I would buy a door, put It on two two-drawer filing cabinets (one at each end), place three stack-baskets on it and add a legal pad and pen. That would be my home base (if I had time to sit down, I’d also buy a stool!). Believe it or not, I’ve been in several executive offices that wouldn’t be as functional.”

Ultimately, everyone, everyday is bombarded with numerous tasks, jobs, distractions, and/or action items, and his ideas create methods to bring order to chaos—and to organize “stuff” (see definition in his book) in the most efficient and practical way.

Warning: He acknowledges that his first step of the “collection process” can take six hours or more. For many entrepreneurs, it probably could take easily, two full days.

Initially I thought this book might be about comprehensive to-do lists, and interestingly enough, Mr. Allen does not really advocate to-do lists per se (I had the same thought about the book I read a few weeks ago, Checklist Manifesto, which is not about to-do list either).

I highly recommend this book and will be reading it again (hopefully, my wife will read also). As a family, we can then fully implement all of its strategies in our business and personal lives.

“The Power of Habit: Why We Do What We Do in Life and Business” by Charles Duhigg.

After reading the book, I definitely have a better understanding of how habits work, and as the author believes: “simply understanding how habits work—learning the structure of the habit loop—makes them easier to control. Once you break a habit into its components, you can fiddle with the gears.”

This book provides many interesting insights into habits. For example, “Habits never really disappear. They’re encoded into the structure of our brain.” In fact, this truth inspires the author to state the following: “The Golden Rule of Habit Change: You Can’t Extinguish a Bad Habit, You can Only Change It.”

As controlling as habits are, the structure of the “habit loop” is relatively simple: you have a cue, followed by a routine, and then a reward. It is a loop because when the cue occurs again, it will then trigger the same routine and reward. The book goes over many different examples of these habit loops, and while the activities involved can be complex, the basic structure of the habit loop is, as stated, relatively simple.

I think the book would be well served to include some expanded chapters on how to deal with (or change) specific habits (maybe smoking, overeating, etc)—which would provide insight into all types of ways to change habits. But, maybe that will be the next edition.

As People Live Longer, End of Life Decisions Become More Important

Daryl Binkley — Mon, 02 Apr 2012 12:20:45 -0800

So much progress has been made in healthcare and medical industry that now people live longer and longer. But living longer is not the same as living better. As Peter Saul points out in this TED talk, it is more important now to make those life-end decisions so our opinions matter when, in those last months or days, we can no longer make them for ourselves. By making these decisions, we are defining, for ourselves and others, what meaningful life represents to us and letting those around us know how we feel emotionally, mentally, spiritually.

Over year ago, I heard Bill Bradley’s speech at the Desert Town Hall in Indian Wells and among many interesting things he mentioned that night, one fact stayed with me. He said, states would save between $35-$65K/per person if everyone would make some of these life-end decisions ahead of time specifically, by creating a Living Will and Advance Health Care Directive.

If you currently do not have these documents in place, I strongly encourage you to consider them. The following Healthcare documents designate your wishes for the end of life procedures (think of the Terri Schiavo case). Also, these designate who gets your healthcare documents, or who can make health decisions for you. These documents include:

CA Advance Healthcare (Healthcare Power of Attorney)
Living Will
HIPAA

In addition to these directives, you may also consider other essential legal documents listed below:

· Power of Attorney: In case of your incapacity, you can assign someone to act on your behalf for your financial or other accounts. This document can authorize someone you trust to pay your bills, take care of your utilities and any other financial affairs.

· Will and/or Trust: In case something happens to you, a Will or Trust designates who will be an executor or trustee of the estate, and how your assets are distributed. Talk to your attorney to find out whether a Will or Trust best suits your needs. I am a big proponent of a Trust, as it avoids probate (read more about this topic here). A Trust should also include a Pour-Over-Will, and all of the other documents mentioned above. It is best to discuss your personal situation with a trusted and reliable attorney.

· Guardian Instructions: If you are the parent of a child under 18 years old, creating guardian instructions is very important. This ensures people you trust to take care of your child in case something happens to you. You can also include specific instructions about your views on education, religion or any other matters, such as medical conditions or food allergies.

It is often tough to think about these decisions, but I encourage you to do so. As Peter Saul points out, making these decisions shows that you matter, that your life matters.

Book of the Week: "Quiet" by Susan Cain

Daryl Binkley — Mon, 05 Mar 2012 13:48:51 -0800

I give “Quiet” a loud recommendation as a Must-Read for parents of an introvert

The full title of this week’s book by author Susan Cain is: “Quiet: The Power of Introverts in a World that Can’t Stop Talking.” This book delves deeply into the various traits, characteristics, behaviors, successes and anything else you can imagine about introverts, and introversion more generally. The author proclaims: "today introversion and extroversion are two of the most exhaustively researched subjects in personality psychology, arousing the curiosity of hundreds of scientists.”

Reading this book reminded me of my undergraduate classes in social psychology at UC Berkeley, and I thoroughly enjoyed how Susan Cain has brought the academics of introversion/extroversion to real-life experiences focusing her attention on many of the ways introverts succeed in all walks of life (even when extroversion became the “cultural ideal” of modern America).

The author relates how Dale Carnegie, the author of the book “Public Speaking: How to Win Friends and Influence Others” had a “metamorphosis from farmboy to salesman to public-speaking icon is also the story of the rise of the Extrovert Ideal.” Essentially, the industrial revolution that started in the early 1900’s and continued through much of the century created this American culture of the “Extrovert Ideal,” whereby “Americans responded to these pressures by trying to become salesman who could sell not only their company’s latest gizmo but also themselves.”

The author found that at Harvard Business School, extroversion is almost at the base or foundation of the institution. Where one Harvard Business School Grad terms the school the “Spiritual Capital of Extroversion” and another student saying to the author: “Good luck finding an introvert around here…” and yet another saying “This school is predicated on extroversion…Your grades and social status depends on it. It’s just the norm here.”

Without spending too much time on this part of the book, suffice it to say that “Contrary to the Harvard Business School model of vocal leadership, the ranks of effective CEOs turn out to be filled with introverts: including Charles Schwab; Brenda Barnes, CEO of Sara Lee; and James Copeland, former CEO of Deloitte Touche Tohmatsu.” She continues on this theme by discussing Jim Collin’s “Level 5 Leaders” from the book “Good to Great”—another book I highly recommend and plan to read again later this year.

Without giving away everything, I will just say that I was intrigued at why “introverts are uniquely good at leading initiative takers” whereas extroverted leaders may need to adopt a style that is more reserved—to achieve the best results with employees that are initiative takers.

There are so many great stories in this book, and I believe it is especially good for parents, regardless of whether they believe their child/children may be introverted or extroverted—and I would say a MUST READ for parents that know they have a child (or children) that are introverted. Some researchers have an “Orchid Child” hypothesis whereby they believe introvert children may require a somewhat more complex and supportive family environment (think the delicate nature of the orchid), but the results of this upbringing may create a caring, compassionate and “Thinking” person (and sometimes more immune to colds and respiratory illnesses) that is nothing short of an amazing person (think the exotic beauty that is the orchid).

Initially I was a bit skeptical when I downloaded this book. I didn’t know anything about it—I thought I could be in for a real boring read—introverts and “Quiet”! However I found this book to be a fascinating read. Now a quick disclaimer: I don’t know if extroverts will really enjoy it as much as an introvert (remember that introversion/extroversion is really just a spectrum of behavior on a single continuum), but given its broad range of topics (including the ability of Introverts to “act” like Extroverts under the terminology of “Free Trait” behavior)—I believe that anyone, regardless of where they are on the introvert/extrovert spectrum, will learn something from this book, and hopefully truly enjoy reading it, too.

When Should You Update Your Estate Plan?

Daryl Binkley — Mon, 27 Feb 2012 13:33:52 -0800

One of the most frequently asked questions I get is this one:

"I had my estate plan done many years ago, so when and how often should I update it?" This is a great question!

I say great question because like you, your trust documents should change as you grow, and as your life circumstances change. You should think of your trust documents as living documents that should reflect you and your life as you age. You may have more children, grand-children, get divorced, re-married, buy more real estate, start a business or win the lottery (one of my clients won, so it happens)!

As you age, your wishes as to who you want to receive your house, your beloved art collection, etc., might change as well.

The following are guidelines as to whether your estate plan needs updating:

Did you or any of your beneficiaries get married, divorced, have more children, etc.? In other words, did your life circumstances change?
Did you recently retire? Or did you have any health disability or issues?
Did you move from one state to another, or acquire real estate in a new state where you plan to live part-time?
Did your assets or income change? For example, did you acquire or sell new real property, become beneficiary of a large inheritance, etc.?
Did you start a new business? And are others involved?

In any case, a good rule of thumb is to touch base with your estate planning attorney every few years to see if a little updating of your trust is in order.

Book of the Week: "The Checklist Manifesto" by Atul Gawande

Daryl Binkley — Sun, 19 Feb 2012 11:56:19 -0800

Graphic, compelling story-telling format of the “The Checklist Manifesto” will make you pause and reflect on how you can use the power of checklists in your business and professional life. At least, that is the effect this book had on me: examine and pause.

Given Atul Gawande, the author of “The Checklist Manifesto,” is a surgeon, I should have been better prepared for some of the medical “war stories” that he covers in his book. His stories involving patients whose hearts have stopped will leave you a little breathless (and for me, squeamish), unless you are not affected by graphic operating room stories.

(Pictured below: Dr. Atul Gawande; Photo by: Fred Field).

However, this vivid and compelling story-telling format makes the reader stand-up and think about the point of “The Checklist Manifesto,” which for me is this, the use of checklists can improve patient survivability rates, improve business performance, airplane safety, and even improve outcomes in legal matters. For example the statistics related to medical issues are quite dramatic, he states that in 2006 it was less than a 50 percent chance that heart attack patients would receive the appropriate testing, diagnosis and medical plan within 90 minutes of arriving at the hospital (a timeframe that would increase the survivability of such patients). He also states that “Studies have found that at least 30 percent of patients with stroke receive incomplete or inappropriate care from their doctors, as do 45 percent of patients with pneumonia. Getting the steps right is proving brutally hard even if you know them.” He believes—and implementation has proved—that checklists provide shortcuts to solve complex problems (and in the realm of air travel safety—emergency problems) in an abbreviated time frame.

One of the industries that has long used checklists and continues to use checklists as an everyday practice is air travel. In the book, he discusses the inaugural flight of the B-17 Bomber (in 1935) that was flown by one of the best pilots of that time period. The flight was tragic in that shortly after lift-off, as the plane approached 300 feet in the air, an engine stalled and the plane turned on its side and crashed. The plane was the most complex for its time period. The investigation showed that the accident was caused because of one “pilot error”; one simple step had been skipped among many actions a pilot had to do before and during the take-off. The fix was to use a checklist, and since then, the airplane pilots have a checklist for almost every possible scenario and routine checklists play a role in every single flight. I told the story about the B-17 bomber to a client (he was a pilot) and he was pretty shocked that I heard of it as he thought of it as an industry specific one, and he only met pilots that knew about that story.

Gawande gives additional examples of modern-day checklists in flight safety with the famous “Miracle on the Hudson” landing by Sully and how pilots deal with fuel icing that causes engines to stall (an accident just in the past few years that allowed the creation of yet another checklist).

Another industry that uses checklists to solve complex problems is the building industry, for example in the building of skyscrapers—a process that involves all sorts of complicated building processes that have to work together in a coordinated effort, even when there are numerous "change orders."

Throughout the book he goes back to his native profession of surgery and how checklists improve the performance within the medical industry. He provides a strong argument that checklists can be useful in almost any field or industry where there are complex problems with numerous steps, and where the misstep of a single simple step can have dire consequences.

I would have to think that anyone can benefit from reading this book. After reading the book, one would be well advised to begin dissecting their own tasks, or business protocols to see how checklists can create better outcomes and provide efficiency in one’s daily routines—or to be used when a random problem comes at you, and you need a systematic way to solve it.

Book of the Week: "Screw Business as Usual" by Richard Branson

Daryl Binkley — Sun, 12 Feb 2012 11:31:57 -0800

I was very excited to read Richard Branson’s “Screw Business As Usual” as it examines how entrepreneurs can be successful while still helping out causes for the greater good of mankind. Branson says: “I constantly meet a growing army of entrepreneurs around the world, and when they ask me if I have one single message which will help them, I tell them it’s this: doing good can help improve your prospects, your profits and your business; and it can change the world.” Throughout the book, Branson discusses a wide range of types of causes, such as environmental issues, human rights, poverty, cancer, and many more.

Photo Credit: Victoria Dawe

Branson believes that by the 1970's business were focused on maximizing profits, at any expense. He states that he has:

“belief that people are basically good and, if you can only give them the opportunity to do the right thing they will. This applies to businesses as well. One of the more devastating theories of the 1970s was that no matter what it took to achieve it, the primary purpose of business was to maximize value for its shareholders. This principle has led to a variety of social ills where businesses discard employees (at the drop of a hat), pollute our air and waters, or create short-term gains that are unsustainable. It is important for people in business to recognize that long-term shareholder value is more likely to be created by companies that value their employees, act as good environmental stewards and think long term in general.”

The above quote probably best sums up the underlying argument of the entire book, and the bulk of the book contains various examples of businesses that are doing well by doing good.

It is great if large organizations (such as the hundreds of companies that Branson manages) can operate in ways that value employees, and look at ways the business can help the environment or proactively how they may help out charitable organizations.
He references certain companies that are built around positive principles, and have done very well financially, such as companies that make organic food products.

He notes that GE and Walmart are proactively taking steps that will both be financially rewarding and help out the environment.

It is definitely a worthy goal for businesses to improve mankind, and at the same time generate enough profits to put food on the table for their families, and the families of their employees. However, given the economic situation that so many of American businesses are experiencing right now—especially small businesses, I don’t know to what extent many of Branson’s larger than life projects/examples are relevant to small business owners.

I would say the most important takeaway, and believe Branson would agree, no matter how big or small, it is important to make the attempt to “do better.” For my law office, my wife and I attempt to participate in local community events and charities, such as offering a scholarship to a local senior (the law office donated to a Palm Desert High School senior). We attend fundraising events and in general attempt to assist a handful of charities that we feel strongest to support. I believe business owners can find ways to participate in their own communities-assisting with their time, money or knowledge.

Branson’s book provides an optimistic point of view of the future of entrepreneurship—mainly that businesses will naturally operate in ways that are more environmentally friendly, employee friendly, and in cooperation or benefit to communities. However, being in California, I also recognize that sometimes the regulatory environment (in this state) can be stifling to businesses, and in the current economic climate that is not the best situation either.

If something happens to you, what happens to your business?

Daryl Binkley — Wed, 01 Feb 2012 13:20:50 -0800

I have read that approximately 60% of people never do any estate planning-no Will, no Trust, no healthcare directive. Just think about the Terri Schiavo case, and how the lack of any healthcare directive can cause confusion and conflict in a family. Various statistics say that people spend more time planning a vacation or birthday party and definitely more time watching television, than thinking about what would happen if they are incapacitated or worse, not around anymore. Thinking about our own mortality is not fun (for most of us at least), and decisions about your own affairs can be very daunting. Also, if you are in the small group of people who are self-employed, there is another layer of complexity—what happens to your business if you die?

Are things set-up so your business can operate without you? Are managers in place to operate your company? Are they aware of your wishes as to how the company should go on? Do you care if your business is immediately sold, or do you want your company and legacy to continue on?

Business can, at times, be the most valuable and the most vulnerable asset you leave for you loved ones-therefore the hardest one to manage and maintain.

One of the major breaking news stories yesterday, was the merger between two local television stations, KPSP Local 2 and KSEQ 3.

In a statement posted to KESQ's website, Jim Houston said, "KPSP was a labor of love for my wife Jackie Lee Houston. In addition to its excellent local news commitment, the station has made a tremendous contribution to the non-profit community of the Coachella Valley. With her passing, we have now made the difficult decision to find a new owner for our television operation. While a number of options were carefully considered, a merger with the Bradley family, owners of Gulf-California (KESQ-TV) was ultimately chosen as the best opportunity.”

From the statement above, it is clear that Mrs. Houston’s passing played a role in KPSP Local 2 being sold at this time. From my understanding, KPSP will operate as a separate station, but due to this merger, structural changes have been made and many people have lost their jobs.

Clearly, some decisions will need to be made about your business, if you are not around, so here are some things to consider long-term:

· Can your business operate without you at this very moment? Can it ever operate without you? If yes, who can run it for you?

· Who would you assign as manager? What direction(s) would that person need in order to run the company as you do?

· Are you opposed to mergers or your company being liquidated? If yes, what would you like to occur?

For many entrepreneurs, their business is their baby. In that case, considering a few of these questions is a worthy pursuit.

Book of the Week: "Thinkertoys" by Michael Michalko

Daryl Binkley — Mon, 30 Jan 2012 12:22:36 -0800

Thinkertoys: How to See ~~Something~~ Everything Differently

This week I read Thinkertoys, all 665 iBook pages of it, and in a fairly small print. In the past several years, it has been extremely rare for me to buy a book and not end up reading it within a short period of time; however, this is what happened to this book. I purchased the hard copy version at least a couple of years ago, and always looked forward to reading it—believing it was a book that had practical knowledge in it. The reason I never read the hard copy book was its size, it is more of a text book than one you can simply hold in your hand to read.

Now that I have finally read it, I recognize that my gut feelings were correct, namely that this book had many nuggets of information that I believe are useful to me in both my personal and professional life. According to the author, “Thinkertoys train you how to get ideas. They are specific hands-on techniques that enable the reader to come up with big or small ideas, ideas that make you money, solve problems, beat the competition, and further your career; ideas for new products and new ways of doing things.”

Ultimately, the book will help you achieve the following: “You will find yourself looking at the same information everyone else is looking at yet seeing something different. This new and different way of seeing things will lead you to new ideas and unique insights.”

This book is really more of a workbook for individuals that want to learn tips, strategies, and techniques to be more creative—by putting structure in, and to the creative thought process. He divides the book in two main types of creative thought processes: 1.) Linear Thinking and 2.)Intuitive Thinking.

Although I forced myself to read the entire book in one week, this really should be used as a reference book as to how to perform Creative Inducing Activities—whether for a business owner that wants to individually think of more creative ideas, or for corporations that are looking to create brainstorming sessions, such as those used for sales teams at corporate retreats.

While most of the author’s examples are what I would term active strategies to induce creative thinking, he also discussed the benefits of “relaxation and meditation.” He has several techniques that “produce alpha brain waves that are slower and deeper than beta waves. Alpha waves quiet your mind so you can see the solutions that are already there.” Essentially, he says sometimes our brains are firing so much, that we don’t benefit from information and creativity that may be found in our alpha brain waves.

A great analogy of this is as follows: “Stars cannot be seen during the day, because their faint points of light are overwhelmed by the sun. In a similar way, some ideas cannot be discovered because their faint points of light are overwhelmed by your brain’s active beta waves, which are as noisy as a goose eating dominoes.”

The book contains lots of interesting facts, stories, analogies and mental puzzles. For anyone that wants to read a book that offers some concrete strategies and tips on how to be more creative, I highly recommend this book.

As a personal side note, I was convinced that if I read this book, it would have to make me smarter. After finishing the book, I don’t feel any smarter, but I do believe I now have new ways of viewing problems and attacking them in a more creative fashion.

Book of the week: "Founding Rivals" by Chris DeRose

Daryl Binkley — Thu, 26 Jan 2012 11:15:08 -0800

I was excited about this week’s book, “Founding Rivals”, because it was written by a Pepperdine Law School classmate of mine, Chris DeRose. I met Chris during the summer after the first year of law school, when we both attended a London “summer abroad” program. (Chris is on the left in the picture below taken during our trip to England)

Chris is a superb writer, and I was amazed at the great job he did of making the events leading up to the signing of the Constitution—and its ratification afterwards—interesting!

I think Americans generally view the Constitution as the law of the land, and that its creation was based upon a solid agreement of the founding fathers. Chris’ book dispels that myth, in that the Constitution, its ratification and agreement by the states (at the time our country was founded), only occurred after critical elections, and after painstaking Constitutional conventions. It could have just as easily been decided to have the Constitution thrown out and something else put in its place—or even worse—having a confederacy of states without any uniform legal rules. I guess that would have made the U.S. something more like European countries.

The focus of Founding Rivals is on a single election involving James Madison and James Monroe (and important events that shaped the lives of the two men). As Chris states:

“But for the result of one election, the United States of America might well have died in infancy.”

“On the Federalist side stood James Madison, determined to defend the Constitution and the new government he had worked so hard to create. Against him stood James Monroe, Anti-Federalist, opponent of the Constitution as written, and erstwhile ally of Madison.”

Given the current state of politics, it was refreshing to read about the greatness of some politicians at the founding of the country, and the deep respect they had to that foundation.

In summary, I am very impressed with Chris’ book, and it stands as an inspiration to others, in that, if you apply yourself, you can do amazing things—such as get a book published. Chris has an ability to draft the human background stories in a way that brought the late 1700’s to life…

In the picture below: "Founding Rivals" book displayed in my office (Chris I still want my copy signed)

*Note this is not a business book, however, it provides a great discussion about the time period of the signing and ratification of the Constitution. Also, besides being on display my second copy is on my IPAD.

Book of the week: "Onward" by Howard Schultz

Daryl Binkley — Tue, 17 Jan 2012 12:52:47 -0800

For my third book of the year, I chose "Onward" by Howard Schultz, after a client/friend highly recommended it. After somewhat scary revelations of my previous book “Boomerang”, I looked forward to reading “Onward” - an uplifting story of entrepreneurship.

“Onward” proved to be just that (uplifting) and so much more. This book by Howard Schultz catalogs and follows his re-emergence as “ceo” of Starbucks in January 2008 (according to Schultz all leaders were lower case letters, and all the employees are termed “partners”). What makes this book particularly interesting is the timing of his re-emergence at Starbucks as the recession had officially begun in December 2007.

After he came back, Starbucks had to deal with things that had never happened to the company before—the closing of hundreds of stores, the laying off of thousands of employees, negative earnings, and negative comps. In the book, you feel like you are there in the trenches fighting with him—as he states: “The crisis was forcing people all along the economic spectrum to come to terms with new realities and redefine how they lived in the world. Starbucks and I were hardly alone in our transformation.”

By the end of the book Starbucks had turned the corner on the negative economic trends, and as Howard states, “I did welcome a shift from survival to growth mode” (emphasis added). You hear entrepreneurs that first start their business talk about being in “survival mode”, you hear seasoned business owners in the current economic climate speak of about being in “survival mode”—it was very intriguing to hear the ceo of Starbucks discuss the experience of the past two years as “survival.”

In fiscal 2010, Starbucks revenues increased to a record $10.7 billion. As Howard looks at how Starbucks got off-track, I think the following quote is on point: “Growth, we know all too well, is not a strategy. It is a tactic. And when undisciplined growth became a strategy for Starbucks, we lost our way. But no longer are we growing the company the way we did in the past. In short Starbucks today aims to be a very different type of company.”

After reading the book, and the Herculean work that Schultz did to transform his company, I believe this re-emergence as a ceo and leader of the company has been instrumental in Starbuck’s ability to be such a strong brand in the current economic climate.

In addition to many useful nuggets of insights throughout the book, I also found it interesting and refreshing to read how Howard was influenced by the writings of a small merchant with one store in Italy. To me, it reflected how entrepreneurial mindset applies just as well to a small entrepreneurial company, as it does to this Mega-Company.

In that vein, I look “Onward” to my fourth book of the year—“Founding Rivals: Madison vs. Monroe (The Bill of Rights and the Election that Save a Nation”). I am very excited to finally get the chance to read this book because the author is Chris DeRose, a fellow Pepperdine Law School graduate. Let’s see if he can make the politics of the founding of America interesting (I have already read the first 40 pages or so and am already engaged to read onward).

Letting the world know your wishes (or at least your attorney)

Daryl Binkley — Thu, 12 Jan 2012 15:40:50 -0800

In life some things are easier to share than others. If you recently got engaged, married, had a baby, got a promotion or landed a great gig – sharing the news is exciting. You want the world to know.

Your estate plan is different—you don’t want the world to know your wishes (generally while you are alive this is to remain confidential). However, you do not want to be so private about your affairs that no one ever finds out about them (i.e. people digging your backyard to find your will or trust). Thus at some point you do want your affairs to be administered in the way that you direct them to be via proper legal documents.

Most people tend to delay making decisions about their financial affairs or what happens in case of their (gasp) death even if their internal family dynamic is peaceful and distribution fairly straight-forward (for example, couple has only one child that will inherit everything). If no planning is done, the government has a plan for you it is called probate (you can read about it here).

Planning can be especially important if you don’t have children of your own and if you are not married (or have a domestic partner). The best planning you can do is by having the proper estate planning documents signed in front of witnesses, notary and documents drafted by an attorney, who becomes a trusted counselor. If not done properly or at all, various family members might argue, rightly or wrongly so, that they should be a beneficiary of your estate. Having an attorney draft your estate plan is critically important so that later your family can turn to someone who knew your wishes and can answer questions about your estate. Also, having an attorney allows for this process to stay private and takes the guesswork, confusion for your family and loved ones. If done properly, estate planning documents can save your loved ones from the probate court and the potential of a lengthy litigation (where beneficiaries can try to interpret your wishes).

The probate court has many cases when a person without children or spouse/partner suddenly, late in life, wills everything to someone who is not a family member or was unknown to the closest relatives. Wills in those cases were handwritten, not drafted by attorney, raising suspicions about validity of the Will. Leaving the estate to a friend or a charity is a perfectly fine choice however, having an attorney draft those documents, having those documents signed in front of impartial witnesses provide a sense of security that these were truly your wishes. Also attorneys generally hold onto the original Will and give clients a conformed copy—this is to ensure no additional pages are added and that the Original Will is not altered in any way.

Proper planning is a smart choice regardless of how simple or complex your estate or family situation might be, but particularly important for people who are single, without children or immediate family close by to ensure there is no abuse or any fraudulent activity going on. Letting the right people know (your family and attorney) about your wishes should let you sleep peacefully at night.

Book of the Week: "Boomerang: Travels in the New Third World" by Michael Lewis

Daryl Binkley — Mon, 09 Jan 2012 12:01:37 -0800

My second book for the year is "Boomerang", and given the following article “US Debt Is Now Equal to Economy” on CNBC today, I couldn't have read it at a more appropriate time. To anyone that is interested in learning more about the world economic debacle that has been going on for the past few years, I highly recommend it.

The book describes the economic events in Iceland, Greece, Ireland, Germany and finally the US, specifically in California. The way Michael Lewis writes is colorful (aka profanity), humorous, and biting. The events in Iceland, Greece and Ireland would be hysterically funny but given that Lewis just reports what he finds out, the truth seems at once both absurd and scary. I found that when he got to the US, he left me wanting much more, but definitely believing that our economic system (and specifically governmental bodies--cities and municipalities) has some serious economic issues ahead—you only have to read the linked article to recognize this is proving to be true (and by other articles put out on a daily basis as to the economic status of the US and other nations).

After reading "Boomerang" I find it harder to believe statements from some economists that: “a better measure of the nation's debt is how much the government owes creditors, not counting $4.7 trillion owed to future Social Security recipients and other government beneficiaries. By that measure, the debt is roughly a third less: $10.5 trillion, or nearly 70% the size of the economy.”

I am not an economist, but this is the type of thinking that underestimates the economic problems in the US (and other countries, too), an underestimation that is extremely dangerous—what are Social Security and Pensions off the Balance Sheet??? You just have to look at Vallejo, where Lewis states: "Back in 2008, unable to come to terms with its many creditors, Vallejo had declared bankruptcy. Eighty percent of the city's budget--and the lion's share of the claims that had thrown it into bankruptcy--were wrapped up in the pay and benefits of public safety workers." I believe economists shouldn't be so quick to list Social Security and retirement plans as an unimportant factor of our debt.

Read the part of the book where Mr. Lewis discusses the financial situation with the mayor of San Jose and see if the following statement from today’s article appears a little scary—“Long-term projections suggest the debt will continue to grow faster than the economy, which would have to expand by at least 6% a year to keep pace.”

Read this book and see if you have a different view of our economic issues.

Michael Lewis is one of those writers that amuses while he enlightens the reader (the humor, at times bordering being vulgar is appropriately placed). Even though, some the characters are a bit one-dimensional as Forbes states in their review of the book, I look forward to reading some of the other books that Michael Lewis wrote, including The Big Short.

Ultimately, our economic problem (yes it is OUR problem, not just America's but every citizen's problem) is as Lewis states it "a problem with the entire society" and all levels of society has played a role: "from the top of society to the bottom."

Have you read this book? What are your thoughts? Let me know here or on my Facebook page.

Boomerang, Week 2

I have already downloaded my book for next week (and begun reading it): “Onward: How Starbucks Fought for Its Life without Losing Its Soul” by Howard Schultz based on a recommendation of my friend. Even by decreasing the font size, my IPAD says I have 596 pages until I finish it—Ouch!!!

Book of the Week: "Think and Grow Rich" by Napoleon Hill

Daryl Binkley — Wed, 04 Jan 2012 11:55:13 -0800

One of my resolutions this year was to read more. One book per week, ideally on my iPad while working out (a bit ambitious, I know). Books inspire ideas, provoke, educate, delight and motivate. I especially love reading biographies, books about innovation, business and entrepreneurship.

I am starting the year, re-reading one my favorites “Think and Grow Rich” by Napoleon Hill. I was introduced to this book by chance, awhile back while studying for my real estate broker’s exam. One of the instructors mentioned it as one of his favorite books and I decided to check it out to add some variety to my medley of law and real estate books at that time.

Published in 1937, “Think and Grow Rich” summarizes the teachings of Andrew Carnegie, Henry Ford, Thomas Edison and many others on achievement, success and breakthroughs. If you own your own business, or aspire to be an entrepreneur, innovator, self-starter, I think this book would make an excellent addition to your library. I have read this book many times, and every time I get some new nuggets of information that I somehow missed on a previous read. I also find that reading it at the beginning of the Year can give you a little extra motivation to get some of those goals achieved… Afterall, I agree with Diana Scharf Hunt “Goals are dreams with deadlines”.

*To the left is the version of the book I have purchased many times and given as gifts to friends.

I was lucky enough to find a free version of this book on my iPad, check out iBooks to see if it is still available.

Have you read this book? What are your thoughts? Let me know here or on my Facebook page.

Think and Grow Rich, Week 1

I have already downloaded my book for next week: “Boomerang” by Michael Lewis--and I'm curious, if anyone has read it?

New Year Resolutions & Essential Legal Documents Everyone Should Have

Daryl Binkley — Thu, 29 Dec 2011 14:36:09 -0800

As we approach 2012, it is a great time to look back, see how much we have accomplished in 2011, and set our goals for the New Year. This time of year is when many of us start writing New Year resolutions to set the tone for what to expect of ourselves. At times, these resolutions can be a long list of to-do items that can overwhelm rather than inspire. So, for me the trick has always been to add some fun items.

Every year, in addition to my professional and personal goals, I try to add a few fun things like playing tennis or travel to a new destination to keep me going. My wife, Ana, for example creates a separate list of mostly fun items that you can see below (surprisingly, she added rising at 5 AM here too, hmmm?)

Over the years, I have noticed that in December, most people tend to review with me their existing legal documents or plan to see me in January to start something new. So, I thought it would be great to share with you an essential list of legal documents everyone should have, regardless of how much money or assets they have. Also, I added a few items (not legal documents) that are good to review every year to ensure they reflect your wishes.

Essential Legal Documents

· Healthcare documents: These documents designate your wishes for the end of life procedures (think of the Terri Schiavo case). Also, these designate who gets your healthcare documents, or who can make health decisions for you. These documents include:

CA Advance Healthcare
Living Will
HIPAA

· Will and/or Trust: In case something happens to you, a Will or Trust designates who will be an executor or trustee of the estate, and how your assets are distributed. Talk to your attorney to find out whether a Will or Trust best suits your needs. I am a big proponent of a Trust as it avoids probate (you can read more about this topic here). A Trust Package plan should also include a Pour-over-Will and all of the other documents mentioned. It is best to discuss your personal situation with a trusted attorney.

· Guardian Instructions: If you are the parent of a child under 18 years old, creating guardian instructions is very important to ensure people you trust to take care of your child in case something happens to you. You can also include specific instructions about your views on education, religion or any other matters, such as medical conditions or food allergies.

Additional Items to Review:

It is a great idea to review beneficiary designation forms from time to time to be sure they reflect your current wishes. If you were recently married, divorced or had more children, look into the following policies/plans to verify they reflect your wishes.

· Beneficiary designation(s) on your life insurance policy

· Beneficiary designation(s) on your retirement plans

· Beneficiary designation(s) on your investments accounts

You may consider adding a few of these recommendations to your New Year resolutions. It will give you peace of mind that you took care of some essentials.

Wishing you a happy, healthy and prosperous 2012!

Holidays, Estate Planning & Steve Jobs' Trust

Daryl Binkley — Wed, 30 Nov 2011 09:29:09 -0800

I hope you had a nice Thanksgiving holiday whether it was with family, friends or some R&R alone. I spent mine with my family and mom, here in the Desert, amazed at the gorgeous weather we had that day. You can see the picture of my daughter and me on a boat ride we took at the Desert Marriot during the Thanksgiving break. I love Thanksgiving as we really tend to focus on what’s the most important to us - simple joys of being around your loved ones and remembering all those things we are grateful for.

As I had a bit more time Thanksgiving morning, I briefly looked over news sites and found quite a few articles mentioning Steve Jobs. His legacy and impact is certainly felt in a way we do things every day. I am able to write this, listen to music, watch movies and let my daughter play piano on a device he created. But the article that caught my eye was not about Steve Jobs & Apple –it was about Steve Jobs’ $4.6B in Disney shares. It was announced in this brief article $4.6 billion worth of shares in The Walt Disney Co. are now in a trust run by his wife, Laurene Powell Jobs.

Back in October 2011, Forbes Magazine stated Steve Jobs has most likely protected his estate with a living trust, but the extent of all of his planning is most likely to stay private as living trusts provide privacy protection (another strong advantage of the trust).

Use of a living trust to carry stock or financial accounts might have made news in Steve Jobs case, given the celebrity status and the sizeable amount but it is frequently used as an estate planning tool. You certainly don’t need to own millions in stock accounts to use this tool to protect you from probate court.

Over the last few years, I have seen that this time of the year people start to think about creating a trust or restating the one they currently have to better reflect their situation. If you own stocks at this time, or a sizeable amount in financial accounts, you might want to consider putting them in the name of the trust. Check with your financial advisor as to how your account is titled and then, if appropriate, ask for recommendations on how to go about creating a trust. You can read about the advantages of creating a living trust here.

Have a great week everyone!

Daryl

Non-profits, Charitable Giving in Coachella Valley

Daryl Binkley — Mon, 27 Jun 2011 14:44:09 -0800

One of many reasons, I love living in the Desert is the sense of community. Whether it is volunteering, donating big or small, almost everyone I know is involved in some sort of giving with a local school, shelter, church or other charitable organization. Here, in the Desert, it seems, general attitude is one of generosity.

I had my own gut feelings that perhaps maybe, just maybe, amidst all the bad news about the economy that struggling non-profits on our local level might be more resilient and doing better than expected. Personally, I have attended quite a few fundraising events since the beginning of the year and was struck by generosity of everyone attending. Events like 2011 Palm Springs Film Festival and Zoobilee benefiting the Living Desert brought in more money than expected. Even fundraising efforts of local schools, like my daughter’s school, reported record breaking numbers this year. Is it possible that things are not as bad as expected, or better yet, are we doing better? I was curious to find out more.

Sandra Viden-Martins from the local Animal Samaritans SPCA said “Animal Samaritans continues to be challenged by a need for additional charitable contributions to support its programs and services. We are pleased, however, that an increasing number of caring individuals have chosen to include the organization in their estate planning. As well, our “Men of the Desert” fundraiser in January was well attended and helped introduce Animal Samaritans to a number of new supporters.”

Photo from the recent 2011 Walk for the Animals -Animal Samaritans SPCA

Jasenka Sabanovic, serving on the board of Women Leaders Forum and Shelter from the Storm said: “Many organizations are looking for different, more creative ways to raise money, like Bachelor Auction (benefiting Shelter from the Storm). If someone has to choose, they will always go for more entertaining and fun event. Also, event planning is cutting on cost a lot, so it seems that we are raising more money. It is a good thing, that way more money goes to charity, versus the event decorations for example.”

Some interesting data came from the recent Desert Estate Planning Council Meeting where the topic was charitable giving. CEO of the Living Desert said that while it was too early to be optimistic, he is encouraged to see that despite downward trend of dollar value of gifts that number of gifts is steady or trending upward.

Also at the same meeting, Raúl Bustillos, SVP & Inland Empire Market Manager from Bank of America presented the findings of Nonprofit Finance Fund 2011 Survey and 2010 Bank of America Merrill Lynch Study of High Net worth Philanthropy researched and written by The Center of Philanthropy at Indiana University. He presented these findings with preface that we, here in the Coachella Valley, might be better off than others due to more diverse population.

According to Nonprofit Finance Fund 2011 Survey “America’s Nonprofits struggle to meet fast climbing demand for services and 87% of nonprofits say the recession has not ended.” Below are some findings from this survey that I found interesting.

"2011 will be another tough year for non-profits and the people they serve

85% of organizations expect an increase in service demand in 2011; just 46% expect to be able to fully meet this demand.
60% of organizations have three months or less of cash on hand; 10% have none.

Yes, there are signs of hope:

44% of nonprofits reported ending 2010 with a surplus, a move in the right direction from 35% who had surplus in 2009.
25% of organizations added to reserve funds in 2010.
35% of organizations raised more revenue in 2010 than anticipated.
“Lifeline” organizations that provide critical services to people in need are finding it particularly hard to meet the demands in their communities

Nonprofits are coping with the “new normal” of fewer resources…Over the past 12 months:

55% added or expanded program and services
49% increased the number of clients served
47% partnered with another organization to improve or increase services offered
39% reduced annual expenses
36% relied more on volunteers. "

Some of the more interesting parts of the 2010 Bank of America Merrill Lynch Study of High Net Worth Philanthropy include the following ( please note that findings reflect data compiled by the end of 2009

" High net worth households continued to support charitable organizations at levels seen in 2005 and 2007 (98.2 % of high net worth households donated to charity in 2009)

Average charitable giving by high net households between 2007 and 2009 dropped 34.9%.
A few subsectors saw increases, between 4% and 21%, in the average amount given by wealthy households including arts, environmental/animal care, international causes and to giving vehicles. Other subsectors saw more significant declines from 2007, with giving to health experiencing a 63.7% decline, education a 55% decline, and combined purpose organizations (such as United Way, United Jewish Appeal, or Catholic Charities) experiencing a 44% decline.
The more high net worth individuals volunteered, the more they gave.
Over half of high net worth individuals gave their largest gift in 2009 to fund the general operations at nonprofit organizations. Approximately, 36% of high-net households gave their largest gift to fund a particular program, and 23.5% gave to support the growth of the organizations. Households were less likely to give their largest gift to support capital gifts (e.g. construction of a building or to purchase equipment) in 2009 (14.2%) than in 2007 (23.6 %).
The top three reasons why donors reported they stopped giving to a particular charity is because

o They were too frequently solicited or asked inappropriate amount (58.9%)

o They decided to support other causes (34.2%)

o Their household circumstances changed (29.4%)"

”

As an estate planning attorney, I am personally interested in this topic as charitable giving is something many of my clients think about as they plan their estate. The most common vehicle they use is leaving certain percentage of their cash estate to the charity in their trust or will, but also giving specific assets such as jewelry, paintings, unused land is viable option for many.

If you are interested in donating your time or money, check with your favorite organization what you can do to help. Each organization will most likely have their forms on how to donate cash or specific assets in your trust and will. Besides money or volunteering, many organizations need professionals on their Board who have business acumen, specific industry experience or can provide their professional insight how to raise money.

As a final thought, I sense that cautious optimism many non-profits feel about economy and charitable giving is backed by knowledge that we are fortunate that we live right here, in the Coachella Valley, where philanthropy is responsible for building so much of our community, and the spirit is the one of generosity.

If you have a thought on this subject or work with the local non-profit I am curious to know your opinion. Please comment below or message me privately at daryl@binkleylaw.com.

Photo below: My wife Ana & I @ 2011 Zoobilee 2011 benefiting Living Desert

Entrepreneurial Scholarship Awarded to Palm Desert High Student

Daryl Binkley — Thu, 19 May 2011 12:43:22 -0800

As anyone that knows me can attest to, I love entrepreneurs. My wife would tell you I was an entrepreneur since I was in diapers...

Today, I am surrounded by a good number of them, and many of them are friends. I work, network and support that entrepreneurial spirit in others...So when a networking group of entrepreneurs I am involved in (current Vice President of the BNI Desert Professionals--Rancho Mirage Chapter) was thinking about charitable giving I was particularly interested in supporting young entrepreneurs.

So this year, I am pleased that our group of 17 business owners awarded our first Rancho Mirage BNI Chapter Entrepreneurial Scholarship of $1,750.00 to Jensen Bryant of Palm Desert High School. He is an amazing young man--Eagle Scout, extremely high academics, and has an entrepreneurial spirit!

I see only blue skies and a bright future here. Congrats Jensen! As a member of the scholarship committee, he made our selection process much easier.

As a father of a 5 year-old, I feel strongly about education and the need for scholarships to qualified candidates that my law office gave $500.00 to the scholarship fund. Our chapter overall gave $500.00 from its "kitty" and a few other business owners in the group combined contribution was the other $750.00. I hope that this is just the beginning of our new tradition.

At the Senior Scholarship Awards Ceremony -- Miramonte Resort in Indian Wells, CA on May 17, 2011
Pictured from the left: Maria Dobkin (co-owner of Mr. Rooter Plumbing Palm Desert) Ana Radisic (Law Office of Daryl Binkley) Jensen Bryant (winner of BNI Desert Professionals 1st Entrepreneurial Scholarship) Daryl Binkley, Attorney & David Dobkin (Owner of Mr. Rooter Plumbing Palm Desert)

Spotlight On: Tutti Frutti Palm Springs

Daryl Binkley — Tue, 15 Mar 2011 10:07:42 -0800

Amid all the bad news about economy, I love hearing the good news about entrepreneurs and start-ups making their own mark and taking charge. Just recently released report by Kauffman Foundation ranks California among the nation's leaders in start-up businesses. According to the recent article, “More people hung their shingles and started businesses in 2010 than at any time in more than a decade.” Most of them started business with very little or no help/employees as this Inc. article points out.

We caught up with Yon, the owner of the recently opened Tutti Frutti of Palm Springs to chat about yogurt, business and favorite places in Palm Springs.

Q: How did you decide on starting this venture?

A: I decided to open my own frozen yogurt store after working many years in the Real Estate and Mortgage industry. When the mortgage melt-down and the economy went bad, things got very stressful. I had well-qualified clients I couldn’t get the loan for, while others had to give up their homes. I wanted to get out of that and go into something that was fun, made people happy and could still pour my energy into. I was always happy when I visited self-serve yogurt shops in Long Beach area with my kids. I really enjoy being my own boss and make customers happy as they have their first bite of my fresh creamy yogurt.

Q: What is your business motto or philosophy?

A: Always put the customer first

Q: Your favorite places to hang out in Palm Springs?

A: Personal favorites include looking down from the Aerial Tramway or The Grind and casting for lunch over at Fisherman's.

Q: It turns out indulging in yogurt is healthy--can you tell me a bit more about health-benefits of yogurt?

A: Tutti Frutti is a healthier desert choice than many other treats because it is non- fat, you can control the portion size and you can top it off with some of our fresh fruits or nuts.

Q: And the most important question- what is your favorite flavor?

A: My favorite flavor is one of the tart based ones mixed and blended with fresh fruits like Mango, or a vanilla based one like Taro and or Pistachio

To learn more about Tutti Frutti check out their website http://tuttifruittips.com/

Photo of Ribbon Cutting Ceremony at Tutti Frutti Palm Springs
Yon Pictured on the Left Side of the big Scissors

Around Town: Enjoying Palm Springs International Film Festival

Daryl Binkley — Mon, 10 Jan 2011 19:28:45 -0800

The past weekend was one those amazing weekends to remember. My wife and I attended the 22nd annual Palm Springs International Film Festival. It was my first time attending the PSIFF Awards Gala & After-Party (@ The Parker) and we were completely blown-away by the scale of this event and the professionalism with which it was orchestrated. About 1800 attendees, along with so many Hollywood stars that were also there--the event really felt like a pre-Oscar party with the buzz to boot. Everyone from the organizers (Palm Springs International Film Society) to host Mary Heart made this into a world-class event in Palm Springs. And the event raised a reportedly $1.3 million for the Palm Springs Film Society. Not too shabby for our little town, eh? I think this is definitely an event that desert residents can be proud to have in their community. Check this article from the Desert Sun about the event.

Also, I would like to add that the Palm Springs Convention Center had their hands full--and they were able to pull off an elegant and intricate event--and from my perspective it was a great event.

Estate Planning Celebrity Style: 4 Steps to Protect your Privacy like a Celebrity

Daryl Binkley — Wed, 05 Jan 2011 09:21:22 -0800

Coveted as the most glamorous event of the year in the Coachella Valley, the 22nd Annual “Palm Springs International Film Festival” will be starting this week. This will include a Black-Tie gala, screenings of films from all around the world, seminars and talks by directors, and a myriad of other events.

For a week or so, this would be the place to see some celebrities, see the movies and talk about their work and the upcoming Oscars. Note the Film Festival is a result of "The Palm Springs International Film Society is a 501(c)(3) charitable non-profit organization whose mission is to cultivate and promote the art and science of film through education and cross-cultural awareness."

Much of what celebrities, such as Natalie Portman, Colin Firth and Ben Affleck, will wear and look like will be talked about in the press. But one aspect of what celebrities do regarding their assets might not be covered so much. Given so much attention they get in the news (and from the paparazzi) generally they do take some steps to make your search for where they live and what they own a bit harder.

If you own a piece of real estate or two, or more (you probably know this already) it would be fairly easy for anyone to type in your name in google or many of the real estate websites (such as blockshopper.com) and find out what real estate you own and even a pretty good approximation of the purchase price (if the transaction was relatively recent). With one or more clicks of a mouse, google satellite map can show you how your house looks like and even what car you drive in front of your house. A little creepy, isn’t it? And apparently has caught some people in the aerial photos, too.

This information was always in the public records—but now the Internet has made this search extra easy. So what are things celebrities might do to protect their privacy, and that you may research more about as to whether you would like to incorporate as well (although it may be somewhat cost prohibitive for normal people):

1. Your home doesn’t need to be under your personal name, it can be under the name of a business entity—which might add an extra layer of privacy, and an extra layer of cost to your yearly budget. Note, this may or may not be incorporated into an Asset Protection plan, but for this discussion, we are using an entity, such as an LLC only for privacy purposes and NOT for Asset Protection (that would require many more Blogs to discuss). So someone just searching under your name would not be able to find real estate (assuming you have used an additional “Manager” in the business entity to have capacity to hold legal title, which could be another entity within an entity).

2. If you own many properties, such as rental properties you can utilize the LLC formation to manage one or all of them, or have multiple LLC’s and there are formations such as serial LLC’s. Each real estate property will then not show up under your name but the name of LLC. This is commonly used by serious and/or serial real estate investors—i.e. investors of commercial real estate.

3. There is also the option of using trusts to create a layer of protection, but this is generally not done by the public. For example if the name of the trust is your name and you are the trustee that will not be much privacy. However, you could be more creative with the naming of the trust, and consider using another trustee named for the purpose of holding title. Another benefit of the Trust is that it is a probate avoidance device, so that upon the Trustor’s death (the person(s) that set up the trust), probate court proceedings should not be necessary. A probate involves court proceeding that are generally open to the public.

4. Check your online identities, google yourself periodically to see what shows up. If you have any social media sites (such as Facebook) check the privacy settings to ensure that your personal information stays intact.

Taking these steps can involve costs, additional administrative steps, and some other pitfalls. So anyone wanting to take any of these steps should seek legal counsel to discuss their personal situation. Further, this discussion is not about trying to protect your privacy to avoid creditors—that can be a serious mistake to attempt to do that—such as being fraudulent transfers.

Also on a personal note, my wife and I are excited to be attending some of the festivities of the PSIFF and to have donated to the underlying great non-profit organization. Attendance at many, if not all of the events includes a donation to the Palm Springs International Film Festival.