Hey, everybody welcome back to Five Fact Friday, the newsletter that is sponsored by the Medina Law group and Palante Wealth: Your one home for retirement and estate planning. First, I wanted to talk about some special news that is coming up because we are going to be relaunching our seminar series.
So, in the past, I don’t know, eight or 10 years, we’ve hosted seminars just about every month. Of course, those have been put on the shelf because of the pandemic that happened. But now as the world has been reopening and that we know that outdoor gatherings are a safe way for people to come together, we’re going to be hosting a series of seminars on our property, underneath the big tent that we’ve created. And it was going to have limited capacity. So what we’re going to do is we’re going to bring in about 20 people at a time, it’s going to be outdoors. We’re going to be following all of the correct social distancing and masquerading protocols that we should, but we’re going to be covering things that a lot of people have been asking us about, which is how to make sure that they’ve got their ducks in a row, no matter what they’re thinking about, whether it’s a state planning or retirement planning, how do they know that they’re going to be prepared for what might be a second wave of the challenges that are gonna be coming forward? So what we did is we figured we could host a couple of seminars that are going to be here on our property, give some individually wrapped meals as part of what we’re doing and just bring people together as a way to do that. So if you’re interested in attending that you should reply to this email and we’ll get you in front of Katie who will get you registered because these are limited capacity. So if you register for a slot, you’ll have a table that’s just for you. And it’s one of the number of limited slots that are on there, so we do encourage you to register and register early. These are going to be on August 25th and 27th later in the afternoon when the sun’s gone down a little bit and we’ve got a little better chance of getting some decent and tolerable weather.
So let’s get to the links for this week. The first link that we usually go through is what I’m reading, and this is a link about first people, first time RVers tips and tricks. And guess what, I was a first time RVer. Just recently, we rented an RV to take a trip with our family and another family, and three other people that we’ve been close with. And at the first glance, it doesn’t sound like it was the wisest thing to do. We’ve been stuck in the house for four months, why would we decide to live in a smaller set of quarters with more people than we normally do? Well, it turns out it was a fantastic trip because it gave us an opportunity to actually be outdoors more than we were in the RV. We’re just outside of Pittsfield, Massachusetts. Got a chance to ride a boat for half a day on the Lake, walk a rail trail, do some fishing and do some whitewater rafting in a company that I really like called Crab Apple and we’d been there a times before. So everyone seemed to enjoy themselves. It was just a Sunday through Wednesday trip, and we thought, “Well, is that enough to really be a vacation?” But everybody came recharged, and so I will give you my one tip or trick off of that, which is not something that’s in the link and it’s this, rather than renting the RV here in New Jersey and hauling all the way up to the campsite, I actually just rented it outside of the campsite by about 30 to 40 minutes, so it gave us a less anxiety-riddled trip to get up there. And then we just connected this big 30 foot trailer to my Toyota and brought it over to the campsite and packed it. Now I am happy to share with you that I parked it in reverse. Well, the first trial, I got it into the slot and I’m kind of proud of that.
The next one is what I am watching. And as you know we have been sending up different space vehicles to be taking pictures of space and specifically Mars. Well, I found a great link that will show you Mars in new 4K, this is definitely a link that you’re going to want to watch on your TV. If you’ve got a YouTube link that you can do streaming for 4K, or some other high definition link, because the pictures are gorgeous.
Next, what’s on my home screen, a lot of people shop online, this isn’t news to you, but more and more people are shopping on platforms like Instagram and companies are doing a great job of being able to showcase what it is they have to offer. They’ll show their stories or they’ll show their posts and people just kind of scroll and scroll over and over. Well, Instagram and Facebook as parents company noticed that and they created a special collections page for people that just want to shop. And so it gives them an opportunity to go almost into an Instagram store of sorts, to be doing the shopping that they want to do.
Now we’ve got two more links first, what’s new in legal. I could have put this in retirement as well, because there are a lot of parts of this that straddle both of those worlds, very much the reason why we straddle both of those worlds in serving our clients. But I wanted to put it under legal because it is around the laws that are going to be changed. And specifically what I’m talking about is Joe Biden has put forth what would be his tax plan. And so, because he is of course, the presumptive nominee on the democratic side, and it looks like there is at least a good chance that he’s going to win as Donald Trump, turns out that we should be paying attention to his tax plan. I want to highlight one of the things that we think is important and one of the reasons why you should be working in an advisor like our firm to be doing proactive planning and it’s this. In his tax plan, he does away with the step-up in basis at death. Now for those of you got a little confused by those words, I’ll explain them to your sort of, in general terms. But many of you are familiar with this concept. If you’ve invested money for a long period of time, maybe even in your home, but you didn’t sell anything when you die, the federal government gave you a reset button so that if your kids sold it the next day, they wouldn’t pay any tax for all of the gain that has been in that asset, whether it was your home or investment or anywhere in anything else in between. Well, Joe Biden’s tax plan does away with that. And what it does is say that there’s going to be carryover basis, basically making it so that your taxes would continue to roll.
And then finally, we’re talking about retirement. It is now coming up on the end of the $600 unemployment bonus. And so we thought it would be a good link to help people coach through what to do. You’d be a great friend to someone by letting them know what they could do if their unemployment stimulus bonus was ending and how they can hope to manage that.
By the way, speaking about being a good friend, don’t forget, we’ve got a three extra for a friend program. So if you have somebody that you would like to benefit by the services that we provide, all you have to do is send them in our direction. And there are three wins that come out of that. First, the person themselves gets a great estate and retirement plan. Second, we’re going to provide a lunch to a local first responders unit. They are still hurting for that and would really appreciate it. So we’re going to do that on our dime in your name. And finally, we’re going to use a local provider to do that. So that’s a restaurant that’s been hit my hard time. So you have somebody that you think might be interested in working with us, you can either refer them directly, or don’t forget, we are going to be hosting those seminars on August 25th and 27th. You could invite them to attend one of those as well.
So look, we can’t wait to see you on August 25th and 27th in one of our outdoor seminars. And if you want any other RV tips, especially how to drain the black and gray water tanks, I learned about that too. Don’t hesitate to respond to the email. Looking forward to catching in a couple of weeks.