PI+ Press Release

FOR IMMEDIATE RELEASE
Contact: Pat Wardian
Telephone: 208-664-8980
Email: pat@wardianwealth.com

PERSONAL INJURY LAWSUITS HAVE NEW RESOURCE TEAM

Personal Injury Plus, also known as PI+, has been formed to provide litigation support and case management for personal injury lawsuits. Personal injury claimants and their attorneys now have a new resource with which to maximize settlement dollars, mitigate attorney fiduciary liability, and provide ethical pre and post settlement case management that is claimant centered. This resource team made up of Pat Wardian, Steve Masterson, and Dan Brownell has over 75 years of combined experience and expertise.

Pat Wardian is President and CEO of Wardian Wealth Management and Wardian Insurance. Wardian is an Investment Advisor Representative who specializes in the Lifetime Income Planning Asset Cycle Portfolio System ® which utilizes formulaic investing strategies and annuities in the area of retirement planning. As part of PI+, Wardian provides claimants and their attorneys with asset management advice and services, wealth preservation planning, and asset protection planning.

Steve Masterson, President of Trust Solutions, has over 28 years experience managing a wide variety of trust and estate assets, designing estate plans for high net worth clients, and creating custom financial solutions for unique family circumstances. Steve is a private fiduciary, a Trust consultant, and an expert witness in fiduciary litigation. As part of PI+, Masterson provides Trust Solutions as a more advantageous alternative to traditional structured settlements.

Dan Brownell is a Rehabilitation Consultant who spent 29 years working in the Rehabilitation Division of the Idaho Industrial Commission. Brownell is a Certified Environmental Access Consultant, was a key part of the Idaho Assistive Technology Project, and played an early role with Transitional Employment Services for the Handicapped (TESH). As part of PI+, Brownell provides claimants and their attorneys with vocational assessments, employability reports, specialized job placement assistance, ergonomic and assistive technology analysis, home industrial environmental access evaluations, and home durable medical supply and installation services. Brownell also serves as an expert witness.

PI+ is an affiliation between Pat Wardian, Steve Masterson, and Dan Brownell, none of whom are attorneys. Neither PI+ nor any of its affiliates offer legal advice or representation.

Attorneys and Personal Injury claimants may contact Pat Wardian at 208-664-8980 in order to realize the benefits of this team of professionals. Initial consultation is complementary.

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Choosing a Trustee – What Characteristics are Needed?

Those Grantors who don’t struggle with the selection of a Trustee probably should.  I’ll confess that poor Trustee selection creates revenue opportunities for me, either through the cost of cleaning up a Trust mess or as an expert witness in Trust litigation.  It would be better for all, though, if every Grantor chose a person or institution as a Trustee based on having the characteristics needed to serve well.

Here is a practical article that outlines the basic characteristics a Trustee should have:

Selection of a Trustee….A Search for Wisdom

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Estate Planning for Digital Assets

Oddly, Idaho and Oklahoma are the only two states that have statutory provisions for the probate of digital assets.  Increasingly, estate planners are going to need to consider ways to protect and pass along digital assets.  Here is a great article on estate planning for digital assets.  The link will take you to a free .pdf download.

Estate Planning for Digital Assets

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Form and Substance: Estate of Paul H. Liljestrand v. Commissioner

Form and substance are equally important which, while having specific application to the failed family limited partnership discussed in the article linked below, has broader philosophical application in life. But that is the subject of another blog.

Estate planners must assure that both form and substance are implemented thoroughly so that plans work the way intended.  Question: do the attorneys in this case have some fiduciary exposure?

Family Limited Partnerships Require Good Planning and Execution

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Too Many Eggs in the Trustee’s Basket

I recently worked on a piece of trust litigation where the deceased Grantor of a Trust restricted the ability of the Trustee to sell a leveraged asset that comprised > 95% of the Trust’s assets.  Regardless of the Grantor’s intentions, he did the Trustee no favors resulting, of course, in a lawsuit by one of the income beneficiaries.  Still, the Trustee had a duty to manage the asset in a way that complied with the Uniform Prudent Investor Act despite the restrictions.  This one was a lawsuit waiting to happen from day one.

Here is a good Barron’s article dealing with how a Trustee can manage concentrations of assets in a Trust, or how a Grantor can give the Trustee more flexibility.

Warning: Too Many Eggs in One Basket

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Reblog: The Seven Deadly Sins of the Market

As if last week’s (week ending 23 September 2011) turbulence on the world’s stock markets wasn’t enough of an emotional rollercoaster for millions of mark participant’s, we will offer only one bit of reflection this morning on the market conditions.

Remember, the markets live, breath and die by the age old human conditions (seven deadly sins) of:

  • Greed / Avarice (Avaritia)
  • Envy (invidia)
  • Gluttony (gula)
  • Sloth (acedia)
  • Wrath (ira)
  • Pride (superbia)
  • Lust (luxuria

Therefore, the markets are Harsh, as we have written about before, however markets are still the most open, free and fair way to allocate resources, as we are reaching out to establish with our ‘The Market eQuation’, investigation.

All this activity we hope and trust will lead to a new understanding of the market which we will call:

Unbounded Market Rationality

theMarketSoul ©2011

theMarketSoul ©1999 - 2021

As if last week’s (week ending 23 September 2011) turbulence on the world’s stock markets wasn’t enough of an emotional rollercoaster for millions of market participant’s, we will offer only one bit of reflection this morning on the market conditions.

Remember, the markets live, breath and die by the age old human conditions (seven deadly sins) of:

  • Greed / Avarice (Avaritia)
  • Envy (invidia)
  • Gluttony (gula)
  • Sloth (acedia)
  • Wrath (ira)
  • Pride (superbia)
  • Lust (luxuria

Therefore, the markets are Harsh, as we have written about before, however markets are still the most open, free and fair way to allocate resources, as we are reaching out to establish with our ‘The Market eQuation’, investigation.

All this activity we hope and trust will lead to a new understanding of the market which we will call:

Unbounded…

View original post 4 more words

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US Rankings for Startup Companies

Normally this blog is focused on estate, trust, and related financial and tax  issues.  But I’m self-employed and I am a minority owner in an unrelated start up company, so public issues dealing with the economics of start up companies draw my interest.

Below is a link to the results of the most recent World Bank ranking of economies around the world.  Note my observations:

1.     The US is ranked 13th in the world when it comes to the ease of starting a new company, even though it is 4th overall in ease of doing business generally.  This means that the US economy is structured (primary due to politics, e.g., unions) to benefit large established companies, not startups.

2.     The US is ranked 72nd in terms of taxes.  This is bad, because the lower the ranking the worse the tax burden on business.  71 countries around the world have a more competitive tax structure for business than the US.

3.     The US is ranked 20th in cross border trade.  Trade creates jobs on both sides of the border. 19 countries around the world have a more favorable cross border trade structure than the US.

4.     The US is 17th when it comes to business access to utilities and the construction permitting process.

Historically, economic growth coming out of a recession is led by small business, particularly start ups where entrepreneurs are willing to take risks with their skills and capital.  If we want our economy to turn around, the US has to make the economic environment more favorable to start up companies.  The rest of the world is leaving us behind.

Economy Rankings

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Cost Basis Research

For the accountants and attorneys out there, here is a link to a great resource for researching the cost basis of investments.  I’ve done this manually many times in the past and its quite a chore, particularly where there are stock splits, reinvested dividends, spin-offs, etc.

Your Old Money

 

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Is the Trustee you’ve selected qualified and prepared?

Excellent guidelines to use in choosing the appropriate Trustee for your trust(s).  The answer is not as simple as you would think.

Who is Fit to Be Trustee?

Ask me about Trustee Scorecard (TM)

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“Inheritances are an equalizing force that mitigates the inequalities found in American household wealth.”  Sounds counter intuitive, but check out this article and study:

Debunking the “Sin” of Inheritance

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