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Common Misconceptions About Estate Planning
August 30, 2018
Expanded 529 Plans
November 20, 2018
Published by Richard K. Abraham, Esquire on October 26, 2018
Categories
  • Aging
Tags

The following is a poem, (author unknown). It was found in Paul “Bear” Bryant (the legendary Alabama football coach’s) wallet. The Poem is entitled “The Magic Bank Account”.


Imagine that you had won the following *PRIZE* in a contest. Each morning your bank would deposit $86,400 in your private account for your use.


However, this prize the following rules:

  1. Everything that you didn’t spend during each day would be taken away from you.
  2. You may not simply transfer money into some other account.
  3. You may only spend It.
  4. Each morning, the bank opens your account with another deposit of $86,400 for that day.
  5. The bank can end the game without warning; at any time, it can say, “Game Over!” It can close the account and you will not receive a new one.

What will you personally do?

Would you buy anything and everything you wanted? Not only for yourself, but for all the people you love and care for? Even for people you don’t know, because you couldn’t possibly spend it all on yourself, right?

You would try to spend every penny, and use it all, because you knew it would be replenished in the morning, right?

Actually this GAME is REAL… Shocked??? YES!

Each of us is already a winner of this *PRIZE*. We just can’t seem to see it.


The Prize is TIME

  1. Each morning we awaken to receive 86,400 seconds as a gift of life.
  2. And when we go to sleep at night, any remaining time is not credited to us.
  3. What we haven’t used up that day is forever lost.
  4. Yesterday is forever gone.
  5. Each morning the account is refilled, but the bank can dissolve your account at any time without warning.

So, what will you do with your 86,400 seconds?

Those seconds are worth so much more than the same amount in dollars. Think about it and remember to enjoy every second of your life, because time races by so much quicker than you think.

So take care of yourself, BE HAPPY, love deeply and enjoy life!

Here’s wishing you a wonderful and beautiful day.


Start spending and remember…don’t complain about growing old! Some people don’t get the privilege!

For more information, contact the Law Firm of Abraham & Bauer.

Planning ahead is a gift to your loved ones!

Richard K. Abraham, Esquire
Richard K. Abraham, Esquire

Mr. Abraham is an experienced attorney and founding member of the Law Office of Richard K. Abraham. The Sparks, MD office of the firm concentrates its practice in Estate Planning, Elder Law, Probate, Medical Assistance (Medicaid), Guardianship, Asset Preservation and Fiduciary Representation.

He is an active member in a number of professional organizations that focus on law, the senior community, and estate planning. He works with clients in Central Maryland, especially in Towson, Hunt Valley, Lutherville/Timonium, Parkville, White Marsh, Bel Air & Northern Baltimore City.

Schedule a consultation to help you and your loved ones.

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Richard K. Abraham, Esquire
Mr. Abraham is an experienced attorney and founding member of the Law Office of Richard K. Abraham. The Sparks, MD office of the firm concentrates its practice in Estate Planning, Elder Law, Probate, Medical Assistance (Medicaid), Guardianship, Asset Preservation and Fiduciary Representation. He is an active member in a number of professional organizations that focus on law, the senior community, and estate planning. He works with clients in Central Maryland, especially in Towson, Hunt Valley, Lutherville/Timonium, Parkville, White Marsh, Bel Air & Northern Baltimore City. Schedule a consultation to help you and your loved ones.

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