Sandwich Generation Planning

PBJ, ham and cheese, roast beef.  While these all sound delicious, these are not the kind of sandwiches we are talking about.

Individuals who are in the stage of life where they are working hard to provide bright futures for their children, while also caring for their aging parents or loved ones, are called the sandwich generation.  Many people in this generation bear enormous burdens financially, physically and emotionally to fulfill their family obligations.

We work regularly with our clients to understand sound planning for children and minors, connecting them with the right financial tools and drafting estate planning provisions to allow young children to have a successful life.  At the same time, we work with our clients to understand what their options are in working with their parents as they age.  We focus on protecting assets, maximizing parents’ accessibility to government funding and services, and ensuring that our clients have the proper authority to act on a parent’s or loved one’s behalf when necessary.   Sometimes, this means transitioning business interests, selling assets, and moving residences, which can be major tasks.  Proper planning often opens up resources that most people are not aware are available to them and makes the sandwich phase a little less pressing for our clients.

We welcome the opportunity to discuss your multi-generational planning needs.

Prenuptial Agreements: Planning for Failure or Planning for Success

Prenuptial agreements, also referred to as antenuptial agreements, are often viewed in a negative manner and are thought to be “planning for failure” or “admitting that the marriage will end in divorce.”  While it’s true that half of all marriages end in divorce, if done correctly, a prenuptial agreement can actually strengthen a relationship because it causes the couple to disclose information to each other and discuss financial issues before they become an issue or problem.

Many people enter into a marriage without having any knowledge of the financial condition of their partner.  Entering into a prenuptial agreement, or at the very least discussing the possibility of a prenuptial agreement, requires both sides in a relationship to disclose financial information.  Finances are a common issue people either do not discuss, or worse, intentionally ignore, and ultimately one of the top reasons why couples end up divorced.  A well drafted prenuptial agreement can simplify a stressful situation in the future and prevent a long, costly legal battle.  On the other hand, it can also strengthen a relationship by discussing ahead of time what your financial obligations during a marriage or in a divorce will be… taking out the unknown of the future.

A common misconception is that prenuptial agreements are only for wealthy couples, or when one person has substantially more assets than the other in the relationship.  While it is true that we strongly encourage our clients who, for example, own their own business or have high incomes or the potential to earn a high income, to enter into prenuptial agreements, there is no harm in the “average” couple having a prenuptial agreement as well.  Prenuptial agreements are not able to address concerns such as custody or visitation with current or future children, but they can address ownership of real and personal property, allocation of debt from before the marriage, and/or financial responsibilities during the marriage.  These are things that all couples have, no matter how much or how little.

Discussing finances, including income(s), debt, and assets, before a couple enters into a marriage can help alleviate concerns that one person may have, and also aids in establishing expectations for both people.  This “crash course” in communication (prior to walking down the aisle) over something potentially stressful, can hopefully reduce any tension over money during the marriage.

Entering into a prenuptial agreement is better thought of as planning for success during a marriage and should not be considered “planning for failure.”  If you are ready to take those steps to plan for your future, please contact the attorneys at Thomas Law Group for assistance.

Thomas Law Group Continues to Expand

We are happy to announce that Nikki Mesnard, a member of Thomas Law Group since 2015, is expanding her practice to serve both clients of Thomas Law Group and also clients from the Bexley and near Bexley area. In her new role as of counsel with TLG, she is expanding TLG’s presence in the east side of Columbus.

Attorney Mesnard is committed to providing the same great service and legal advice that you expect from the attorneys at Thomas Law Group. We are excited for these changes at TLG as we continue to branch out and expand the services that we are able to provide to our loyal clients.

Thomas Law Group Celebrates 30 Years of Service in Dublin, Ohio

In 1987, our founder, Terry Thomas, having practiced with a small law firm in Dublin for the previous two years, started Thomas Law Group. With a rented second story space, one computer with a whopping memory of 20 megabytes, and one young, inexperienced assistant, Thomas Law Group was born.

Over the next few years, more equipment was purchased, more people were hired, and the business flourished. We are happy to say that now, 30 years later, Thomas Law Group has grown to six full and part-time attorneys, three experienced paralegals, and we are located in a beautiful building on Blazer Parkway. We continue to provide what we believe is some of the best legal services that you can find. While Terry Thomas is not very active in the firm any more, since he has earned the right at age 70 to spend less time in the office, we do still see him puttering around from time to time making sure that his “baby” is still doing well. That “baby” has grown into a 30 year old and the attorneys here at Thomas Law Group are doing a terrific job carrying on the tradition of commitment and excellence.

We want to thank you, our loyal clients, and particularly the Dublin community, for the confidence that you have had in Thomas Law Group over the years and for your continued patronage. We continue to promise that we will work diligently and professionally to address your legal needs. Thank you so much for allowing us to grow to where we are today. We look forward to continued growth with a focus on service to you, the Dublin community, in the future.

The Generational Divide

Texting vs. Face to face meeting
Cell phone vs. Landlines
Instagram vs. Polaroids (although those are making a comeback)
E-mail vs. Stationary

On any given day at Thomas Law Group, we will receive a hand written letter with requests to update a document via snail mail as well as text messages letting our attorneys know to send a client another document or counteroffer with a lower number. This is just an example of some of the differences we see in millennial clients vs. baby boomer clients. We counsel and advise differently for each generation. Why? Because every client handles business and personal matters differently and we strive to accommodate everyone from the fast moving millennial to the experienced baby boomer.

Just as we need to appreciate the different demands and requests of each generation, so do you when negotiating a purchase contract or employment agreement with the other party. For starters, know your opponent. We often see that those fast paced millennials are comfortable obtaining just enough information from us to make an informed decision and enjoy negotiating on their own. So elder seller, recognize that the younger buyer would prefer to work directly with you, over texting or e-mail if possible. And younger associate, understand that the senior doctor wants to get to know you over coffee, perhaps, and not read about you on Facebook or see what you are up to on Instagram.

Healthy negotiating requires finding a balance between the millennial and baby boomer generation gaps. The attorneys at Thomas Law Group strive to assist our clients with making these transitions happen seamlessly.