Five Fact Friday – January 14, 2022

This week we’ve got a double whammy for you all! Tech? Legal? BOTH?! We’ll be talking about how to pass on your data to loved ones with the new iPhone digital legacy feature.

We’ll also be paying tribute to a true legend, Betty White! Her top 20 best moments are linked below!

Five Fact Friday is every other week. Subscribe so you never miss one!





Golden Girls Retirement Article:

Full Transcription Below

It’s 2022, the first Five Fact Friday of the year, and I’ve got a show-and-tell. Would you like to know how to make sure that after you pass away, someone can still access your iPhone when you’re gone, or maybe would you like to. Well, I’ve got that tip and more because I’m Victor Medina and this is Five Fact Friday.

Hey, everybody. Welcome to the first Five Fact Friday of 2022. I am so excited to join you again in this new year, and we have some really exciting news. The Medina Law Group and Palante Wealth Advisor family is growing. That’s right. We’re adding more people to our team to be able to help more and more folks with their retirement and their legal planning and I have a couple of announcements for you. We’ve got two new team members that have joined us. That is gonna help us expand our ability to serve our clients more and more. The first one actually joined us in July of this last year, and you may have met him if you reached out to us on some of our Medicare planning. His name is Jay Leon, and he has 30 years experience in the financial field. He’s joining us as a financial advisor to help more of our clients do their retirement planning. And just starting this week is Darshan Patel. Now Darshan has got over 10 years experience in the legal arena most recently working for a super large brokerage house in their trust and estates department. I can’t tell you how excited I am to add another lawyer so that we can also expand our estate planning and our elder law planning services. So that’s a little commercial for today. Our firm is growing. It’s never been a better time to reach out to us to see if we can help you put your affairs in order and help protect your nest egg as you go into retirement. We are open for business and welcoming new clients. We’d love the opportunity to chat with you some more. Let’s get to the links for this week cause we’ve got some great ones, including a show-and-tell. So I’m really excited about that. Actually gonna save it for the end.

The first link is what I’m reading and it’s an article about the first 3D-printed house, that’s actually part of a Habitat for Humanity project. Now you may not know this, but Habitat for Humanity is not give away houses. There’s actually a couple of components to getting a house from Habitat from Humanity. The first is that you actually have to buy it. They sell it to you with a no interest traditional mortgage 20,30 years. But the second component is that you have to put in your 300 hours of sweat equity. What’s really cool about this one is that this is the first 3D-printed house that they’re giving away. And they’re also giving away a 3D printer so that if something breaks inside of the house, the owner can fix it. She was really excited to get it. I think you should check out that article.

What I’m watching is, unfortunately, we’ve lost Betty White just coming into the new year and she was just somebody that was so well-regarded in the entire industry, not just in terms of convenience, but also in terms of social change agents as well. I’ll never forget one of the statements that she was making, when she talked about whether or not she was gonna play a particular club, because she had somebody who was a dancer that was African-American and they weren’t gonna be let in and she refused to perform unless they had an opportunity to perform as well. Well, actually it’s a video clip of the best Betty White moments. I was actually reminded of Betty White recently when I was quoted in an article about eight typical ways to do retirement. I talked about how you might retire overseas, but the picture for it was actually a picture of the Golden Girl, of course she was a star on that show. It’s a pretty cool video. I think you should check it out.

Now, this next one is actually a combination of what’s new in tech and what’s new in legal. And it’s a new feature to the Apple Operating System 15.2, that allows you to add a legacy contact so that if you pass away, you signify who can take over or access your phone at the end. As I promised, we’re gonna have a show-and-tell on that at the end.

And the last link for this week is what’s new in retirement. And it’s actually a set of sort of thinking and strategies around how to plan in uncertain times. There’s a certain methodology of five different things because projecting out into the future is not one of the things that’s really comfortable for people to do, especially in uncertain times. And so what this article does, is actually walks through a way of planning specifically for retirement so that you can get some peace of mind that your plan will work no matter what the circumstances are. Now, as I promised, I’ve got the show-and-tell for you on how to add a legacy contact. Let me go to the iPhone. Alright. So, what I have here is my iPhone. All right, you can ask me about my Apps if you would like, but what I want you to do is go into the settings App, which is actually the top gear on the right-hand side on the top row. It’s the settings up here. And then if you tap in there, the next thing you’re gonna do, is gonna tap on your name. Mine looks probably a little bit different cause I operate in dark mode, which helps my eyes. But if I click on my name, which is the only picture there, it’s gonna bring me to the next menu. And second item down is password and insecurity. If you click on that, it will bring you down and you can scroll down and towards the bottom, you see where it says, ‘legacy contact.’ If you click on that, it will let you add a legacy contact. In fact, it says your legacy contact can access and download data from your account after your death. And there’s a click for learn more. The friends and family that have added you as a legacy contact will appear here. So if anybody added you, they would be on here as well. So I’m actually gonna do it cause you can see that nothing has been added. Now I’ve been saving it for the video. If I click on the plus button for add legacy contact, it’s actually gonna give me a little bit of a warning from there. But after I click legacy contact and it’s authenticated me with my face, it’s gonna give me a series of options from my family. So you can fact see that I’ve got a number of family members, as well as the business account here. If I click on my wife’s name there and I click next, it’s gonna give me access to my digital legacy, hit continue. And once that’s done, hopefully this will go quickly after this. It will be able to share the access key, and I can either do it by sending a message Or I can print a copy of that. And that will give them the access to the information to be able to access this if something were to happen. I’d never thought there would be a better marriage of technology and estate planning for an Apple fan boy like me, like being able to show-and-tell this to you. So it’s a really, really cool feature. I think everybody with an iPhone, especially my older clients, should go ahead and do that because we’ve often run into situation where we’ve had some password scrolled on a sticky note someplace that has to be found afterwards, or we’ve lost all of this information together forever. And that actually can be really sad for things like photos. We wanna be able to add an access to photos as well. So this legacy contact is really a cool, cool feature, but remember you do have to have the most updated operating system which is 15.2. In order to do that, you gotta go into the settings App and the software update, and you gotta add everything in there. But once you’ve got it in there, just follow the instructions just as I’ve shown you, and you’ll be able to access or add a legacy contact for your phone, which I think is super super neat, by the way, it’s not just for your phone, but it’s for anything that’s on your iCloud account. So while they have it on the phone, it’ll be there also for your iPad or any of your other i Devices.

So let’s do a quick recap for the week. The first link is what I’m reading and it’s about a new 3D-printed house as part of the habitat for humanity. The second link is what I’m watching, which is a clip of the best Betty White moments. The third and the fourth link for what’s new in tech and what’s new in legal is this access to the legacy context for your iPhone. And finally, what’s new in retirement is how to plan in uncertain times. As a reminder, we are celebrating the addition of Shaun Patel as a lawyer to the Medina law group and Jay Leon, as a financial advisor to Palante wealth advisors, our firm just continues to grow, to be able to serve more and more people in the greater move for bucks county area, in fact, all across the country. So if you are in a situation where you think you might wanna talk to us about retirement planning, we would welcome the opportunity to speak with you. It is the beginning of 2022. I am so excited to bring you the first five fact Friday and stay tuned for a whole lot more. We’ll catch you soon. Bye-bye.