I love to golf. I don’t get out too often, so my skills…well, reflect that. When I do play, it’s often in a tournament. My favorite tournament format is the scramble. As you may know, in a scramble format, you take the best-hit ball of your foursome and play from that spot. Not only does that format undoubtedly help my score (sometimes, significantly), but it allows me to interact with a mix of people and hear some great stories and learn a few lessons. A few years ago, I had the opportunity to … [Read more...] about Hold, But Don’t Choke
Thompson Law, PLLC. was one of the sponsors of Cleaver’s “Best in Beef” Chef Challenge, held at The District in Sioux Falls on January 17th. Proceeds from the event benefited the Children’s Home Society. The event had 225 guests and raised over $7,655 for the Children’s Home Society. Top chefs from around the area competed for honors. Guests sampled each of the twelve dishes and voted for their favorite by placing a gold token in the corresponding chef’s vase. The winners were determined by the … [Read more...] about Cleaver’s Chef Challenge Raises Over $7,655 for the Children’s Home Society
Christmas Greetings! How I have missed you - my clients and friends - as I have been in Houston receiving cancer treatment. Whether I've had the opportunity to meet with you personally, or you've met with another Thompson Law attorney, you may have heard about my health journey this year. If you have a few minutes, please enjoy the attached video message that I am so excited to share about my return home to Sioux Falls. Even though I am doing very well medically-speaking, I do not have a … [Read more...] about Special Holiday Message from Carolyn Thompson
If I had a dollar for every time I heard people say, "We didn't have $5 million, so we assumed we didn't need an Estate Plan,” then I would likely have $5 million! Estate planning is not all about estate taxes. In fact, the majority of our clients do not even have estate tax issues. With the federal estate tax exemption in 2014 at $5,340,000, and scheduled to be indexed for inflation, many married couples have assets below $10,680,000, and estate taxes are not much of a concern. (Of course, … [Read more...] about It’s Not All About Taxes!
A few years ago, I signed up to ride in the Tour de Kota, the 450+ mile bike ride through South Dakota. I signed up thinking it would be a nice bonding opportunity for my then 13-year-old son and me. But there was a problem – I hadn’t ridden a bike since I was a child! The idea of riding 450+ miles was so overwhelming that I didn’t know where to start. So, I started with the bike. I went to a great bike shop in town, and they helped us get the equipment. They offered training tips to help … [Read more...] about Focus on the Next Five: Plan for Now
You’ve heard it before – by the numbers, women live longer than men. For instance, in South Dakota, the current life expectancy of a man is 76.6 years, while the current life expectancy of a woman is 82.4 years. While it is certainly not that way in every case, the loss of a loved one and the fear of what the future holds for the surviving spouse can be overwhelming. Having an estate plan in place that sets forth a plan for some of the unknowns can be a source of great comfort for those who are … [Read more...] about The Widow’s Story
When my only daughter, Rachel, was in third grade at a public school, she was asked to complete the following statement as part of Martin Luther King Day: “I have a dream that…”. She completed her statement by saying “I have a dream that everyone would come to know the Lord.” Now, several years later, thinking of her dream for the world still brings tears to my eyes. While I share my daughter’s dream for all people, I have a dream for the families we serve as well. I have designed thousands … [Read more...] about Keeping a Family a Family
I love visiting Mount Rushmore – what an awe-inspiring, national treasure right here in South Dakota! Did you know it was originally described to the artist as a plan to feature Western figures like Lewis and Clark and Buffalo Bill? But Gutzon Borglum, the sculptor, chose instead to sculpt something that would incite national interest. The project was primarily funded privately until President Coolidge spent the summer of 1927 in the Black Hills and was so impressed with Borglum’s vision for … [Read more...] about Your History Should Not be a Mystery
We have a principle in our office simply called The Clarity, Certainty, Simplicity Principle. Each of our team members has this Thompson Law principle permanently affixed to their work-space as a reminder to be clear, straightforward, and definitive in every communication we have with each other and with those who contact our office. The Thompson Law, PC team members believe that a message which meets all 3 components reduces confusion and provides peace of mind in making decisions. It’s a … [Read more...] about Is your plan really a plan?
Prenuptial agreements aren't just for Hollywood marriages anymore. Farmers and ranchers – and their heirs -- should probably be using them, too, says Carolyn Thompson, a Sioux Falls estate planning attorney. "While it can be exciting to see heirs get married and expand the family tree, it can be devastating if the marriage doesn't last or if an untimely death leaves the land or business open to an elective share claim (or worse yet if the land or business owner dies "intestate" without a will … [Read more...] about Prenups Down On The Farm