A Man on the Move…
When attorney Martin Shenkman saw that the legal and certified public accountant professions were frequently overlooking issues such as estate and financial planning for the 125 million Americans living with a chronic illness, particularly the chronic illness multiple sclerosis, he set out to change that reality in order to raise awareness and funds to end MS.
For Marty, as he is known to his friends, perhaps this empathy was born out of first hand experience when his wife Patti was diagnosed with multiple sclerosis in 2006 and he realized that her diagnosis had triggered changes that forever affected their lives and plans for the future. With that in mind, Marty and Patti educated themselves about living with MS and its potential long term costs, which can be extensive along with all the planning changes.
As they immersed themselves in preparing for the future, Marty applied his estate planning strategies to accommodate for Patti’s chronic illness and the unique unpredictable elements of living with MS. He also made adjustments to his life insurance holdings, trusts and other financial planning tools. Realizing that other families living with MS or other chronic illnesses could benefit from this type of specific estate planning advice, Marty began donating hundreds of hours of his professional time to the Society. “I can give back to the Society by sharing my special expertise.”
His financial skills on strategizing for long term planning in the wake of a chronic illness combined with his dedication to give back to people in need as a volunteer have brought him much recognition in national media such as The Today Show, The New York Times, The Wall Street Journal and this summer in Forbes Magazine.
http://www.forbes.com/forbes/2009/0713/charity-alzheimers-estate-planning-prescriptions.html
Building on the opportunities provided by the Forbes article, he moved forward with developing additional stories highlighting MS, and wherever possible the Society, in Financial Planning “Keep Giving;” in the New York State Bar Association’s “The Good We Do” blog, in a fall supplement for the Wall Street Journal, and in Wealth Management Quarterly as well as an AICPA satellite and radio media tour promoting comprehensive financial planning.
Enhancing media awareness for MS and creative charitable giving is only a part of Marty’s educational strategy and volunteer assistance to the Society as he set out to get chronic illness and the Society representatives on as many bar association program agendas as humanly possible, inviting people with MS, their caregivers and advisors whenever appropriate. The following are just some of the programs Marty has done or is set to do in support of the MS Movement bringing understanding and visibility to the challenges of living with chronic illness:
In August he did a Webinar with financial planners; in September he spoke for an estate planning council on chronic illness; in October with Dr. Kalb of Society he did a teleconference for the American Bar Association on the emotional and psychological impact of MS on estate planning; in November he did a seminar with Dr. La Rocca for the New York State Bar Association on planning for chronic illness.
On December 15 at the Marriott in Teaneck, NJ and December 17 at the Marriott in Whippany, Marty will be co-hosting a seminar on financial, estate and related planning for those with a chronic illness, their caregivers and advisors for the New Jersey Bar Association. This seminar is designed for people with at least $100,000 in investment assets excluding a home who want to learn more about planning for the future when faced with a chronic illness. The seminar will not address financial planning as it relates to government assistance programs. It does offer professional credits for accountants and financial planners. To learn more about these seminars call 201 845-8400 or click here.
In 2010, Marty keeps up his pace to bring awareness about MS and chronic illness to the legal and CPA professions starting February 24 when he chairs a seminar on planning for chronic illness with the NJ Bar’s Institute for Continuing Legal Education; on May 7 for the ABA’s Real Property, Trust & Estate Law Symposium in Philadelphia, PA; and on May 4 for the AICPA at their High Net Worth planning conference in Las Vegas, NV.
“Adjusting to Patti’s diagnosis was difficult at first,” advises Marty, “but we learned to plan around her symptoms. Unfortunately, we also came to realize that despite the high incidence of MS, people who don’t personally live with the disease, don’t have a lot of knowledge, understanding or sensitivity regarding its impact. That can be frustrating.”
Marty’s drive to protect people living with MS and to help fund research for a cure is unflagging. Free estate planning advice for people with chronic disease is available at his website www.laweasy.com. Marty just published a book called Estate Planning for People with a Chronic Condition or Disability (Demos Health). Generously, all royalties will be donated to help those with chronic illness. Marty is also the author of Funding the Cure, a book the Society distributes to potential donors to guide those with ties to MS as to how they can achieve a wide range of personal goals while giving to the Society. Any royalties on this book will be donated to the Society. He has also written numerous articles on financial planning for Momentum.
Some of his Momentum contributions:
Power of Attorney—Your most Important Legal Document
Home Sweet Home Business
Gift Annuities Help the Society and Protect Your Financial Future
“I am passionate about aiding the Society,” says Marty, “not only because we need to fund a cure, but also because of the support they provide to families living with chronic illness. I am always trying to find ways to share my expertise with other people living with MS and chronic illness generally. Planning for the future is complicated and there is a need for educational resources.”
Marty spends his lengthy office hours advising clients on how to best manage their money over their lifetime. His practice concentrates on estate planning and administration, tax planning and corporate law. To this end, he has written 36 how-to legal books and 700+ articles. Marty has now finished a new book for distribution by the Michael J. Fox Foundation that covers both estate planning and charitable giving for families living with Parkinson’s disease.
“Too many people and institutions are insensitive to those living with chronic illness. The more visibility given to the realities of any chronic illness, the easier it will become for anyone living with a chronic illness, or anyone who has a loved one with a chronic illness as well.”