Author Archives: aaronjkansas

Frequently Overlooked Aspects of Estate Plans

For nearly two decades, Kansas resident Aaron Jack has been working in the financial services industry. Holding FINRA Series 6, 63, and 65 licenses, he leads the Kansas-based company Genius Diversified Holdings, LLC, as president and is responsible for overseeing all daily operations. Throughout his career, Aaron Jack has written a number of publications and books that largely focus on the topic of estate planning.

Creating an estate plan is an important part of preparing for what happens after one passes. There are several commonly overlooked parts of an estate plan that are actually very important. The integration of technology in nearly every part of today’s world has created a relatively new part of an estate plan that covers digital assets. Paper is quickly being replaced by electronic data, and this information is often lost unless digital assets are included in an estate plan. Similarly, some other assets get left out of an estate plan due to an incorrect assumption that the last will and testament automatically covers all assets.

Many individuals also forget about creating a plan in case they become mentally incompetent. Estate planning is meant to handle one’s assets not only after death, but also in cases of mental incompetence. Further, single individuals and couples without children also commonly ignore estate planning, thinking it is not important. This often results in complicated estates being left behind, making matters more difficult for remaining family members.


Planning for Retirement

After representing Kansas’ 99th District in the state’s House of Representatives for a term starting in 2009, Aaron Jack went on to cofound Genius Diversified Holdings, LLC. Now serving his firm as president in its Overland Park, Kansas, headquarters, Aaron Jack concentrates on setting the firm’s strategies to help clients grow and safeguard their resources and prepare for their retirements.

Planning for retirement is a critical element of individual and family financial planning. Through the 1970s and early 1980s, most people could look forward to a retirement funded by an employer-sponsored pension plan and supplemented by Social Security. Both of these programs paid guaranteed retirement incomes based on a combination of years of service and annual earnings.

While Social Security remains in place, the pension plans have more or less been supplanted by self-directed programs like Individual Retirement Accounts, 401(k) plans, and similar options, which are funded by workers themselves and sometimes subsidized by their employers. These programs carry no guarantees. Thus, today’s workers shoulder more of the responsibility of managing their retirement savings.

Many workers today, though, don’t have any retirement savings beyond Social Security. According to a recent survey conducted by the Federal Reserve, nearly a third of all working people have no pension or retirement savings plan. Included in that figure are nearly a quarter of all workers older than 45. Thus, unless their circumstances change dramatically, those people will retire in 20 or fewer years’ time on their Social Security income alone, which currently averages about $1,300 per month. While that figure will likely rise as time passes, living costs will rise with it.

While it can be a challenge, working Americans without retirement savings, regardless of their age, should review their finances and try to save a set amount every pay period, no matter how small, for retirement. Compound interest can make this money grow dramatically over the course of a decade or two, or more, and can help provide a cushion in one’s golden years.


Business Model

It is amazing how many financial companies dial back to the 1970’s and 1980’s to build their business plan. I guess they didn’t get the memo that the industry is embracing fee based planning to deliver the most efficient client portfolios. It will be interesting when the last few large mutual insurance companies finally join the new century!


Fielding and Batting Fundamentals at the Tee Ball Level

Aaron Jack, a resident of Wichita, Kansas, currently serves as president of Genius Diversified Holdings, LLC, in Overland Park, Kansas. Outside of his work at the advisory firm, Aaron Jack enjoys spending time with his family. He currently coaches his daughters’ tee ball and soccer teams.

Coaching tee ball requires a unique set of skills, as coaches are expected to provide players with baseball fundamentals while also managing the safety and overall behavior of a large group of 4 to 6 year olds. To achieve both goals, coaches should ensure that lessons and drills are extremely focused. For example, fielding drills should simply emphasize each player keeping their eyes on the ball at all times. As the ball moves into the glove, players should be instructed to trap the ball with their free hand.

Batting drills should stay equally succinct. After the tee is adjusted so that the ball sits at the player’s waist, the coach should assist each player in assuming a proper stance, which includes slightly bent knees with feet shoulder-width apart. As players grow comfortable in their stances, coaches can begin to work on their grip and the small, lead-foot step that should be taken as the player swings.


How to Help the Trash Mountain Project

Between 2008 and 2010 Aaron Jack served the 99th District in the Kansas House of Representatives. A supporter of Topeka’s Trash Mountain Project, Aaron Jack currently operates as president of Genius Diversified Holdings, LLC, based in Overland Park, Kansas.

In developing countries such as Honduras and the Philippines, some families are so poor that they actually live in trash dumps, collecting salable recycling materials to survive. Living in a dump creates significant issues for children, such as malnutrition and exposure to biohazards. The Trash Mountain Project is a nonprofit dedicated to establishing Christ-centered platforms to help these families.

The Trash Mountain Project (TMP) provides individuals with a variety of volunteer opportunities. The first step toward supporting TMP is to sign up for the group’s newsletter, which allows volunteers to follow the organization’s activities and projects. TMP encourages interested students to develop a TMP club on campus or to initiate a fundraiser through their local church. Volunteers can further assist TMP by raising awareness for the organization’s mission by throwing a Trash Party or by organizing a screening of the TMP documentary. By visiting http://www.trashmountain.com, individuals can also sign up for internship opportunities with the organization.


The Similarities Between Snow Skiing and Waterskiing

Aaron Jack has served as president of Genius Diversified Holdings, LLC, in Overland Park, Kansas, since 2012. In the past he has served as a Kansas state representative. When Aaron Jack is not overseeing business at Genius Diversified Holdings, he enjoys both snow skiing and waterskiing.

There are a number of similarities linking the sports of snow skiing and waterskiing, beginning with a few shared techniques. Leg strength and an ability to maintain balance over the course of repeated lateral shifts in weight are the keys to success when skiing on both snow and water. The techniques are so comparable, in fact, that a number of water ski enthusiasts use the winter snow ski season to improve their balancing skills. Waterskiing is especially connected in experience to a snowy slalom course, as the two events require athletes to move their legs and rotate their waists without turning their upper body.

Snow skiing and waterskiing also utilize similar equipment. In the past, this may not have been true, but in recent years, the sport of waterskiing has adopted hard-shell boots and bindings in order to minimize the likelihood of serious ankle injuries on the water.


The 2014 National Lawyers Convention in Washington, D.C.

Aaron Jack has spent much of his career in Kansas, including a term as a state representative and two years as the securities commissioner. Now he serves as the president of Genius Diversified Holdings, LLC, which maintains its headquarters in Overland Park, Kansas. A financial professional and writer, Aaron Jack published an article with the Federalist Society about the 2008 financial crisis.

The Federalist Society will host the 2014 National Lawyers Convention from Thursday, November 13th, through Saturday, November 15th. The event will take place at the Mayflower Hotel in Washington, D.C. Later this summer, the Federalist Society plans to issue further details about the event.

Last year’s convention featured guests such as Justice Clarence Thomas of the United States Supreme Court and addressed the topic of “Textualism and the Role of Judges.” The event also included numerous political speakers, including Senator Ted Cruz, Senator Mike Lee, and Wisconsin Governor Scott Walker.

For more information about the Federalist Society and upcoming events, such as the National Lawyers Convention, visit www.fed-soc.org.