Most people tend to ignore their financial situation until it becomes a huge problem. Realizing that they are in trouble, most often they turn to others for a solution to their situation.

More often than not, they look for help at debt consolidation companies which in my humble opinion just worsens their situation. When you realize that you are in trouble financially, there are a few things that you can do yourself to help ease the situation.

The first step is to take action. Do not procrastinate or try to hide from your problems - it is like a weed garden out of control - eventually it will be too much for you to handle.

Understandably, some people feel so burdened with debt that they simply cannot get their financial situation under control. However, there is no need to be depressed or discouraged about your situation.

You CAN do something about it if you are serious about getting out of debt. It doesn’t matter how terrible things may seem - with a bit of planning your debt woes can be solved.

A five point plant for solving debt problems

No matter how depressing your financial situation may seem, there are steps that you can implement to improve the situation.

Lets look at 5 things you can start doing immediately to ease your debt problems.

1. Do not make any more debt.

The very first step towards solving one’s debt problems is not to make any more debt. It sounds simple but it is a principle that is often ignored. The point is, if you stop making debt your monthly living expenses will be reduced. You will also be saving on interest because any money you owe on naturally has an interest amount attached to it that has to be paid back.

Another thing is that if you stop making new debts, you will have more money to pay off your old debts faster. You cannot build wealth if all of your income goes out towards paying debts.

Whatever you do, do not make the mistake of borrowing money to pay off old debt. The borrowed money will also have interest that will have to be paid off, you will have another long period of having to pay off your newest debt and by doing this you will just be creating a cycle of never ending debt payments!

No matter how painful it might seem, only by refusing to incure new debt will you eventually be able to accumulate enough money to pay off your existing debts.

2. Negiotiate with your creditors.

So you have people knocking at your door night and day looking for money that you owe them…

Instead of sticking your head in the sand, face up to your problem and contact each and every person that you owe money to. Rather than not paying anybody, or picking a name out of hat, you could try and negotiate with your creditors to pay a smaller amount every month for a longer period until you have paid off the full amount. Most creditors would rather receive a reduced payment than no payment at all.

Do not ignore your money problems, be proactive about it.

Having debt problems is nothing to be ashamed of, most people find themselves in a situation like that at least once in their lives.

The difference lies in what one chooses to do about it.

3. Selling assets

If you have any assets that you can dispose of to reduce your debts and ease your money worries you should do so. It is better to have just one car than to have two, not being able to pay your debt and eventually maybe losing your house.

If you have your grandmother’s diamond ring stuck in a vault somewhere, sell it. Yeah, I know it has sentimental value but sentimental value does not put food on the table. Sometimes one just have to differentiate between what is essential and what is not.

If you own a house, why not rent it out and move to a smaller place in the interim. Do you really need to worry about keeping up with the Jones’? You can always move back once you have settled your debt.

There are many ways that you can solve your money worries. Assess your own unique situation and see what you can change to help you in your effort to get rid of bad debt.

4. Change your lifestyle

Harsh as it may sound, if you really want to get out of debt, you will have to look at what expenses you can cut out on.

Stop eating take away food - it is bad for you anyway. Stop buying weekly magazines. Do you really need that chocolate bar every time you go shopping? Pack your own lunch for work. Walk to work if you don’t live to far away instead of taking your car or a bus.

Instead of buying the most expensive box of biscuits, settle for a cheaper one. Switch off the lights when you leave a room.

Most of all, try and set up a monthly budget and stick to it.

5. Increase your income If you can, try and find a part-time job to help earn extra money.

If you know anything about the internet, try and put up a website to sell something or earn money with Adsense.

There are many options available if one really looks around.

If you sincerely cannot find a way to increase your income, it is imperative that you implement the other 4 steps mentioned above.

In closing

It is absolutely not necessary to approach any debt consolidation companies to help you get out of debt if you are prepared to just do a little work. If you do it yourself you will get out of debt much sooner than if you try and do it through a debt negotiation or debt consolidation company.

It is better to cut down on expenses and to negotiate with your creditors in good time. Don’t wait too long to do something about your debt problems or you could find yourself being declared insolvent and losing everything you own.

Getting out of debt may take you a while, but at the end of the day it will be worth your while. You will probably be able to do it without having to spend several years paying off extra debt if you use the services of a debt consolidation company.

About the Author:

You can get more information on debt consolidation here: http://www.debt-consolidation-made-easy.info

Source: www.isnare.com

[tags]creditors, legal,out of debt, debt consolidation, debt, will, debt problems[/tags]

Mesothelioma is a rare form of cancer that affects the sac lining the chest (the pleura), the lining around the heart (the pericardium), or the lining of the abdominal cavity (the peritoneum). Studies have shown that people, who suffer from the disease mesothelioma, were exposed to an abundance of asbestos at one time or another in their life. Unfortunately, many people become exposed to asbestos unknowingly, usually as part of a job. Because of this, someone who has mesothelioma is often entitled to compensation. There are many mesothelioma lawyers, but the following easy tips can make it easier to find a mesothelioma lawyer.

1. Research all you can concerning mesothelioma. The more you understand the disease affecting you or a loved one, the better you will be able to judge a lawyer’s expertise. A lawyer who understands many aspects about the disease is the ideal lawyer. If your lawyer understands your or your loved one’s symptoms, and complications stemming from the disease, he or she will be better able to defend you. Unfortunately, some lawyers do not “do their homework” in regards to medical cases. This often leads to losing cases. A reputable lawyer will certainly know the ins and outs of the disease, so be sure to ask as many questions as you can think of.

2. Use phone books and Internet search engines to find lawyers. This may seem simple, but some people don’t bother taking the time to look through many lawyers. Accepting the first lawyer that calls, or that one sees on TV is not a good idea. Searching in Google for the keyword “mesothelioma lawyer” will yield better results in the end than simply accepting whatever lawyer comes along. Giving yourself a variety of lawyers to consider will give you the best idea of who will be willing to work hardest for you, who is sincere, and who will most likely help you win your claim.

3. Read the fine print, and know your lawyer’s case history. Once you are nearing your decision and narrowing down potential candidates, take your research to a new level. It is always a good idea to find out about a lawyer’s case history. Additionally, it is advisable to know exactly what kind of deal the lawyer is seeking with you. Lawyers dealing with medical-related lawsuits usually do not get paid unless they win the settlement. Some lawyers request different percentages. Compare these requests and choose the lawyer that you would feel most comfortable with. Unfortunately, some lawyers might try to take advantage of an unknowing client. In order to protect your interests, and make sure you acquire the top-notch lawyer you deserve, do background research on lawyers before signing up.

4. Finally, don’t be afraid to take advice. If a friend, or colleague suggests a lawyer, don’t hesitate to check it out. If a friend refers you, he or she obviously has your best interests at heart, and so the lawyer is probably well qualified to take on your case. There are many groups out there for mesothelioma patients. If you or a loved one is in one of these groups, don’t hesitate to ask for advice from others who have mesothelioma. Advice is often taken for granted, but it is one of the most valuable things a friend can give.

Mesothelioma is an awful disease, but there is compensation. This compensation can either be sought in a wrongful death suit, or while the patient is still living. It is advisable to find a lawyer as quickly as possible because there is often a statute of limitations on filing a lawsuit. The basic idea when searching for a mesothelioma lawyer is to be as educated as possible. Know what you want, and find a lawyer that is willing to help you in any way possible. Being well informed about your disease and potential lawyers will put you on the path to compensation.

About the Author

Robert Linebaugh is interested in medical topics, especially mesothelioma.

[tags]lawyers, mesothelioma, mesothelioma lawyer, lawyer,attorney[/tags]

If you are one of the millions of parents who receive sporadic child support payments, here are three strategies you can use to improve the untimely receipt of child support payments.

Caution: These strategies will not work for everyone, but remember nothing from nothing leaves nothing.

1. If you are to receive child support payments, insist the paying parent buy a life insurance policy covering the term of the payments, naming you as the owner and beneficiary. Your “ex” will be unable to change the beneficiary without your agreement. Try to have this court ordered at the time the child support order is established.

2. Take action if delinquent parents are consistently late or refuse to pay child support altogether. You may need an attorney or intervention from your local child support enforcement agency.

A measure you may want to take before seeking legal assistance is offering to renegotiate the amount of the child support order. This may sound unfair, even unheard of, but understand that if the amount set by the court does not realistically allow the paying parent to maintain a decent standard of living, the parent is more opt to stop working or leave the state. The question you must ask: Is it better to receive a slightly less amount consistently or a larger amount inconsistently or not at all. You and the paying parent are the only ones who will know if this option would work.

3. Allow the paying parent to use a variety of methods to pay child support. Child support for some parents is more than money. It may be food, clothing, recreational activities, daycare. If the paying parent is willing to provide pre-paid credit cards, gift cards from movie theaters, clothing stores, grocery stores, gas stations etc. all of these items provided, in addition to the court-ordered child support may assist in reducing arrears or assisting when the child support payments have been reduced.

Both parents should understand that together it is their responsibility to care for the well-being of their child, and both are responsible for keeping a record of all contributions made above and beyond the court-ordered child support payments. Court ordered child support payments are only necessary when one or both parents refuse to take responsibility for the financial welfare of their child. So…do the right thing.

About the Author

Detra D. Davis is a Consultant, and technical writer with over 20 years of experience. She writes technical and operational manuals, and works as Parent Educator teaching workshops on the importance of establishing paternity and paying child support. Detra may be reached at 313-446-0896, at www.supportingourchildren.com or by mail at J. Davis & Associates Publishing, P. O. Box 44782, Detroit, MI 48244-0782, Attention: Detra D. Davis.

Everyone has heard the story (from friends, co-workers, and family members) of the divorce from hell; the one that grinds on for years, costs untold thousands of dollars, and frustratingly plods its way through the court system. It costs people not only their marriage, but often their children, their savings, and their emotional well-being, as well. Unfortunately, many people going through a divorce end up hating their lawyer, and more commonly, hating their spouse’s lawyer. It doesn’t have to be that way. You can get a divorce without letting lawyers ruin your life. Using the ten tips outlined below will make a huge difference in the way your divorce progresses. It’s hard to behave rationally as you navigate this painful process, but the vast majority of people find the strength to get through a divorce without losing control of their emotions or finances. You can control the process and guide the matter to a successful solution, leaving your financial situation intact and allowing you to meet your needs now and in the future.

The reality is that lawyers are people, and like people, there are some awful ones out there and a few wonderful ones. When you hire an awful lawyer (one who creates conflict rather than resolving it, one who makes your divorce worse, rather than better) everybody involved suffers. You suffer, your spouse suffers and your children suffer. Well, not everybody suffers. The awful lawyer doesn’t suffer, so it’s important to do everything possible to avoid hiring that lawyer, because that’s the only sure way to keep divorce lawyers from ruining your life. Here’s how:

1. Don’t hire the wrong lawyer. The lawyer you hire makes a tremendous difference. Use common sense in the selection process. Be observant, ask questions, and don’t hire someone if you don’t feel good about your interaction with him or her. Here are some things to think about in an initial meeting with a lawyer: 1) does the lawyer have a direct dial phone number? You can assume that if you have to go through a secretary or paralegal to reach your lawyer, you will have a harder time reaching him or her; 2) watch out for a messy office; if the lawyer is disorganized you can assume your case will be disorganized. If you see other clients’ documents sitting out in public view, you can know that your documents will soon be sitting out in public the same way; 3) make sure the lawyer has a written client agreement that ensures that you understand your fees, rights and obligations; 4) don’t hire the dabbler – someone that does a traffic ticket case in the morning, a real estate closing in the afternoon and squeezes your case in somewhere in the middle; divorce is complicated enough that you should hire someone who does it all day long, every day; and, 5) don’t hire a lawyer taking on more cases than s/he can handle; ask the lawyer what his or her average caseload is. Handling more than 15 or 20 cases at one time causes most lawyers to become overwhelmed and ineffective. Thinking about these issues when you meet with a lawyer for the first time will help you make the right choice.

2. Don’t let a judge decide for you. The minute you (or your spouse) go to court and ask a judge to decide your divorce for you, you give up nearly all of the control you have over the process. If you want to keep your money instead of giving it to a lawyer, and if you want to maintain control over your life, DO NOT LITIGATE. Go to court only as a last resort, only if all else fails. Try negotiation, try mediation, try collaborative divorce, try settlement conferences but do not litigate. You may win at trial, but at what cost? Will you be able to dance with your former spouse at your child’s wedding? Probably not. Litigation is destructive, expensive and gut wrenching. Litigate only if you have no other option. Litigation is, unfortunately, necessary in some cases. There will always be people that just can not agree no matter how hard you try. Reserve litigation for the most desperate situations.

3. Do hire a collaborative divorce lawyer (and get your spouse to do the same thing). Now you know you want to stay out of court. Do you want your situation to be resolved as efficiently, effectively, and successfully as possible? Of course. That’s the way collaborative divorce lawyers handle divorces. In a collaborative divorce, everyone involved (lawyers and clients) signs a written pledge to keep your case out of court. This keeps everyone involved truly focused on reaching a mutually beneficial agreement, without threatening costly and destructive litigation.

4. Don’t hire a mediator without getting legal advice first. Often, people think that hiring a mediator is a substitute for hiring a lawyer in trying to resolve their divorce. The critical mistake these people are making is this: mediators can not give legal advice. Their role is only to help people agree; the drawback is that they may help you agree to something that you would not have agreed to if you had sought legal advice first. Timing is everything here: using a mediator can be effective in resolving a divorce, you should never, ever hire a mediator without first obtaining legal advice from a lawyer whose only role is to represent your best interests. In fact, any good mediator will insist that you go and get legal advice before any agreement is reached, anyway. If you choose to mediate your dispute, get the legal advice before you begin mediation. It is more efficient and safer.

5. Don’t sign a blank check. Signing an agreement with a lawyer that calls for hourly billing is like signing a blank check. Be careful. Let’s face facts – hourly billing encourages what? Billing! Find a lawyer who can tell you what your case will cost. The only way to be certain of your attorney fee is to get a firm commitment on a fixed fee. Short of a fixed fee you need frequent updates on the costs that you have incurred (if it were our money we would want daily, real-time, updates over the internet) and we would want the authority to accept or reject any action that would result in our paying more money. It just doesn’t make sense to give someone the economic incentive to make your life miserable by dragging things out. Doctors don’t bill hourly – they charge you a fixed fee for your office visit or your surgery. Lawyers want you to believe that they can’t predict your fee. If they won’t tell you how much it costs then don’t buy it.

6. Do a cost-benefit analysis. In divorce, it is easy to get caught up in the emotion and make all of your decisions from that vantage point. This can be a mistake though; spending some time analyzing your case from a logical, cost-benefit perspective can pay dividends. Keep your eye on the ball and stay focused on getting the divorce finished so you can move on with your life. It is not uncommon for divorcing people to do things like spend $500 to get a $100 microwave oven. Don’t do it. If you can’t see a clear connection between your actions and achieving a final resolution of your case, then don’t take that action.

7. Do know your priorities. Frequently people going through a divorce find that their priorities change throughout the process. The things that they thought were most important when they began the process are not necessarily the same things that are most important at the conclusion. It is important that you review your priorities regularly, with your lawyer or on your own, so that you are always mindful of things that matter to you most. Staying on top of your own priorities allows you to keep your lawyer informed and better use the divorce process to obtain the results that your care most passionately about.

8. Do remain flexible. One of the most common mistakes people make when they begin a divorce is to decide that they absolutely, positively must have A, B, and C, and nothing else will be sufficient. Remaining flexible in the divorce process allows you to critically and impartially analyze all of the issues as they arise. This is especially true for people who have reviewed their priorities throughout the process (see # 7 above). Knowing what you want, and being flexible in your approach to getting it, can often mean the difference between success and frustration.

9. Do stay involved. When you hire your lawyer, don’t simply hand control of your life over to him or her and walk away. Your divorce is critical to you, and it’s too important to be delegated away and ignored. Stay abreast of developments on a daily basis. Find a lawyer who wants you to be as involved as you do. Two things to look for in a lawyer who wants to keep clients involved: same day delivery to you of all documents that come in or go out of the lawyer’s office (email is a great option for this) and 24/7 access to your case file. Ideally, your file will be available on an extranet on your lawyer’s website. If you can access your credit card and bank statements online, your divorce file should be online, on your lawyer’s website, as well. Many lawyers use technology to make your life less stressful and more convenient; find one who uses the latest technology to help you stay involved. Involved clients are able to maintain control, reduce anxiety and make better judgments about their future, which helps them to reach positive outcomes in their divorce.

10. Do educate yourself. Knowledge can be your greatest ally. Research the divorce laws of your state, whether through a local law library or the internet. NCdivorce.com is the most comprehensive divorce website in North Carolina. The site features a discussion forum with questions answered by lawyers, a child support calculator, the latest cases from the North Carolina Courts, numerous essays and information on all divorce issues, seminar videos, and lots more. Reading the information on this site will dramatically improve your effectiveness and efficiency in interacting with your lawyer and negotiating with your spouse.

Lee S. Rosen is a Board Certified Family Law Specialist and founder of Rosen Divorce, the largest divorce firm in the Southeastern United States. Rosen Divorce is a multidisciplinary practice of lawyers, counselors and accountants. Visit http://www.rosen.com for more information and articles.

A Process of Discovery - (Commercial Mortgage Brokerage Defined)
Author: Gregg Winter
At its highest level, commercial mortgage brokerage is a collaborative process of discovery. On the borrower side, the more the broker is able to learn about the property and the borrower’s needs, the more effectively he can focus his thinking and utilize his experience to assist the borrower in structuring the deal. On the lender side, a good broker carefully cultivates an effective and aggressive group of lenders. These are the kind of worthwhile relationships that can only develop over time. With each and every deal the relationship is tested and seasoned with mutual respect. The bar is raised. The boundaries are stretched. The stakes are always high because of the faith that has been placed in the broker by the client. Therefore, if disappointed by a lender’s execution, or by changes that (hopefully won’t) occur from the time a lender quotes a deal to the time the lender issues a commitment letter, that lender may never have another chance to win over that broker.

Part of the value, therefore, of a seasoned mortgage broker, is accumulating and honing these performance-based lender relationships to a fine edge so they can be brought to bear on an individual borrower’s transaction.

At a sophisticated level, commercial real estate financing requires finesse, experience and the aforementioned carefully cultivated, time-tested array of “arrows” in the broker’s “quiver”. Or, to state it more generically: to be effective, one needs the right tool at the right time to accomplish a particular job.

What are the implications of all this for the borrower? In return for a mortgage brokerage fee, all these time-tested lender relationships and the broker’s insight, judgment and advisory skills are leveraged by the borrower for a finite period of time without the need to employ such expertise on a permanent basis. All in all, I’d say it’s an amazingly efficient arrangement.

So, who should you turn to when it’s time to reach out to a broker? Which company should you choose? As in any endeavor, there’s a pyramid of quality and expertise: plenty of mediocrity at the bottom, some decent performers in the middle and a small number of virtuosos at the top. As in choosing a doctor, a lawyer, a contractor or a vacation, nothing beats a word-of-mouth recommendation from someone you know and trust. Next there’s old-fashioned due-diligence which would include doing a web search and reviewing newspaper articles (for example its easy to search the archives of the NY Times), calling accountants and lawyers active in real estate for recommendations, and asking for references from the broker’s past clients. Ultimately, it will come down to a face-to-face meeting, the answers to your questions, and your gut feeling about the broker, his ethics and his company. The depth of the organization is quite important because a great broker must have top-notch administrative, analytical and processing support to be your optimal choice.

When you consider that the owner of an apartment building, office property, shopping center or owner-occupied property will live with the economic consequences, restrictions and conditions of a new mortgage transaction for years, the best option for an owner is unlikely to be achieved by picking up the phone and calling one or two familiar banks. The smart owners know this and are happy to “outsource” the mortgage brokerage function, knowing that they will get the benefit of the broker’s knowledge of the current marketplace.

Since the lending landscape is a constantly moving target, the “alpha” broker guides the client, mindful of the client’s desired loan structure, incorporating late-breaking news and knowledge of shifting market dynamics to fine-tune his approach to best achieve the client’s objective.

You may be asking how, exactly, this knowledge can benefit the borrower, so here are two possible examples:

Lender X recently lost two valuable employees, the shop is overwhelmed and the broker absolutely knows that even though he’s closed hundreds of millions of dollars of business in the past with lender X, and the borrower likes lender X, at this moment in time lender X is not the right choice, and the broker must advise the client accordingly.

Treasury rates drop significantly – prompting a suggestion by the broker to suddenly switch from lender “A” to lender “B” because lender “A” (despite the fact that it offers a better spread than lender “B”) will not be able to lock the interest rate for two more weeks. Lender “B”, on the other hand, can rate-lock immediately. The borrower should employ the broker that will offer him this option when circumstances so dictate, not the broker that will sit tight knowing that the client is already signed up. The broker that is willing to disclose any problems that arise immediately and help the borrower switch to “Plan B” is (of course) infinitely more valuable than the one that doesn’t want to rock the boat.

Clearly, you want the broker that will dig deeper and seek to protect your interest, which brings us to the next rather important point:

What to absolutely avoid in a commercial mortgage advisor: brokers who tend to utilize a small number of lenders regardless of the diminishing effect that will have upon the advice that they can offer their clients. As efficient and convenient as this may be for them, it screams disrespect for their clients. You want a broker that enjoys going the extra mile and pushes to find the best solution in any market condition. Also to be avoided are firms without enough support staff to truly serve the borrower’s needs. The phrase “the devil’s in the details” must have been coined with complex commercial mortgage transactions in mind. There is a lot of work that must occur between the acceptance of a term sheet and the closing of the deal. Make sure that the firm you put your faith in is adequately staffed to keep the paperwork flowing smoothly.

Make the most of your next commercial real estate transaction by taking the time to identify the right advisor to assist you. Tap into the wellspring of knowledge and expertise as needed, knowing your broker is up to speed with all the nuances of the current lending environment. Bringing that expertise in at an early stage will almost certainly ensure that your project will go more smoothly.

Gregg Winter - President
Winter & Company Commercial Real Estate Finance
13 East 37th Street, NYC 10016
gregg@winter1.com
www.winterandcompany.com

An Overview of The Social Security Disability Claims Process
Author: SS Home
The Social Security Disability claims process can have many steps depending on how many times your claim is rejected and you appeal. Overall, there are five stages, each with its own format, rules, and decision makers. The first four stages are within the Social Security Administration, and the last stage is independent of Social Security. More resources

The initial stage takes place after you file a Social Security Disability claim with the Social Security office. Your original claim is reviewed by a disability examiner working at the Disability Determination agency in your state. This disability examiner will review your file, medical records, and other important information and consult with a doctor to determine if you are disabled and eligible for Social Security benefits. Unfortunately, the claimant will typically not know the identity of his or her disability examiner, and will have no personal contact with the examiner. Overall, 60% of the claims at this stage are rejected.

If the disability examiner rejects your claim, which is very typical, you can request an appeal called “reconsideration.” Reconsideration, as the name suggests, is less like an appeal and more like asking Social Security to take a second look at your claim and “reconsider” its decision. As in the initial stage, another disability examiner in your local Disability Determination agency will review your claim and issue a decision. Also, as before, the claimant will not have any personal contact with the examiner. Generally, 80% of the claims at this stage are rejected.

If the disability examiner rejects your claim after the reconsideration stage, the claimant can again appeal and request a hearing with an administrative law judge. At the hearing stage the claimant will actually takes his case before a live judge in hopes of receiving a different decision. Though this might seem intimidating, this is typically the first stage in which the claimant will be able to present his case and talk with the decision maker. The hearing is informal compared to most legal settings, and typically will include the claimant, the claimant’s attorney, the administrative law judge, his secretary, and a vocational expert to testify as to the claimant’s disability and limitations. The hearing will not have a jury or an audience, and Social Security will not be represented by an attorney. After reviewing the claim, the judge will determine if the claim is valid independent of the prior decisions of the disability examiners. Statistically, over half of the claims at this stage are successful.

If you are unsuccessful at the hearing stage, you can appeal to the Appeals Council. The Appeals Council is a single body located in Falls Church, Virginia, that will review the administrative judge’s decision if you are unsuccessful. The Appeals Council only reviews the judge’s decision and does not hear arguments from the claimant or claimant’s attorney.

If the claimant is rejected by the Appeals Council, you can take your case to the federal courts. First you would file in a United States District Court, but you could potentially appeal all the way up to the United States Supreme Court. It’s important to remember that the United States District Court appeal is the first appeal that is handled outside the Social Security bureaucracy.

As detailed above, the Social Security Disability claims process is complicated, tedious, and time consuming. As with any difficult scenario, it is helpful to have experience on your side, and that’s exactly what we offer. An experienced attorney can help you navigate Social Security’s bureaucratic maze and save you time and heartache.

About the Author

Original content from www.socialsecurityhome.com
You can email us here

…

An Important Part of Lifetime Planning is the Power of Attorney
Author: Jeffrey Broobin

An important part of lifetime planning is the Power of Attorney. Valid in all states, these documents give one or more persons the power to act on your behalf. The power may be limited to a particular activity (e.g., closing the sale of your home) or general in its application, empowering one or more persons to act on your behalf in a variety of situations. It may take effective immediately or only upon the occurrence of a future event (e.g., a determination that you are unable to act for yourself). The latter are “springing” Powers of Attorney. It may give temporary or continuous, permanent authority to act on your behalf. A power of attorney may be revoked, but most states require written notice of revocation to the person named to act for you.

The person named in a Power of Attorney to act on your behalf is commonly referred to as your “agent” or “attorney-in-fact.” With a valid Power of Attorney, your agent can take any action permitted in the document. Often your agent must present the actual document to invoke the power. For example, if another person is acting on your behalf to sell an automobile, the motor vehicles department generally will require that the Power of Attorney be presented before your agent’s authority to sign the title will be honored. Similarly, an agent who signs documents to buy or sell real property on your behalf must present the Power of Attorney to the title company. The same applies to sale of securities or opening and closing bank accounts. However, your agent generally should not need to present the Power of Attorney when signing checks for you.

Why would anyone give such sweeping authority to another person? One answer is convenience. If you are buying or selling assets and do not wish to appear in person to close the transaction, you may take advantage of a Power of Attorney. Another important reason to use Powers of Attorney is to prepare for situations when you may not be able to act on your own behalf due to absence or incapacity. Such a disability may be temporary (e.g., due to travel, accident, or illness) or it may be permanent.

If you do not have a Power of Attorney and become unable to manage your personal or business affairs, it may become necessary for a court to appoint one or more people to act for you. People appointed in this manner are referred to as guardians, conservators, or committees, depending upon your local state law. If a court proceeding, sometimes known as intervention, is needed, than you may not have the ability to choose the person who will act for you. With A Power of Attorney, you choose who will act and define their authority and its limits, if any.

What if I move? Generally, a Power of Attorney that is valid when you sign it will remain valid even if you change your state of residence. Although it should not be necessary to sign a new Power of Attorney merely because you have moved to a new state, it is a good idea to take the opportunity to update your Power of Attorney.

Will my Power of Attorney expire? Some states used to require renewal of Powers of Attorney for continuing validity. Today, most states permit a “durable” Power of Attorney that remains valid once signed until you die or revoke the document. However, you should periodically meet with your lawyer to revisit a Power of Attorney and consider whether your choice of agent still meets your needs and learn whether developments in state law affect your Power of Attorney.

Note that Legalhelpmate.com (http://www.legalhelpmate.com/power-of-attorney.aspx) provides an easy-to-use, quick, and economical online method for creating completed legal documents for any occasions.

About The Author

Jeffrey Broobin is a free-lance writer on family and finance issues; his main goal is to help people during their complicated period of life.

Website: http://www.legalhelpmate.com

Advanced Health Care Directive - 10 Most Commonly Asked Questions
Author: Barbara C. Phillips
Today, more than ever, you need a Living Will. Discover the 10 most common questions you need answered so you too can have peace of mind.

1. What is an advanced health care directive?

Advanced health care directives are written instructions that communicate your wishes regarding care and treatment should you no longer be able to make your own health care decisions.

2. What are the components?

An Advanced Health Care Directive includes:

1. A Living Will which outlines your medical and treatment choices
2. Health Care Power of Attorney – the person you appoint to make medical and treatment decisions when you are no longer able to do so yourself.

3. How are they used?

If you are no longer able to make choices regarding your health care, these documents will communicate to your physicians what treatments you want or don’ t want such as artificial administration of food and fluids, or even the use of CPR or a breathing machine.

4. When do they become effective?

These forms are only effective when you cannot communicate your desires yourself. It may be used in situations where you are terminally ill and will die soon. In that case, life-sustaining procedures that only prolong the dying process will be withheld as you have indicated. Another time they will come into play is if you suffer from an event or illness that leaves you permanently in a coma. Because situations are varied, it becomes important to be as clear as you can, and make sure your POA understands your desires.

5. What happens if I don’t have one?

Ever state has a hierarchy that is followed that describes who is your next of kin and who will make decisions for you. For instance, if you are a minor child, it will be your parents. If you are an adult with a legal spouse, that person becomes your decision maker. It becomes complicated when family members/significant others disagree about what your desires are. This is why these forms are so important.

6. Can I change my mind?

You can change your mind about what you have written and who you choose as your decision maker at any time by destroying the old forms and making a new one. Make sure the new forms are given out to those that need them such as your decision make, family/significant others, health care provider, hospital, etc.

7. If I have a living will, does that mean I won’t get treatment?

This is a common misconception, and the answers is no. These forms do not mean NO CARE. You should always get the care and comfort that you require.

8. Where do I get these forms?

Often times, your health care provider or hospital will have them. However, it’s best if you do them before you ever see these providers. You can obtain them from your attorney, or there are several online sources where you can get state specific documents for free.

9. Do I need to see a lawyer?

No. You can fill these forms out yourself following the form directions.. That said, if you situation is sticky, it would not hurt to get professional legal advice. In most states the forms do not have to be notarized. Make sure you get the required witnesses to sign these forms. They cannot be relatives or employees of your health care provider, hospital, clinic, etc.

10. Where can I find more information?

Online, www.LawHelp.org provides free information for most states. Most state departments of health or your state legal association will be able to point you in the proper direction.

About The Author

©2005 Barbara C. Phillips, MN, NP

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ACLU is at it again
Author: Terry Dashner

God help us, please! The ACLU is at it again. This time their secular agenda is targeting the Pentagon, having brought civil litigation against the United States military for their 50 year history of sponsoring the Boy Scouts of America. This news has left a foul taste in my mouth for some reason. I’ve got to vent to get some relief. Please indulge me.

It seems, all of a sudden after 50 years of helping the Boy Scouts of America with camping facilities and other support measures, the US military has now been told by the ACLU in federal civil-court that they can no longer administer the oath that scouts take—pledging a belief in God. (Yes, that’s really a national concern, I’m sure.)

Actually if you look beyond the smoke screen of this play, you must admit that this is nothing more than retribution by the ACLU for losing in federal court, some time ago, regarding allowing homosexual—participants and counselors—in the scouting program. Then again, it’s also the ACLU’s agenda to secularize America—removing every semblance of God from federal properties.

Let me give you the scenario that played out before my eyes last evening. I was watching a news program on a cable news-network. The host of the news program was interviewing a First Amendment attorney, regarding the litigation efforts of the ACLU against the Boy Scouts of America.

The attorney was in full form. Although he was brave enough to speak in favor of the ACLU, he did nothing more than repeat the same-old-worn-out-argument about the violation of separation of church and state. When is that line (from a Thomas Jefferson letter) going to die? (Nowhere in the United States Constitution do I find the words, “separation of church and state.”)

I looked at the attorney on the TV screen. I didn’t care for his hair style, but I liked his fine, expensive looking suit and tie. I’m sure, by his choice of attire, that he was doing very well financially— defending the First Amendment against the evil adversaries of the United States like the Boy Scouts of America and the Pentagon of the United States. I don’t know about you, but I, a US citizen, retired police officer, Navy veteran, registered voter, and a current pastor of a local church do not, in the least, feel threatened by the Boy Scouts of America and their oath before God.

I think First Ammendment attorneys could be better utilized if they’d use their skills to defend free speech and freedom of religion for the US Armed Forces and their support for the Boy Scouts instead of trying to rescue America from their insidious evils of violating the First Ammendment.

I thought to myself, certainly every American citizen knows the story about America’s founding fathers of faith. I thought everyone knew about the first American Thanksgiving—Pilgrims giving thanks to GOD for the bounty of the land. I thought everyone knew about George Washington petitioning the GOD of heaven for victory in battle. I thought everyone knew, as common knowledge, that these “religious forefathers” were the same ones who gave us our national heritage—in GOD we TRUST!

Maybe it’s time to recommend that the ACLU return to US history class 101. A revising of their revisionist history might do everyone some good, especially First Ammendment attorneys.

Terry Dashner (Sources cited are available)

I want to thank you for reading this religiously biased paper. I feel better now, and the sour taste in my mouth is improving—slowly.

May God bless the United States of America!

About the Author

Senior Pastor of Faith Fellowship Church in Broken Arrow, OK. (918-451-0270)

A Triple Dipper: How to Make 3 Profits on 1 Stock Trade
Author: Floyd Snyder
This is a rather simple strategy with which I am sure a lot of seasoned traders are very familiar, possibly under some other name with which I am not familiar. I wanted to write about it because I don’t see anyone talking about it anymore. Since the big hey-days of day trading and, of course, the burst of the Internet bubble of 2000, there seems to be a lack of patience that this strategy needs to work.

A lot of people seem to be moving back into the markets since the declines of 2000. If you were one of those that jumped back in during the early part of 2004 you reaped big profits. But now there seems to be a fair number of Wall Street Pundits that are beginning to raise the “irrational exuberance” flag once again. If you have been watching some of the unrealistic gains in recent high flyers, you may be looking for a bit more conservative way of being in the market.

In the early 70’s I met a young Dean Witter Reynolds broker and told him I had a few dollars I wanted to put into the stock market. The first thing he told me was that unless I had $100,000 I wanted to invest one time into a diversified portfolio with a buy and hold strategy…or…. $10,000 I wanted to invest in a more aggressive “trading” strategy, he was not interested in my account. Keep in mind, this was a long time before the day trading craze hit. I was impressed with his straightforward and honest approach. However, I did not have $100,000 back then, but I did have a bit more then $10,000. With that we were off to the races, and this is the trading plan he put to work for me.

First of all he stayed away form the high flyers altogether. He followed a number of solid, top quality companies that had a history of paying above average dividends but still with a little bit of volatility. Both the dividend and the volatility are required ingredients.

We bought six to ten positions with an average of 300-500 shares in each position. Every stock we bought paid higher then average dividend. We did well with companies like Phillip Morris [MO], American Electric and Power [AEP], Battle Mountain Gold Co. [now a pink sheeter], General Motors [GM] and few others. I only mention them so you that are nuts-o for research (exactly the sort of thing I would do) can go back and see the sort of movement we had in these stocks back in those days. There were others of course, but that will give you some fodder for research. GM and MO may still work these days, but I have not looked at AEP in years and, of course, Battle Mountain is history.

Okay, so now you know what sort of companies we are looking for; solid, higher then average dividend paying companies with a bit of volatility. Hey, I never said this was easy! But to make it even more challenging, we need one more component to make the triple dip into the money - Options. To be more specific, we need Covered Calls only!!! Let me repeat that, we are only selling covered calls, no other options. You will have to be cleared by your broker for options trading, and you will need a margin account.

Here’s how the play is made. You buy 300-500 shares of a stock that is going to be paying a dividend with in the next 15-45 days. You sell the 30-60 day covered call taking in the premium money and giving you that amount of money downside protection to offset any move against you.

The ideal trade will play out like this. You will buy the stock, it will pay the dividend while you own it, you sell the Covered Call collecting the options premium money, and hopefully the stock will be called away at the strike price. Obviously, you have to make sure you only sell the call with a strike price higher then your entry price.

Now let’s apply the math on a hypothetical trade. Let’s say you buy MO at $50 and it is paying $.25 dividend and the $51 call option is selling for $.25 with an expiration date 45 days out. Let’s further assume the stock pays the dividend, and moves above the strike price of $51 by the expiration date and it gets called away. You will earn $.25 for the dividend, $.25 for the premium money on the call and $1.00 on the stock position itself for a total gain of $1.50 on 300 shares. That’s $300 on a $7500 investment (using 2:1 margin account) for a 24% annualized yield on your money. More of the math: $300 divided by $7500 = 4% X 8 = 24%. Keep in mind you made the $300 in 45 days meaning theoretically you can do this 8 times a year. That’s how you get the 24% annualized yield. Not to shabby! (Because commissions vary, I have not put them into the equation, something you will have to do obviously.)

Seems pretty easy doesn’t it? Well it is, when it works. But like everything in the stock market (or in life itself for that matter) there is no sure thing.

Any number of things can happen. Here are just a couple of things you have to consider. First off, I would check to see what all the analysts are saying about any stock you are about to try this on. Make sure the company has a solid dividend history. I would also caution against making the play on a stock that is due to report earnings while you are in the options period. Also keep in mind that as a general rule a stock will dip in direct relationship to the divided paid.

Obviously this strategy is not always going to play out as our hypothetical trade did. However, I have had results similar to that as well as some much better, and “yes” some that did not work at all. What makes the play less risky than the stand alone buy and hold trade is that no matter what the stock does, you get the dividend and the options premium money giving you that much downside protection on a move against you.

I had a number of stocks that I would hold in my account and merely roll over the option money and collect the dividend on a regular bases, double-dippers, and was very happy not to have the stock called away.

I was very fortunate that I had met a broker who became one of my best friends and taught me this method of investing. I strongly suggest that you seek the advice of a professional broker; money manager; your attorney; your accountant; your present, past or future wife or husband; your doctor; your heirs, your auto mechanic or anyone else in the world that you can think of before you try this or any method of investing. (Okay, I think that covers about everyone.)

To learn more about Covered Call writing, check the resources at http://www.TraderAide.com. Good luck and happy trading!

No permission is needed to reproduce an unedited copy of this article as long the About The Author tag is left in tact and hot links included. We do request that we be informed of where it is posted so reciprocal links can be considered. Email floyd@sbmag.org.

About the Author

Floyd Snyder has been trading and investing in the stock market for three decades. He was on the forefront of the day trading craze that swept the nation back in the late1990’s both as a trader and as the moderator of one of the Internet’s largest real time trading rooms. He is the owner of http://www.TraderAide.com , Strictly Business Magazine at http://www.sbmag.org www.FrameHouseGallery.com and www.EducationResourcesNetwork.com

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