To Plan or Not to Plan?

Want a new career?

"Plan" courtesy FEMA.

Want a better family life?

Want success and happiness?

What safety for your family and friends?  (That's where the insurance angle comes in.)

What's your plan?   It seems everyone has an opinion about "planning" or the lack there of.

Whether the plan works or not, it seems often planning took part in the process along the way to your final destination...good or bad.

Here are some quotes to ponder.


To achieve great things, two things are needed; a plan, and not quite enough time.
Leonard Bernstein 

If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much.
Jim Rohn

Plan your work for today and every day, then work your plan.
Margaret Thatcher 

You can always amend a big plan, but you can never expand a little one. I don't believe in little plans. I believe in plans big enough to meet a situation which we can't possibly foresee now.
Harry S. Truman

I've never been able to plan my life. I just lurch from indecision to indecision.
Alan Rickman 

Reduce your plan to writing. The moment you complete this, you will have definitely given concrete form to the intangible desire.
Napoleon Hill

Apathy can be overcome by enthusiasm, and enthusiasm can only be aroused by two things: first, an ideal, with takes the imagination by storm, and second, a definite intelligible plan for carrying that ideal into practice.
Arnold J. Toynbee

Life Insurance: Difficult Decisions

reprint for Farmers

The difficult discussion?
The important discussion 

According to LIMRA’s 2010 Life Insurance Ownership Study, a study that’s conducted every six years, many U.S. households are underinsured: 

Only 44 percent of U.S. households have individual life insurance.
Half of U.S. households (58 million) say they need more life insurance.
Among households with children under age 18, arguably those with the greatest need for life insurance, 11 million have no life insurance coverage.

Many families find life insurance a difficult subject to discuss, so they avoid it. Perhaps discussing the possibility of a spouse’s unexpected death is uncomfortable, but talking about life insurance is critical to the whole family. Here are some tips that may help you start the discussion and keep it on track: 

* Talk before you’re in a financial crisis — Pick a time when you are both relaxed and keep it positive. Try to discuss it as you would any other family issue or aspect of your financial planning.

*  Make a plan or revise your existing plan — Incorporate life insurance into your overall financial strategy — in fact, you may want to consider making it a primary component.

*  Set a monthly budget — Determine what you can afford and call me. I can work with you so you can determine a realistic strategy that you can stick to.

Although the subject may be difficult or awkward, talking about life insurance may be one of the most important discussions to have. And call me to learn more about the life insurance options that may help protect your family’s future.

Life insurance issued by Farmers New World Life Insurance Company, Mercer Island, WA 98040

end of article

Always make sure your auto, fire (home, condo, & renters), earthquake, flood, umbrella, and life insurances all properly work together to protect your home, your business, your future.

What About A Timeshare?

Re-print from LegalShield


What You Need to Know Before Buying a Timeshare 

With the weather warming and the beginning of spring at hand, many consumers are starting to consider their summer vacation plans. Some may even purchase timeshares. Read these tips before

you consider a timeshare. 

• Look at the big picture. Make sure you understand the full cost of the timeshare, the yearly maintenance fees, terms and conditions. Ask a lot of questions and do not accept vague answers. If a sales person is vague or evasive, walk away.
  
• It is a buyer’s market. Like the housing market, there are currently more timeshares for sale than there are buyers. Shop around, you may be able to purchase at a discount.
  
• A timeshare is not an investment. Buying a timeshare is similar to buying a car in that the value will not increase after your purchase. Purchase a timeshare because you want to use it, not because you want to invest your money.
  
• Ignore high-pressure sales tactics. Timeshare sales can be full of gimmicks and free giveaways, but you should not purchase a timeshare because of a free TV. Make sure it is the timeshare you are buying into and not the sales tactics.
  
• Do not be afraid to walk away. By walking away from a high-pressure salesperson, you can take control.
  
• Before you sign anything have your documents reviewed and talk to your LegalShield provider law firm. Take advantage of your LegalShield membership and call today! 

The content of this newsletter is intended for general information purposes only, and is not legal advice. Readers should be aware that while certain principles outlined on this site may be similar to principles followed in their own state or province, laws can vary considerably. © Copyright 2012 Pre-Paid Legal Services, Inc. d/b/a LegalShield℠ One Pre-Paid Way, Ada, Oklahoma 74820 www.mylegalshield.com

Planning When You Have Special Needs Children

Originally published on Why Platinum?

Financial preparation is important for any family with children.  When one of the children is special needs, the needs is amplified.

What if the parent(s) or guardian are killed or incapacitated?

Will the new guardian be able to financially, emotionally, and legally be able to take care of the disabled child the same way their mother and / or father can?

Always a tough situation, there are steps that should be taken to minimize the devastation that will occur for the special needs child when their parent or guardian is gone.  The following information is by no means a complete description of what needs to be done for every family since needs and situations differ, but it can be a good guide on where to start and what to consider.

Please consult with legal council or insurance / financial professional where necessary.

Life Insurance: Buying life insurance is a great way to leave an income source to a dependent who needs support until they can support themselves.  With a child with special needs the inability to support themselves could stretch well into adulthood or even their lifetime.  

Realistically, how many years of income will be needed, and how much per year?  18 or 21 may not be the goal in this case.

Will Government support be enough?

Can the guardian you've chosen to help your child financial afford to take on that responsibility?  They might want to, but can they?

Life Insurance on the lives of the parents or guardians is a key step to take.

Other steps to consider:

• Create a last Will and Testament:  A will should outlines how you want your assets (estate) distributed. Have a lawyer guide you through the process. This is not the time to Do-It-Yourself. Leaving assets to a special needs child directly may jeopardize any government aid they receive such as Social Security, MediCare, or Medicaid / MediCal.  So make sure your attorney helps you figure out if you should designate someone to take care of the estate.  In these cases a Will is not enough.  See Trusts below.
  
  
  Don't NOT buy insurance out of the fear of losing government support.  Do it the right way instead.  Government support with current government budgetary problems could make future support unreliable.
  
  
• Decide on the right Guardian(s): Appoint a trusted and responsible adult to make financial & medical decisions for the special needs child.  You might need to choose a short term and a long term guardian.  Example: the grandparents might be the best choice, but for how long?