January is almost coming to an end

I do hope you have taken time this month to get organized and review your financial life. In preparation of this Ezine, I reviewed news articles to see if I could motivate those that have not planned for their loved ones. This was a heart breaking story, but one that could have been avoided with only a little planning. Again, you are planning for your loved ones, not for yourself. Although, you will have peace of mind once it is done. One of my goals this year is to ensure that every parent I know has named guardians for their children. There are no excuses you can do it for free! I also encourage you to sign up for my free Ezine book, Wear Clean Underwear at: The Soto Law Group eBook In the book you will find more inspiring stories about protecting those you love. The story I found was about a mother who failed to do any legal planning. A single mother from California died during the birth of her fourth child leaving behind four little ones and no guardianship directives. To complicate things further, the father of these children is not (and has never been) in the picture to claim responsibility. So fearing the kids would end up separated in the state welfare system, a neighbor (who also has six children of her own), stepped up to the plate. And thankfully the Los Angeles community had stepped up to the plate by donating diapers, clothing, food, etc. for the now mother of 10. But in most cases, stories like this one don’t have such a happy ending. The sad reality is that children are placed in situations their parents would’ve never have dreamed possible because they didn’t take the time to plan ahead in the case of their unexpected death or incapacity. Please take the time to read below and see how you can protect your loved ones!

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Let this be a wakeup call for you There are three simple things that could have been done differently to ensure these kids were taken care of upon their mother’s passing. And if you have little ones at home counting on you, I urge you take these steps now to ensure a legacy-and no regrets-are what you leave behind: 1. Get a Life Insurance Policy- For a small amount of money each month, this mother of three with a fourth on the way could have been paying for a life insurance policy so that her children were provided for financially should something happen to her (especially knowing that their father was not in the picture and would not contribute to their care financially). Because she did not have life insurance in place, her children are now forced to rely on handouts and charitable donations from neighbors until they are old enough to support themselves. We can discuss this further during our Family Wealth Planning Session and make sure you have enough insurance should something happen. 2. Name Short-Term and Long-Term Guardians- While this story “seems” to have a happy ending with the neighbor stepping up to raise the four children and keep them all together, will she really be able to manage raising ten children? Maybe there was another friend or a family member who would have raised these kids EXACTLY as their mom would have wanted, but we’ll never know because she didn’t document her choices for her kids’ care. Simply browse to: http://www.dedeskidsprotectionplan.info/ and name your guardians for free. No excuses. 3. Create a Legacy of Non-Tangible Assets- This mother unexpectedly died during childbirth. Because of this, her newborn baby will never hear the sound of her voice or know firsthand what her mother’s values were or how she would have guided her about things like spirit, money, discipline, education, sex, or health care. As parents, even if you don’t have any money to leave behind, you can leave your children a gift of your values - who you are and what’s important to you. You can do that for free by writing letters or recording a CD for your children. If you work with a me, this is just part of the legal planning process and becomes a gift that is far greater than all the money in the world. Ideally, the best way to ensure the well-being and care of your family is to meet with me the Soto Law Group, a Personal Family Lawyer®-and I will guide you to naming guardians for free. But, even better than writing them out, speak them. Leave your kids an audio or video message from you - that’s truly priceless. Regardless of how you chose to go about it, take the time to get your affairs in order while there’s still time-ESPECIALLY if you have young kids depending on you at home. It’s the only way to leave behind a real legacy-instead of regrets-should something happen.

Are You Getting Organized?

Started that new diet? How about getting those important things that No One wants to do or even think about? Well, this week I thought I would lay it all out for you. I cannot urge you enough to name guardians for your children. You need short term and long term. And its FREE just go to http://www.dedeskidsprotectionplan.info But don’t delay. After reading the featured article, I hope you will take the necessary steps to make your wishes legal and get your legal house in order. Love and Blessings,

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Two legal documents every adult should have no matter what size your bank account is Do you remember when you became legal? As of your 18th birthday, you became an adult in the eyes of the law. Even though your kids may still act like teenagers (or you may feel like one), in the eyes of the government, turning 18 means you need to have legal documents in place in case of an accident. Every adult should have in place an Advance Health Care Directive and a Financial Durable Power of Attorney. Estate planning is not just for rich people. These legal documents are important for everyone who loves their family. If you don’t have these legal documents in place and something scary happens, it will make life a whole lot more difficult for the people you love. An Advance Health Care Directive (also known as a living will) does two things: first, it names the person you want making health care decisions for you if you cannot make them for yourself and second, it lets that person know how you want them to be made. This is important because if you are in the hospital and cannot communicate, you need someone to make decisions for you and you want them to make those decisions as you would want them made, without question. If you don’t have this document in place, it could create a huge rift among your family as the people you love fight about what you would have wanted. The important thing in this document is that whoever you name is also given authority under the new (within the past three years) Health Insurance Portability and Accountability Act (aka HIPAA). If your health care agent (the person named in your Advance Health Care Directive) is not designated as your agent under HIPAA, they will not be able to look at your medical records, which makes it mighty hard for them to make health care decisions for you. By the way, if you have college age kids, you’ll want to get this in place for your kids. Otherwise, when you call the school nurse to discuss your child’s illness, you may find no one can or will talk with you because they would violate HIPAA if they did. Lawyers’ get frantic calls in the office at least once or twice each fall from parents looking for legal documents for their college-age kids for just this reason. The second legal document you absolutely need to have in place as an adult is a Durable Power of Attorney. This document names someone to make financial and legal decisions for you if you can’t make them for yourself. Beware of the one-page standard durable power of attorney you find on the internet where you just check off a list of applicable powers. I’ve seen family members try to use those to access their loved ones assets and then not be able to because the form was too generic. It’s important for your college kids to have this in place too because if they are in an accident you are going to need to take over paying the bills and get access to bank accounts and make legal decisions. But, you will have to go through a long and expensive court process if there’s not a signed Durable Power of Attorney in place. It’s the same for you too. If you are in an accident, and you don’t have a Durable Power of Attorney in place, it will be difficult for your family to deal with things on your behalf. So, regardless of the amount of money you have in the bank, get your Advance Health Care Directive (or living will) and your Durable Power of Attorney in place at the bare minimum. Oh, and of course, as stated above IF YOU have KIDS under 18 at home, get your comprehensive Kids Protection Plan in place at http://www.dedeskidsprotectionplan.info None of this has to do with money. It has to do with making life as easy as possible for the people you love. Of course, if I can be of assistance, just let me know.

Wishing you a Healthy and Wealthy 2010

Well, we are now in our second week of the New Year. Have you broken any of your 2010 Resolutions? Or Better yet have you started them? Well, last week I mentioned Organization for the New Year and had the Financial Freedom Notebook Free if you scheduled an appointment. Many of you were wondering what is the Notebook and why do I need it? Well, the featured article is all about why you need one. By having this notebook in place you are going to get more aware of your family finances, learn to live within your means and generally gain awareness you didn’t have before. Enjoy the week and I hope to hear from you soon. Love and Blessings,

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At a minimum, here’s what you put in it: 1. Monthly bank statements for every bank account you have, including any custodial accounts in your kids’ names (keep 12 months worth of statements in the notebook and then scan and archive older statements). 2. Monthly brokerage account statements for every brokerage account you have, including college savings accounts, like 529s (keep 12 months worth of statements in the notebook and then scan and archive older statements). 3. Monthly retirement account statements for each of your retirement accounts (keep 12 months worth of statements in the notebook and then scan and archive older statements). 4. Monthly insurance policy statements for each of your insurance policies ((keep 12 months worth of statements in the notebook and then scan and archive older statements). 5. Copies of your insurance policies (keep these forever). 6. Documents related to any other assets owned, such as the pink slip for your car or lease papers if you are leasing your car. 7. Monthly mortgage statements (keep 12 months worth of statements in the notebook and then scan and archive older statements). 8. Monthly credit card statements (keep 12 months worth of statements in the notebook and then scan and archive older statements). Also, in this section, keep a list of all of your credit card numbers, along with their security codes and the 800# on the back of the card. This list will be a lifesaver if you lose your wallet. 9. Any other loan statements or statements evidencing liabilities you may have, such as student loans, personal loans from parents or car loans. 10. Family Profit and Loss Statement: This is a monthly updated ledger of all income that comes into your family and all expenses that go out. 11. Family Balance Sheet: Updated monthly, this will list out the current values as of month’s end for each of your accounts, including liabilities. 12. Estate Planning Section: Your whole estate plan would be too big to keep in your Family Freedom notebook, but you can keep a CD or jump drive with your estate planning documents on it and any documents related to the transfer of assets into your Living Trust. Plus, keep your long-term guardian nominations and your Kids Protection Plan, medical powers of attorney for your kids, and your own health care directives and powers of attorney in this section as they will need to be accessed immediately if anything happens to you. 13. Other personal legal documents: if you own property with anyone else, have entered into any business arrangements, or have personal legal agreements, keep those in this section. 14. Pay stubs: keep a year’s worth of the part of your pay stub that shows how much you got paid, how much went to taxes and how many hours you worked. I can’t tell you how many non-breadwinner spouses have told me they don’t know how much money the breadwinner spouse makes. Bad idea. Make sure you know and have the records. 15. Social Security Statement: You know that green and white letter you get in the mail each year that says how much you’ve paid into social security and how much you can expect to get, keep it here. I can’t promise you’ll actually get this as our system may not have the money to fund it, but you can at least keep the record that shows you paid into the system. Obviously, this notebook contains very sensitive information, so consider keeping it in a small fireproof safe in your house. Just make sure the safe is not one that can be lifted up and carried away by a thief. Make sure it’s the kind that anchors into the ground or the wall. Please note: this is not a household notebook or a Family Emergency notebook. That’s a whole different animal and something that SHOULD be kept accessible to other family members, babysitters and household helpers. Hope to talk to you soon about getting your financial affairs in order.

Wishing you a Healthy and Wealthy 2010

How did you spend your New Year? Have you taken time out for yourself to reflect on the past and forge ahead to 2010? I sure hope you did. I spent time with my family and friends and did much reflecting on the New Year, 2010.

As part of Cuban tradition, and for as long as I can remember, I have always started off the New Year in the same way. My Cuban great grandmother did this every year until she was 102! So if it was good for her, it must be a great tradition to incorporate into my own celebration. At the stroke of midnight of the New Year, you toss water out the front door to “wash away any bad or evil spirits” that existed in the previous year and then eat 12 grapes representing good health and wealth for the next 12 months.

Speaking of health, this week we are continuing with creating your community, and we are talking about creating an “entourage for your health and wealth.” No matter where you today, I encourage you to take a look at your health and wealth as a whole person. Without your health you have nothing. But health means many things to many people. Some examples might be an exercise program, dieting, eating healthier, getting organized or even clearing the clutter out of your life. So take time and start 2010 correctly so you can create your own entourage!

In addition to getting your health on track, I suspect with all the stresses of 2009, you may have allowed your financial and legal affairs to go by the way side. January is about new beginnings and is the perfect time to get your Legal and Financial Life in order as well. So schedule your free Family Wealth Planning session ($750.00 value) and I will give you a Financial Freedom Notebook (cost invaluable) to get your Financial and Legal affairs in order!

As you read the featured article I hope that you will reflect on the message and begin to create your own “entourage”.

May 2010 be a healthy, wealthy and organized year. Oh and if there were any” bad or evil spirits” that existed in 2009, toss that water out the door (its still early in the year) and wash them away!

Love and Blessings