We often don’t have the right preparedness plan in place until disaster strikes. Each time we’re jolted out of bed a little reminder in the back of our brain says take action. But, then, days go by, and we start to move that down the list until finally it’s no longer important anymore and is filed under the “I’ll get to it someday list.”

Last week, an earthquake measuring 4.4 on the Richter Scale struck Southern California reminding us of the importance to be prepared for when that “Big One” strikes.

Let’s face it; the plates appear to be on the move with large and small quakes arising everywhere. There has been recently a quake in Chile, Japan, Indonesia, Turkey, Haiti and now California, too. This is the time to review how prepared you are in case an earthquake strikes. I know that I, too, need to go back and make sure everything is in order.

My girlfriend, Karen, who teaches first aid, reminded me of what the Red Cross recommends that you should have on hand in case of a major disaster:

• A 2-week supply of water – a gallon of water per person for at least 2 weeks – don’t forget your pets
• Medicines – both prescription and over the counter
• Canned food items
• Baby Formula and bottles for your infants
• Pet Food
• A first aid kit (this is always good to have at home/work/car)
• Working flashlight
• Radio that works on batteries
• Important legal documents

A complete list of recommended items by the Red Cross of what to include in your emergency kit can be found online.  To view it, just go here.

Copies of wills, trusts, deeds, insurance policies, credit card information should all be kept in a zip lock bag along with your emergency kit.

Just like we need to be prepared for when disaster strikes, it’s important to have the proper legal planning in place to ensure that, when that day comes, all your financial and intellectual wealth passes smoothly without exorbitant costs, disputes or delays.

Every American must have 5 important legal documents, which are discussed in the feature article below. If you don’t have a legal plan in place, I want to make it easy for you to put it in place. Just schedule an appointment in the next 2 weeks, mention you read this E-zine, and you will receive a $500 discount off your planning and a complimentary Family Wealth Planning Session (a $750 value).  Call us today at 818.905.6088 and say you want to take advantage of the E-Zine Special.

To Your Family’s Health, Wealth & Happiness,

Personal Family Lawyer®

Whether you are single, married, have children or not, every American should have these 5 legal documents in place regardless of wealth. These documents are discussed by Alexis Martin Neely in her 4 minute CNBC video segment.

Click Here

What Are They?

1. Kids Protection Plan. If you have children, you need to have a plan in place that names legal guardians. But it’s not enough to name guardians for the long term, you must also name “first responders” someone who can get there immediately and is close by. Without the first responders, you risk that your kids could be taken into child protective services if the long-term guardians can’t be located or can’t arrive timely. In addition, an emergency ID card should be carried in your wallet that states you have minor children and lists the phone numbers of the guardians – in case of an emergency.

2. Will. Again, regardless of how wealthy you are, you need to make sure your money and personal belongings get to who need them in the event of your death. A will allows you to decide who handles your affairs as well, rather than leave it up to the court to decide.

3. Living Trust. If you have assets, other than personal belongings and bank accounts. Assets more substantial such as a house, investments, or insurance, a trust will keep it easy for your loved ones to be protected. If you don’t have a living trust, a court could end up deciding who gets your assets with substantial expense and time delays involved.

4. Power of Attorney. Once you turn 18, you need a financial durable power of attorney. This legal document allows you to specify who you want managing your finances and affairs if you should lose capacity. Without one, again, the court will decide, substantial expense is involved, and it may not be the person you wanted to handle your finances.

5. Advanced Health Care Directive. Similar to a power of attorney, an advanced health care directive lets you name who makes medical decisions for you if you’re unable. It also includes your wishes and desires regarding life support and other medically related issues.

If something happens to you, you don’t want to leave it up to your family to figure things out. By having the right documents in place and a relationship with your Personal Family Lawyer, you can ensure that your documents remain up to date and will work when you need them the most –allowing for a smooth transition to your loved ones.

A Special Needs Trust can be established by a parent to preserve the child’s government benefits, enhance the childs qualify of life, provide a system of adequacy and address the child’s ongoing ‘life’ issues.

How does the special needs trust preserve government benefits?

A child with a disabilty at age eighteen is going to be eligible to receive social security income (SSI). To qualify for SSI you must have less than $2,000 in assets and limited income. Prior to the age of 18, the parents income is deemed to the child and therefore most children will not qualify. At age 18, parental deeming stops, and then the disabled child can qualify for SSI

SSI is designed to pay for food and shelter and provides a monthly benefit in 2009 of _________. Some states add an additonal benefit. For example in California the total monthly benefit is __________. Even with this combined benefit, the monthly stipend is not going to

I hope you had a wonderful July 4th Holiday! It’s been a little quiet in the office since this was a big week for vacations and long weekends for many of my clients.

We went to a fireworks show, which was a lot of fun. I’ve heard stories from several who live in places like San Pedro, at the Port of Los Angeles… what a fireworks display they had! From Palos Verdes to Long Beach and all cities in between and beyond, to the cruise ships’ shows… there can be as many as 10-15 going on at one time. I’d love to experience that sometime and maybe next year… Read More→

We just returned from a trip to Vegas. Taylor, Hailey and I drove over for a Jonas Brothers concert. Thousands of screaming 12 to 15 year old girls made a memory for my daughters, but for me? Well, I’m being fitted for my hearing aid next week. (smile)

Las Vegas is such an interesting place with, of course, the gaming industry taking top billing for the city’s draw. But as everyone knows, you can see the best entertainment in the world. I took the girls, also, to see Jersey Boys and we wowed and oohed at La Reve at the Wynn (an amazing acrobatic show that you’ve got to see if you’re in town there!). Read More→