Friday, October 17, 2008

Growing Old Takes Planning!

Every responsible adult in America will sit down and seriously think about growing old, and all that comes with it. There's a lot to think about. How much money will you be earning in the future? Who will take care of YOU if you get sick? What would YOU do if you had a stroke right now? What if an earthquake ravished your home? When you turn 70 years old, will you be able to take care of yourself? Will your kids take care of you if you lose your mental faculties? Do you have a trusted individual now in mind who would be willing to make decisions for you in the future? Do you have a will? Do you know about insurance- like life insurance (there are many kinds), long term care insurance, etc? Do you have a lawyer to consult with to help you in making all these decisions in planning for the future? Heck- do you have a will? Did you know that if you don't have a will, the State court will decide who gets your property after your death? Do you know about living trusts? If you were to have an accident today, do you already have a living will, or an advanced health care directive? Are YOU looking out for your parents? For your kids? For YOU?

Now, think about people who live in Galveston, Texas or Houston, Texas, who are filing claims with their insurance companies right now for damage done to their property. My uncle is a lawyer in Texas- he helps low income people with their claims. There are a lot of claims right now due to the recent storm- Ike. Insurance companies will often challenge you on paying claims, and it's not uncommon to be denied your claims. That's why having an attorney is essential today- you must know your rights. Attorneys can be expensive, but they don't have to be. The top 10 percent of income earners in this country have attornies at their disposal- they use them all the time as a part of their daily routines- they consult with them on making almost every decision. That's one reason why rich people are rich.

The bottom 10 percent of income earners in this country have access to free legal help. They can't really afford to go out and buy the best lawyers, so they often turn to the public defenders and legal aid organizaitons. It's free!

The other 80 percent of people still need legal help, but are often unwilling to seek it due to the most often high cost of legal fees. On average, a lawyer can easily cost $300 to $400 per hour.

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