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Advance directives and an in-hospital DNR

Each state has different rules( using Texas rules here) but here are three advance directives to communicate your medical wishes and to designate your spokesperson: 1) a Directive to Physicians (the so-called Living Will), 2) a Medical Power of Attorney, and 3) an Out-of-Hospital Do-Not-Resuscitate (OOH-DNR) Order. Lawyers typically include the first two in basic estate planning packages. Only doctors can complete the third.
The Directive to Physicians applies when you cannot communicate and have a terminal or irreversible condition. The standard choices are withhold life support or do not withhold life support. Custom language is allowed, e.g., let my doctor and my agent decide together.

The Medical Power of Attorney applies when your doctor certifies you are incompetent to make medical decisions. The agent is supposed to communicate the decision you would have made.

The OOH- DNR allows you to refuse CPR, airway management, ventilation, and cardiac pacing or defibrillation. It applies to nursing homes, clinic, and other out of Hospital settings, e.g., home or a restaurant. (

DNRs are not just for the terminally ill. Skilled nursing and assisted living facilities tend to offer them to all new residents, not just the sick ones. Cardiac patients who live at home may also have a DNR. These people have not given up hope, but are skeptical about being revived with CPR or sustained on a ventilator. Many lead happy normal lives. They take their vitamins, see their doctors and get flu shots.

DNR patients also go to the hospital. When transported a copy of the OOH- DNR must go with the patient. The OOH-DNR is effective in the emergency room. It is not effective once the patient is admitted to the hospital.

Mistakes in Estate Planning

No one knows when they are going to die. Most people feel they have ample time to make preparations, but, too often people die prematurely. Here are some typical estates planning errors I have seen in my career.
1) No will or trust.
2) Not updating beneficiaries in the will or trust.
3) Not updating beneficiary designations on IRA/401K or other qualified plans (especially after a death or divorce).
4) Not having a list of usernames, passwords, and answers to “secret questions”. This list needs to be available to spouse or executor of your estate.
5) Not notifying the 3 credit agencies immediately so no one can claim identity of the deceased. Unscrupulous people check obituaries and then try to apply for credit cards in the name of the deceased.
6) Not requesting at least 20 original death certificates with raised seals to unlock insurance benefits, investment accounts, Social Security, Medicare, Medicaid benefits (some people say, but, all my accounts are JTWROS. You still must provide proof of the death).
7) Not preparing for higher automobile insurance rates when one spouse dies (since the risk is higher for only one person).
8) If the deceased was the owner of a credit card and the spouse was a user, then the accounts will be cancelled. Consider having separate cards.
9) Special collectables like guns and sports cars need to have all the paperwork available to sell or transfer the title.
10) Not having an accurate summary of ALL your finances.
The list goes on and on.
Sit with your financial advisor to get started on it today, not tomorrow.

Ways to Save $$$ , Part 1

* Sell to Amazon. They accept a slew of old items like videogames, books and Kindle Readers for trade-in, or, in exchange for a gift card. Check out the Trade-In Store. If listed, then print out the shipping label and send it.

* Get Free E-books. Download 60,000 public domain E-books at

* Mulch for Free. Google your County name and “free mulch” or ‘free compost” to see if it is offered.

* Dine for less. offers discounted gift certificates.

* Call before you pay. Banks and Credit Card companies will usually waive a rare late payment fee. That can save you $35-$39.

* Skip Rental Car Insurance. Check with your Carrier first to see if you are covered adequately. Most times your Auto Policy covers the use of Rental cars. Save a bundle each time you rent.

Now , you know me. With these savings Don’t Spend it ,rather, invest the savings for your future

Do you really need Life Insurance by Paul Ferraresi

Let’s face it. Most people put off buying life insurance for any number of reasons. Take a look at this list—do any of them sound like you?
1. It’s too expensive. In the ever-burgeoning budget of having a family, things like day care and car payments and possibly even college tuition eat up a good chunk of the money each month, and a lot of people think that life insurance is just outside those “necessities” when money’s tight. But two things: life insurance is often not nearly as expensive as you might think, especially when you can get a good policy for less than the cost of a daily cup of coffee at the local café, and well, if money’s tight now, what if something happens to you?
People with no life insurance overestimate its cost by three times. And even those who have coverage, overestimate its cost by two times.1 While it is an expense that you have
to budget for imagine what the financial impact would be
for your family if something were to happen to you and you had no life insurance coverage at all.
2. That’s that stuff for babies and old people, right?
Funny, recent surveys show that 71% of people say they personally need life insurance ,yet, only 51% have coverage.
3. I’m strong and healthy! You eat right, you stay active, and everyone admires how grounded and centered
you are. You passed your last physical with flying colors! That’s GREAT! But you’re neither immortal nor
indestructible. It’s not even that something could happen to you—though it could—so much as when you’re at your strongest and healthiest, there’s no better time to get a policy to protect your loved ones. If you fall
seriously ill or suffer significant injury later, it will make it tougher to get that kind of policy, if any at all.
4. I have life insurance through my job. Many people are offered life insurance as part of their employee
benefit coverage—and often, it’s the first time they encounter life insurance and have no idea that a $50,000
policy, or one or two times their salary, isn’t as much as they think it is. It sounds like a lot of money (and it
is!), until you realize that it has to cover some or all of the expenses for your loved ones in your absence. Plus,
if you leave the job, it’s typically the type of insurance that doesn’t “move on” with you.

5. I don’t have kids. Sure, kids are a big reason why some people get life insurance. But that’s not the only
litmus test for needing protection. If there is anyone in your life who would suffer financially from your loss—
your spouse or live-in partner, a sibling, even your parents—a life insurance policy goes a long way in making sure everyone’s still okay even if something happens to you.
6. Life insurance—it’s on my list… eventually. There’s no deadline on life insurance, no mandate from the government on purchasing it. Your parents may have never talked to you about its importance, and it’s certainly not the most invigorating topic for conversation. But don’t let your “eventually” turn into your loved ones’ “if only.”
If any of this sounds daunting, just know that it doesn’t have to be. Be sure to talk things through with your
Insurance agent. Your financial professional will help you figure out how much you may need, and find a policy that fits into your budget. There’s a policy to fit every budget, and a life insurance agent can help you find coverage that’s right for you.
Information for this article was provided by Life Happens, a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families’ financial futures:
The opinions voiced in this material are for general information only and are not intended to provide
specific advice or recommendations for any individual. To determine which investments or products may be appropriate for you, consult with your financial professional.

The Next Major Stock Market Correction by Paul Ferraresi

Sure , this market can continue upward for a while longer, but, forces are against it going upward forever( Remember trees do not grow to the sky).
Stock P/E ratios ( price/ earnings) are at super high levels, earnings at many companies are leveling off, and, interest rates are on the rise. These are all the same factors that took place prior to the 2000 and 2007 massive market corrections.
I am not saying you need to immediately move into cash. Rather, there are superb strategies you can employ ( for your personal monies, IRAs and 401k/403b) to avoid 80-90% of the correction while obtaining 80-90% of the rise. Contact me at…….if you want more information