CHAPTER ONE
Introduction
Your Guarantee
Attorneys don't make a lot of guarantees, but I'll make you an unconditional guarantee. In this book you are actually going to learn how to use a living revocable trust, durable power of attorney, living will, regular testamentary will, pour-over will, and other powerful legal tools. You will also learn how to slash or eliminate estate taxes; protect your home from lawsuits; avoid probate; save on income taxes; avoid legal battles; use lawyers, not be used by lawyers; and implement lots of other money related strategies. But there is something that will someday be more important to you. If you learn the lessons of law I will detail in this book, if you do the things I talk about, and if you actually use the tools of law you learn about in this book, I guarantee it will be worth every effort you make just for the sheer peace of mind you will obtain.
| It doesn't matter whether you are male or female, married or single, rich or poor, young or old. The lessons you learn here will pay huge monetary and emotional dividends, sooner than you think. They can change your life. They can make you happy. They can make you wealthy. Early in my legal career I prepared a will and living revocable trust for a close friend's widowed mother. It took me many days of coaxing and counseling as a friend to get her mother to the point where we actually put the will and trust in place. We detailed exactly what she wanted so that she was comfortable with the legal work. Several months after this tedious process was completed, my friend came to me and asked, "What did you talk to my mother about? What did you tell her? Why is she a totally different person?" Those questions took me by surprise. I didn't know how to answer them. I didn't understand then, but I understand now. It's called peace of mind. Peace of mind may well be the most important ingredient necessary to assure you a happy life. My friend's mother wasn't rich. She only had a small home and some personal possessions. Even though she wasn't wealthy, she had been worried sick for ten years, ever since her husband had died, about what would happen to her property if she went into a rest home or died. She was afraid that the kids would lose money in probate. She had worried, wondering whether or not the children would fight over the property. She wanted the kids to receive everything she could possibly give them, and she didn't want the kids to fight. When we prepared the trust and will, we took our time and did everything just the way she wanted it done. She understood how the trust worked and what would happen when she became sick or died. All of the fears and worries left, and she was happy again—after ten long years since her husband had died. Whether you will admit it to yourself or not, you worry about the same things she did, and you have the same fears. There is absolutely no need to worry or be afraid, once you understand and know the principles of law I am going to walk you through. You have to know these things for yourself because just going to a lawyer often doesn't relieve the worries and fear. In fact, when you see a lawyer, your concerns may actually be compounded, because many lawyers prey upon your fears and lack of knowledge. This is unfortunate, but true. Yes, I am a lawyer, but don't hold that against me. Because I understand you, I am different from most lawyers. I learned law the hard way—on the street, not in a law firm. There isn't anything that you are going to learn about here that I haven't personally experienced. During one period—one long period—in my life, the legal system almost destroyed me, and there wasn't anything I could do about it, even though I was a lawyer. Life isn't what you expect. I wasn't supposed to be the kind of lawyer that writes trusts. I was supposed to be a patent attorney. |
