SELF-DEFENSE

March 21, 2008

Where there's a will, there's a way!

The unexpected often happens in ways that result in minor embarrassments or inconveniences, such as breaking a heel or running into your ex-husband and his new girlfriend at your favorite bar. But sooner or later, each of us will encounter at least one of life's major catastrophes: death, illness, random acts of nature, or even manmade disasters in this age of heightened national security. Although we cannot control these events, we can help protect ourselves and our loved ones in case the unthinkable enters our lives, through estate planning.

For a long time, it was thought that estate planning was only for the wealthy, but that's far from true. Even if all you can bequeath are student loans and Manolo Blahniks, you need to get organized and plan for the worst so that your loved ones won't be left with debt or difficult decisions. While getting life insurance can be a great start, it's not enough. There are wills, health-care directives, and more. For most of us, beginning the process can feel overwhelming. Thankfully, every woman's BFF (Best Financial Female), Suze Orman, has created the Ultimate Protection Portfolio.

This great kit helps you create, organize, and store your most important documents, such as wills and trusts. It's organized according to the 10 most important financial areas of your life and supplemented with essential forms, calculators, and worksheets to help you make the critical decisions about your financial life. It also comes with an interactive program that includes an audio of Orman walking you through each step. It even contains information on estate-related laws in all 50 states.

Packaged in this translucent plastic blue case are 50 documents, including Orman's recommended must-haves: will, revocable trust, advanced directive and durable power of attorney for health care, and financial power of attorney.

There couldn't be a better way to say "I love you" to your kin!

Image courtesy of Suze Orman

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