Most of you have realized that a heath care proxy wherein you give someone else the authority to make health care decisions for you in the event you are incapacitated is an essential estate planning document. However a living will is equally important.

A living will is a legal document that you use to make known your views regarding life prolonging medical treatments. A living will is often referred to as an advance directive, health care directive, or a physician's directive. Without a living will your health care agent will be tasked with the tremendous burden of making life and death decisions for you without maybe fully knowing if the decisions made were the same decisions you would have made. However with a living will that burden is lifted and your loved one will surely be more comfortable in her role as health care agent if she is fully confident that she is making the same decisions you would make.

I know first hand that making the decision to resuscitate can be an awful burden. When my father became increasingly ill, I discovered that he listed me as an alternate on his health care proxy. My father did not have a living will. A few days before he passed away the family began discussing whether to resuscitate him should the need arise. Since I was not his primary health care agent, I never had to make that decision and my father passed without being resuscitated. Should I have been tasked to make the decision to resuscitate I am not sure what my decision would have been. I probably would have told the doctors to do all that was in their power and I would have hoped for a miracle. At 58 he was too young to die.

I sincerely believed then as I do now that if my father, an attorney himself, was 100% sure that he did not want to be resuscitated he would have made that desire known. The most he has ever come to deciding whether he wanted to be resuscitated was a droll "I am not too sure about that." For the peace of mind of your loved ones make sure that your wishes are followed by creating a living will.

The following article was submitted by Rahkel Jackson, Esq. www.BouchetJackson.com

As the dramatic surge of foreclosures continue, many are pointing the finger at the lending industry with accusations of deceitful and predatory lending practices. A number of foreclosures have resulted from loans th at were doomed from the beginning because lenders and mortgage brokers neglected to reasonably assess the borrower's ability to repay the loan. The aftermath has left borrowers, across the country, unable to afford their mortgages and now in jeopardy of losing their homes.

If you are behind on your mortgage, the most effective option available to you, to help avoid foreclosure, may be a loan modification. So what exactly is a loan modification? The simplest explanation ... a loan modification changes the terms of your mortgage, presumably, to lower your interest rate and payments. If you and your lender can agree, your existing loan can be modified to whatever terms are mutually acceptable, to make your mortgage payments more affordable within your budget. This is often the most cost effective option for everyone, since the modification does not require a new survey, title search or closing costs, often associated with a refinance, and for the lender, it cost less than defending a foreclosure. Modification agreements come in various forms but often they involve reducing the borrower's interest rate, for a specific period of time, to help them to continue to make payments and stay in the home. The modification agreements can also extend the amortization term (i.e. Instead of 30 years, they can be changed to 40 years) which will result in lower payments.

Before you contact an attorney to negotiate your modification, you need to get organized. You will need to gather the following do cuments: (1) your original loan documents, (2) an updated income & expense form, (3) your most recent pay stubs, (4) mortgage statement, credit card statement (s) and utility bills for the past twelve (12) months. You will also need to write a "hardship" letter, explaining to your lender your current financial situation (your lawyer can assist you with this). This will help you determine what you can afford so your attorney can negotiate the best terms for you. A word of caution: since a loan modification request typically results in less interest, many lenders have little incentive to just say "yes". Your lender may closely examine your request and require you to make some sacrifices as well. Be prepared to cut some of your monthly expenses. Perhaps you don't need all the premium channels on your TV.

In these tumultuous economic times, with foreclosures on the rise, the concept of loan modifications is becoming more widespread; to reduce the loss suffered by the lenders in today's real estate market. If you are behind on your mortgage and do not see any financial relief in your immediate future, a loan modification may be worth considering.