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Speaker 1: Suze Orman here and I have a story for you. This morning, I was having breakfast with KT and Sandra, who's a really relatively new friend of ours here on the island. And she had come over and we were talking and I was saying Sandra, what did you do? You know, how did you spend all your years and blah blah blah blah. And Sandra then goes on to talk about how she was a nurse. And how she was a nurse that was deployed on aircraft such as helicopters, emergency nurses when somebody had to go somewhere where a car, or you couldn't get to this person, and she would go with the doctor, and they would have to fix everything, get them on the helicopter, and bring the patient back. And I was just so fascinated with that because there's a whole part of life that is the unknown, and that part is death. And so I was asking questions such as, what's it like when you see somebody die? At the moment of death, is it always the same? And I was asking one question after another question after another question. And I know, that these are questions you've thought of, you wonder about. And I was getting answers from her perspective, and one question led to another question, and finally I said to her Sandra, do you think that there's such a thing as life after death? Or when you hear those stories, those stories of people seeing the white light and all of that, do you find that anybody's ever told you stories about that? Or, or is that true? Is that not true? And Sandra went on to tell me more stories about how people would always tell her about that white light, but that there was a time once when she was asked to be in the actual emergency room. And she was there with many of the other nurses and the doctors and they had brought in somebody who was really, really close to death. And they had this man hooked up to all of these machines and feeding tubes, and they were struggling to save him. They knew that they could possibly lose him at any single moment, but they worked and they worked and they worked, and guess what? They were able to save him. But then Sandra said to me but Suze, the strangest thing happened. When he was revived, he was angry. He was angry. He started pulling out tubes and he was yelling, why did you bring me back? I didn't want that. Why are you doing this? And all the people were leaving the emergency room, because he was getting so angry. But Sandra decided that she would just stay there. And finally when he calmed down a little bit, she said to him why are you so angry? We saved your life. And then this man said, I was finally at peace. I was relaxed, I wasn't in pain anymore, everything was how I always wanted to be. And then all of a sudden, here I am back again, and now I'm in pain. I don't want to be in pain. Why did you bring me back? I was so happy. But it was too late because he was brought back. And then the next day she said he called in his entire family. And he wanted to redo his paperwork. And part of the paperwork that he wanted to redo was he wanted to have a DNR in his advanced directive and durable power of attorney for healthcare. And I'll get to what those are in a second. But a DNR is do not resuscitate. If I'm in a situation and my heart isn't working, do not shock me., do not resuscitate me. Let me just die. And he signed that paperwork and everybody and his family agreed that all right, we now understand that. Two days later his heart stopped and they could not resuscitate because he had a DNR, and he died. Now why am I telling you this story? I don't know, possibly because I just found it so fascinating. But I found it fascinating, that we need to have the paperwork in place today so that our wishes really are fulfilled. Now maybe this man didn't know that his wish was to not be resuscitated until he had whatever experience that he had when his heart had stopped. But these are all things that you need to think about. I know you want me to tell you stories about how to be stronger, be smarter, be secure, what to invest in. Should you buy? Should you sell? What type of retirement account should you have? Should you pay off your student loans? What about credit card debt? What about an emergency fund? How about life insurance? Should you have term, should you have whole life? What should you do there? You want me to tell you all those things about real estate, should you buy, should you sell? What kind of mortgage? How do you hold your title? And those are the things to accumulate wealth and so that you can have more money. But yet, you don't really want me to talk to you about your life, and the eventuality that all of us possibly could get sick. All of us absolutely will die. You don't really want me to talk to you about making sure that everything is in place today to protect your tomorrows. You just want to hear about the good stuff, and getting more, and all of that stuff, and not deal with anything else. So I tell you this story, because part of being a powerful woman and man, is that you really are the masters that can control your destiny. And it's not that you can control your destiny really in the things that are going to happen to you, but you can control how you handle the things that are going to happen to you, especially if you can't handle it yourself. So, there are four documents. Four. That every single one of you must have. And in season one, I think it was an episode 11, I go into great detail about these documents. Especially a will and a trust. But it is really important that you at least know about these documents, and that you think about these documents, and that in fact you put them in place. And the four must have documents are a living revocable trust, all will, an advanced directive, and a durable power of attorney for healthcare. Just briefly, a durable power of attorney for healthcare is the document that says, who is going to make medical decisions for you if you cannot make them yourselves. An advanced directive is in advance of you getting sick, you give a directive to your doctors as to do you want to be resuscitated, do you want to be put on life support, what do you want to see happen if something happens to you? A will is simply a document that says where your assets are to go upon your death. But it does it in the most cost ineffective way possible. I will tell you that the less money you have, a will is not enough. So many of you have bought the ticket that lawyers are trying to sell you that all you need is a will. I am here to tell you if all you have is a will, in most cases, you are making the biggest mistake of your life. A living revocable trust. Living, you do it while you're alive, revocable, you can change it anytime you want. Trust is the name of the document. Your assets are held in trust for you while you're alive, and you've already named within the trust where those assets are to go upon your death. But because you've transferred the title from your individual name into the title of the trust, something happens to you, immediately within about two weeks, your beneficiaries will have everything. Versus a will, that could take six months, to two years depending on the state that you live in. But a trust also helps you because most trusts have what's called an incapacity clause. So if you are in an accident, or you can't sign for yourself, you've already designated who's going to pay your bills for you. Who's going to write your checks for you. If you own a home just in your individual name and now you're in an accident and that house needs to be sold, if all you have is a will, a will is not going to help you because you're not dead. So if the house is just in your individual name, how's it going to get sold if you can't sign the deed? That's where a revocable living trust with an incapacity clause in it comes in to play. It allows you to sign for somebody else, somebody else to sign for you, and especially if you have minor children, please understand minor children cannot inherit money, people. So if you have a minor child as the beneficiary of your assets, most likely it's going to end up in a blocked account until they're 18 years of age, and they're not going to be able to get it unless there is a court order, which means now you need a lawyer. So I started today's podcast with the story of how important it is for you to have control over future things that absolutely will happen to you some point in your lifetime. And therefore, you have got to take action. To be strong, to be smart, to be secure, that means you have taken care of every possible thing that you need to take care of when it comes to your money, when it comes to your assets, when it comes to your life. And these four documents, I am telling you again, these are must-have documents that every single one of you needs, bar none. Now I'm just gonna let you sit with that for a while. And what I'm also going to ask you to do is if you have questions, what's the difference between a will, what's the difference between a trust? Why do I need this? Blah, blah, blah, blah. I want you to do a very simple thing. Just right in to asksuzepodcast@gmail.com with your question. With your question. And therefore coming up in a few days, I'll be able to answer those questions for you. This probably is again one of the most important podcasts you could ever listen to. This particular one here, as well as the one that I did last year on season 11 in case you missed it. So just think about that. And remember, the future really is in your hands.