10 ways to protect your self from bankruptcy caused by prolonged illness.
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10 ways to protect your self from bankruptcy caused by prolonged illness.
Accidents and prolonged sickness can be a drain both emotionally as well as financially. Sometimes money crunch is caused by the inability to hold a job, or when the medical bills escalate and it becomes increasingly difficult to balance expenses. Further, medical insurance may prove insufficient or will not cover long term medications. Life has become such that one needs to think about and plan for any eventuality. Experts recommend the following: 1. Ask your doctor for samples of medication. 2. Often an older drug is effective and cheaper. Request the doctor to write a prescription for a drug that is more affordable. According to studies you can save up to 75% this way. 3. Find out the generic name of the medication and choose to purchase it instead of branded medication —the saving can amount to as much as 70%. 4. Very often companies sell higher dosages of medication for a marginally higher cost. Be prudent, buy the higher dosage and spilt the medication in half, one-third, or quarters. The savings you can make are almost 50 %. 5. Order 90-day supplies in bulk from discount mail order pharmacies or online services. The savings are considerable and many doctors help long term patients reduce costs by putting the patients in touch with distributors. 6. If a particular medication is very expensive ask the doctor to recommend a substitute. This is known as therapeutic substitution. 7. Do try comparison shopping. You will find that the same medication is priced differently in local pharmacies, online outlets, and chain stores. Online pharmacies like http://www.walgreens.com/, www.costco.com , or http://www.drugstore.com/ offer medications at affordable prices. 8. There are several patient-assistance programs that offer free or discounted medication to those who cannot afford long term illness. Companies like Merck have programs that benefit uninsured patients. Medicines are given at discounts of 10-40%. 9. If you or a family member travels frequently you could buy your medicines abroad. Often the same medicine manufactured by the same company is much cheaper overseas. One can also order medicine by mail from Canada where medicines cost 30-50% less than the US. But do check the laws before you attempt this. 10. Start a health saving account where you can save pre tax dollars towards unforeseen medical expenses. This has a high deductible. Find out if you or other family members are eligible. Use an insurance broker who always thinks of you. He must keep you updated on all new developments as far as health schemes are concerned and make sure you reap all the benefits of the insurance scheme. You could also consider a critical illness policy in addition to a regular health insurance.
Paul Wilson is a freelance writer for http://www.1888Discuss.com/home-improvement/ , the premier REVENUE SHARING discussion forum for Home Improvements Forum including topics on buying, selling and insuring, automobile, electronics and more. He also freelances for submit free press release http://www.1888PressRelease.com/Legal-0-23.html
How To Incorporate Yourself Without A Lawyer
You could save hundreds of dollars by incorporating yourself without a lawyer. How? Is it advisable to do so?
1. This is Not Legal Advice!
The only ones who should be giving legal advice are those licensed to practise law (in other words, only lawyers). This article is not legal advice. If you need legal advice, consult a lawyer.
This article is being written simply to inform you that it is possible to form a corporation or limited liability company without a lawyer.
2. Why Use a Lawyer?
First of all, if you make a mistake incorporating yourself, who do you sue? You only have yourself to blame. On the other hand, a lawyer has insurance to cover errors and omissions.
Secondly, you could benefit from the expertise of your lawyer. Perhaps a corporation isn`t the right vehicle for you under your circumstances. Be aware that there can be disadvantages as well as advantages to incorporating. Your lawyer can consider commercial law, securities legislation, limited liability, tax factors, estate planning, share structure, and a myriad of other business considerations. Sometimes the advice of a good lawyer can save you thousands of dollars.
3. Is it Advisable to Incorporate Yourself?
Is it advisable to perform surgery on yourself? It is illegal to perform surgery on someone else unless you are licensed to practise medicine, but perhaps in a wilderness survival scenario, self-surgery might be your only option. However, is performing surgery on yourself really a good idea in most instances?
Likewise, just because it is possible to incorporate yourself without a lawyer doesn`t mean it is always a good idea.
In some jurisdictions, only lawyers can incorporate others. For a paralegal or other person to incorporate a company for you could be considered unauthorized practise of law. Thus, it may be legal to incorporate yourself but not others.
Some factors you might consider are: Am I really that short of cash that I can`t spend the extra money for good legal advice that may save me thousands of dollars? Am I confident that my situation is one that really doesn`t need the services of a lawyer to incorporate? Can the money saved on legal fees be better utilized in financing other aspects of my business?
Each person will have to make their own decision on whether or not to seek the services of a lawyer in forming a corporation.
“He who has himself as a lawyer has a fool for a client.” I have often thought that perhaps a law firm originated this common expression.
4. How To Incorporate Yourself
Many books have been written by lawyers on how to incorporate yourself.
For example, in Canada, M. Stephen Georgas, LL.B., has written books on the subject of forming
your own corporation. Published by International Self-Counsel Press Ltd., he has authored
“Incorporation and Business Guide for Ontario” (”How to form your own corporation Includes tax advantages to incorporating”) and “Federal Incorporation And Business Guide” (”How to form your own Federal corporation under The Canada Business Corporations Act”).
The same publisher sells forms and minute books as well as titles for incorporating in other provinces of Canada.
Forms, corporate supplies, name searches, and kits are available from legal stationers and other sources.
In the United States, there are likewise many manuals available for incorporating yourself in various states. “Incorporating Your Business For Dummies” by The Company Corporation and “How To Form Your Own Corporation Without a Lawyer for Under $75.00″ by Ted Nicholas are two such books.
Sometimes helpful information on this subject is available from federal, provincial and state governments for free or nominal cost.
You can sometimes locate incorporation manuals at your local library for free. Be careful. Legal manuals become outdated very rapidly. You might consider very seriously purchasing the most up-to-date manual available; it might also include helpful reference material on maintaining corporate minutes and other helpful suggestions on operating your corporation.
Buy the appropriate manual and supplies and then follow the instructions. With a little effort, you could save hundreds of dollars incorporating yourself without a lawyer.
J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years. To learn more about incorporating yourself and other profitable Work at Home Small Business Ideas, visit <a href="http://www.yenommarketinginc.com/incorporation.html" title="http://www.yenommarketinginc.com/incorporation.html" target="_blank">http://www.yenommarketinginc.com/incorporation.html</a>
Age Pensioners and Bankruptcy in Australia Posted By : Fred Appleton
Aged pensioners often find themselves in financial difficulty. This can be a stressful and miserable time. This article discusses options, such as bankruptcy and how you can in fact restart with dignity. It talks about what bankruptcy entails for you, what you can expect, how and when it may be the best option, and when it would not.
