Well, this is a bit embarrassing; but if just one of you learns something
helpful from this, that’ll make me glad.
-----
Seronac,
"
ALWAYS have MY OWN attorney present when signing a legally binding
document!"
Where were ya when I needed ya?
Bear in mind that, some twenty years ago, I was new to the civilian world. A
neophyte. I was new to Texas and anticipated a social structure where deals
were agreed upon with a handshake and a man’s word was his bond.
I found I didn't need an attorney for simple transactions. I could save
$200-$300 by "doing it myself".
Well, I ended up "doing it
TO myself!"
Saving that $300 cost me more than a year's income in one giant slap!
But I had a good job as a manager of a $3 million/year computer store. The
owner promised me the job for as long as he owned the business so I bought
a nice home (in the middle of a “boom”) - with $1400/month mortgage
payments.
He sold the business. The new owners wanted to manage the store
themselves. I was jobless.
While searching for a new job, we were forced to use our emergency fund
and a chunk of our retirement fund. When you’re not working, those “easy”
monthly payments hit pretty hard. And, with two little girls in school.....
Finally I found a job with a computer software research and development
corporation. I worked myself up to the position of comptroller. Once again
we were financially stable and beginning to recover lost ground.
Then the oil crunch hit and the entire corporation closed. With only a small
income, we used the rest of our retirement fund for living expenses. We sold
our home (at a loss) to rid ourselves of the $1400/month mortgage
payments.
Each problem caused one or more subsequent problems - like the "domino
effect" - and caused extreme financial and emotional distress and problems
for myself and (worst of all) for my family.
That $300 I "saved", wiped out our emergency fund. Then when two
“emergencies” hit, we wiped out our retirement program (and most of our
financial future.)
Only now are we recovering from the sequence of burdens which destroyed
our financial security because I "saved" $300.
The only reason I survived this mess is the support of my wife. She's the
"Rock" of
this household - always was, always will be.
So I’ve learned the hard way. If you need a mechanic, get a mechanic. If
you need doctorin’, go to a doctor. And, for the sake of yourself and for
those whom you love, listen to the voice of one who lost - BIG!
“If it’s not in writing, it’s not worth the paper it’s (not) written on.”
“Cover all the bases. Dot every ‘i’ and cross every ‘t’.”
“
Never do legal work without the advice of a competent attorney!”
Smart folks learn from
others’ mistakes.
Just food, tranportation costs and a case of ammo for one of my guns 