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My last few articles have focused on various end-of-life issues that were made very real to me due my mother-in-law’s recent death. In this article, we’ll discuss the simple steps you can take that will make dividing

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

your personal possessions easier on your family.

In many cases, the division of personal assets gives rise to family conflicts and disputes. There’s the family china, the furniture, clothes, guns, jewelry and other

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

collectibles. The disposition of these items is often handled in a Will or Living Trust with a statement such as “divide my personal possessions equally among my children”. But this isn’t very specific and can easil

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

create disagreement.

The death of a loved one is always very emotional. Personal possessions take on greater significance than they ever had before. Before your death they were just knick-knacks, now they’re pieces

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

of you that your loved ones will cling to in their time of loss. Your old rocking chair, string of pearls or favorite hunting rifle become poignant reminders of good times and pleasant memories.

They’ve lost you, b

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

t they don’t want to lose what you left behind. Anger, greed, resentment, past injustices, and more all come to the surface, mixed with the loss, shock and grief of death. In normal circumstances, these emotions woul

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

d be easily controlled. But when combined with the grief of loss, things can be said and done that would make a soap opera producer blush.

Everyone has heard of families locked in legal battles for years over who ge

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ts what. Brothers and sisters refuse to talk to each other ever again because they didn’t get what they thought they deserved. Prized possessions quickly disappear as heirs go through your home, taking what they want

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

before the others get their chance. Suspicions run high, every action comes under close scrutiny, and there’s more conniving and back stabbing than on an episode of Survivor. But it doesn’t have to be this way.

The

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

good news is that most of this emotional mess can be easily avoided. Sure, your death will still be a traumatic event, but by taking some important steps, you can greatly minimize any confusion and strife.

Instead o

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

disposing of your personal possessions as a group in your Will or Living Trust, I suggest that you create a list separately and have your Will or Living Trust refer to it. Your attorney can help. By having a separat

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

e list it will be easy for you to keep it up to date as your situation or desires change, without having to update your entire Will. It is important that you sign and date it, though.

For example, one deceased clien

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

t made a list of specific bequests shortly before her death. She even had a niece type up the list and date it. But she didn’t sign it. As a result, her wishes won’t be carried out unless all of her beneficiaries agr

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

e to them. Simply signing the list in this situation would have ensured her wishes were carried out.

In order to facilitate your wishes being carried out, it is also important that your possessions are properly safe

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

guarded until they are divided. Protecting and safeguarding your assets is usually the job of your executor. Many times, though, the person you named as executor doesn’t know it or isn’t aware that it is their respon

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ibility to protect your assets.

So I suggest you let the person you named know they are your executor. Let them know the location of your Will or Living Trust and where you keep the list that details how you want yo

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ur personal possessions divided. Explain to them that you want them to safeguard your possessions so they can go to the person you’ve name instead of the first person to take them!

My mother-in-law is a great exampl

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

e. Knowing she had terminal cancer, she sat down with her family and explained how her possessions were to be divided. She let them know the location of her list. As difficult as the meeting was, it prevented countle

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

s problems after her death.

If you have a specific question or would like more information go to www.guardingyourwealth.com. You can also reach me by email at jeff@guardi

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ngyourwealth.com. I will be happy to help you in any way I can.

Mr. Voudrie is a Certified Financial Planner and the President of Legacy Planning Group, Inc., a Private Wealth Management firm in Johnson City, TN

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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All business, companies, and employers in the United States must become compliant with all safety and health regulations and standards established by OSHA (Occupational Safety and Health Administration) as well as their particular state in the U.S.

Applying for a mortgage loan is quite an important step for many people. However, many are quite adamant about actually applying for the mortgage loan simply because people are not sure what they need to qualify for one. The qualifications of a mortgage loan are actually not that complicated.

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