Personal Finance PowerPoint Presentation, Power of Attorney. Prepare to get financially fit by practicing personal finance. Support Accounting Instruction by clicking the link below, giving you a free month membership to all of the content on our website, broken out by category, further broken out by course. Each course then organized in a logical, reasonable fashion, making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as Excel practice problems, PDF files and more like QuickBooks backup files when applicable. So once again, click the link below for a free month membership to our website and all the content on it. Most of this information comes from Investopedia, Power of Attorney, PoA meaning types and how and why to set one up, which you can find online. Take a look at the references, resources, continue your research from there. This by Adam Hayes, updated July 4th, 2022 in prior presentations. We've been taking a look at estate planning, then particular tools and components of estate planning that could be applicable depending on your situation. This time that being the power of attorney. First question, what is a power of attorney? The term power of attorney, PoA refers to a legal authorization that gives a designated person the power to act for someone else.  Some area where you would typically be making the decisions. You're delegating that decision making process to somebody else and that person hopefully should be making those decisions in accordance with your best interest in mind. So as such a power of attorney, PoA gives the agent or attorney in fact the authority to act on behalf of the principal. So one of the most common ways we see this is when you're in a legal type of situation and you ask the lawyer possibly to be making decisions on your behalf. You've given them the capacity to act in your best interest in your stead in that case. You can think of like real estate agents acting as an agent kind of situation as well and the idea being a particular component in your life. You're allowing someone else to act in your stead. If you have situations where you're incapacitated, for example, you might have situations where you need to of course assign someone else the authority possibly to be acting in your stead in that case as well. So the agent may be given broad or limited authority to make decisions about the principal's property, finances, investments, or medical care. So those kind of specialties, the specifics should be determined and will typically be in the documentation of the specific kind of power of attorney or the reason for which the power of attorney is being created. There are two main types of POAs, power of attorney, financial and healthcare both of which provide attorney in fact with general or limited power. So the expanse of the scope of the power of attorney is something that you want to of course keep in mind when you're thinking about this general concept of a power of attorney. How a power of attorney POA works. A power of attorney is a legal document that involves the agent or attorney in fact and the principal. It is used in the event of a principal's temporary or permanent illness or disability or when they can't sign necessary documents. The principal must choose a POA, power of attorney, who they trust to handle their affairs for them. So clearly you want to have a power of attorney that you think is capable of doing the task, making the decisions and that's going to be acting in your best interest. Documents can be obtained online or through a lawyer. Both parties must sign the paperwork. A third party is usually required to witness it. So you typically need that third party for the verification process. Depends on the state law often times. So the POA document authorized the agent to represent the principal in all property and financial matters as long as the principal's mental state of mind is good. If the principal becomes incapacitated, incapable of making decisions for themselves, the agreement automatically ends. So clearly the one that's acting as the agent needs to have the mental capacity to do so. A power of attorney can end for several reasons such as when the principal revokes the agreement or dies when a court invalidates it or when the agent can no longer carry out the responsibilities outlined. In the case of a married couple, the authorization may involve if the principal and the agent divorce. So there are many types of power of attorney. A durable POA power of attorney takes effect when the document is signed while a springing power of attorney comes into effect only if and when the principal becomes incapacitated. So you might say I'm going to have a power of attorney for whatever reason set up at this point in time or you might say I'm going to set up in advance a future thing that could happen and if that thing did happen the power of attorney springs into taking effect at that point in time. A power of attorney may also be limited to medical matters enabling the agent to make crucial decisions on behalf of an incapacitated person. A power of attorney for use in case of need might be considered by anyone planning for unexpected incapacitation or long-term care no matter how remote such events appear to be. So these are things we can't basically plan for in the future. We don't know what's going to happen so having one in place might be good because it could spring into effect if a certain future event happened. It could also be needed for someone expecting to be away from home and difficult to reach for some time. Special considerations. There are many good reasons to make a power of attorney as it ensures that someone will look after your financial affairs if you become incapacitated. You should choose a trusted family member, a proven friend or a reputable and honest professional. Remember however that signing a power of attorney that grants broad authority to an agent is very much like signing a blank check. So make sure you choose wisely and understand the laws that applied to the document. So you want to when you're choosing someone obviously you want someone you trust and you want to know the scope of the authority that you're given to that individual because oftentimes it's fairly it could be fairly broad depending on the circumstances of the power of attorney. Types of power of attorney. There are two types of POAs are financial and health care. We outline some of the main differences between these two and highlight some of the main types of financial POAs. Health care power of attorney. HCPOA you might hear it called. The principal can sign a durable power of attorney for health care or health care POA if they want an agent to have the power to make health related decisions. This document also called a health care proxy outlines the principal's consent to give the agent POA privileges in the event of unfortunate medical condition. The POA for health care is legally bound to oversee medical care decisions on behalf of the principal as such. It kicks in when the principal can no longer make health related decisions on their own. Financial power of attorney on the other hand. The financial POA is a document that allows an agent to manage the business and financial affairs of the principal such as signing checks, filing tax returns, mailing and depositing social security checks and managing investment accounts when and if the latter becomes unable to understand or make decisions. The agent must carry out the principal's wishes to the best of their ability. That's what it means to act as an agent of someone else in general at least to the extent of what the agreement spells out as the agent's responsibility. So within the scope of the term of the power of attorney they are acting in the best interest of the principal. A financial POA gives that individual a wide range of power over one's bank account including the ability to make deposits and withdraw, sign checks and make or change beneficiary designations. That's a wide scope of abilities within the financial sector. So again of course you want someone that you can trust. They should be acting in your best interest but clearly there are agency problems because their interest might not line up to what the best interest of the principal would be. Financial POAs can be divided up into several different categories. These are the general POA, limited power POA and durable POA. So we have the general power POA. This POA allows the agent to act on behalf of the principal in any matter as allowed by state laws. The agent under such an agreement may be authorized to handle bank accounts, sign checks, sell property, manage assets and file taxes for the principal. You got the limited POA. A limited power of attorney gives the agent the power to act on behalf of the principal in specific matters or events. So now you're narrowing the scope, the range in which the agent can act. It might explicitly state that the agent is only allowed to manage the principal's retirement accounts for example. This type of POA may be in effect for a specific period. For example, if the principal will be out of the country for two years, the authorization might be effective only for that period. You got the durable power of attorney. DPOA, you might hear it called, the durable POA remains in control of certain legal property or financial matters specifically spelled out in the agreement even after the principal becomes mentally incapacitated. While a durable POA power of attorney can pay medical bills on behalf of the principal, the durable agent cannot make decisions related to the principal's health such as taking the principal off life support. So that's those two decisions are different. You got the financial side and you've got the medical side. So when the agent acts on behalf of the principal by making investment decisions through a broker, the broker would ask to see the DPOA. The conditions for which a durable POA may become active are set up in a document called the quote springing and quote power of attorney. A springing POA defines the kind of event or level of incapacitation that should occur before the DPOA springs into effect. That's going to be the springing component because it's going to be contingent in essence on some future event. So a power of attorney can remain dormant until a negative health occurrence activates activates it to a DPOA. A springing power of attorney should be very carefully worded to avoid any problems in identifying precisely when and if the triggering event has happened. So clearly if you're setting something up that it's going to be contingent upon some event that could happen in the future, you don't want that thing to be vague. You'd like it to be a specific thing that could happen. So people aren't able to know precisely there's not any disagreement is what you would like to have as to when something should be taking effect. So how to set up a power of attorney you can buy or download a POA template. If you do be sure it is for your state as requirements differ. So state laws will differ from state to state.  However, this document may be too important to leave to the chance that you got the correct form and handle it properly. So many states require that the signature of the principal the person who initiates the POA be notarized. You have a third person a notary that's going to verify that some states also require that witnesses signatures be notarized. The following provisos apply generally nationwide and everyone who needs to create a POA should be aware of them. So there are no standard POA form for all 50 states state law and procedures vary. So you might say, is there, you know, one template like a federal template? Well, this isn't federal taxes. It's not basically under federal law. It's going to be handled state by state. Therefore, there will be differences on the state level generally. So all state except some version of the durable power of attorney, a few key powers cannot be delegated. These include the authority to do the following make amend or revoke a will contract a marriage in most cases, although a handful of states allow it. A vote, but the guardian may request a ballot on behalf of the principal. So while the details may differ, the following rules apply coast to coast. Put it in writing. So typically this is a type of document, you know, you can have oral type of agreements, people making oral agreements, but typically this is something that you put in writing. While some regions of the country except oral POA power of attorney grants verbal instruction is not a reliable substitute for getting each of the power of attorneys granted to your agent spelled out word for word on paper. So even if you're able to have an oral contract for a power of attorney, it's not something that you would think would be advisable with this kind of with this kind of thing. Typically you'd want to spell it out exactly what the scope is that you're talking about what's being covered and so on. Written clarity helps to avoid arguments and confusion. And that makes sense when you say it, but actually in practice, people often basically intuit the opposite. Like, well, if we just make things really vague, everybody will be happy. And kind of everybody is happy until something actually happens where a decision needs to be made and no one knows what's going to happen. And then everybody's unhappy. So it kind of kind of delays. There's usually more unhappiness that results in vagueness. It's just that you might delay it a bit than clarifying it early. But in any case, use the proper format. So many variations of POA forms exist. Some POAs are short lived while others are meant to last until death. Decide what powers you wish to grant and prepare a POA specific to that desire. The POA must also satisfy the requirements of your state to find a form that will be accepted by a court of law in the state in which you live. Perform an internet search or ask a local estate planning professional to help you. The best option is to use an attorney. So obviously you can hire an attorney to help you out with that process if you need to as well, although attorneys can be expensive. Identify the parties. The terms for the person granting the POA is the principal. The individual who receives the power of attorney is called either the agent or the attorney. In fact, check whether your state requires that you use specific terminology. Delegate the powers. The POA can be as broad or as limited as the principal wishes. However, each of the powers granted must be clear even if the principal grants the agent a general POA. In other words, the principal cannot grant sweeping authorities such as, quote, I delegate all things having to do with my life end quote. Make sure that when you're thinking about the broadness, the scope of the power of attorney that you consider what that scope should be and make it specific. Specify durability. And most states POA terminates if the principal is incapacitated. If this happens, the only way an agent can keep their powers is if it was written with an indication that it is durable, a designation that makes it last for the principal's lifetime unless the principal revokes it. So if you have a power of attorney in place and it's there for you're supposed to be making decisions over it, the idea is that well, you can revoke it at some point in time. Someone is acting as your agent. You can decide for them not to act as your agent in the future. But if you become incapacitated, unable to revoke it, then if you would think then legally it should it should just be not in effect at that point in time because you don't have the power to revoke it. Unless you set up the power of attorney specifically to be there in the event that you become incapacitated, for example. So notarize the POA power of attorney. Many states require powers of attorney to be notarized. Even in states that don't, it is potentially easier for the agent if a notary's seal and signature are on the document. You want to make sure that you can of course verify the document to make it as easy as possible. A notary might be required and even if not might be a good practice. Record it. Not all powers of attorneys must be recorded formally by the county to be legal. But recording is standard practice for many estate planners and individuals who want to create a record that the document exists. File it. Some states require specific kinds of POAs to be filed with a court or government office before they can be made valid. For instance, Ohio requires that any POA used to grant grandparents guardianship over a child must be filed with the juvenile court. So it also requires a POA that transfers real estate to be recorded by the county in which the property is located. Choosing a power of attorney like the property deed for your house or car, a POA grants immense ownership authority and responsibility as a matter of life and death in the case of a medical POA. And you could find yourself facing financial privation or bankruptcy if you end up with a mishandled or abused durable POA. Therefore, you should choose your agent with the greatest care to ensure your wishes are carried out to the greatest extent possible. It is critical to name a person who is both trustworthy and capable to serve as your agent. This person will act with the same legal authority you would have, so any mistakes made by your agent may be difficult to correct. Even worse, depending on the extent of the powers you grant, there may be a danger of self-dealing. So an agent may have access to your bank account, the power to make gifts and transfer your funds, and the ability to sell your property. So obviously they should be acting on your behalf as the agent, but they have, I mean, your desires or acting on your behalf may not line up exactly with their desires and so on. That's an agency kind of problem. So you want to have a trustworthy person involved there that can overcome the agency problem and try to be acting on your behalf. So your agent can be any competent adult, including a professional, such as an attorney, accountant or banker, but your agent may also be a family member such as a spouse, adult child or another relative. Naming a family member as your agent saves the fees a professional would charge and may also keep confidential information about your finances and other private matters quote in the family end quote. In the family, that's the worst place. That's the most dangerous location. In any case, naming children as power of attorney, parents who create POAs very commonly choose adult children to serve as their agents compared to naming one spouse as the agent. The relative youth of the child is an advantage when the purpose of the POA is to relieve an aging parent of the burden of managing the details of financial investment affairs or provide management for an aging parent affairs should the parent become incapacitated. So obviously when you're thinking about a power of attorney as kind of like your estate planning, it's beneficial to be choosing someone who is not basically your age because although you might die at different times, you still have that same kind of kind of problem. So having a younger person that hopefully can take on those responsibilities and have the capacity to do so and be more likely to when needed could be good. So in these cases of spouse named as the agent who is near the same age as the person creating the POA may come to suffer the same debilities that led the POAs creator to establish it defeating its purpose. When the child is honest, capable and respects the parent's desires, this can be the best choice for a POA. When there is more than one child, parents may struggle with the decisions of who to select for the role of the agent. This is not a decision to be taken lightly. So again, this is one of those things where you can try to push it off into the future, but you probably want to be more specific about it upfront and try to define things out even though it can cause some hassle and so on. But the agent named under the POA acts with your authority so costly financial mistakes resulting from carelessness or lack of financial understanding may be impossible to fix. The same is true of acts that create intra-family conflict by favoring some members over others. So clearly when you have a situation like an estate or something like that, you've got assets that are being distributed, someone's going to feel like they're not treated fairly and this and that. All you can do is try to make it as specific as possible based on what you think would be the best way to go and typically you'd probably want to be picking someone if you had someone that you could trust to do that to then allocate in accordance with your wishes as fairly as you think you can do. Worst of all, when delivered into the wrong hands, a POA may create what is often called a license to steal. There are instances when the agent abuses their power and makes decisions about financial and medical matters for their own benefit rather than staying in line with the wishes of the principal. So once you're acting as your agent doesn't mean that their desires of course may not line up with your desires and that can cause problems. Children have different characters, skills and circumstances and the powers given to them can avert these dangers. So the good news is that you can have multiple POAs naming separate agents and customize them for each child's skill set, temperament and ability to act on your behalf. Factors to consider, consider these three key factors when choosing which child you want to give important powers to under a POA. Trustworthiness probably one of the biggest most important thing you would think. This is the single most important trait for an agent named under a POA. So obviously they're going to have a lot of controls possibly if you're talking about financial kind of assets under their control. And so clearly you need someone trustworthy especially if you're going to have them allocating to other individuals. This includes not just honesty but also reliability and performing tasks that need regular attention from managing an investment portfolio to paying bills and diligence in acting according to your wishes. So clearly if they have to manage the bills and that kind of stuff they have to have the competence to be able to do that. Be able to be trustworthy to do that and try to act on your behalf would be the ideal. So abilities of each child, specific abilities of different children may make them best suited to take on particular rules in managing your financial affairs. You can use limited POAs to give different children defined and limited powers over different aspects of your finances. These may include the following, managing everyday expenses of the family, receiving income from and paying expenses on real estate, controlling a financial portfolio, managing insurance and annuities, running a family's small business. So clearly the more of kind of assets that you have that you are managing at the point of death then the more you have to do with your estate planning. And so you might try to segregate things up in that way depending on your particular circumstance. Multiple agents, more than one agent can be named by a POA either with the authority to act separately or required to act jointly. So you could say, you know, I want, you know, these people to have the capacity to have multiple agents, multiple agents acting, you know, separately, making their own decisions kind of like a partnership, but each partner has the power to make decisions or you might try to set up a situation where they have to have an agreement. So you have a committee kind of situation where they have to come together and agree to move forward, which could create gridlock, but you know, there's pros and cons of each of these kind of things. Having two children separately authorized to manage routine items can be a convenience if one becomes unavailable for some reason while requiring two to agree on major actions like selling a house can assure family agreement over major decisions. So you might try to try to purse things up and say, well, the day to day management, which shouldn't have a huge impact, you would think you can have, you might try to say, I would like both of those people to have the capacity to act in that regard and maybe on big decisions if it were possible to somehow outline such as a home sale or something like that, that they have to have an agreement to make those types of decisions possibly some route like that might be useful. Naming multiple agents can cause problems if disputes arise between them. For instance, if two children are required to act jointly in managing an investment account, but disagree over how to do so, it may be effectively frozen. So again, this is the kind of if you have multiple children, especially if the multiple children are in different states or something like that, if you require all of them to agree on every decision going forward, especially if these people don't often agree on things, then you might end up in a situation of gridlock. And then it might be better in that kind of situation to try to name somebody that if you have a particular person that you trust that can then facilitate the distribution of the assets in accordance of your best wishes. Obviously, you're never going to make everyone happy. So you got to basically try to try to weigh the pros and cons of those two outcomes. So when choosing two children to act jointly as agents under a POA, be sure they have not only the skills, but the task for the task, but personalities to cooperate. So again, you've got to think, okay, if I have two or more people that are kind of managing the same thing, and they both have to agree on what's going to happen. Is that going to be beneficial overall? Or is that going to be more problematic overall and moving forward? So risk of naming children as power of attorney, mistakes, and worse, acts of self-dealing committed by your agent can be extremely costly. This is especially so with a durable POA that gives broad control over your affairs during a time when you are incapacitated. You must be convinced that the agent will follow your instructions, can do so, and will pursue your wishes even over the objections of other family members. So it can be difficult, especially if you're talking like a death kind of situation. Family members might want to come in and say that I would like to get distributions of this and that before you take care of the liabilities. And typically at that point in time, again, what you generally want to do is try to liquidate kind of like you were doing with a business. You want to pay off the liabilities. You might have to liquidate some assets to do that. And distribute all of the assets in accordance to the wishes of the person who is deceased or the person or the principal. And that might not be something that all the people involved agree with. So it could be a difficult situation. Never name a child to be your agent as a matter of fairness to avoid hurt feelings or preserve family harmony. And again, this is probably a common kind of theme where people say they just take the easy route most likely and say, well, I'll just have everybody has to agree on every agreement, even though nobody agrees on anything. We already know that and they're all and everybody's in different places of the country. That's probably not the best way to go because clearly you're going to end up with a long term kind of gridlock situation. It might be easier to say, hey, look, it's not going to people aren't going to be happy, but I'm going to name somebody who I think is capable of carrying out my wishes. And I'm going to try to lay out my wishes in a way that is fair. And hopefully they can do that in a most transparent way that might cause less actual havoc, even though it might not be the most agreement that the people and no one's going to be happy of all the things right. So this is especially true if you lack trust. The powers are far too important to be granted to other than on the merits of trustworthiness and ability. So beware of naming a child as your agent if so you experience difficulty, awkwardness or resistance when explaining to the child the duties to be taken on as your agent under the POA. The child may not be available to perform the duties or not be reliable in doing so due to their concerns or distractions. The child has a history of problems with gambling or substance abuse. The child has serious debts or has been irresponsible in managing their affairs. The child is engaged in intra family conflicts that may result in using the powers received under the POA to favor some family members or others. So if there's kind of disputes and you got to take all that into consideration, say, what are you going to do? What's the best thing? General risk and naming a power of attorney. Be aware of the dangers of theft and self dealing created by a POA even when your agent is your child. So you would think it's a family member. They're not going to be pure as a driven snow. Okay, maybe not. To minimize the risk of such wrongdoing, in addition to the steps mentioned above, have your POA require your agent to report all actions periodically to an outside party such as the family's accountant or attorney. In other words, trust but verify. A capable attorney can draft your POA to include these safeguards under your state's laws. As family circumstances change, periodically review and update the POAs you have created. You can revoke a POA simply by writing a letter that indicates it and states that you revoke it and delivering the letter to your former agent. So just like the document itself, some states require such a letter to be notarized. It's a good idea to also send copies to third parties with whom the agent may have acted on your behalf. Then create a new POA and deliver it to your to your new choice of agent. A power of attorney can provide you with both convenience and protection by giving a trusted individual the legal authority to act on your behalf and in your interests. Adult children who are both fully trustworthy and capable of accomplishing your wishes may make the best agent under your POA, but don't name a person the agent simply because they are your child. Be sure your agent is trustworthy and capable as a first requirement, whoever you name. Getting your parents to create a power of attorney. There may be a time when you may become incapacitated and can't manage your own affairs. If you don't have a POA in place that enables a named agent to step in and do so, nobody may have the legal right to do so. For instance, nobody may have the right to take individual retirement account, IRA distributions, the parent needs for income to borrow funds to pay medical bills or deal with the Internal Revenue Service IRS concerning parents' taxes. It then will be necessary to go to court to seek to be named as a conservator or guardian for the parent, a course that may prove costly and slow. And it could be contested leading to family conflicts. You may choose to name one or more of your children as POAs. There are many different kinds of POAs and you can have more than one. While a general POA enables the agent to act with the authority of the POAs creator in all matters, a special POA can limit that authority to a specific subject such as managing an individual's account or to a limited period such as while the creator of the POA is traveling abroad. Here are some things to consider. Start small. A special POA can be used only to provide a convenience that you will value as a parent such as one that enables your children to prepare and file your tax return and manage your dealings with the IRS. Safeguards. If you're concerned about how your affairs will be handled, make sure the POA requires that the agent periodically report all actions taken to a trusted third party whom family members agree upon such as the family's lawyer or accountant. Or you can name two agents and require they agree on major transactions such as the sale of a home. Consult trusted advisors. Trusted professional advisors such as lawyers, accountants and doctors can help you understand the wisdom and necessity of adopting POAs.  So if you aren't comfortable granting broad powers at once, you can do so gradually, but don't delay or they may be costly consequences since the grantor must be mentally competent to create a power of attorney. If you lose the capability of managing your affairs, it's too late. At that point, court proceedings may be required. What does having a power of attorney do? A power of attorney is a legal status granted to somebody that allows them to act on your behalf. The person given POA may have either broad or narrow legal authority depending on how it is spelled out in the POA document to make legal decisions about one's property, finances or medical directives. Can somebody with a POA power of attorney do anything they please? No. The scope of legal authority granted by a POA is laid out when it is established. Furthermore, the person that is granted power of attorney has a legal fiduciary duty to make decisions that are in the best interest of the person for whom they are representing. Can next of kin override a power of attorney? No. Next of kin or other family members do not have any legal authority to override or nullify an existing POA power of attorney. How can I revoke a power of attorney I have given to somebody? A power of attorney can be terminated if you expressly revoke it. It may also have a set termination date or duration of time for which it is enforced.  If you die, all powers of attorney are cease. Once again, if you die, all powers of attorneys cease. So who can I name to have power of attorney? You can technically name anybody to have power of attorney POA so long as it is done under your free will and you are mentally competent. So it should be somebody trustworthy and capable such as a spouse, close family member or friend. You may also designate your lawyer to have POA. You can in theory name more than one individual to have POA but this is not recommended as it can create conflicts and confusion. What's the bottom line? Creating a power of attorney and specifying how it will operate even if you lose your ability to think or function ensures that you will have a plan in place for overseeing your financial affairs and health directives if and when you are unable to do so. Be sure to choose somebody you trust and who will be able to faithfully carry out their responsibilities on your behalf.


Welcome back to the breakfast and plus severe Africa is time for us to check out the pages of a national dailies We have G.D. Johnson joining the conversation. Good morning G.D. Johnson and thanks for joining us this morning Let's start off with the leadership newspaper this morning We'll be checking out the top stories and the leadership newspaper the banner caption says Drawing the boundaries defense headquarters once politicians against using of military uniforms for campaigns That's what you find on the boat caption now We have several riders. Let's see if we can take you through all of them says troops killed 1,910 terrorists in 2021 U.S. Embassy confirms approval for use of super super tucano jets in northeast and bandit release 28 adducted villages in Niger Joining APC offers no immunity from corruption trial. That's what the president has quoted to say Dantatar advocates Return to parliamentary system of government You also find why we want osiba jaw for president That's what the group is quoted to say and the protests opposed reopening of doing college gunmen bomb emo police station and free detainees So you constantly have this issue of a prison break just dominating The entire polity. That's the much we can take on the Leadership newspaper this morning to the Nigerian Tribune this morning big story Autumn to Buhari Declare me a t. Allah as a terrorist organization. Okay rejection of state police You are working against interests and will of Nigerians Mbf tells Buhari Buhari's excuse for opposing state police holds no water says at the banjo And also Nigerians will reject Buhari's preferred candidate And that's from the pdp also on the tribune So Vesta or Romani coroner to commence inquest into cause of death on the 15th of january It joe youths protest voucher disrupt academic activities if school reopens And we can also find here 2023 presidency fire me alleges plot within the apc to smear his reputation National assembly workers begin strike on monday over unpaid eight months minimum wage And federal government explains 6.39 trillion dollar deficit in 2022 budget Age is telling on me says president Muhammad Buhari Gunman attack police division free detainees in emo And also troops intercept illicit drugs worth 6.5 million nara in kaduna kill suspect 300 level unidirectional student murdered inside hostel Uh inside host hotel room. I beg your pardon body mutilated eyes missing Those are the big stories that we can share on the tribune All right, let's move away from the Nigerian tribune and check out the punch newspaper this morning super tucano deployment NAF plans bandits bombardment a laes fears over civilian casualties us ones federal government As a board caption you find there military to target for us bandits camps not civilian areas Usage must conform with international norms. Do united states tells federal government? That's it on that particular issue away from that now and you also have federal government spent 1.68 billion nair I beg your pardon 1.68 billion dollars on food importation in nine months. This is according to the central bank of niger PDP will take over if apc leaders fail on convention.  Let's see if we can take one or two Just before we move away now And another header says legos community decries. Okay. I took that already apc stakeholders demand progressive governors digits sacking threatens protest and Responses to my presidential beat overwhelming and encouraging. I am is quoted on that That's the much that we can take this morning But I also find this or the one block bath in zamphara communities as bandits killed 200 and scores missing 200 200 and this is at the point where we're talking about Of course 200. Is it 200,000? All right on the daily independence just shocking Opposition can take over in 2023. Buhari wants apc acts a party to put house in order says old age Telling on him Corrupt persons won't go scot-free by joining apc And convention fresh crisis in apc stakeholders threatened nationwide protest Uh five indigenous companies just sold for three billion dollars shells onshore oil fields autumn acts Buhari to declare matiala as terrorist and 2023 southeast bdp leaders and dos iam's presidential bid We can also find here 2023 presidency entrenched interest in apc plotting to pull me down says fire me And uh, Buhari pledges intervention in mali crisis because it's time. We're going to quickly just Bring in jiddy johnson to get his thoughts in on these stories. Uh jiddy johnson.  All right I want to see if we can take as many of because there's so many of them that that sound really really Interesting. So I want us to if we can do every story in two minutes max Let's start with the you know protest by It joe youths, you know that you know if the school the door in college reopens that there will be a protest And of course the coroner to commence in question to the cause of his death on 15th of january The one of the challenges we have is that um, sometimes we Really we report he used from that mentor point Without waiting for the necessary agents of government to the need for them a lot of commentators a lot of public affairs analyzer country with respect to what Going to end college and sometimes we must respect the institutions of of states and we cannot afford to take Into Hands to think that okay, if there is no go my way. I don't have to All the time we don't always to believe in the conspiracy theory and to restore it And I think the media has a lot to claim this we should allow state Agents is to do that job before what it keeps taking laws into their own hand when when when reports or Reports comes out and it does not go in the direction with which they think it should go Then we have chaos in this site Maybe because of a deficit, you know between the people and government government agencies mta's and the likes It has even taken an ethnic coloration Can't see the Straight into Anything that affects every Nigerian. We are all Nigerians. Tell us of whichever area of Nigeria that would come from And that's why we are back. Okay. That should take away the easier This is an ethnicity and state of origin out of our national identity as far as I'm concerned Let's wait for all state institutions to come to their conclusion And once we come to the conclusion, whatever the outcome which all I said But there is one thing we must also understand that there's an ultimate judge that sees better than what we can see We can't afford to bring another chaos as a result of The outcome of a report an interim report that we have received and we come to conclusion We can act on an independent panel to look into it if you are not satisfied with the process And there are there are means and measures which you could explore to the equal means to to seek interest if you are not satisfied With the process. I don't think taking laws into us and we solve the problem All right, gd johnson, let's share your thoughts on the super to cano deployment where the nff will just be embarking on that mission to bombard Bandits and the fact that yes, the united states is saying that he has to you know work. He has to be done in line with international best practice and They're also showing that there will be no civilian casualties So the muslim muslim come out in the public domain And and say that we are starting to eat in nigerian air force is starting the compartment of bandits We are fighting guerrilla warfare and then so that the bandits will leave the forest And they will not be able to to pin them down to where they are They are basic protocol that guides the deployment of Of of fighter jets where you are Where you have civilians and If you want to follow that protocol and you reduce the level of civilian casualty Then you are in order but I I am thinking about that want to strike with that engage in guerrilla war famous state actors That do not have fixed location and then we go on here and now that we are going to start So we are telling them you are wanting them ahead of time that they should leave I I wonder the way we run our our security Architecture in this in this particular part of the world. I was thinking about when I read this theory I was just laughing that these people wonderful. It's it's it's wonderful You see when you make use of ear strike ear strike is to Give a surprise attack on the enemy you pin down the enemy to strike them There's a particular thing that you strike the iron when it's off. You know what they are putting them Now they are Even the bandits start to move away from whatever location they found themselves So as far as I'm concerned, it's it's I was irritated by by my journey first coming into the public domain And telling us their intention when this should be done to surveillance and this should be done any intelligence intelligence garden and then a surprise attack Well, but there's no specific day to you know, maybe the bandits don't read the punch on you see Exactly But you know, I mean that might just be on a lighter note But I'm just saying that I understand where you're coming from But I mean no specific date. However, maybe you might have happened, you know 2023 or there about a few months two weeks We all witness The americans We all witnessed how on that Trump and To the money and And We all we all saw when December 2020 when americans sent their agents to come arrest you Special agent in morocco From morocco to flag to not an idea. Not an idea. They'll say give me a break. Give me a break. These people are just I don't know. I don't know. I don't know. I don't know whether they're fighting with the killing of The al-qaeda leader back then But but daddy In syria in syria iran koda. So we This was a break Are fighting guerrilla warfare Yeah, they are fighting guerrilla warfare. Do not have fixed location. So you pin them down. You strike them You mobilize them and then you allow the ground forces to To it's a coordinated attempt. You don't announce this on the on the on the pages I saw a particular story whereby the I saw something online In ijan army released the footage of some of To journalists footage of some of equipment which they have which have resuscitated and which are going to use to fight You don't fight war like that. You don't fight war He wants journalists to have access to what you want to do. What you do is that you have some of them embedded in your team And I shall carry out your onslaught after you are through with your onslaught They receive they release the footage the footage of what you have done not before you go and attack them And then you send okay. These are the The equipment that the army has resuscitated. These are what they are going to use to fight bandit Oh, give me a break. You don't fight a war like that Judy Johnson But once again, let's hope that the Bandits don't read the punch news with us Let's move to the tribune Declare Meti Allah as terrorist organization Of course, I'm coming. I'm sure this is coming on the heels of you know, the bandits being declared a terror terrorist and of course his statements on state police At the banjo says Bwari's excuse for opposing state police Holds no water. But let's let's start with, you know, the governor benoistates. I'm a lot of times asking that Meti Allah will declare the terrorist organization Well, uh, you discover that them there has been a Yes In terms of farmers and that's class towards the last Towards the last seven or eight months of last year What crisis we used to have towards the elections? We don't seem to have that I think that he has been has been addressed to a certain extent that does not foreclose Are we still have sub skirmishes here and there? However, if you look at the state of things now And what it used to be I want to disagree with I want to disagree with governor of the governor benoistate If we had wanted to do that you talk about this in 2020 2019 I will agree with him Because we we are the incessant Farmers edas clashes and We have been all over across the country But what we have been dealing with the last one year in the last 18 months has been by the end of the farmers edas clashes We have been dealing with mandatory command rest of it. So I decided with the governor with the governor of them The governor benoistate calling for Um declaration of me a jala as as as terrorist is on current situation Not using the past now I'm coming to what pa. I had the ban just said concerning why prior not means he said with state policing Is it every time we every time we reduce The governor and public policy to one individual We fall short of what is called reductionism now Why is the president why is not the federal assembly members? We have senators you have got lost All right, we seem to uh be losing Feet from jiddy johnson there I mean, but you know, it's it's mostly in reaction to and it's not the only one who's going to speaking about this I already ban Joe. Um a couple other people have you know reacted to the president's statements with regards State police, you know, some of them have also pointed out You know the fact that he didn't actually able to answer the question on state police You know, he went straight to talking about traditional rulers and some of all of that But he also liked him that too, you know the relationship, you know between the local government and the state governor saying that if That's the situation then, you know, he kind of thinks I mean with that illustration I think he's of the school of thoughts that, you know, state governors would Definitely be controlling the state police architecture for their, you know, own benefits Or like um, I guess yesterday I said that's fear mongering These things don't necessarily have to play out that way And what's wrong with the state governor being the chief security officer of the state In practice, I think people really are projecting what they are Because if a state governor's chief security officer of the state, he should be in control of the police What exactly are the fears that he used to bully people? Exactly. Hello I mean these things are happening already So what's new about a state governor, you know, who decides to bully people? There's also another argument, you know, to all of that now now some persons are saying that You know how states are still grappling to pay salaries and all of that in terms of revenue generation It might also be a problem When you have states controlling their own security architecture And so you have the state policing would they have the capacity would they have enough to generate Because at the end of the day, you now begin to say funding would now be Exclusive to the state governors and so they'd have to pay the police Would they have what it takes to For me, these still sound sound like excuses excuse excuse if you're serious If we're serious about having to restructure on certain levels with regards Where Nigeria is going to and you know, I'm putting Nigeria in with a structure that actually works There's people who have even mentioned that their seven states that should not even exist Because they are not, you know, viable. They can't feed themselves. They can't fund themselves And so creating those states in the first place was a problem But maybe it would then put make people sit up and make them realize that you cannot just be a state governor You know to sit down in that seat for eight years You need to actually figure out ways that you can develop your state's economy and develop International revenue for your state and feed your state and fund your state you need to You need to think and and it's the reason we have these 70 year olds running for office You know to be state governor and doing absolutely nothing in eight years when I say nothing Absolutely nothing for eight years Those things will maybe stop. Um, the argument against the police cannot simply be Or governors who have control of them to use them to bully people But that's the argument But it makes absolutely no sense It makes absolutely no sense because if a governor wants to bully anybody he can still do it currently And there's nothing really holding the governor back from doing whatever he chooses to do With the security architecture that is at his disposal currently So that's not even an idea. Once again, the guest yesterday, I think, um, As you can hear talk said it is simply just fear mongering and that is not in any way if you're going to move forward A reasonable excuse that a person should give us why you cannot have state police because currently the federal is doing the same thing So I'm saying that uh, maybe we need to come to a point where we need to understand that whether or not You have the federal police. I mean you have the state police There would always be you know advantage and disadvantage of everything that we do And so if we have this if we think about this particular, you know Pattern then it would also propel us to take in the action like he I mean I would definitely want to agree with you know Isika and I took with the fact that it's just fear and so what if that doesn't happen because there's a lot that we can Actually achieve and if we eventually, you know tilt towards having state police It would definitely mean that there will also be need for us to begin to have states controlling their resources So you are able to you know to begin to pay salaries and then we're talking about federalism in its true sense And usually I would say that no pattern of government is better than any other It just you know looking at it Yes, it's what works for you and who are the players who are the persons calling the short at this point in time So that's what we're about I'm hoping that in 2022 or maybe 2023 because I mean we're just waiting that we have a transition of government from You know the current leaders the president the governors amongst orders Then we just have a transition to Uh, you know different set of persons who will make things differently But we have GD Johnson back on the line and just before you know, we call it a wrap on the segment I'd like that you share your thoughts on the leadership as well. There's this one that says that um gunmen Bomb emo police station free detainees So there seem to be a pattern of bombing of police stations and you know jailbreak or prisonbreak if you like To call it. What are your thoughts on this? Yeah Of the two security that are given And as the movement forward the therefore The democratic government That is the wheel of the people and not the wheel of the cause In in removing power because if you are characterized in this It is Do that GD Johnson, I I also want to we probably should wrap up with this and that is The story on the Tribune this morning and I think it made um the daily pendant also it says age Telling on me and that's from the president It says walk in eight hours a day in the office is no joke I don't expect Nigerians to appreciate me after office. He adds and a couple other things. GD Johnson Well The president he said that He told me he'd think that there will not be more than one time However He went ahead to do something It is evidently clear All the vacation is I If you think that as a contribution in the moon, we are going to unless As president in 2023 and we have seen people started writing them That When Okay GD Johnson, I think mostly wants to Well, I'm for the ones of time. We'll probably just have to you know, move away from this Yeah, more interesting headlines here, but we look forward to having this conversation with you on Friday in last week Thank you so much for being part of that conversation Thank you Have a great weekend. Thank you once again GD Johnson A short break who'd next be sharing with you what happened on this day in history many many years ago And then right after that our first major conversation kicks off here on the breakfast So we're talking about the naming of bandits as terrorists and what the significance of that really is Stay with us. We'll be back


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So in this video we're going to look at finding minimal sufficient statistics, and in particular we're going to look at finding the minimal sufficient statistics for mu and lambda of an inverse Gaussian distribution. So recall that the easiest way to find a minimal sufficient statistic is to find a ratio f of xn over f of yn, and these are both the likelihoods, so you have n observations and you treat them as x i's and y, and n observations yi, and you want this to be constant with respect to your parameters of interest. So we say we break this up into two parts, so we have lambda over 2 pi to the power of a half, it's the product from i equals 1 up to n, and well, x to the power of minus 3 over 2, so first of all we'll treat it as a single entire product, and then we'll simplify it out x i minus mu to be squared over 2 mu squared x i, and we do the same with y in terms of y instead of in terms of x in the denominator, so we get lambda over 2 pi to the power of a half yi, that was an x i, to the minus 3 over 2, and the exponential of minus lambda, that's a lambda there, yi minus mu to be squared over 2 mu squared yi. So the first thing we can see, oh and if we close these brackets, the first thing we can see is that these two will cancel immediately, the same in the numerator and the denominator, so you may as well make our life simple, and we say so we have the product i equals 1 to n of x i to the minus 3 over 2 divided by the product i equals 1 to n yi to the minus 3 over 2, that's the first part of it dealt with, and then if I move a product inside an exponential, I get the exponential of the sum, so minus, and I'll take out my common factors to lambda over 2 mu squared, it's the sum for i equals 1 to n of x i squared minus 2 mu x i plus mu squared, and these are all over x i, and we then get the denominator, that's the equivalent in terms of y i, the exponential of minus lambda over 2 mu squared, the sum i equals 1 up to n yi squared minus 2 mu yi plus mu squared all over yi, and close that, again we can simplify it even further, so we get the product i equals 1 up to n of yi over x i, and these are to the, these are to the power of 3 over 2, and then I can bring like terms together, this is going to be come up minus times minus is a plus, so we have the exponential of, and we'll leave the lambda over 2 to outside, so lambda over 2, and we bring, we look at the sum for i equals 1 up to n, and we have a yi squared, so it's going to be, we'll leave the mu squared here for the moment, and we have y i squared divided by y, well that is y i minus 2 mu, and you have y i divided by y i, so that's, they can't see each other out, and plus mu squared over y i, and you do the same with the numerator except for remember all these are going to have reverse sign, so it's going to be the minus x i minus, or plus 2 mu minus mu squared over x i, and then again we simplify this with the product from i equals 1 up to n of y i divided by x i to the power of 3 over 2, and the exponential, and we have lambda over 2 mu squared, and we notice that the minus u and the plus, minus 2 mu plus 2 mu cancel each other out, so you have the sum of i equals 1 up to n of y i minus x i, and then oh look we look in terms of two mu squares on the numerator and the denominator, so we say plus lambda over 2, the mu squared here is going to cancel with here, so lambda over mu, and we have the sum i equals 1 to n, and then we get minus 1 over y i minus 1 over x i, and immediately you can see that this is constant with respect to mu when x i is equal, the sum of x i is equal to y i, so your t of mu, so your your minimal sufficient statistic, so minimal sufficient statistic from mu is when is this constant with respect to mu, the only time mu appears is actually as mu squared, so that's here, so it is where happens when the sum of i equal 1 up to n of x i is equal to the sum of i equal 1 up to n of y i, so t of mu equals the sum of x i, commonly you would treat that as the mean, it's essentially equivalent, the minimal sufficient statistic for lambda, well then you need this term to be zero and this term to be zero for this entire term to be constant with respect to lambda, so you have, you would require it happens when you get the sum of i equals 1 to n of x i equals the sum i equals 1 to n of y i, and that's quite important, the sum i equals 1 to n of x i inverse is equal to the sum i equals 1 to n of y i inverse, so your minimal sufficient statistic for lambda is the sum of x i i equals 1 to n and the sum of x i inverse i equals 1 to n, and they're your minimal sufficient statistics for the parameters of an inverse Gaussian, otherwise known as an inverse normal distribution.


Another man said that we're supposed to have a hard freeze tonight, so I picked the remainder of my turnip greens and my lettuce and spinach. Over here is my lettuce and spinach. Here are the turnip greens. These turnips should be a giveaway for that. Greetings friends! In a previous video, I demonstrated canning using a hot water bath. A hot water bath is suitable when you are canning high acid foods. This would include fruits, tomatoes, sauerkraut, and rhubarb. Most foods, however, are not high acid and require canning in a pressure canner. This would include any meat, fish, poultry, wild game. It would also include most vegetables, soups, and stews. A pressure canner allows a temperature to rise higher than a water bath canner. The temperature does not depend on how high you turn the heat. The temperature depends on the pressure in the container. There are different types of canners and each come with an instruction book. It is very important that you read the instruction book and that you follow the procedures in your book rather than the procedures that I'm giving you here. The procedures I'm giving you here are just general procedures and you may need to modify these. The amount of time and the pressure that you will use depends on the type of food that you're canning. It also depends on the size of the container. Every jar does not have to be processed as long as a quart jar. Quarts have to be processed longer. Also some pressure cookers have a constant steady pressure, like 15 pounds is typical, or some pressure cookers have a pressure relief valve and a dial. This particular one has a variable regulator. You take a look at my regulator, it's marked 5, 10, and 15. This is for 5 pounds of pressure. You use this one. You use this one for 10 pounds of pressure and you use this one for 15 pounds of pressure. According to most of the recipes that are in my canning book, they require 10 pounds of pressure. I'll be using this one right here. What that means is that you put the 10 mark on the pressure relief valve. The canning procedure, including the amount of time that you process it and the pressure depends on the recipe that you're using, which depends on the type of food that you're canning. You will therefore need a good canning recipe book. The one that I use is Ball Blue Book, Guide to Home Canning, Freezing, and Dehydration. You just look up what you're canning, hear peppers, potatoes, jams, turnips. I'm going to be canning turnips and greens. You follow the recipe that is in your book. According to my book, I'm going to be using 10 pounds of pressure. I'm going to be canning in pint jars so I will process pints for one hour and 10 minutes. If I was using quart jars, I would process them at one hour and 30 minutes at 10 pounds of pressure. That's the reason it's important to have a good recipe book. As I mentioned, I'm going to be using pint-sized jars. My pressure canner will hold eight pint-sized jars. I'm using the wide-mouth jars so I will need the wide-mouth lids and of course the wide-mouth bands. My canner will hold eight pints but I'm not sure I have enough spinach for eight pints but I'm going to go ahead and prepare for eight pints and that way I will be ready and I will have extra jars prepared rather than end up with too few jars. What you want to do first of course is you want to wash your jars and then you want to put your jars in boiling water to sterilize them. Your canner will come with a trivet that fits in the bottom. You put this in the canner then you put several inches of water. You do not have to put enough water to cover your cans. Just have the water about about to here about halfway up. You just want to make sure you have enough water so that the water does not boil out. You're actually canning using steam rather than boiling water so the level of the water is not critical. I'm going to start by sterilizing my jars. I'm going to boil the jars in this container here and it takes a while for the water to get hot so I'm going to go ahead and start this while I'm preparing the food. Now if you'll notice I don't have the jars completely covered with water. That's okay. They don't have to be covered with water because the steam will sterilize the jar. Steam is actually hotter than boiling water so as long as I have the top on this they will sterilize even when they're not in the water. You don't have to worry about the bands. Bands don't contact the inside of the jar. The lids have to be sterilized. You don't really want to boil the lids because that could damage this rubber seal here but you do just want to clean them in hot water so what I do is once my water gets boiling in here I'll just put the lids in a separate container just pour hot water from here onto the lids and leave them in the hot water until I get ready to use them. So we'll go ahead and turn on the heat and start heating our jars and now I'll start preparing the food. Okay first I want to cut off the turnips in the thick part of the stems. We don't want these. This goes in the compost. Then you rinse your greens in at least three changes of water. Over here I have my turnips which I've scrubbed with a potato cleaning brush and normally people can their turnip greens and their turnips as two separate events and because I like to eat my turnips with my turnip greens I'm going to try something new and I'm going to can my turnips with my turnip greens.  I'm just going to cook them down to where they wilt so that I can put them in the jars without them shrinking too much in the jar so I can pack the jars properly and I'm going to cook the turnips for just three minutes. I have just a couple of inches of water in here and just a couple of inches of water in here and I'm just going to cook them for about three minutes. Now these will cook fully in the jars because they are going to cook under pressure for about over an hour so these will be well cooked in the canning process but we just want to cook these down so that they will pack nicely in the jar and we just want to start the cooking process so that the foods are hot when we put them in the hot jars. Okay the turnip greens are cooking down nicely. I'll take a knife now and cut through them a few times so that they'll pack in the jars nicely. Okay into the hot jar goes some turnip greens, a few pieces of turnips, one half teaspoon of salt, and boiling water until you have one inch headspace. Then goes the lid, the band, you just tighten the band until you feel resistance leaving it a little loose just tighten until you feel resistance not too tight. Then into the pressure cooker.


So in Bob's reference frame, Alice is moving forwards at speed v when she emits those photons. So our Newtonian intuition tells us that in that case, the forward-facing photon would be emitted at speed c plus v, and the backward-facing one at c minus v. So in this case, let's calculate t1. Alice and friend 1 are initially separated by a distance lv over 2. And the photon and friend 1 are approaching each other at a speed c minus v plus v. And from this, we get a result similar to what we get in Alice's frame. However, this reasoning is not correct. Pause the video now and see if you can guess why. Okay, so the second postulate of relativity tells us that the speed of light is the same in all inertial reference frames. So even though Alice is moving at speed v, Bob measures the photons at traveling at c, the speed of light. So in this case, to calculate t1, Alice and the friend are initially separated by a distance lb over 2, and the light and the friend approach each other at a speed c plus v. For t2, they approach each other at a speed c minus v, because the friend is moving away from the light. In particular, while the two dunkings were simultaneous in Alice's frame, they're no longer simultaneous in Bob's frame.