Should you consider using a financial planning attorney. Often, a simple meeting with an attorney can make all the difference in the world when it comes to an orderly asset transfer. Here’s a story to illustrate why a couple in Indiana decided to take the do-it-yourself approach to financial planning. The husband died unexpectedly, and [...]
Naming a beneficiary on an annuity can help lower probate expenses Annuities are contracts between an individual and an insurance company. Annuity contracts allow for the owner of the annuity to name a beneficiary so in the event of the death of the annuitant. Because this is a contract, the beneficiary will normally receive the [...]
According to a recent Harris Survey, people who take a lump sum from their employer-sponsored retirement plan are depleting those funds fast. In fact, 1 in 5 retirees has depleted it completely. After lump sum withdrawal, according to Harris Poll: 62% had money leftover 21% had completely depleted their funds 17% didn't know how much [...]
Make Sure You Understand the True Costs No one wants to think or talk about divorce, but the reality is, it does happen. Many people who plan to get divorced hold the misconception that they will be able to maintain their current financial lifestyle. "Two can live as one" As the old saying goes. While [...]
Greed and fear are human emotions and with them can come human mistakes. Fear: an unpleasant emotion caused by the belief that there is a threat that could harm you. Greed: An intense and selfish desire for something, especially wealth. While these words are, by definition, very different, they relate to each other in the [...]
Credit bureaus track consumers’ credit history: making sure they pay their bills, aren’t late on those bills and how much debt they carry. There are many credit bureaus but big three are Experian, TransUnion, and Equifax. When you try to borrow money from a lender the lender pulls your credit report from one or more [...]
Make sure you do not forget these tax deductions There are the standard tax reductions every taxpayer knows about, but there are three others few realize that they can deduct to reduce their taxes. Plus a bonus! Volunteer work donations Many American volunteer their time and services to nonprofit organizations instead of making financial [...]
