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Money

September 2012
David
Legal Ease

OK to Disinherit a Child – Here’s How to Handle It

First of all, you need to state in your last will and testament, as well as any trust you prepare, that you are intentionally omitting your daughter as a beneficiary, i.e., intentionally disinheriting her.

Witham
Ernie's World

Gains and Loses

"...beginning immediately we are going to start charging you a quarterly maintenance fee for this account, equal to about six times your annual interest take. And we are going to charge you a monthly maintenance fee on your non-interest bearing checking account, so that our corporate leaders can continue to lead a lifestyle that you can only dream about."

August 2012
Ambord
Dollar Sense

Grandparents Beware! Your “Grandkids” May Be Picking Your Pockets… Or Are They?

With even a few of those facts a scam artist can put together enough information to impersonate your grandson for the few seconds it takes to terrify you, and get you to send rescue money. And don’t think that will be the end of it. When they find a willing victim, they will probably call back asking for more.

David
Legal Ease

This Nephew Won’t Get What His Uncle Wants Him to Have Likely Won’t Happen

Further, upon the completion of probate, those assets will be distributed pursuant to state law. Consequently, your uncle's desire for you to keep a portion of his estate and then give the rest to charity cannot happen if he does not prepare a will or a trust.

Ambord
Dollar Sense

Beware Fake Job Offers: Advice from the Better Business Bureau

If you are tempted to respond, keep these points in mind: in this economy employers everywhere are struggling, so does it make sense that any company, anywhere would offer high pay for little work, to people without exceptional skills?

Ambord
Dollar Sense

Prepare for High Health Care Expenses in Your Golden Years With an Annuity

Because the annuity is purchased with before-tax funds, your distributions are taxable when they are received. If you believe taxes are headed upward, of course that means you’ll pay higher taxes when you receive the money than you would on the same funds now.

Ambord
Dollar Sense

Tips for Paying Down Credit Card Debt Faster

If you are on a fixed income and get a check only once a month, try to arrange your credit card payments so that you are always a month ahead. If you have several credit card bills, start by getting one at a time on an early pay schedule, till you’re ahead on all of them.

David
Legal Ease

Why It Pays to be Proactive

Further, you should contact all of your banking institutions, as well as your physicians, for the purpose of advising them that you have revoked those durable power of attorneys and then provide them with copies of the new ones for their records.

Telleen-Lawton
Financial Fortitude

Can 401(k)s Get Any Sexier or Better Yet, Cheaper?

Their accounts are identical except for the fee charged: Investor 1 pays a $199 per month flat fee while Investor 2 pays 1.5% annually, paid quarterly. With a 7.74% compounded annual rate of return, Investor 1 can retire in 20 years, but Investor 2 must wait 23 years and three months to reach the $1 million goal.

April 2012
David
Legal Ease

Choose Your Fiduciaries for Skills Not Feelings

This is frequently a concern of clients, i.e., not wanting to hurt their children's feelings by not naming one of them as a fiduciary in their estate planning documents. My first recommendation is to set aside any concerns regarding the child's feelings and instead focus on which child is best suited to act as your fiduciary in those various capacities.

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