It’s been said that the best inheritance we can give our children is a few minutes of our time every day. It’s also true, though, that our children will not always have us in their lives.Children with special needs may require lifetime assistance, which can necessitate that parents prepare for their child’s care after they […]
Archive for June, 2014
I’m proud to pay taxes in the United States; the only thing is, I could be just as proud for half the money. Entertainer Arthur Godfrey1 Theirrevocable life insurance trust (ILIT) can be an important estate strategy tool that may accomplish a number of estate objectives, though it may not be appropriate for every individual.2,3 […]
A living trust is a popular consideration in many estate strategy conversations, but its appropriateness will depend upon your individual needs and objectives. What is a living trust? A living trust is created while you are alive and funded with the assets you choose to transfer into it. The trustee (typically you) has full power […]
If you look up “currency” in Merriam-Webster, you will find it defined as “the money that a country uses” and “the quality or state of being used or accepted by many people.” Recent news stories involving a new form of currency, bitcoin, have sparked the interest of many individuals. How Bitcoin Works Bitcoin has emerged […]
The Internal Revenue Service estimates that taxpayers and businesses spend 6.1 billion hours a year complying with tax-filing requirements. To put this into perspective, if all this work were done by a single company, it would need more than three million full-time employees and be one of the largest industries in the U.S.¹ Tip: Refund […]
When selecting a fixed–rate mortgage, a prospective borrower has to determine how many years to finance to loan. Some financial institutions offer 10- and 20-year fixed–rate mortgages as well as 15- and 30-year fixed-rate home loans. For the purpose of comparison, this worksheet takes a look at 15-year and 30-year fixed-rate loans. Tip: Payment Practices. […]
By any measure, the tax code is huge. At the end of 2013, Commerce Clearing House’s Standard Federal Tax Reporter was up to 73,954 pages.¹ And each Monday, the Internal Revenue Service publishes a 20- to 50- page bulletin about various aspects of the tax code.² Fortunately, it’s not necessary to wade through these massive […]
When financial markets turn volatile, some investors show their frustration by fleeing the markets in search of alternatives that are designed to offer stability. For example, in the week surrounding the U.S. credit downgrade by Standard & Poor’s Corp., investors pulled $23.5 billion from U.S. equity funds.1 Tip: Holding On. Ninety-three percent of those who […]
The Investment Company Institute reports that there is roughly $6.5 trillion in Individual Retirement Accounts (IRA).1 To help put that in perspective, that’s well over one-third the annual gross domestic product of the U.S.2 If you have a traditional IRA, you may have the opportunity to stretch it out, meaning the account may be structured […]
Long-term care insurance is one of the most complex types of insurance you may consider purchasing. Here’s a list of 10 questions to ask that may help you better understand the costs and benefits. What types of facilities are covered? Long-term care policies can cover: Nursing home care Home health care Respite care Hospice care […]
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