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Money

December 2014
Ambord
Dollar Sense

What’s Best for You -- Bank, Credit Union or Going Bankless?

The economy that motivates each of us is the economy of our own household. Sometimes that means ditching the bank and finding a way that suits our pocketbooks.

David
Legal Ease

The Crucial Basics of Getting Down to Business About Your Business

Since you have children working in the business who may want to become owners at some point, you will need to carve out an exception in the buy/sell agreement which would not require the sale of your ownership interest in the company at your death, allowing you instead to transfer that interest to those children upon your death.

November 2014
Ambord
Dollar Sense

Potpourri: Miscellaneous Stuff You Need to Know About Your Benefits, Your Life, Your Money, and How to Make the Most of It All

The Insurance Institute for Highway Safety (IIHS) shows, it’s no longer true that older drivers are more likely to get into traffic accidents. In fact, safer cars and improved health among seniors shows they are actually less likely now to be involved in a crash than their youngers.

David
Legal Ease

Passing It On Eased with Proper Paperwork

Some states allow what are known as “ladybird” deeds or “beneficiary” deeds. With this type of deed you would transfer your interest in the home to yourself for life, and upon your death, if you still own the property, the property is conveyed to the beneficiary you have named.

Telleen-Lawton
Financial Fortitude

What Cost to You for Your Kids’ Dreams and How Could You Help Achieve Them?

I will begin by verifying this most important assumption: that you can afford to loan or gift him this money. Your retirement is your most important obligation: you do your kids no favor if loaning them money now makes you dependent on them later.

October 2014
Ambord
Dollar Sense

Could Your Housekeeper Sue You?

Many people assume their homeowner policies will help if an employee is injured in while working in the home. Generally that is not true. Homeowner insurance will cover injuries to guests. It might also cover some injuries to a contractor working at your home, but homeowner insurance does not usually cover a domestic worker, like a housekeeper

Ambord
Dollar Sense

Is Your Retirement Plan Doable?

If you’re now contributing to a 401(k) plan, you are likely getting a healthy tax break for that. But once you stop contributing and start collecting, the tax situation flips. You no longer have a deduction, and the distributions you get will be taxable. Whoops!

David
Legal Ease

Updating Documents Likely Not Just an Exercise in Fee Churning

One example where I have found it especially beneficial to have updated documents is with the financial and health care power of attorneys where the deceased spouse was named as the primary fiduciary.

Kaderli

Why We Chose to Take Social Security at 62

For some people deferring until their full retirement age could make sense, especially if they do not have the assets to support themselves, are poor at handling money or if they are still working.

September 2014
Ambord
Dollar Sense

Help the Grandkids with College, Rake in Tax Benefits for Yourself

Grandparents who list themselves as the owners of the account may do so because they fear the grandchild’s parents will withdraw the money and spend it for other purposes. But if there is a need for financial aid, this can work against the recipient.

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