Articles
Will Contests: A Good Offense is the Best Defense
Will Contests: A Good Offense is the Best Defense When an elderly grandmother leaves all of her assets to a new beau, or Dad leaves everything to the child who visited most in the nursing home, a will challenge may be in the offing. Will contests generally are brought by unhappy family members who feel…
Capital Gains: Determining Your Tax Basis
Capital Gains: Determining Your Tax Basis The two chief forms of income for most people are “earned” and “unearned” income. Earned income (generally, your compensation for work that you do) is taxed at rates beginning at 10% and rising to 38.6% (in 2003). Capital gain, the income earned from your investments, receives preferential treatment. The…
Making the Most of Home Equity: Tips for Senior Citizens
Making the most of home equity For senior citizens living on fixed incomes, the need to replace a car or do substantial home repairs can disrupt finances. Major unplanned expenses caused by illness or disability can lead to financial disaster. Fortunately, many senior citizens are sitting on a major financial asset: the equity in their…
Keeping Your Health Insurance Premiums Low
Keeping Your Health Insurance Premiums Low Health Savings Accounts (HSAs) offer tax deductions for medical expenses, and the opportunity to set up an additional retirement account. But regardless of any other positive benefit of HSAs, lower premiums are the primary reason that thousands of Americans have chosen Health Savings Accounts as the best way to…
Identity Theft: Has your name been stolen?
Identity Theft: Has your name been stolen? Identity theft—the unauthorized use of an individual’s name or personal information to obtain money or credit—is the fastest-growing white-collar crime. Most probably, more than 700,000 Americans will be victims of it this year, with costs to them averaging over $800 and 175 hours of time spent trying to…
Q & A: IRAs for your Children
Q & A: IRAs for your Children Establishing a retirement plan for a child might, initially, sound a bit strange—or at least premature. Truly, it is not. Establishing an IRA for your children or grandchildren can help them achieve financial independence in retirement and, possibly, for the rest of their lives. That claim may raise…
Land Management: Conservation Easements
Land Management: Conservation Easements Real property–land and the home or other structures on it–often has special significance to the family that owns it, to the surrounding community or to the ecology of the area. It may have played a role in an historical event; provide habitat for wildlife; command a magnificent view; or offer access…
Personal Finance 101
Personal Finance 101 The subject of personal finance is very broad, but as a beginning, I would like to discuss what I consider the foundations of personal finance: Security, Stability, Growth and Protection & Management. Security Security to me means that I am prepared for the “hit by a bus” scenario. I have life insurance…