Arranging your affairs to avoid or postpone taxation is a true art, and effective tax planning can be the first step to your financial success and potential savings.
It’s graduation time, which means your “baby” is finishing High School and preparing to head out into the real world. If you are a parent of such a graduating senior, did you know that your child is “legally” an adult once he or she turns 18? Did you also know that you can no longer make important medical or financial decisions for your adult child without his or her permission?
Your last will tells the world exactly how you want your assets distributed when you die, as well as expresses your intentions and your goals for your assets after you die. Unless a court declares otherwise, your will dictates your wishes long after you’re gone. Do you have your will in order?
When dealing with a death of a loved one, his/her unpaid credit card bills are probably the last thing on your mind. But should you concern yourself with someone else’s credit card debt?
Once you are divorced, your former spouse is usually not entitled to inherit any money from you upon your death. But can you protect your assets from your soon to be ex-spouse during a divorce, should you die during your divorce proceedings?