Homestead Exemptions Within A Living Trust
A living trust is a document that creates a separate entity to hold all of your assets. The trust holds the assets, which are managed by you as the sole trustee until you die. Upon your death, the assets are still in the trust and a new trustee can managet the assets and can even sell them.
Financial Planning Before Marriage
It is important to talk about your personal finances with your future spouse before you get married. You and your fiance should sit down to talk about your money values: How you feel about money, how much cash you need to live on, what you're willing to give up in order to save money. Do you and he agree on what you should spend to furnish your home, go on vacation, and for your vehicles?
Check 21
Check 21, a new federal law, prevents taking advantage of the ""float"" when you write a check. Checks clear faster so you'd better have the funds in the bank when you write a check."
Benefits Of Retirement Accounts Over 529 Plan
Retirement accounts have many benefits that 529 plans don't have/ If you start closing traditional IRAs (which are pre-tax dollars) and moving them to a 529 plan, you'll have to pay taxes and the penalty on the cash. You won't pay taxes on the contributions to your Roth IRA, but you will pay taxes and penalties on any earnings if you switch the funds to a 529 plan. On the other hand, you can withdraw contributions and earnings from your Roth IRA tax and penalty free if you use it to pay for college tuition, medical bills, or a down payment on a first home.
Building A New Home? You May Need A Home Building Coach
Building a home? If you want to build a new home, you may want to consider working with a home-building coach.