As the U.S. dollar declines in value it makes American assets such as the Chicago Skyway more desirable to foreign investors. How does a declining dollar value affect your pocketbook? When you travel you may get less currency in exchange for U.S. dollars. In addition to a declining dollar, Americans have been able to borrow money to buy items such as cars at low interest rates.
Estate planning such as designating power of attorney is a smart move. A living will, has nothing to do with the financial aspect of estate planning, but allows you to describe the kind of medical treatment you want in certain situations. A durable power of attorney is a good move as far as estate planning, because it lets you select someone to make tough decisions and pay bills for you after you are no longer able to choose.
Ready to get your estate in order? Look no further for estate planning advice Here's how to get your estate planning started with living wills, powers of attorney for health care, and powers of attorney for financial matters.
When you have rental property that you want to bequest to your children you should do some estate planning. You can change the real estate title while you're alive or wait until your passing depending on your estate planning. Depending on how you pass along the property your children may face an increased cost basis when they sell the home, resulting in higher taxes. To reduce taxes on an estate it's helpful to set up a trust as part of estate planning.
What can a currency exchange do for you that a bank can't? Many people use currency exchanges to cash checks, pay bills or obtain money orders. For people living in neighborhoods that don't have many financial institutions, currency exchanges offer easy access to various financial services. However, currency exchanges earn a profit by charging a fee for most of their services. As such they tend to be a more expensive option than other financial institutions. More importantly, there are no savings accounts at currency exchanges. You won't build up your personal net worth if you only frequent currency exchanges and never visit the bank.
Do you have an estate plan? You do, whether you intended to or not. If you haven't made out a will or a trust, you have a plan--unfortunately, one that is defined by the laws of the state where you reside at your death. Don't let the state decide important matters like who gets guardianship of your children. Put together an estate plan that includes a will, powers of attorney for health care and financial matters and possibly a trust.
How can I lower my energy bills? Great question! Winter energy bills can really put a dent in your pocketbook. Here are some great ways to lower energy bills and save money while staying warm in the process.
When you're giving property as a gift, do you're homework to minimize the gift taxes. If you want to give real estate as a gift and not pay high taxes to the IRS, you have to take a few important steps, and consulting an attorney will help you take them. Ilyce Glink walks you through the basics of gifting property with minimum gift taxes.
Can a partner transfer the deed to their home and avoid paying off a student loan bill. There are legal and ethical angles to this proposition, but each person is responsible for his or her own debts and to the extent any of us has assets that can be used to pay these debts, we must use all or some of the assets for that purpose. Creditors have a legal right to pursue your partner for his debts when and if he stops paying his obligations. They do not have a right to pursue you, as long as you are not married to your partner.
Conventional loan limits are changing and that presents an opportunity for those of you who have jumbo loans. Jumbo loans, also called non-conforming loans, are loans that exceed the loan limits set by various housing agencies and typically have higher interest rates. If you have a jumbo loan, take advantage of the new loan limit definitiions and switch to a conventional loan if you can. You'll save a half percent in the interest rate in the process -- that's a substantial savings over the life of your loan.
