General Interest Melody Avecilla
PICTURE this scenario: A woman leaves her car securely locked and safely parked on a quiet side street. But the unexpected happens. When she returns, her car is severely damaged.
This scenario has a happy ending. After the initial shock, she calls her insurance agent. The agent guides the woman through the claim process and explains that her car policy’s collision coverage will pay the cost, after the deductible is met, to repair her car.
YOU’VE worked hard to accumulate valuable assets over the years. How do you plan to distribute this property after your death?
It’s important to have a will, regardless of the value of your possessions. This written document instructs how you want assets that pass via your will (money, property and other assets) to be distributed after your death. If you die without a will, your probate assets will be divided according to state law.
So your 1040 is filed and you are now anxiously waiting for your refund. What do you plan on doing with it? Go on that longawaited cruise, get a new set of golf clubs or buy that widescreen TV you’ve had your eye on? There are so many ways you could spend your refund , but there may be better alternatives to consider.
According to the Internal Revenue Service, over 75 percent of American taxpayers received a federal tax refund, with the average around $2,000. It’s what you do with your refund now that may create a better financial future for you and your family later on. Instead of spending your refund this year, consider funding an Individual Retirement Arrangement (IRA), setting up a college savings fund for a child, or paying down credit card debt. These options will help to improve your financial situation.
LAW enforcement has a new weapon against arson, and it happens to be man’s best friend.
Arson Dogs have been used since 1986 to detect accelerants, which can sometimes single out arsonists.
Water damage can occur almost anywhere in your house. Water-using appliances and fixtures, such as refrigerators with icemakers, dishwashers, washing machines, toilets and water heaters are common locations of leaks.
Unfortunately, slow leaks at these appliances and fixtures are often times impossible to see until it is too late. If it goes undetected, a slow leak can lead to rotting house framing and subfloors, and can be a precursor to a catastrophic leak that can release several gallons of water per minute, causing extensive water damage. A water leak detection system may help prevent these problems.
If you are self-employed or the owner of a small business you probably understand the difficulties in finding and keeping qualified employees. There are many factors that an employee will consider when deciding where to work. One that may be overlooked is the availability of a tax-qualified retirement plan.
According to a recent survey by the Employee Benefit Research Institute (EBRI), 25 percent of small business owners stated the most important reason for offering a retirement plan was recruiting and retaining employees. Another 19 percent said the positive effect on employee attitude and performance was the most important reason they offered a plan.
The life insurance coverage provided by your employer is one of the many benefits you may not think about on a regular basis. As long as you are working, it is something listed on your pay stub and in a yearly benefits statement.
Your coverage is there as long as you are employed. But what happens when you retire? Will you still have all the coverage you had? Does it retire when you do?
What would you say about an insurance policy that claims to provide guaranteed income for the rest of your life or a specific period of time? Possible income that you cannot outlive¹? Does it sound too good to be true? That is the principle behind annuities offered by many insurance companies.
For either a lump sum or series of premium payments, an insurance company will promise to pay you an amount determined by what you have paid in, interest rates, the options you choose as well as your life expectancy. You can select between fixed annuities that are based on interest rates or variable annuities allow you to allocate premiums to Subaccounts that invest in underlying funds.
As parents, we understand the value of a college education. But what happens once our children are grown and have children of their own?
As a grandparent, you may want to help your grandchildren save for their education. Luckily, there are tax-advantaged vehicles available to help grandparents save for higher education.
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