Irrevocable trusts are more restrictive than living, revocable trusts, but you can continue to maintain control and management of any assets you have in them. The dangers of these trusts lie in your inability to legally change the terms you've selected, including terms ...
Withdrawing funds from your savings account may require you to report your actions to the IRS for tax purposes. Failure to comply by these rules could result in legal penalties. Understanding when ...Read More
If you are planning on saving money for your grandchildren, you most likely are looking for an investment platform that features security, a high degree of control and potential yield from interest. ...Read More
The best – and maybe only – reason to create a holographic will is because you're in immediate peril and have no other option for letting others know how you want your estate handled after your ...Read More
As an investor, you can benefit greatly from both profit and equity share. That being said, understanding how these two concepts are different from one another will help ensure that you make the most ...Read More
Read and follow IRS rules for required minimum distributions from your IRA to save money and prevent headaches down the road. The contribution period for a traditional individual retirement account ...Read More
To encourage saving for college, the government created qualified tuition plans, commonly called 529 plans, complete with tax-sheltered growth and tax-free qualified distributions. Qualified ...Read More
You do not file taxes if Social Security benefits are your only income. However, if you have other forms of income, there’s a possibility you owe taxes on your Social Security disability benefits. ...Read More
A special needs trust is one you set up to provide for a loved one with a disability. This type of irrevocable trust -- one whose terms cannot be changed -- supplements the public assistance a person ...Read More
Owners of sole proprietorships are personally liable for damages or injuries caused by their business operations. When they are sued, both their business assets and their personal assets are at risk. ...Read More
You can't contribute savings bonds directly to a Coverdell Educational Savings Account or a qualified tuition plan, like a 529 plan, because contributions must be made in cash. To move money from a ...Read More
A 529 plan offers tax-sheltered growth for college savings. The plans are offered by states and either allow you to buy future education credits at particular schools or invest money which you can ...Read More
Divorce involves a great deal more than just adding up the value of your assets and cutting the total down the middle, particularly with regard to retirement benefits. Tax ramifications, costs, your ...Read More
Obtaining a new mortgage is often a lengthy process. It begins with your initial application and continues until you close on the loan, which may take place several weeks or even months later. In ...Read More
The term money factor is a bit esoteric, but it's easy to convert to the type of interest rate number most people are more accustomed to dealing with. Simply multiply the number by 2,400. This can be ...Read More