With Your Family in Mind
Wills and Trusts: Periodic Review
How often should you review your will or living trust? There’s no firm rule on this, but common sense applies.
You should probably reread your estate planning documents yearly, or whenever you review your financial plan. (Unless you are indigent and intend to stay so, or single, childless and so wealthy that money is of no further interest to you whatsoever, you probably need at least some kind of financial plan, a budget and a summary of your investment goals, however modest. Your attorney or tax advisor can refer you to a financial planner who can assist you in developing and implementing a suitable plan.)
Teaching Children about Money
Most experts agree that the younger children start learning about money, the better. So you would think that in these times of crippling consumer debt, troubled investment markets and the real estate turmoil that there would be mandatory training on money management in school. But since that is not the case, here are some ideas to get you started at home.
The Three “D”s of Divorce: Disclose! Disclose! Disclose!
Divorcing couples have a number of obligations towards one another, including the duty to abide by the full and complete disclosure requirements outlined in the Family Code. Both husband and wife have an obligation to disclose all material facts and information regarding the existence, characterization, and valuation of all assets and debts.
Sex and Shoplifting
Sometimes the need to do something can be overwhelming. It can become so overwhelming it can become painful. This type of pain is not physically painful like a broken arm, but mental anguish is often much more severe than physical pain and can even manifest with physical symptoms.
Begin Again
Far too often we look back over our lives with a feeling of regret. We look back over past events, things that we cannot do anything about, and we begin to beat ourselves up by asking a series of “why” questions. Why didn’t I just do this? Why did I do that? These questions often leave us so focused on the past that the hope and joy that we should be experiencing because of the future becomes clouded.
Do You and Your Spouse Need a “Marriage Spa Day?”
I lost our keys and in the aftermath had to do something and quick, and not just about the keys. I found them after frantic backtracking, frustrated grumbling and frenetic accusing. I had to do something quick about the strength and health of our marriage. After loving each other for 25 years, successfully raising two daughters, navigating numerous negativities and surviving health crises, mortgage meltdowns, job transitions, natural disasters and ‘later in life’ college educational schedules (18 hour days with late night dinners over the sink) we had now faced our biggest struggle – misplaced car keys – and had lost.
“Asset” Reflux: Diagnosis and Treatment of your Family’s Financial (W)Health
Is thinking about and dealing with your family’s financial situation making you physically or emotionally ill? If yes, you can achieve relief. Today’s financial condition takes a look at the discomfort you may feel while managing your investments in today’s financial environment.
Condition: “Asset Reflux”
Factors to Consider Whether to File for Bankruptcy
Although most people want to avoid bankruptcy, it may be the best option in some situations. Bankruptcy is a process under federal law where debtors get much needed relief from creditors’ collection actions. One of the greatest advantages of filing for bankruptcy protection is that the filing stops all collection actions immediately and automatically: foreclosures, wage-garnishments, lawsuits, repossessions, etc.
However, one should not rush to file without considering the timing of the filing because it could make a difference in the results obtained. For example, filing too soon may leave the debtor responsible for some debts.
The Summer of Opportunity
June, July and August could be the last opportunity for buyers to have the “upper hand” for real estate purchases. A few years from now potential buyers could look back and say they should have bought some real estate in the summer of 2008.
When Your Insurance Claim is Denied
I once represented an insurance company at a trial arising out of the company’s denial of the insureds’ claim for damage to their home. The insureds were quite sophisticated and testified that the court should rule in their favor because they had a reasonable belief that their policy would cover any damage to their property so long as their conduct did not cause or contribute to the damage. They lost.
Be an Effective Advocate for Your Elderly Parent
It seems our quality of life decreases as our life expectancy increases. For our elderly, it appears that healthy and independent aging is true only in magazine advertisements. Sadly, in real life, most elderly persons face frailty, unscrupulous salesmen, some type of loneliness, and unavoidable medical issues. Most of our elderly seem to have a list of medications that are impossible to keep track of, let alone take in the right dosage, at the right time. An advocate is needed for the elderly person and being an advocate can seem like a full time job.
Ask the VoiceCat-June 2008
Santa Clarita Magazine readers continue to send in pertinent questions about the voice-acting business. This is the sixth part of my answer regarding voice-over demos, and in this case, a few things not to do:
Q: I’ve voiced a number of commercials, and think I’m ready to make a demo. But do I really need to? Any suggestions as to how to go about it? –Roberta K., Santa Clarita, CA
The ABCs of Divorce Communication
While attitude is the key factor in all relationships (see our article in March 2007 issue) breakdown in communication is the part that is visible. Take a divorcing or divorced couple, add intense emotion, a pinch of sensitive issues and you may have the proverbial pot boiling over. Here are some basic tools to smooth the way:
A Smart Choice for Summer Vacation
The weather is warm and school is almost finished for another year. Summer is beckoning you but the questions begin. How can I help my child have a more successful school year? Should we review what they have learned? Would this be a good time for a tutor? How can I help my child to be more organized?
Recreate or Re-create
Somewhere off in a distant land and time (Deerfield Illinois in 1983), I was a college junior. I remember hearing about a class for seniors called “The Christian and Recreation.” I was unable to take this particular course but was curious as to its content. I remember asking myself “What on earth could the curriculum be? What did the syllabus contain? What could seniors possibly do for their final paper or presentation; sit around in lounge chairs, in bathing suits, slowing sipping iced tea?”
New Developments in Capital Gain, Property Taxes
Capital Gain Relief for Widows and Widowers:
Many widows and widowers will have more time to sell the family home and still qualify for the maximum amount of gain that may be excluded under federal income tax. A recently enacted law will offer relief.
Dad’s New Friend: Godsent or Golddigger
You were happy when your widowed father finally met a nice lady and started going out and having fun again. But now, when you call him, the lady friend tells you he’s busy – every time. When you do talk with him or see him, he looks clean and well groomed, but the conversation seems vague. For a moment, you wonder if dad actually recognizes you.
Why do We Have to Prove Who We Are?
Did you know we are all divine souls having a human experience? If we could only see that in one another, life would not have to be such a struggle. By constantly trying to prove ourselves to others and convincing them we are worthy, our capacity to love ourselves becomes polluted.
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