September 2011 Monthly Archive
September 27, 2011
Establishing durable power of attorney is a good idea for anyone that has bills to pay or wants to have a say about medical treatments they receive. POA is a legal document that gives permission to another person to make decisions on your behalf if you become injured or too ill to make decisions or are out of town and unable to appear in person.
Durable power of attorney documents need to be executed for both personal finance and health care. The person who will be in charge of making decisions is known as the attorney-in-fact. This individual is usually a spouse, parent, or relative, but can be anyone you desire.
September 20, 2011
Asset management is essential for business owners and real estate investors. This system is used to maintain record of owned assets and is necessary for tax reporting, obtaining financing, and deciding when to buy and sell properties.
Investors utilize asset management software to determine return on investment for multiple properties. Reports provide cash flow forecasting, performance analysis, and benchmarking, along with monitoring risks and exposures for each property held.
Real estate investing is filled with potential landmines; especially in today's market. Investors need to take advantage of every tool available to help them assess risks and maintain positive cash flow with investment properties.
September 13, 2011
Wills provide a legal record of written directives regarding how estate assets should be distributed upon death. While it's not a task people enjoy doing, writing a Will is an important element that shouldn't be avoided.
Wills are vital documents for individuals wanting to take care of their family after death. This written contract makes the job of estate settlement much easier for estate executors.
Every estate that passes through probate needs an estate executor to take care of final matters. The Will is used to name the person who will assume this role.
September 05, 2011
Even though an inherited Roth IRA is subject to tax levies when transferred to beneficiaries, it can be a smart approach for keeping financial assets out of probate. Account holders pay taxes when they make deposits into the IRA, but fund might be subjected to estate tax if they exceed allowable exemptions.
When heirs acquire an inherited Roth IRA it's best to retain the services of a tax accountant. Rules surrounding estate tax has changed over the past three years, with additional changes planned for 2012.