Wills and Estate Planning 101

By Cindy R.

Estate planning is the process of putting a plan together to take care of your family and you assets when you die. No matter how little you may have in assets it is important to have a estate plan in place. Key elements of an estates plan include a will, powers of attorney and possibly trusts. We'll cover each of these in turn

Last will and testament - This is the most basic, and often the most important, element of an estate plan. You last will states your intentions regarding your property upon your death. As fundamental as a will is to your plan they are not necessarily easy to get right. If you try and write your own will and make a significant mistake your will make be disqualified and your estate will be distributed as if you didn't have a will at all. While probate laws in each state are written to handle this process in a reasonable manner, the state rules could run exactly counter to your personal wishes. Hiring a professional to help draft your last will is a wise investment.

Next in the process comes the durable power of attorney. A power of attorney allows another person to make decisions on your behalf and a durable power of attorney is a special kind that allows the decisions making authority to continue if you become incapacitates and unable to make decisions for yourself. This is particularly helpful when it comes to making medical decisions and there are specific versions call a health care power of attorney for this purpose.

Living Will - A living will is an advanced directive that spells out your wishes to caregivers if you become unable to communicate them due to incapacity. It can be very specific to certain situations such as not wanting to maintain life support if a physician determines that your situation is terminal. A living will is usually created in conjunction with a Health Care Power of Attorney.

Next we are going to cover Trusts. Trusts are another vehicle that allows you to direct certain types of property with the added benefit that you can place restrictions and requirements on the assets. One of the most significant advantages of trusts is that there is no court involved. This allows for immediate dispersal of assets by the trustee (the person administering the trust). Because there is no probate court involvement trusts can also bypass public record of the transactions.

There are also significant ways to manage taxes at your time of death. Some of the many tools available to do this include a wide array of trusts (life insurance, remainder, personal residence, etc) and life insurance policies that pay directly to the beneficiary upon death. These vehicles are at the more complicated end of the estate planning spectrum.

Your first step is to create a list of all of the property you own. Once you have this list make a determination about who you want to receive each item. At this point it is a good idea to talk to your immediate family regarding your wishes as this can avoid significant problem in the future.

Estate planning can seem like a daunting undertaking, but knowing that it is very important and taking it one step at a time will help you complete the process. Hiring professionals to help you in the process is also extremely helpful and highly encouraged. - 23218

About the Author:

The Texas Wills web site is where Cindy writes about Wills In Texas and other estate planning topics.

Government Auctions - Why Pre-foreclosures are Preferred by Real Estate Pros

By Jody Caldwell

Due to the recent real estate collapse, many people across the United States are losing their homes to foreclosure. The period of time before the official foreclosure is called pre-foreclosure. Depending on the state the pre-foreclosure period lasts from seven days to a 60 days. Real estate experts know that the pre-foreclosure period is a great time to purchase a home.

A lot of times the banks don't want to deal with having to foreclose a home, so they will allow the owners to sell it during the pre-foreclosure period. You can get a great bargain in buying a pre-foreclosed home.

Here are several reasons that real estate experts feel it?s a better idea to purchase a home during a pre-closure period instead of waiting to buy a foreclosed home at a government auction:

- Pre-foreclosed houses are often times cheaper considering it?s being sold by a home owner that is in a hurry to sell it before facing foreclosure.

- Since you won?t be at an auction, you will be given more time to talk to the home owner about any questions you may have concerning the house.

- You won?t have to worry about things becoming hectic like they would at a government auction.

- You will be given more time to consider your finances before making the decision to purchase a pre-foreclosed home.

- You will be given more time to access and evaluate your finances before buying a pre-foreclosed home.

- You have more time to have a pre-foreclosed home inspected than you would at an auction. You will be aware of any potential problems the house may have.

- You will be allowed to make a low down payment on a pre-foreclosed house. At a government auction you would be required to pay the total amount in cash.

As with any house purchase make sure you check for any judgements, or liens against the estate. Bring along someone how is familiar with buying real estate and if possible have the house professional inspected. The risks are comparable to a traditional type of home purchase but with the advantages of foreclosure discounted pricing. - 23218

About the Author:

Read descriptions on the best pre-foreclosure sites to see what they have to offer at government auctions review or go direct to pre-foreclosures

Looking for the Best Investment

By Rick Amorey

If you've graduated for a few years now, and have since been working non-stop, then chances are good that you were able to build up your savings. You may even have paid off that student loan ages ago. One look at your savings account tells you that you have sufficient capital for an investment. No one plans to be an employee forever, and you are no exception, I'd imagine.

So now that you've made up your mind to start investing, where do you place all that hard-earned income? There are a multitude of investments that you can get into, but you have to be able to choose carefully. Here are some of the more popular options:

*Set up your own business. This is probably the best option for you if you feel that your interest or hobby can turn into something that earns. To run this business correctly, though, you must have the capacity to dedicate most of your time to it. Basically, this is not the preferred option if you are employed at the moment.

*Checking out the stock market. Stocks are quite evocative; the pit of brokers haggling at the top of their lungs is an image that has been cemented in my head, thanks mainly to the movies. Stocks have one of the best opportunities for high yield, but do not be quick to dismiss the possibility for havoc that stocks could do to your savings. If you don't thread carefully, you'll really lose a lot.

*Bond investing. A bond is a debt security, where an authorized issuer borrows money from you. They will pay you back in parts semiannually. When compared to stocks, bonds are seen as the safer ways to invest, but it also gives out one of the lowest amounts of yield. You can, of course, make it more exciting by buying or selling bonds before it matures. Doing so may increase the profits, but doing so will also increase the risk factor.

*Get a mutual fund. These mutual funds are federal approved; the increased security is important because the managers of a mutual fund company will be the ones making the investment decisions for you. At the end of each year, an investor will get a report of where his or her money is, and how much it has grown. This is a very attractive choice for those that want to invest in something, but feel like they can't afford to do it by themselves.

So those are some of the most popular investments for people who like to think forward. So long as you know what you're doing, investing in any of these will help your money grow. Just don't forget that patience is a virtue, and above all, have the sensibility to stick to your investments. Don't back down at the slightest sign of trouble. - 23218

About the Author:

Rick Amorey believes that shortcuts to success are a joke, and instead suggests the comprehensive program of Emini Trading. Build up your portfolio with the help of Emini Trading System, and secure your future at a consistent pace.

What You Need To Know About FDIC Insurance

By Melony Bronk

What is the FDIC

The world financial crisis has dried up the credit market, caused money giants like Lehman Brothers to crash, and forced gigantic banks to combine, making many folks wonder where their money will be safe. Through the FDIC or the Federal Deposit Insurance Corporation the bank is still the best place to keep your money regardless of what occurs to your bank. In October 2008 the deposit insurance was briefly raised to $250,000 per depositor thru December 31, 2009, so if your area bank falls down you can still be guaranteed your deposit up to $250,000.

Understanding FDIC

Established in 1933, the FDIC was made to increase public confidence in the U.S. bank system. This worked by providing all depositors in FDIC-insured banks coverage up to $5,000 (in the 30's), and 2nd by taking over for a failed bank to assemble and sell the bank's assets to settle the bank's debt including claims for deposits above the insured amount. The FDIC receives its funding from premiums paid by insured banks as well as money from its investments in US Treasury securities ; no government money is used.

What is Safe?

To take advantage of the full protection the FDIC offers, there are a couple of things to bear in mind. First FDIC coverage does not extend to all finance establishments so ask your bank if they are covered or check the FDIC site to see whether you bank is listed. Second coverage is for individual deposit accounts only up to $250,000 so no stocks, bonds, safety deposit boxes, hedge funds, etc.

Beyond the $250,000 Coverage

For coverage beyond the $250,000 there are some specific examples like creating deposits under different ownership categories where excess coverage is allowed. Revocable Trust Accounts, or a deposit account opened by a person with the stated goal of the account being turned over to a number of beneficiaries on the demise of the original account holder, can get over $250,000. For instance if Mr. Jones has a deposit account worth $500,000, both his children would get $250,000 each if they were the beneficiaries named on the account. - 23218

About the Author:

Educate yourself about FDIC insurance at MindOnYourMoney.com - go to the investing site and read the indepth article about FDIC insurance.

A Crash Course in Foreign Exchange Market Forex Trading and how to Succeed Winning in the Forex market, Learn how.

By Jake Leyman

In foreign currency or foreign currency exchange, everything is about money. Money from all over the world is bought, sold and traded. On the Forex, anyone can buy and sell currency and eventually went ahead in the end. When dealing with foreign currency exchange, it is possible to buy the currency of one country and selling it at a profit. For example, a broker might buy a Japanese yen when the yen to dollar ratio increases, then sell the yens and buy back American dollars for profit.

In foreign currency and stock market have some common features, which includes buying and selling to make profits, but there are some differences. Unlike the stock market, the Forex is very high liquidity. This means more money is changing hands every day. Another key difference when comparing the Forex to the stock market is that Forex is not a place of exchange and he never quits. In Forex involved trading between banks and brokers from around the world and twenty-four hours of access during the work week.

Another difference between stock market and Forex Forex trading is that there are much higher livaridzh that the stock market. When someone decides to invest in foreign currency, you can expect much higher profits when they are experienced and understand how it works. May not be the possible loss of more money as well.

For those who are only first steps in a foreign currency, many brokers provide the service to negotiate with the mini-Forex system. This is less than the minimum amount, usually $ 100. This makes it easier to learn how to trade Forex, the less chance of losing money, and you know how the system works.

There are lots of terminology when it comes to Forex. Learn Forex trading can be a bit complicated for novice trader. When looking at the names used in foreign currency symbol is composed of two parts. The first, which is used is one currency and the second half of the symbol is the second currency to be used. The symbol "USDJPY" means "I U.S. dollars and Japanese yen. It is important to know that when learning Forex currency symbols. There are many books and websites dedicated to teaching traders about using the Forex.

For those using a Forex broker is generally a good idea. Brokers are professionals when it comes to the Forex and their experience is invaluable, especially for the newcomer. When it is time to seek an intermediary, there are many factors to consider. One thing to find the choice of forex broker to go with someone who offers spreads Netherlands. Calculated on the seeds or the difference between the price at which money can buy and the price can not be sold at any time. Since Forex brokers do not pay commissions, the bar will make you money, or margin. Choosing a broker look at this information and compare it with other agents.

Also, when looking on-Forex broker, look for one that is supported by well-known financial institutions. Forex bankers are generally associated with large banks or other financial institutions. If a firm is not a large bank, keep looking. In addition, a broker who is registered with futures Commission Merchant (FCM) and is regulated by the Commodity futures Trading Commission (CFTC). Ensure that the broker is properly registered and backed by a large bank or institution ensures that you obtain reliable broker that is experienced in trading on the Forex.

Search broker, check to be sure that the broker has access to the latest research tools and data. It is important that brokers understand and have access to graphics, charts, news and data that are in real time. This will ensure that the broker is making wise decisions based on accurate Forex forecasting. Also, look for a broker that can offer a wide range of options for the account. They should offer mini-accounts with lower minimum deposits and a standard account. This will give all who are interested in the possibility of Forex trading at a level where they feel most comfortable. - 23218

About the Author:

If your looking for a similiar Forex robot system with a slightly different algorithm then check out the Automatic Forex Crusher. Both are able to pin point winning trades within the forex market. If your interested in selecting winning trades in the Forex market then what you need is a Forex companion. Take a look at the Forex Supremacy robot system, an advanced system profitable and automatic.