Article Summary: A 26(f) retirement program is designed to build wealth by investing in a life insurance policy. If done properly, these plans utilize tax advantages and build cash value. Note that unlike a 401(k), a 26(f) program is not backed by an employer. However, the consensus among financial advisors is you can obtain similar […]
Article Summary: Tenancy at sufferance is when a tenant remains in a property past the end of their lease agreement. Both the tenant and landlord have certain rights and responsibilities during a tenancy at sufferance, and the landlord can choose to evict the tenant at any time. Whether you’re a landlord or a renter, it’s […]
Article Summary: Most of the time, you cannot insure a car that isn’t in your name. This is because auto insurance policies are designed to support the vehicle owner, who has an insurable interest in the vehicle. However, there are a few scenarios that allow for non-owner insurance policies. Insurance is important. It protects you, […]
Article Summary: Assignor and assignee are terms typically used to define roles in contract assignments. The assignor is the original party to the contract. They have the ability to assign the rights and benefits of said contract to a third party, otherwise known as an assignee. Typically, these are most used when considering wills and […]
Article Summary: Power of attorney after death gives a person the authority to act on behalf of the deceased, also known as the principal, to execute their wishes after they pass. This differs from a power of attorney, which is only valid when a person is permanently incapacitated in some way, but is otherwise still […]
Article Summary: Branded titles belong to cars that experienced serious damage, such as during a major accident or a storm. If you see a branded title being sold at a dealership, it has been repaired and inspected by your state’s DMV. The vehicles are often sold at a discount because of their previous damage histories. […]
Article Summary: A rebuilt car title means that your car suffered extreme damage at one point and was declared a total loss. From there, the car was repaired to the point that it has been deemed street legal. Repaired titles are given as a way to show that the car has been rebuilt, rather than […]
Article Summary: Unfortunately, a person’s debt doesn’t magically disappear when they die. Instead, the deceased’s debts are often settled by the assets in their estate. Often these assets will cover all the debts and the remainder of the estate will be distributed among the inheritors. In some cases, however, heirs will inherit debt as well […]
Article Summary: In various circumstances, such as when signing up for a life insurance policy, setting up a retirement account, or establishing a trust, you will name one or more beneficiaries. All the conditions in the policy, trust, or account must be legally documented. When all these conditions are met, the income, proceeds, or benefits […]
Article Summary: Per stirpes and per capita are two different ways of distributing assets in a will. Per capita evenly divides an estate among the surviving beneficiaries, while per stirpes allows assets to pass to the next generation if a beneficiary has already passed. Estate planning is one of the most critical pieces of the […]
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