Thursday, March 31, 2016

How you Protect your Financial Assets During a Divorce

A divorce can be an emotionally draining time and often in more ways than just one. If you are not careful, it could be financially draining as well. It is easy to let your personal finances fall through the cracks during the events of your divorce as it is very emotionally distracting. 

There is also the possibility that you are having to split your assets to your ex-spouse or lose them altogether. 

However, there are steps that you can take to protect your assets from being taken or divided with your spouse as part of the divorce settlement. What can you do to protect yourself?

Establish Your Own Bank, Credit and Investment Accounts


If money from your own paycheck goes into your own bank account, it is easier to claim that it is a separate asset. Putting a credit card in your own name means that your spouse cannot use it to rack up debt that you may need to liquidate assets to repay. 


Having your own investment accounts enables you to claim that at least some of your portfolio is a separate asset that shouldn't be taken from you. 

Ask for a Prenuptial Agreement or Postnuptial Agreement


As long as it is done properly, a prenuptial agreement can state what happens to property before you even contemplate a divorce. 

If you own a business or have other valuables, you know ahead of time how they will be handled in the event of a divorce. A postnuptial agreement is much like a prenuptial agreement, but it is put into place after the marriage is official.

Learn the Art of Negotiation


Depending on where you live, marital property may be divided in an equitable fashion or divided 50/50. If it is divided in an equitable fashion, you may be able to get your former spouse to agree to forego a claim to a license or patent in exchange for a lump sum payment today. 

Your spouse may also agree to give up a claim in exchange for also being held harmless if you lose a judgment in the future related to misuse of that license or patent.

There is also a lot more when it comes to negotiating the aspects of your divorce that can impact your personal finances and assets. For example, are you a parent? Were you the money maker in your marriage. 

These aspects of your divorce will affect your financial situation. If children come into play, there is a possibility you may have to pay for child support. There is also the possibility that you may have to split money with your ex-spouse in order to help your child go through school or other activities they may be involved in. 

There is also a possibility that you may have to pay alimony to your ex-spouse. This can cost you a lot of money over time and it many cases it usually lasts until they re-marry. 

Therefore you want to be careful in how you negotiate these terms in order to protect your assets. This is where your lawyer will come in handy.

Hire an Attorney


Hiring someone such as Thomas A Corletta may increase your odds of protecting your assets. 

Legal counsel may be able to use state law to your advantage when it comes to dividing property in a divorce. If informal negotiations don't work, a formal trial may enable you to keep what is yours.

After a divorce, you will need your money more than ever to pay rent, pay off past debt or to provide for your child. 

Therefore, make sure that you take every step possible to protect your assets before, during and after a divorce. 

Sunday, March 27, 2016

Hints on Improving Asset Management for Your Rental



A rental property is by all means an asset, no doubt about it. And, just like it is the case with the majority of different assets, its value can be increased with the help of a couple of right actions. 

In case of rentals, the more valuable an asset is the better management it requires in order to increase its overall value and the income it brings. Having this in mind, it needs continual attention and dedication. These hints will help you nurture your property and improve its management, increasing your profit along the way.

A change in mindset


The first requirement that needs to be fulfilled is the mindset change. You need to think about your rental and approach it as an asset, not a property. Rental property is basically a static thing, and its management is too, with a fixed rate that rarely changes, routine maintenance and constant value which changes beyond our influence. 


On the other hand, asset management is all about ensuring that the value of the rental becomes more valuable with time, instead of leaving it to statistics and chance.

Be on top of things


In order to properly manage an asset, you need to know everything about it at any time of day and night. Every property is unique in a way and will require personal attendance to a certain extent and that will be time consuming. 


On the other hand, data such as location, rental rates, maintenance schedule and investment plans, to name a few, can be dealt with more easily using suitable software, Combining these methods will help you save time and stay on top of things continually and efficiently.



Multiple asset management


As you are probably well aware, managing multiple assets is an activity that demands even more attention and time. What makes it such is the fact mentioned above, that is, every asset is unique in a way and the individual tenants’ expectations are always at least somewhat different. 


If you feel you are losing control over both individual expectations and general management details, it is high time you turned to an asset advisory service. The increased income will surely justify the investment.

Availability, prompt reactions and rent raise


Individual contact with your tenants and prompt addressing of their needs is the key to establishing an atmosphere where your work is highly appreciated. In return, exceptional customer service will separate you from the competition and provide a foundation for raising a rent and the overall asset value. 


Making regular visits is expected, but the best way to make this happen is to set up an online platform where the tenants can interact with you when needed. Be available, react promptly and everyone will profit.

Intensify and improve maintenance schedule


It is important to understand that the shape your property is in has a strong impact on its overall value. A well organized, scheduled and regularly performed maintenance is essential in keeping things under control and of great importance in keeping both your tenants and yourself pleased. 


Living in a perfectly functional home is what every tenant expects and it is the owner’s responsibility to provide it. Also, keep in mind that regular maintenance prevents small problems from escalating into large issues.

Managing a rental is managing an asset. If you are ever in doubt about that, just think of how many people in this world dream of owning a real estate, let alone rent one. Having this in mind at all times, give your best in making the most of what you have, any effort invested will be

Sunday, March 20, 2016

Six Items That Hold Their Value Well, And When You Should Consider Selling Them

The stock market isn't the only place you can invest your money. With the volatile nature of the global economy, more people than ever are on the search for non-traditional investments that will allow them to continue building wealth. Read ahead for a look at six unique items that tend to hold their value in practically any economic climate.

Domain Names


Over the years, entrepreneurs and investors have made an incredible amount of money buying up generic domain names and then reselling them down the road. Also known as domain flipping and cybersquatting, this practice is incredibly lucrative for those who can find domain names with popular keywords and phrases.

Wine


Anyone who is interested in this type of investment should keep in mind that certain wines will hit a maximum value after just a few years. Investors must take some time to research the market and get an idea about which wines are profitable and how long they can be stored.

Rare Coins


Rare coins have been a popular investment option and hobby for many years. Unlike bullion coins which hold their value due to the metal they are made of, rare coins have a higher value because of their scarcity. Just as with wine, it is important to research the market and gain a better understanding of coins before making any purchases. Consider Rocky Mountain Coin Inc if you want to buy or sell rare coins.

Classic Cars


The vast majority of cars will lose their value over the years, but classic cars are an exception to that rule. A classic car can be any vehicle that is old enough to hold historical interest and continue increasing in value as long as it is maintained. In some cases, a single classic car restoration can result in a five-figure return on investment.

Sports Memorabilia


We have all heard stories of signed shoes and old baseball cards being sold for millions of dollars. While most sports memorabilia will never reach those prices, they can still hold their value almost indefinitely. With most memorabilia, the key to a good investment is verifying that it is an authentic item. 

Old Toys


The difference between investing in old toys and collecting old toys is the emotional attachment you have to the items. Those who have a strong connection to a certain brand or style will either need to detach themselves emotionally when it comes time to sell or consider another item to invest in.

Hopefully, these six ideas will give you a fresh take on some ways you can invest without dumping more money into the stock market.


5 Financial Programs to Investigate after Receiving an Injury

Sometimes life can take unexpected turns. If you are injured in an accident, you feel like your life has been turned upside down with no end in sight. Bills just keep piling up, and you do not know where to turn. Fortunately, there are financial options to pursue if you need help after receiving an injury.

Disability Insurance


Private insurance companies offer this type of insurance if you cannot work because of an injury. After you have been injured, you file a claim. If approved, the insurance company will pay what you would have received at your workplace. You must be able to prove that you can no longer work.

Social Security Benefits


If you are injured at work and cannot work because of your injury, social security disability insurance is available. You will be required to take a physical exam and fill out numerous forms of paperwork to be accepted, but you could be able to obtain social security benefits.


Find a Lawyer


If you have been seriously injured, you need to hire an experienced personal injury lawyer. Attorneys can help relieve your anxiety and file any claims that need to be filed. 

They will look at your situation and tell you the best course of action. Professionals, like those at Tarkowsky & Piper Co., L.P.A., use many resources for each case. Utilizing any available resources in such a situation is paramount to success. 

Most personal injury attorneys do not ask for a fee unless your case is won. They will give you advice on how to proceed and whether or not they can help you with your case.

Workers Compensation


If you have been injured at work, you should qualify for worker’s compensation. This can help you pay for medical bills, and it can provide you with income if you cannot work because of your injury. It will give you financial relief while you are recovering.

Obtain a Loan


If pills are just adding up, you might look into the option of obtaining a home equity loan. You can use the equity in your home to take money out. This is a last option if you still need money after pursuing the other options. 


However, this can be risky because if you cannot pay, your home is collateral. Therefore, make sure you can make the payments. This is only a temporary solution.

Suffering an injury can be a very stressful time in your life. However, there are things you can do to help you keep your head above water financially. This will then give you time to heal and get back on track.


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