Handling Finances: How to Plan For Your Estate

You don't need to own a lot of property or have a great deal of money to need an estate plan. In fact, if your possessions are limited but those you want to give to are in serious need, you'll want a plan that will disperse your assets quickly. Making a list of what you want to accomplish, what you have, and how you want things parsed out is critical.

What's Your End Goal?

Do you have a charity or family member that holds your heart? Then you have a reason to create an estate plan. Carefully consider the people to whom you want to leave your hard-earned possessions and ready cash. 

While making this list, pay special attention to your remaining dependents, including pets. You want to know that if something happens to you, others are covered.

Define Your Assets

To start, make a list of all your bank accounts. What funds do they have, and where will this money go? Then, make a list of your possessions of value. This can be a home, a car, art, or jewelry.

If you own any of these things jointly, sit down with your spouse or partner, and define how you want these possessions to track. If you're married, generally your surviving spouse and offspring will immediately receive the assets. 

If you're divorced, there will likely be legal limitations to be overcome before your asset dispersion can be securely defined.

Stay aware of the laws in your state. Consider a conversation with a Los Angeles estate law firm to protect your California home and assets, for example, from probate or other asset-draining stages in dispersal.

Proper Valuation

Bank balances, retirement accounts, and other monies, stocks, and bonds are fairly straightforward as far as determining their value. However, real estate values change over time. 

Additionally, if you own art that you purchased early in the career of an artist, it may be worth much more as that artist builds a following.




Proper valuation of your assets is particularly important if you're splitting your estate between heirs upon your death. Hire a professional to give you a valuation on anything that may be of fluid value in the future, and get it reappraised in the event of a sizable market change.

Covering Your Assets

If you know that you're leaving behind someone who will need what you intend to give them, it's critical that you invest in the insurance you need to avoid end of life costs. 

A basic long-term care policy, taken out while you're hearty and healthy, can be of manageable cost as you age and make it possible to pass on your legacy.

Additionally, it's important to remember that it's not only age that can lead to needing long-term care. If you have children, it's crucial that you have a plan in place in case you are incapacitated by illness or injury.

Speeding Up the Process

Create vehicles in which to place your assets for long term needs. If the person you want to give to has special needs, consider setting up a special needs trust. Work with an attorney so you can be sure that your assets go in the right vehicle.

For example, if you have a dependent child who will always need support, the right trust will allow them to receive disability insurance as well as your contribution. 

The wrong trust will block them from receiving any disability until the trust has been completely wound down. Each state is different, so do this right the first time to protect your loved one.

Avoiding Probate

If you only have a will, chances are extremely good that your goods and monies will have to go through probate. Depending on the state you live in, avoiding probate will take multiple steps unless you have a surviving spouse. If you are divorced or your spouse has passed on, probate is likely the next step.

Probate is time-consuming, frustrating, and sometimes costly. Don't rely on your will to protect your loved ones from this process, especially if they need those assets to thrive. Address this while you have the ability to make good decisions.

Nobody likes to think about estate planning, but it's an important part of your legacy that needs to be addressed. Do the right thing now to protect the people and causes you want to support in the future.

Bad Wallpaper or Structural Damage? Tips for Finding a Right Fixer Upper Home for the DIYer

Many people want a move-in ready house, but there are plenty of others who are happy to do their own updates and remodeling. However, there comes a point where a fun fixer upper home just isn’t worth the trouble. 

To make it worthwhile, you have to find the right property for your budget and your time. Here are a few tips to keep in mind when hunting for a promising DIY property.

Financial Planning

Explore your financing options for buying a house in your price range. You may want to apply for a mortgage, which will require an appraisal as well as a twenty percent down payment. 

You will also need property insurance and the financial standing to afford monthly payments. In addition you should develop a budget for the cost of repairs, utilities, and taxes while the house is renovated.

All together, you will need to finance a fair amount of money up front. Another option is to use savings or a home equity credit line to buy the house up front, which will eliminate the need for a mortgage. Talk to a financial adviser, like David Laut, about the most feasible way to handle this investment based on your current circumstances.

Comprehensive Inspection

If you are experienced and qualified, you can perform a detailed evaluation of the property you want to buy. Otherwise, you can hire a professional inspector to do a comprehensive inspection of the premises. It is usually recommended to use a professional inspector to better protect yourself legally and financially.




The inspector will check the house from roof to basement, and they’ll also check the lawn as well as any outbuildings on the property. The inspection can find hidden problems like structural issues or a septic tank defect that can be very expensive to repair. 

Knowing in advance about these issues will enable you to make an informed decision about whether to buy the property anyway or find one with fewer problems.

Time and Cost Budget

After being pre-approved for a mortgage or arranging finances in advance and then finding a property you want to buy, create a time and cost budget. Knowing up front how much time will be needed to do the repair work as well as the accompanying costs will give you an idea of whether a certain property fits your DIY capabilities.

Family Helpers

For minor work like lawn care and light demolition or hauling, you may be able to hire family members who would like the work instead of professionals for a cheaper rate. Renovations are a great learning experience for teens and siblings who want to learn some home care and remodeling skills.

Avoid snap judgments and quick purchase offers even when you’re looking for a fixer upper property. Otherwise, you could find yourself in over your head. Prepare in advance and carefully assess whether a certain property will be a good DIY opportunity.

How to Make Sure You Always Have Health Insurance During Any Life Event

Each year, there is always a time where you qualify to enroll for health insurance coverage through one of the following ways:

• Through your employer

• The federal or state government insurance brokers

• Directly through insurance brokers

For most states, the open enrollment for a cover runs between 1st November through to 15th December. At this duration, you can enroll for a new plan or change your existing plan.

There are, however, special enrollment periods that enable you to enroll for a cover outside the open periods. These include the following:

Marriage or Divorce

In case you get married or are going through a divorce, you always have two options. The first option is getting a new insurance cover, and the second option is changing the current cover, where you can make changes to your marital status. In the case of getting married, you can opt to include your spouse on your insurance cover.

Getting a Baby or Adopting One

For childbirth and adoption, it is necessary to have your growing family in your cover. The options available are either getting a new cover that can include the whole family or adding your child to the existing cover.

Moving to New Neighborhoods

Some health plans usually have a geographical limitation. To always stay covered, talk to your agents and find out whether the new location is covered. In case of a non-covered area, get a new plan.

Loss of Parental Coverage

When children are 26 years of age, they can no longer be under their parents' plan. This means they should enroll for their plan after their 26th birthday. Once your kids come of age, encourage them to start searching for a viable insurance plan.

Loss of a Job-Based Cover

It is possible to lose a job-based cover, especially in the event of loss of work or contract termination. In this situation, you qualify to get insurance at any time of the year.

Gaining American Citizenship

After acquiring a lawful presence, you stand a chance of enrolling for a cover at any time of the year, including during the special enrollment period. You will not have to wait for the open enrollment period.

The above situations are qualifying events. Through these events, you can either acquire a new cover or make changes to your existing plan. This will make sure you and your family are always covered. No life changing event should leave you vulnerable and uncovered.

Top Tips and Tricks for Investing in the Stock Market

Learning tips for investing is important, no matter how much time you are willing to invest. There are countless ways to invest and make money, but if you don't know where to start, it can be difficult to get started.

Investing in the stock market doesn't have to be complicated or intimidating. If you utilize some tried and true techniques, then you too can invest in the stock market and track your investments effectively without stress. 

When you learn some simple and effective tips for investing, then you can invest your own money in the stock market and make money. Here are some of the top tips for investors.

It is Unpredictable

First of all, before you get started, you need to understand that the stock market is very volatile and can unpredictable. You can make mistakes, lose money, and also gain money. That's why you need to know when to buy and when to sell. 

The easiest way to do this is through research. Take a look at the market trends to find out what's happening and then analyze where your investments would be best suited.

Since it can tend to be unpredictable it is good to make sure you do your research for when to invest in certain companies.

Know what a Good Deal is

Before investing in a particular stock market, you should be able to evaluate the situation and determine whether you are getting a good deal or not. Of course, there are many things you need to take into consideration like the type of company that the stock is associated with, what their future prospects are, and how well they are doing financially. 

You also need to make sure that you are purchasing shares of a stock at the right time because it can change dramatically over time.

Keep Track of Your Investments

It's important that you keep track of every penny you invest. This will help you determine if you are making a profit or not. Every penny you invest will have a higher value and that's how you make profit. 

It also helps you determine if you are getting a good deal or not. If you are getting a good deal, then the profits will continue to grow, which is a good sign. For instance, you would want to know the price of gold if you are investing in gold.

Diversify

Another important step to make sure you take is to you are diversifying your investments. The more you diversify, the more you increase the odds of being able to make a good profit. Make sure you have some stocks as well as bonds, and mutual funds as well. 

That way you won't have a financial downfall if one investment loses all its value. Diversification is a must and if you are investing in the stock market, then it should be an integral part of your strategies.

Being Successful

If you follow these tips for investing, then you will never be disappointed. No matter how much time and effort you put into it, you will make money investing.

It is important to remember that the stock market is something that is entirely up to you. You need to be careful not to over-invest and lose money. You don't want to get too wrapped up in a certain business and become completely emotionally attached to it. It is easy to get caught up and buy into a company's hype and get carried away by its financial success.

So when trying to learn the best tips for investing, it is important to remember that a successful investor is one who knows how to read the market and who knows how to manage their money well. They aren't simply relying on luck and good timing to make money. If you are nervous about investing in the stock market you can also start investing in safer options.

A lot of people spend a lot of time and energy trying to invest in the stock market, but they are usually unsuccessful. They end up losing a lot of money and not getting the returns they desire. When you get involved with a certain business, be aware of how they are doing financially.

You should always have some money left over after paying your bills, eating out, or going on vacation. After you have saved enough money, then you can start investing in the stock market.

What Happens Next? 4 Steps to Help Seniors Learn Retirement Strategies

When it's time to retire, you need to prepare for your new life. Otherwise, you may find yourself bored, broke, unhappy, or unhealthy. To make the most of your retirement, it's important to create a plan. Here are four steps to help seniors learn retirement strategies.

Financial Management

Retirement is defined by not working any longer. Since you won't have the income coming in like you used you, you need to really focus on your finances. You need to consider your current financial situation. What debt do you have? 

What assets do you have? Eliminate debt immediately. You should also manage expenses. You want to be comfortable, but you don't want to spend all of your money to be comfortable, either. You also need to plan for the long run. 

Ideally, you'll be healthy and live until one hundred years old. Just make sure you have the money to support yourself for that long.

Another thing that can make retirement planning more complicated is planning for taxes. You can find all sorts of advice on how to account for taxes in retirement, and everyone has a different opinion. Because of that, it could be a good idea to educate yourself about finances before you start your retirement. Talk to a financial planner or take tax planning classes.

Meet People in Your Neighborhood

You can learn a lot just by talking to the people in your retirement home or community. You may choose to stay in your house, live in a neighborhood or community known for housing a lot of older people, or actually move into a senior center. 

Whatever the living situation, you should make friends. You will be able to learn about the people in the area. You'll also learn about the different things to do.

Embrace Hobbies

This is your time to do the things you have always wanted to do. Now that you have this time, you get to have fun with it. You could travel, golf, knit, work on genealogy, cook, or simply spend time with family. 

Whatever your favorite hobbies are, embrace them. You should also meet people in your neighborhood who like to do the same things.

Prioritize Health

As people age, the body deteriorates. It's inevitable. However, you don't have to speed up the process. Focus on eating well, exercising, and taking care of yourself. You can't control every aspect of your health, but you can stack the odds in your favor.

Retirement can be scary, but it's a fun stage of life. Set yourself up for comfort while also setting yourself up to live a long life. After you have all of the details in place, you can go work on that golf swing.

Looking for Scenery? Why Retiring on a Lake Could Be Right for You

Planning for the final step of the American dream is something that everyone should do. You don't want to reach the age of retirement and be at a loss for what you want to do and where you want to go. If you're trying to decide on the right location to spend your retirement years, here are some good reasons that a lake may be the ideal spot for you.

The Blue Effect

Most people come to notice that being by water tends to allow them to relax psychologically. This is known as the blue effect where being in, on, or underwater allows both the brain and body to enter a zen state. 

This effect has been proven to lower blood pressure and reduce anxiety in patients. It also helps to increase the quality of your internal thoughts, which can boost the health of your immune system.

Enjoy New Hobbies

A lake provides the perfect outdoor environment where you can try out some new hobbies. Some of the most popular include fishing, swimming, birdwatching, photography, and hiking. All of those activities that you had trouble finding time for while working are now at your disposal to discover. 

When you enlist the help of someone like those at The Stockton Team: Keller Williams Showcase and other places, you can find the right lake house that has all the hobby opportunities that you could possibly want.

Family Getaway

If you're reaching the age of retirement, it's likely that you have some grandchildren or some on the way. Having a fun spot for your grandkids to enjoy while you get to watch them grow up is a necessity. 

They'll have endless activities to enjoy like kayaking, fishing, hiking, swimming, and boating. A lake also provides the perfect backdrop for family events like picnics and birthday parties.

A Private Community Feel

During your years of retirement, you want to enjoy your own schedule. Privacy at your lake home can provide a relaxing environment for you to spend your later years. 

Plus, many lakes create a community feel. You'll get to know the neighbors that surround the lake and feel as if you're a part of a bigger community.

Retiring at a lake house is the ideal choice for many. It offers so many benefits from a more relaxing lifestyle to a sense of community. If you're considering a move to the lake, we highly recommend that you do so as you'll receive all the benefits above.