- What Is Holistic Financial Planning?
Working with a financial advisor can help you craft a plan for paying down debt, saving and investing to build wealth. But financial advisors aren’t all alike when it comes to the approach they take for offering advice. Advisors that… read more…
- COVID-19 Second Stimulus Bill Unemployment Provisions
In late December, President Donald Trump signed a bill sent to him by the U.S. Congress creating a $900 billion stimulus package to deal with the economic fallout from the COVID-19 pandemic and accompanying economic downturn. This is the second stimulus bill passed in response to COVID-19, following the Coronavirus Aid, Relief and Economic Security… read more…
- Am I Responsible for My Deceased Spouse’s Debt?
The death of a spouse can be emotionally and mentally trying on many levels. There may also be financial stress if a spouse leaves behind credit card debt, outstanding loans or other monetary obligations. You may be wondering: Am I… read more…
- Can I Inherit a Home While Receiving SSI?
If you’re receiving Supplemental Security Income (SSI) payments, you might be wondering, “Can a person on SSI inherit a house?” Ordinarily, inheriting a home is a financial windfall. But for someone receiving SSI payments, it can present a problem, and potentially be a serious financial drawback. This is due to the fact that there is… read more…
- How a Prenuptial Agreement in Texas Works
Texas is a community property state, which means that all assets and property either partner in a marriage acquires during the marriage is jointly owned by both spouses. Anything a partner brings to the marriage is generally considered separate property… read more…
- Are Your Financial Advisor Fees Tax-Deductible?
Working with a financial advisor can help you shape your financial plan when it comes to things like budgeting, saving, investing and retirement planning. Just like with any other service, you’ll have to pay fees for a financial advisor. One… read more…
- A Guide to Financial Advisor Debt Counseling
Credit cards, student loans and other types of debt can be a hurdle to reaching your long-term financial goals. If managing your finances on your own is getting overwhelming, you might seek out a financial advisor for debt help. While… read more…
- Second Stimulus Bill: Paycheck Protection Plan Loans
Following President Trump’s signing of the second coronavirus stimulus bill into law on Sunday evening, December 27, small businesses around the country may have another chance to apply for forgivable loans through the Paycheck Protection Program. This program began with the first coronavirus stimulus package, passed in March 2020. It allows companies who have been… read more…
- How to Build a Family Financial Plan
Family financial planning can help you create a comprehensive strategy for managing your money as you move through different life stages. It starts with the basics – setting up a budget, paying down debt and saving – but a family… read more…
- Will My Inheritance Affect My SSI Benefits?
If you receive an inheritance while you are getting federal Supplemental Security Income (SSI) benefits, it could make you ineligible to receive any more benefits. Federal law requires you to report to the Social Security Administration if you are the… read more…
- Is an Inheritance Considered Marital Property?
Assets inherited by one partner in a marriage can be considered separate and owned only by that partner. However, inheritances can be ruled as marital property jointly owned by both partners and, therefore, subject to division along more or less… read more…
- A Guide to Selling Inherited Property
Inheriting valuable property such as a home, securities, bank accounts and retirement accounts from a deceased relative can be a major financial windfall. But converting inherited property such as a home into cash by selling it may require following a… read more…
- What to Do When You Inherit a House
Inheriting a residential property like a house marks the end of a life and the beginning of deciding what to do with the property and implementing that plan. The considerations in handling a house inheritance include taxes, financial issues like… read more…
- Understanding How to Buy Commercial Real Estate
Buying commercial real estate can diversify an investment portfolio and provide potentially greater returns than residential properties. Commercial buildings, including office, retail, warehouse and industrial factories, commonly carry higher prices and require more ongoing costs to manage than residential properties.… read more…
- Second Stimulus Package for COVID-19
On Sunday evening, December 27, President Trump signed into law the $900 billion second stimulus package for COVID-19 relief that will provide $600 checks to individuals, $300 in enhanced unemployment checks some $284 billion in Paycheck Protection Program (PPP loans) for small business relief and additional funding for schools, small businesses and vaccine distribution. Given… read more…
- Second Stimulus Checks: When You’ll Get Them, and How to Track Them
Eight million Americans could still qualify for first and second rounds of stimulus checks and may have not yet received their money. President Joe Biden signed an executive order on January 22 that tasks the Treasury Department with getting relief to millions of eligible recipients who did not get financial assistance. If you expected a stimulus… read more…
- Where Small Business Sentiment Is More Positive for 2021
The Census Bureau’s Small Business Pulse Survey shows that during the first week of December 2020, business expectations were depressed nationwide. While less than 2% of small businesses have closed during COVID-19, 52.9% of small businesses nationally expect they won’t return to normal levels of operation for at least six months or ever. Though that… read more…
- Fiduciary Deed: Definition, Examples and More
Fiduciary deeds are just one of several types of deeds used in property transfers. This type is used to transfer property such as real estate when the owner can’t sign a deed for legal or other reasons. Fiduciary deeds are… read more…
- What Holiday Gifts Do Financial Advisors Send to Clients? – 2020 Study
The holiday season is a time when many professionals send gifts and cards to their clients to thank them for their business and support. Within the financial advisory and planning industry, these gifts often foster stronger advisor-client relationships. They serve as tokens of appreciation for clients’ continued trust and confidence in their investment strategies and… read more…
- What Does a Financial Aid Advisor Do?
Requesting financial aid often feels like it requires a mile-high stack of paperwork and just getting the right type of aid can be confusing. A financial aid advisor can help students and their families navigate the complicated financial aid process… read more…
- Guide to the Proposed DOL Fiduciary Rule
Retirement savers and participants in 401(k) plans may soon face a new Department of Labor (DOL) policy, presenting them with either more investment options or just unnecessary costs, depending on one’s perspective. In December 2020 the DOL issued its final rule… read more…
- Understanding FINRA Rule 2111: Suitability
Financial professionals who recommend clients buy a security or financial product are held to ethical standards that can be enforced by law. One such standard is known as the suitability rule, which is described in Rule 2111 of the Financial… read more…
- Is the Santa Claus Rally Real? – 2020 Study
The U.S. stock market hit record highs leading up to Thanksgiving in 2020. Two days before the holiday this year, the Dow Jones and S&P 500 indexes broke 30,000 and 3,600 points, respectively. While some stock analysts and investors are concerned that these prices belie a frothy market soon set to pop, others speculate that… read more…
- Fiduciary Duty vs. Suitability Standards
Two key terms that retail investors are likely to run across when looking for an investment expert are “fiduciary” and “suitability.” The terms describe the standard of care and behavior that investment professionals are expected to follow when dealing with investors. Investment experts who follow the fiduciary standard are required to put their clients’ interests ahead… read more…
- How to Minimize Your Self-Employment Taxes
The self-employment (SE) tax is the equivalent of the tax regular employees and their employers pay. It’s the way self-employed people, freelancers and independent contractors contribute to the Social Security and Medicare funds. With a tax rate of 15.3% applying to… read more…