Living Trusts: Frequently Asked Questions
Often considered a cost-effective alternative to a will, a trust can help you avoid probate court and give you peace of mind that your assets will be handled properly when you die or if you become incapacitated. Every trust is created while you’re alive, except for what’s called a testamentary trust, which is made after your death per a request in your will.
Here is a brief overview of frequently asked questions about trusts and if it’s right for you:
What is a trust?
A trust is a written agreement made by you that describes who will manage the assets in it after you die or become incapacitated (unable to make decisions for yourself). There
2012 IRS Maximum 401K Contribution Increase Announced
The IRS 2012 401K maximum was officially announced, and theres an increase in the contribution limit! Finally, some good financial news! Without further ado
The Maximum 401K Contribution in 2012 is
$17,000! Thats right, we finally got an increase for the first time in 4 years from the IRS.
The 2009, 2010, and 2011 maximum 401K contribution limits had all been stuck at $16,500. A 3% increase isnt much, but Ill take it. The last increase was when 2009′s 401K maximum had increased $1,000 over 2008′s $15,500 maximum.
403B and 457B plans will receive the same bump in limits in 2012.
The maximum 401K catch-up contribution per year for those over 50 years old, however, stays the same at $5,500 over the standard contribution limit in 2012.
The History of 401K Maximum Contributions
Believe it or not, the maximum contribution level has increased in all but six years going back to it’s beginning in 1987 (75% of the time). Three of
Ryanair launches ‘Cash Passport’ card to deliver huge savings
Ryanair has launched its Ryanair Cash Passport card in the UK and confirmed that all card holders are fully protected and will enjoy huge savings every time they use the card to purchase Ryanair flights. This new card will allow all holders to avoid Ryanair’s £6 administration fee every time they fly Ryanair. This card costs £6 to obtain (through Ryanair.com), but this fee is reimbursed by Ryanair with a £6 flight voucher.
Ryanair corrected the untrue claim made by the UK’s Financial Services Compensation Scheme (FSCS) who wrongly claimed that Ryanair Cash Passport card holders would lose their money in the highly unlikely event that Mastercard’s card issuer goes bust. In such
Honeymoon Registries – Brilliant or Tacky?
In the past few years, honeymoon registries have become more and more popular. The wedding registry has been historically a way for guests to send off the newly-married couple with items to set up their household. But with more couples living together before marriage, some would rather their guests send them to China than give them a set of china.
In a honeymoon registry, the bride and groom can list what activities or travel components they’d like to have paid for (hotel stays, romantic dinners for two, flights to the destination, etc.) and guests can contribute money for the couple to spend on these activities. Although some registries run by specific travel agencies or resorts allow guests to directly purchase a package or a room, most honeymoon registries are essentially cash registries.
The guest gives the bride and groom cash (perhaps with a nice note on what it’s intended for), with the understanding that this cash gift will go towards an experience listed on the registry. A s