One of the most common questions I am asked when meeting with a client to discuss estate planning is whether or not the estate plan will offer protection from creditors.
Years ago, I happened to be in the warehouse of the company where I worked. As the president of the company walked from his office to the offices on the other side of the building, I observed a low-level employee approach the president, and ask him if he could get a paycheck instead of taking the week's vacation he was scheduled to start in a couple of weeks. The employee said he needed the money more than he wanted the time off.
You have worked hard all your life to build your retirement assets. And, you want those assets to work hard for you throughout your working career and your retirement years, and then for your family and heirs after that. IRAs are wonderful products, with lots of benefits and flexibility, but those benefits come with certain rules and regulations you need to keep in mind.
Ask yourself: Are you paddling or floating your canoe down the river of your business life? If you're floating, then you're on the defense. If you're paddling, then you're on the offense.
What happens if you have faithfully paid all of your court-ordered child or spousal support but many years after the fact, your ex brings you back to court claiming you paid nothing at all?
I have been preparing a lot of retirement plans lately for clients. It seems that those who have been coming in for this service are the ones who have adequately prepared financially for their retirement years.
Times may be tough, but the people who are in sales for a living will tell anyone who is listening, "Times are GREAT!" but what they say on the inside and really want to say out loud is, "It sure is tough out there!"
Retirement should be a reward for a life of planning, sacrificing and saving.
It seems that I'm "banging the drum" a lot about entrepreneurs working from home at their own business, but with the high cost of gas, high food prices and high employee layoffs, it just makes sense.
One of the most common mistakes investors make in dealing with their IRAs is to name or change a beneficiary. In this changing world and with our fast-paced lives, many people overlook the important feature of passing on one of your most important assets. The IRA beneficiary designation form serves as an important estate planning document.
In today's housing market, many people are upside-down with their mortgages. Not to mention, many homeowners have an adjustable rate mortgage that has the payment skyrocketing.
Fire season: Are you prepared in the event of a disaster?
After 90 days or so on a new job, I pointedly asked my not-so-new boss, "I've been here for just about three months, how am I doing?"
To be a successful entrepreneur you must have patience, perseverance, honesty, fidelity and the personality of a self-starter. There are many who have fine staying qualities, but poor starting qualities.
In California, where spouses are concerned, property rights are determined by looking at the basic principle of "yours, mine and ours" - what's yours is yours, and what's mine is mine (separate property).
Books like "Built to Last," "The Breakthrough Company," and "Good to Great" were written to help business people improve the companies they own, lead and run.
The housing market in the Santa Clarita Valley started the New Year tentatively, yet encouraging news abounds as the traditional Spring home buying season approaches.
If you wonder why your sales people aren't more productive, aren't making enough presentations and are slow to close deals, it might not be the industry you are in, your location or the economy not cooperating.
According to the recent news release from the Bureau of Labor Statistics the US economy added 113,000 jobs in January 2014 and, "…job gains occurred in construction, manufacturing, wholesale trade, and mining…Employment in manufacturing increased in January (+21,000)…Manufacturing added an average of 7,000 jobs per month in 2013."
Years ago a major manufacturer hired a research firm to conduct a survey of the cultural climate of the company.
Under the federal Ability-to-Repay rules that went into effect Jan. 10, lenders received guidelines on the type of financial information homebuyers must provide lenders when seeking a loan.
Research suggests that employees do not leave because of the company they work for, but they quit because of their manager.
What is our fascination with forecasts? Are they really helpful and how can we use them for planning purposes?
At the end of the first month of the year, are your objectives for 2014 being met? Have the results versus your goals left a gap? Are you worried that what happened or what didn't happen in January can spread to February? Or March?
In May, 1976 I had just finished what I first thought was my junior year of college. When I put a pencil to things, I discovered I was not 12 months away from graduation, but closer to two years.
When you think of California do words like innovative, leading-edge and trendy come to mind? A place where new ideas first take root before they become woven into the very fabric of the national culture and industrial base before becoming recognized around the world as being uniquely "American". If so, you may be surprised to learn that in one area, the critical business process of selecting and hiring new employees, California is lagging behind the rest of the country.
I recently conversed with the owner of a profitable company. She was interested in addressing some issues so she could return her attention to growing the business.