Uncertainties Are Part of Estate Planning

Uncertainty overshadows the entire estate planning process including the changing tax laws and the value of your estate when you die. To combat uncertainties when developing an estate plan, you should realize that an estate plan is not a one-time endeavor. Rather, it is a plan that should be flexible to accommodate both lifestyle and law changes. For more on building flexibility into an estate plan, read this Financial Strategy.

Investing in Gold

Is gold a good investment during these current economic times? While it does have some benefits, The Henssler Financial Group generally advises against investing in it, as there are more efficient alternatives. For more information about the pros and cons of investing in gold, and for some alternative investment options, read this Investment Whys.

Consumer Protection Laws—Fair Credit Reporting Act

In order to protect the confidentiality, accuracy and relevance of credit information, Credit Reporting Agencies, or CRAs, are required to follow reasonable procedures as mandated by Congress and the courts. Although there are limits on the use of credit reports, there are certain purposes in which it can be used. For more on consumer protection laws and to learn about some permissible uses of your credit report, read this Financial Strategy.

Custodial Account—Uniform Gift/Transfer to Minors Act

For a minor to own investments in his or her own name, a custodial account must be used. A custodial account is established through the Uniform Gift/Transfer to Minors Act and allows a custodian to control a savings account until the child reaches the age of majority, when the account becomes the sole possession of the child. For more information about custodial accounts and to learn about some the advantages and disadvantages, read this Financial Strategy.

“We Have Moved”—Did You Tell the IRS?

In the event that you move, you are required to inform the IRS of your new address and contact information so that they can update it in their files. If you fail to do so, any vital information regarding your taxes that is sent to your "last known address" is legally effective, even if you never received it. For more information about the steps to take to keep your information up-to-date with the IRS, read this C.P.A Insight.

"We Have Moved"—Did You Tell the IRS?

In the event that you move, you are required to inform the IRS of your new address and contact information so that they can update it in their files. If you fail to do so, any vital information regarding your taxes that is sent to your "last known address" is legally effective, even if you never received it. For more information about the steps to take to keep your information up-to-date with the IRS, read this C.P.A Insight.

Disability Insurance for Professionals

Statistics show that an individual is much more likely to become disabled in their earning years rather than suffer death; however, many professionals are still surprised to learn that disability insurance is more important than life insurance. For more information on disability insurance for professionals, types of policies, and to learn which policy may prove to work best for your needs, read this Insurance Know-How.

New Year’s Resolutions that Save You Money

New Year’s Resolutions not only give you goals to aim for throughout the year, but they can also save you money in the process. By spending more time with family and friends, living a healthier life and helping others, your chances of living a more enjoyable life are increased. For more information about some of the most common New Year’s Resolutions and a little financial insight regarding them, read this C.P.A Insight.