The decedent may have left written funeral, cremation, burial, or memorial instructions, in addition to a personal property memorandum. All original documents should be stored in a safe place until they can be given to the trust attorney. The decedent’s other important papers will include information about the decedent’s assets, including bank and brokerage statements, stock and bond certificates, life insurance policies, corporate records, car and boat titles, and deeds for real estate....

Even if no one has died, you can collect a Social Security spousal benefit based on your current or former spouse’s benefits. This amount will be equal to half of what your spouse gets if that’s higher than what you’d get on your own. Here’s what you need to know about getting this income when you retire. Who Can Get a Spousal Benefit? Current spouses and ex-spouses can both get the spousal benefit....

Sole Proprietorship A single owner of an unincorporated business essentially operates the business as an extension of herself. For tax purposes, the profits and losses of the business flow through to the owner’s tax return. In other words, business profits are reported as earned income for the individual owner of the business. Liabilities of the business also flow through to the owner. For example, if someone slips and falls on the business premises, the company damages a customer’s property, or the company is unable to pay its debts, an individual or corporation can levy successful claims against the sole proprietorship—that is, the owner....

Sovereign debt is the sum of the government’s annual deficits. Over time, it reveals how much more a government spends than it receives in revenue. Nations finance their debt through securities, such as U.S. Treasury notes. These securities have terms up to to 30 years. The country pays interest rates to give buyers a return on their investment. If investors believe they’ll be paid back, they don’t demand high-interest rates....

Definition of the Standard of Living The standard of living is different from other measures of quality of life. These often include non-material characteristics, such as relationships, freedom, and satisfaction. Indices that attempt to measure quality of life also include the material standard of living measurement. Standard of living is narrowly focused on the value of goods and services produced and consumed. How the Standard of Living Is Measured The generally accepted measure of the standard of living is GDP per capita....

For example, a day trader who has a packed schedule and wants to act fast may feel they cannot afford to spend time studying books. However, a trader who intends to develop an intricate long-term strategy may find that brief classes and one-time seminars lack depth. Another factor that can come into play is the cost of education. Free curriculum might serve as an introduction to trading, but there are also resources that require payments to gain access to the most detailed information....

Besides interest rates and the short- and long-term costs of a new home loan, also think about the cash-out refinance tax implications. Learn if cash-out refinances are considered taxable income, how you can get a tax deduction for one, and more. Does a Cash-Out Refinance Create Taxable Income? There are some cases in which getting an infusion of cash is counted as taxable income, such as taking a withdrawal from an IRA or cashing in bonds....

Independent Contractor or Employee? Your work status affects how you calculate and pay your taxes, so the Internal Revenue Service (IRS) wants to know whether you’re an independent contractor or an employee. You are most likely, but not always, an independent contractor when you work for a ridesharing company. The IRS looks at several factors when deciding on your work status. Three factors, in particular, can help you determine whether you’re an employee or an independent contractor....

What Is the 100 Minus Age Rule? This rule says that you should subtract your age from 100. The result is the percentage of your assets you should put to stocks, also referred to as “equities.” You thus would have a 60% allocation to stocks at age 40. You would reduce that to 35% by age 65 in what is referred to as a “declining equity glide path.” Problems With This Rule This rule assumes that financial planning is the same for everyone....

Contributors to the Recession: Y2K Scare and 9/11 Attack The Y2K scare (also known as the Year 2000 scare) may have contributed to the 2001 recession. Computer users and programmers feared that computers would stop working on Dec. 31, 1999. Since many computer codes represented a given year with the last two digits, they believed that these codes would not be able to distinguish between 2000 and 1900. Based on the belief that their computers would stop working when the year 2000 arrived, many companies and individuals bought new ones with software that was supposed to be Y2K compliant....

Equity funds are stocks or their equivalents. Fixed income funds are government treasuries or corporate bonds. Money market funds are short-term investments in high-quality debt instruments from the government, banks, or corporations, such as corporate AAA bonds. 1. Equity Funds Stock funds are also called “equity funds.” They’re the most volatile, and their value can rise and fall sharply over a short time. These funds invest in publicly traded rather than privately owned companies....

There are five basic ratios for stock market analysis. The data you can glean from them will give you an edge, compared to others who don’t take the time to look at these figures. What’s a Ratio? Using a ratio means taking one number from a company’s financial statements and dividing it by another. The result allows you to measure the relationship between numbers. Knowing that a share price is $2....

A new report from The Wall Street Journal has investors increasingly nervous that the Fed will hit us with another jumbo rate hike next month to the tune of 75 basis points. Markets are now pricing in a more than 90% chance the Fed will raise rates by 75 basis points, according to fed fund futures data. What does a 75-basis point hike mean for you anyway? While we know higher interest rates will send mortgage rates, credit card rates, and other loan rates higher, more aggressive rate hikes will send those rates soaring faster....

Besides saving trips to the branch, you can make payments online, view account balances, move money between accounts, and much more. You can bank online with your existing bank, or even open a new account with an online-only bank. Banking Online With Your Current Bank or Credit Union If you already have a bank account, you’re halfway there. Almost every bank or credit union offers online services. At a minimum, it’s a good idea to sign up with your bank’s app or website, and it might also be worth looking into online-only banks....

Here is a look at Vietnam’s changing economy. Learn how you can gain exposure as well as some benefits and risks to keep in mind. Vietnam’s Changing Economy Vietnam’s economy began as a largely agricultural feudal system until French colonization in the mid-19th century. The country’s regions developed very different economies. Then, they became further politically divided in 1954. The north of the country adopted communism. The south adopted capitalism....

From furnishing your new digs and new monthly bills, to maintenance, repairs, and upgrades of major home systems and appliances, you want to make sure that you’ll be able to afford these extra homeowner expenses and enjoy this new phase of life. “People prepare for the down payment, and they think about closing costs, but they forget that they still need to live life after they move into their home,” Patrice Washington, author and host of “Redefining Wealth” podcast, told The Balance during an Instagram Live interview on Feb....

Of course, someone has to pay those taxes that become state and local revenue. For homeowners, property taxes can become a major expense, but the tax burden isn’t the same everywhere. Let’s look at how these tax rates break down. The Highest Property Taxes by County While it can help to consider state averages, property taxes are typically set at the county level. Therefore, looking at specific counties will give you a better sense of how high property taxes can actually get....

Investor pessimism causes an increased sell-off of stocks, which reinforces the downward direction of the market. What Drives a Bear Market? A sustained decline in stock prices can happen for any number of reasons, such as investors panicking over economic news including: An unexpected or catastrophic event Declining corporate profits A correction from a previous bubble of stock overvaluation A financial crisis in one industry impacting other interdependent industries The anxious foreboding of investors with a herd mentality...

Positives of Limited Liability Limited personal liability is one of the most common reasons businesses become corporations. A corporation is a distinct legal entity, so incorporating protects the business owner’s personal assets, even if the corporation is in debt or facing other liabilities. Registration Provides a Tax Benefit Owners of corporations are only taxed on their own salary and bonuses, but you will also need to know how dividends are taxed....

Say the wrong things when you quit, and no one will remember that you gave the appropriate amount of notice, helped train your replacement, and left instructions to help the team cover your departure. All they’ll remember is that you made them feel worse about working for the company you’re leaving behind. Not exactly helpful, the next time you’re looking for a LinkedIn recommendation or a job referral. It can be tempting to lash out at an employer after you have resigned, especially if you believe that you have been mistreated or underappreciated....