Archive - November 10, 2010

1
Should I Buy Life Insurance For My Child?
2
Major Changes Coming to the Coverdell Savings Account
3
4 Things To Do With Your Employer Benefits This Fall
4
5 Tips To Navigating Your Year End Taxes

Should I Buy Life Insurance For My Child?

They are precious, aren’t they?  But unlike the new house you build with proceeds from your homeowner’s insurance, they are also irreplaceable.

So why do so many employer plans offer supplemental life insurance for your children?  It might be a way for the insurance company to make a little more money, but I suspect the root of this particular employee benefit may go a little deeper.    So I did a little digging (can you see I’m missing my garden work these days?)

Turns out, insuring children started way back in Roman times.  Those clever Romans were in the habit of …

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Major Changes Coming to the Coverdell Savings Account

Coverdell education savings accounts have allowed investors to save for their children’s education in a tax favorable account for many years now. Unless Congress takes action many important provisions will expire at the end of this year. Here are some of those changes:

* The contribution limit will change from $2,000/year to $500/year

* Qualified distributions are currently allowed for elementary, secondary, and postsecondary education; in 2011 qualified distributions will only be allowed for postsecondary education

There are other important provisions that will also change if Congress fails to act. (Those other changes are also unfavorable.) The two changes above …

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4 Things To Do With Your Employer Benefits This Fall

Fall is typically the season when many have the opportunity to review their workplace benefits and make changes.

Here are four items to keep in mind as you review your benefit elections and options:

  1. Make sure you have taken major life changes into account. Have you recently married or had a child? You may need to increase your life insurance coverage. Also check that you are covered adequately for disability, especially if your family depends on your earnings. There are no magic rules of thumb to pick the needed amounts, so discuss your situation and needs with your financial advisor.
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5 Tips To Navigating Your Year End Taxes

The fourth quarter of every year is traditionally the time to do a final review of your tax strategy in an effort to keep your tax liability in check.  This year presents some unique challenges.  First, the tax cuts established by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) – known collectively as “the Bush tax cuts” – are set to expire at the end of the year.  Second, it’s an election year, which means that members from all parties are weighing in on what …

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