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Posts tagged with: cash

4 Ways to Prepare for Your Own Passing

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Thinking about death can be a difficult task for a majority of people, and this is even more the case when it’s about themselves. That said, it’s a good idea to not only think about it and get comfortable with it, but to also make advance planning for it. This can save your loved ones a lot of hassle if something happens to you at a time when you least expect it. If you die without a will, which is known as dying intestate, you may leave a lot of issues in your wake, and outlined below are four of the ways in which you can prepare for your own passing.

1. Keep Important Documentation in One Place

First off, gather all your important documents so that they’re all in the same place. This will make it easy for you to retrieve them when you need to prepare an estate plan or write a will. These documents include evidence of any businesses that you may have, title deeds, and more. No matter how much land you own in a place like Florida, which has a surface area of 65,755 square miles, there should be some evidence of where it is and how large it is if you want to exercise your legal rights over it. As such, take time to find any documents that you may need so that it’s easier to protect it from possible issues down the road.

2. Appoint a Power of Attorney

The next thing that you need to do is to think about appointing a power of attorney. This is a legal document that gives a third party the authority to make decisions on your behalf. If you like, you can appoint one for healthcare decisions or financial matters, or simply appoint one for both. This way, should you unexpectedly become incapacitated and unable to make decisions for yourself, you can be sure that there’s someone reliable who can help you get your wants executed. Given the amount of power this person will have, it’s important to make sure that you trust them fully.

3. Consider Setting Up a Living Trust

It’s also a great idea for you to set up a living trust. This is a legal document that allows you to transfer your money and assets to your beneficiaries without putting them through the process of probate. Probate can be quite costly and lengthy, so it’s a great idea to avoid it whenever you can by putting a living trust in place. There are two types of living trusts that you can set up, and one is a revocable trust while the other one is an irrevocable trust. Consult with an attorney so that you can find out the right living trust to set up so that you do it right and avoid the complexity of the process.

4. Think Who Your Beneficiaries Will Be

Finally, and perhaps most importantly, you need to identify your beneficiaries. Keep in mind that you may need to update this list as events change. This is because your beneficiaries could be your own family or a charity of your choosing.

The second option can offer your estate tax benefits, and working with a lawyer will help you understand the best way to go about doing this. You may also need to set aside money or buy insurance to make sure that your family is taken proper care of in case of something like a health issue. For instance, adults aged above 35 years lose more teeth to periodontal or gum diseases than they do from cavities, so you may have to put a good health plan in place to offset such issues should they arise.

In these four ways, you can make preparations for your own passing. As a result, you may save your family a lot of hassle and take care of them long after you’re no longer able to do so. Think about them, and remember that the hardest part is taking the initial step, after which things should fall into place.

Should You Buy a Foreign Car?

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Are you wondering if you should buy a foreign car? Perhaps you are looking for an SUV for your family or your business. We want you to make a great decision. That’s why we have put together this blog post to help you. We understand that searching for the perfect car can be really stressful, especially if you are buying it for the very first time. What makes it more challenging is the fact that today there are many cars out there. When looking to buy a vehicle, you shouldn’t just buy any other foreign car, you should buy the one that checks off all the boxes. According to Finances Online, local queries make up nearly half of Google’s two trillion yearly searches. Read on to learn more before you begin your online search for a car.

Countries

Cars typically differ from one country. For instance, a car from Japan, or Korea would have certain specs that you won’t find from European cars. There is also a vast difference in terms of size and performance. The first hydrocarbon pipelines in recorded history were in China in 500 BC and were made of bamboo. With such a lengthy history of ingenious construction, it makes sense that an Asian car model could be the right car for you.

In contrast, in Japan, you are likely to find affordable small cars with fuel-efficient engines. Japanese cars are still renowned for being reliable, and most of them rarely break. So before you buy a foreign car you need to know exactly what you are looking for. Is it comfort or reliability? Or are you looking for a high-performing car that won’t break down easily? Once you make this crucial decision it becomes fairly easy to decide what kind of car you need.

Luxury

Then you should definitely go for German cars. That doesn’t mean brands such as Kia and Hyundai don’t make good cars. They do. Today many entry-level cars offer the same comfort you will usually find from a luxury car. According to Broadly, there are over 280,000 automotive repair companies in the U.S., and many of these technicians know how to work on U.S.-made cars.

That being said, a luxury car is called a luxury car for a good reason. First, it is the kind of car you want to drive to make a bold statement. And for that, you would go for a BMW, a Porsche, an Audi, or even a Lambo, not a Hyundai or a Toyota. You will find that most luxury cars tend to come from European countries such as Germany. Those pack more punch, are faster on the road, and they are built to impress.

Cost

If you are the type of driver who prefers to spend less on fuel, then you definitely can’t choose a car with a bigger engine. The best option for you would be to buy a Japanese or Korean car. Hyundai, Toyota, and Suzuki are some of the brands that are cost-efficient. Even if such a vehicle breaks down, you would worry much about it.

Some American car manufacturers import parts overseas. Those parts are either affordable or expensive, depending on which company is manufacturing them. So when a car breaks down you are likely to pay more. In comparison, American cars would typically cost you less to fix and replace parts because it’s cheaper to replace parts.

Environment

Lastly, before you buy a foreign car, always consider weather conditions. Some cars were built for snow and rainy conditions. Whereas certain cars cannot handle that kind of weather condition. Sometimes you will find the car you are about to buy is front-wheel drive, due to that it can navigate slippery roads like a four-wheel drive can.

You wouldn’t just go for a foreign one without weighing the benefits. Sometimes you may have to spend some time researching foreign car manufacturers from other countries to identify their manufacturing quality. Something easier said than done. Why? Because weighing options is time-consuming, and who has the time to go through the specs of every foreign? No one. Here are some of the things you should consider before buying a foreign car.