Daily Archives April 1, 2015

Annuity Transfer – What are the Risks

Annuity Transfer – What are the Risks

by: Amit Laufer

Many people who know in the back of their minds that they got the possibility to transform a monthly payment or annuity long term payments into a big lump sum and by that to relieve some temporarily financial problems, or need to buy a new car or a house or help their children and so forth are tempted to exercise this process into action. Although it is a very natural feeling and sometimes even a real life need or deep inner quest for power and control, it is not in their best financial interest to say the least.
It is no wonder that the U.S federal laws encourage long term payments in both cases like Structured settlements and lottery winnings. There are many good reasons for that and I’m going to spell them out as clear as I can.
– In some countries around the world it is legal to pay for lottery winning in one lump sum. Experience shows many of these people lose most or all of their money in a few years Time, due to the following reasons:
– Ordinary people who get into their possession a very large sum of money don’t really know how to manage their treasure or how to invest it wisely, they are not prepared for it and they are overwhelmed with a delusion of over abundance of wealth, they become totally careless on how and on what they spend their money.
– Even if they invest their money, they go to high risk speculative investments as they try to get high yields. Instead of going for a much solid and safer, “widows & orphans” type of investment portfolio. Neither do they go for the golden middle way in between of a mixed portfolio. They don’t use investments advisers or financial consultants.
– They become over generous with their family and friends, they buy their children homes, cars or any other mater...

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Bush and Kerry Differ on Immigration Policies

Bush and Kerry Differ on Immigration Policies

by: Victor Motak

Up until the final debate at Arizona State University, the issue of immigration had not been much discussed. Both presidential candidates know very well that illegal immigration is a hot button topic in our country, and each man is now trying to use it to his political advantage. Since the eighties the Democratic Party has, in general, supported immigrants and has been for fair and just immigration laws. However, there are those members of the party who claim that the presence of millions of undocumented immigrants undermines the bargaining power of the US born labor force. On the other side, the Republican Party traditionally has been against immigrants, but is increasingly reaching out to the Latino population. Advocates of free markets within the party have flat out called for the opening of the borders.
BUSH ON IMMIGRATION.

Because of his policies, the Mexican border is now more secure.
Proposed temporary guest-worker program, for up to 6 years (originally announced in Jan 2004) but is against amnesty for illegal workers.
Claims that our southern border is more secure now than before 9\11, partly due to his efforts, which include:

More than a thousand additional border control agents since he took office.
Un-manned vehicles patrolling the US-Mexico border.

KERRY ON IMMIGRATION.

Our southern border is now more of a security risk.
Would put illegal immigrants on a path to citizenship.
Proposes a comprehensive immigration reform bill with four major components:

Undocumented workers who have lived and worked in the U.S. for 5 years, pay taxes, and who are successfully screened for security purposes will be given a path to citizenship.
Eliminate the administrative backlog and delay, which ha...

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I Comply, You Comply, We Comply … Are You Sure?

I Comply, You Comply, We Comply … Are You Sure?

by: Robert Neuberger

Failure to follow corporate formalities may expose corporate officers, directors and shareholders to personal liability. Maintaining good records, including corporate minutes, on a timely basis goes a long way toward maintaining the limited liability benefit of a corporation.
If incorporating was your first step to a new and safe way to do business, compliance with the law is the easiest way to keep you safe from any liability associated with they way you manage your company.
There are many reasons to pay attention to the formalities associated with running a corporation: Business corporation laws require articles of incorporation and bylaws and specify other things that must occur.
Articles of incorporation and bylaws form a contract between the corporation and its shareholders, obligating the corporation to act in accordance with the articles and bylaws.
Directors and officers owe the corporation and shareholders a fiduciary duty to use good faith, exercise due care, and act in the best interests of the corporation. Majority shareholders must act in good faith, in a manner not calculated to oppress the rights of minority shareholders.
Corporate formality must be respected and observed to preserve the integrity of the corporation and to shield officers, directors, and shareholders or related businesses from personal liability.
Don’t think that for the fact that you can be the only person holding all the positions of a corporation you are out of keeping your company in compliance. Small companies also have duties with State Agencies, providers and even customers.
Why Are Minutes So Important?
It’s the law. Nothing more clear than that...

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Is Asset Protection Legal?

Is Asset Protection Legal?

by: Floyd Tapia

Perhaps you’ve heard of or seen Hollywood’s portrayal of Swiss Bank accounts, Offshore Trusts and Corporations, and Tax Havens of the rich and famous as jet setting moguls live mysterious yet exciting lives.
But in the real world, although these same financial structures (most administrated by reputable and legal banks), have been around for hundreds of years, there are still many people who consider the above strategic asset protection entities as illegal.
I think we need to look at what they were intended to do. Asset or lawsuit protection laws were designed for the very purpose of protecting your assets from being frozen and the possibility of unjust forfeiture.
Still others consider asset protection a moral dilemma… something unethical or dishonest. This is the furthest thing from the truth.
But, at the same time, I’m not trying to start a moral debate here nor am I recommending nor would any attorney in their right mind advise that you avoid paying a judgment or fine that you rightfully owe.
That being said, I feel you should be in the position to make the final verdict on what is fair and right.
Because when lifetime, incumbent judges and bleeding-heart juries stop handing out ludicrous decisions, then I’ll be the first person to tell you that you’ll no longer need to protect your hard earned assets.
I guess the irony of it is, collection lawyers, government agencies such as the IRS and the FTC, and everyone outside the asset protection circle, make every effort to characterize legal asset protection as dishonest, fraudulent, or worse.
Of course, their motives are transparent...

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When You Need a Personal Injury Attorney…

When You Need a Personal Injury Attorney…

by: Peter Peckham

We’ve all seen the ads for a personal injury attorney on television, on billboards and in newspapers, but when should we consider consulting personal injury lawyers? A personal injury claim can be made when a person suffers an injury through the negligence of another person. Negligence is when a person’s actions are deemed to place another person in unreasonable risk. If this negligence leads to an accident then there is a case for a personal injury lawsuit.
Types of Personal Injury.
Personal injuries can be almost anything that leads to an injury. Whether this is a car accident caused by another driver, or whether you slip and fall while shopping or even at work these are all probably causes for personal injury claims. Tripping over badly laid paving slabs may lead to a successful personal injury claim. Dog bites, asbestos illnesses, a crash while on public transport or any accident that leads to bodily injury may mean you are entitled to claim. A personal injury attorney will be able to advise you whether you have a case or not.
The extent of your claim usually depends on the seriousness of your injury. You are entitled to claim for loss of earnings as well as compensation for bodily injuries and emotional distress. In some cases, for instance asbestos illnesses, your family is entitled to claim on your behalf.
What to do next.
If you have been involved in an accident, the first thing you should do is contact a personal injury attorney; they will be able to advise you whether you have a right to a personal injury claim or not. These consultations are usually free and quite often a personal injury attorney will not take any money unless they win the claim.
The pain and suffering caused by many accidents ...

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