This is a tough one!!  I am looking to find a spot for a client to leave his concession truck...he will haul it by trailer to leave at a place that has a lot of exposure or traffic. Must have 220 electrical hook up and water.  He will pay rent and would like it to be open full time.  This comes fully stocked with a grille, refrigerator, freezer...can accommodate lunches and breakfast.  If anyone knows any property managers or people who make decisions at industrial parks...this could be a good lead.  

I have a friend looking to connect with a medical assistant for an informational interview! Please message me if you know of one who would be willing to help.  

In this segment Frank recaps the Real Estate Market for the week ending 12/2. Frank also offers the final 5 Quick and Easy Home Sale Tips. If you would like to receive Frank's Top Quick and Easy home sales tips please email him at Frank@themeanrdteam.com 

http://friendsofkevin.com/friendsofkevinradiomenardteam122

Next week (December 4 & 5 ) there is a fundraising opportunity connected to The Salvation Army Radiothon.  Between the hours of 2 PM & 3 PM on 980 WCAP the host, Nancy Greenwood, will donate $10 for every caller to her program who has a Christmas Greeting. Could help us "break the bank" by calling in a Merry Christmas Greeting. 
The phone number to call is ... 978-454-4980

In the spirit of giving this holiday season, The Bridal Center, located in Andover, MA will be making one military couple’s wedding dreams come true. They are inviting all engaged military couples to send  a one minute video blog with their story. The Bridal Center will determine the top 3 finalists, and their videos will be posted on their YouTube page. The couple that receives the most video likes will win the grand prize which is valued right now at $14,600 and still growing.   Please go to www.thebridalcenter.com for contest details.

What’s the difference?  I’m all set!

Two common misunderstanding when it comes to beneficiaries.

Now that the holiday season is in full swing, we can look forward to seeing family and friends.  Sharing festive meals together.  Decorating and enjoying each others’ company.  And seeing the smiles on people’s faces when they get that perfect gift from you.  It’s a great time of year.

With all of this activity, it’s a great time to review your beneficiaries on all of your accounts and insurance policies.

I’m all set. Besides, it’s supposed to be a happy time of year, not a time to talk about death.

True.  But this is the season of giving.  Many clients I work with don’t want to leave a large inheritance for their beneficiaries, but they don’t want to leave headaches and a pile of bills either.  They would rather gift peace of mind.

One common misunderstanding is leaving money to the estate versus naming beneficiaries.

I was working with a client recently who just got divorced.  Understandably, she wanted to take her ex-husband off as a beneficiary of her life insurance policy and keep her 3 adult children on as beneficiaries.

Her initial thought was the designate her estate as the beneficiary.  After all, her only direct heirs would be her 3 children.

So what’s the difference?

If she names her 3 children as beneficiaries, then upon her death, money will be distributed from the life insurance to the children.  In this case, each would have received 1/3.

But if she simply left the policy to the estate, the money would still be paid.  But it would be used to pay off any debts of the estate first – credit cards, auto loans, mortgage, etc.  Then the estate has to go through probate – which can take months even in the simplest cases.

The kids would eventually money, but likely a lot less than what their mom had intended and after a substantial wait.

Certain types of accounts pass by contract at death.  Life insurance, annuities, IRAs, and 401(k)s are examples.

A second common misunderstanding is not understanding the difference between per capita and per stirpes.

Best way to illustrate the difference is with an example.  In the case of this divorced woman, only one of her children is married and has children.

Under expected circumstances, each child would benefit as follows:

Child A – One third

Child B – One third

Child C – One third

What happens if child A dies before the mom?

Under a per capita scenario, the following would happen:

Child A – deceased

Child B – Half

Child C – Half

Under a per stirpes scenario, the following would happen:

Child A – deceased

Child A’s beneficiaries – One third

Child B – One third

Child C – One third

Can you see the problems with both of these scenarios?  One will leave out possible heirs – grandkids, spouses.  Another might leave money to minor children or to an in-law spouse that you’re not fond of.

Beneficiary planning isn’t just putting a name down on a form.  There are a lot of pitfalls to watch out for.

Ultimately, the question is:  What do YOU want to have happen?  Properly designating beneficiaries goes a long way to making sure what you want to have happen actually happens.

When was the last time you had a beneficiary review?  Take some time around this holiday season.  In between the meals, shopping, and cider, think about what you want to have happen.

Let's visit! Use this link to schedule a time with me:  http://doodle.com/merjfinancial

T. Jack Wang
M.E.R.J. Financial Group 
voice - 877-226-4157

fax - 877-226-4157
Email: jack@merjfinancial.com

LinkedIn:  http://www.linkedin.com/in/thejackwang

Facebook: http://www.facebook.com/thejackwang

Blog: http://merjfinancial.blogspot.com/