Mark Henricks has reported on personal finance, investing, retirement, entrepreneurship and other topics for more than 30 years. His freelance byline has appeared on CNBC.com and in The Wall Street Journal, The New York Times, The Washington Post, Kiplinger’s Personal Finance and other leading publications. Mark has written books including, “Not Just A Living: The Complete Guide to Creating a Business That Gives You A Life.” His favorite reporting is the kind that helps ordinary people increase their personal wealth and life satisfaction. A graduate of the University of Texas journalism program, he lives in Austin, Texas. In his spare time he enjoys reading, volunteering, performing in an acoustic music duo, whitewater kayaking, wilderness backpacking and competing in triathlons.
While ordinarily inheriting a home is a financial windfall, for someone receiving Supplemental Security Income (SSI) payments it can present a problem and potentially a serious financial negative. This is due to the fact that there is a cap on the financial resources SSI recipients can have. Inheriting a home can easily put an SSI recipient over that limit. That may mean an end to getting payments from SSI. However, there are ways around this that can allow an SSI recipient to inherit a home and still qualify for benefits. Keep in mind that a financial advisor can help you sort through your options as you decide how to handle a residential inheritance. Read more
When a marriage ends in divorce in Florida, assets are likely to be divided approximately 50-50 according to the prevailing practice of equitable distribution. Florida couples wanting a more active role in deciding how marital property will be divided in the event of divorce can use a prenuptial agreement to give their wishes force. Prenuptial agreements can also describe how matters will go in the event of separation or the death of one of the partners and can cover alimony as well as the division of debts and other matters. Consider enlisting the services of a trusted financial advisor to help you create a prenup that best fits your needs. Read more
Texas is a community property state, which means that all assets and property either partner in a marriage acquires during the marriage is jointly owned by both spouses. Anything a partner brings to the marriage is generally considered separate property as long as the assets are not commingled. A prenuptial agreement – called a premarital agreement in Texas law – is a legal document used to manage these potential issues by keeping as separate property what would otherwise be jointly owned or, in some cases, vice versa. Read more
The 8(a) Business Development program is a Small Business Administration initiative designed to level the federal government contracting playing field for small business owners who are socially and… Read more
One of the most important decisions when starting a business is the business structure. The choice of business entity significantly affects matters like liability, taxes, control, financing and… Read more
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