Kids in the House - Legal & Finance https://www.kidsinthehouse.com/articles/parenting-advice-on-legal-finance en Five Things to Know About Wills and Trusts https://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/five-things-to-know-about-wills-and-trusts <div class="field field-name-field-article-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img typeof="foaf:Image" src="https://www.kidsinthehouse.com/sites/default/files/styles/article-725w/public/five_things_to_know_about_wills_and_trusts.jpg?itok=9wmcBKNu" width="600" height="400" alt="" /></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>Being prepared for the unexpected is a very important aspect of being a parent. All parents want to look out for the best interest of their child in the event that there is an unexpected accident that impacts the family.  Setting up a will or living trust is essential, and knowing the difference and what is best for your family will help protect your children in case of an emergency. </p> <p>Sonja Panajotovic, estate and tax attorney, explains the difference of a <a href="http://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/guardianship-wills-and-trusts/difference-between-will">living trust</a> and a will.  Essentially, the living Trust and the will are very similar, but the will requires a probate period.  The two documents essentially mean and say the same thing, although the living trust is a recognized way to avoid probate.  Depending on the assets of the descendent, the estate will need to go through probate if there is only a will set up.  She recommends setting up a living trust because the probate process can be costly and can take from six months to a few years to resolve. </p> <p>Many parents wonder if they actually need a living trust because they believe trusts are only for wealthy people.  However, this is a common misconception.  Panajotovic actually believes trusts are more important for people who do not have significant assets because the children and beneficiaries will need to access as many funds as possible.  A living trust allows avoidance of lawyer’s fees, executor’s fees and court fees, allowing beneficiaries to receive more of the funds.</p> <p>Five important things to remember about <a href="http://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/guardianship-wills-and-trusts/why-trusts-are-not-just">wills and living trusts</a> include:</p> <ol> <li>A will and living trusts are very similar.</li> <li><span style="line-height: 1.538em;">A living trust does not require a probate period.</span></li> <li><span style="line-height: 1.538em;">A living trust is more cost-effective than a will.</span></li> <li><span style="line-height: 1.538em;">A living trust allows beneficiaries and children to access money and assets quicker.</span></li> <li><span style="line-height: 1.538em;">Funds with beneficiary designations such as retirement plans and life insurance policies are not held in trust.</span></li> </ol> <p>Understanding the difference between a will and a trust allows parents to make educated decisions in protecting their children in case of accident or emergency.  Parents should implement a legal plan of action to protect their children and to designate assets to a trusted person who will care for the children in the event of an emergency.  Living wills and trusts should be discussed with a legal professional for accurate legal information and recommendation.</p> </div></div></div><section class="field field-name-field-article-categories field-type-taxonomy-term-reference field-label-above clearfix"> <h2 class="field-label">Article Categories:&nbsp;</h2> <ul class="field-items"> <li class="field-item even"> <a href="/articles/parenting-advice-on-legal-finance" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Legal &amp; Finance</a> </li> </ul> </section> <section class="field field-name-field-video-category field-type-taxonomy-term-reference field-label-above clearfix"> <h2 class="field-label">Category:&nbsp;</h2> <ul class="field-items"> <li class="field-item even"> <a href="/all-parents" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">ALL PARENTS</a> </li> <li class="field-item odd"> <a href="/all-parents/financial-planning-and-budgeting" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Financial Planning and Budgeting</a> </li> <li class="field-item even"> <a href="/all-parents/financial-planning-and-budgeting/guardianship-wills-and-trusts" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Guardianship, Wills and Trusts</a> </li> </ul> </section> Tue, 12 Aug 2014 19:39:10 +0000 WebAdminKith 47550 at https://www.kidsinthehouse.com https://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/five-things-to-know-about-wills-and-trusts#comments Ten Ways Coupons Can Help Your Family Budget https://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/ten-ways-coupons-can-help-your-family-budget <div class="field field-name-field-article-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img typeof="foaf:Image" src="https://www.kidsinthehouse.com/sites/default/files/styles/article-725w/public/ten_ways_coupons_can_help_your_family_budget.jpg?itok=dNwHwKd7" width="600" height="400" alt="" /></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>It is undeniable that families are having an increasingly difficult time making ends meet, and there are more and more families looking for a way to lower their spending in an attempt to keep their households operating smoothly. Coupons are an incredibly effective way of helping to ease the strain on a shrinking family budget. There are limitless possibilities for saving money if people are willing to do the legwork. Here are ten of the ways that coupons can help cut family spending.</p> <p><strong>1. Holidays and Birthdays</strong></p> <p>Holidays are an excellent time to use coupons for specific items that are seasonal and, therefore, time sensitive. For instance, holiday scented candles and Halloween candy are usually good places to cut cost using coupons as they cannot be marketed at full price after their respective holidays, and companies will usually use coupons to encourage consumers to buy their products so there will be very little profit loss due to left over merchandise.</p> <p><span style="line-height: 1.538em;">Birthdays also present a great opportunity to save by using coupons from </span><a href="http://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/family-budgeting/birthday-freebies-and-savings" style="line-height: 1.538em;">mailing lists and in-store sign-ups</a><span style="line-height: 1.538em;">. Author Crystal Paine explains that quickly signing up for these lists gives families the opportunity to take advantage of birthday discounts and free items or services for members of their family. This helps greatly as birthdays tend to be family activities, and the cost of going to a theater or out for a special dinner can be quite a hit to the pocketbook, even for a family of three.</span></p> <p><strong>2. New Arrivals</strong></p> <p><span style="line-height: 1.538em;">Having a baby means extra expenses all around. Transportation costs, baby furniture, diapers, clothing, and perhaps formula wreak havoc on an already tight budget. The United States has a program labeled WIC, </span><a href="http://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/family-budgeting/explaining-wic-and-snap-benefits" style="line-height: 1.538em;">Women, Infants, Children</a><span style="line-height: 1.538em;">. As Dresden Shumaker, single mom and blogger, reveals, this program provides its own type of coupons for all women with infants and young children. These coupons help to pay for specific grocery items. WIC helps to make wiggle room for other needs that young families are required to address by freeing up cash that would be otherwise spent on the package of diapers or gallon of milk.</span></p> <p><strong>3. Family Meals</strong></p> <p><span style="line-height: 1.538em;">Family budgets are always hard to balance with growing children who seem to have insatiable appetites. Family meals are an excellent place to save money while using coupons. The use of coupons on food items is a popular practice that is as easy as opening a newspaper or looking for websites where coupons can be printed or mailed to you. Paine recommends pairing these coupons with </span><a href="http://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/family-budgeting/feeding-large-family-budget" style="line-height: 1.538em;">weekly sales at grocery stores</a><span style="line-height: 1.538em;"> to boost savings. In fact, there are times when using a coupon with a sale item means 100% savings or BOGO deals.</span></p> <p><strong>4. Customer Loyalty Cards</strong></p> <p><span style="line-height: 1.538em;">Having a customer loyalty card at some stores means paying regular price for grocery items with a special sticker over the tag that states the contrary, but having the right customer loyalty cards for the right grocery stores helps you to save money with the card alone. Pair these cards with coupons to save on grocery items such as cleaning products while getting a discount off of your whole bill or additional points towards one.</span></p> <p><strong>5. Dining Out</strong></p> <p><span style="line-height: 1.538em;">Although it can be hard to justify dining out when having to mind expenses, there are times when your family deserves a small treat or when mom deserves a break from cooking. A lot of fast food and family restaurants send out flyers with coupons in the mail or newspapers, and there are sometimes even coupons for local restaurants on the back of your grocery receipts which can help reduce the sting of pizza night or a quick run by the drive-thru.</span></p> <p><strong>6. Saving On Cosmetics, Medicine, and Toiletries</strong></p> <p><span style="line-height: 1.538em;">Rather than spending extra money at the grocery store on items such as shampoo or cough medicine, Paine suggests parents should opt to visit their </span><a href="http://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/family-budgeting/what-drugstore-game" style="line-height: 1.538em;">local pharmacy</a><span style="line-height: 1.538em;">. Pharmacies usually have customer loyalty cards of their own, and using coupons along with these and the instant rebates often found on packaging of cosmetics, cold remedies, and pain relievers help to keep costs down on otherwise pricey items.</span></p> <p><strong>7. School Coupon Books</strong></p> <p><span style="line-height: 1.538em;">It can be difficult to help out your child's school when fundraisers are going on, but sometimes schools give back by offering school coupon books in exchange for donations to their Parents Advisory Councils or band fundraisers. These coupon books vary in price, but always offer incredible discounts on local leisure, dining, and entertainment. If it is one of the bigger coupon books, it will include offers and coupons for businesses outside of your immediate area, as well as coupons for countrywide hotels and rental car companies. These are all around very useful booklets that save hundreds of dollars, which makes the $30 you originally spent well worth it.</span></p> <p><strong>8. Travel and Travel Rewards Programs </strong></p> <p><span style="line-height: 1.538em;">Vacations seem virtually out of reach for a family that is living on a strict budget. Travel expert Finn Olaf Jones asserts that it is still very possible to </span><a href="http://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/family-budgeting/what-drugstore-game" style="line-height: 1.538em;">take your family on a vacation</a><span style="line-height: 1.538em;"> and offers many suggestions on how to do so. Some of these suggestions include apartment swaps and temporary rentals that can be paid for with either nothing, or a small fee depending on their locale and what season you choose to book them. He also mentions travel websites as ways to save on airfare. Using your travel rewards cards for discounts on airfare can really help boost the savings from booking flights online and using coupons and discounts for rental car companies and hotels can assist with reducing travel costs when timeshares and apartment swaps aren't available.</span></p> <p><strong>9. Pet Care Expenses</strong></p> <p><span style="line-height: 1.538em;">Be it food, treats, toys, or vet bills, pets can add a large weight to your finances. Family budgets don't have to be as deeply impacted by pet ownership as people often assume. There are always coupons available in weekly inserts for dog and cat food or treats. </span><span style="font-size:11.0pt"><span style="font-family:&quot;Calibri&quot;,sans-serif">This <a href="https://www.raise.com/coupons/home-depot">Home Depot promo code</a> will surely be very useful to you when shopping for pet supplies</span></span><span style="line-height: 1.538em;">. Vet bills are always a huge burden on fixed budgets, but most veterinary offices offer discounts on routine treatments like teeth cleaning. Sometimes veterinary clinics advertise their services by mailing out flyers that include coupons on spaying and neutering animals or grooming services. These offers can hugely decrease the costs of having a pet.</span></p> <p><strong>10. Family Medical, Dental, and Optical</strong></p> <p>Because there is a large amount of competition for business in personal health and wellness, opticians, dentists, and chiropractors are having to send out coupons in local mailers that give discounts on health-care services, minor adjustments, alignments, and first visits in order to keep their clientele up. Dentists and orthodontists will commonly offer free tooth whitening with cleanings, or free consultations for braces if children need them. Optical stores are usually fairly competitive with one another and will offer two pairs of glasses for the price of one, or free eye exams. Being one of the most expensive areas of family expenses, personal care is a great place to look for deals that really translate to big savings in the long run.</p> <p>Without the need for businesses to continually require customers, coupons would not exist. Fortunately, families are able to capitalize on companies' needs and use these mutualistic promotional materials to help reduce the amount of money that their family needs to live happily and comfortably. Coupons are a wonderful way to save money, and with a tiny bit of effort, a keen eye for deals, and a sharp pair of scissors, any family can make the most of these offers for an easier time sticking with a budget.</p> </div></div></div><section class="field field-name-field-article-categories field-type-taxonomy-term-reference field-label-above clearfix"> <h2 class="field-label">Article Categories:&nbsp;</h2> <ul class="field-items"> <li class="field-item even"> <a href="/articles/parenting-advice-on-legal-finance" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Legal &amp; Finance</a> </li> </ul> </section> <section class="field field-name-field-video-category field-type-taxonomy-term-reference field-label-above clearfix"> <h2 class="field-label">Category:&nbsp;</h2> <ul class="field-items"> <li class="field-item even"> <a href="/all-parents" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">ALL PARENTS</a> </li> <li class="field-item odd"> <a href="/all-parents/financial-planning-and-budgeting" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Financial Planning and Budgeting</a> </li> <li class="field-item even"> <a href="/all-parents/financial-planning-and-budgeting/family-budgeting" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Family Budgeting</a> </li> </ul> </section> Fri, 08 Aug 2014 18:08:33 +0000 WebAdminKith 47557 at https://www.kidsinthehouse.com https://www.kidsinthehouse.com/all-parents/financial-planning-and-budgeting/ten-ways-coupons-can-help-your-family-budget#comments