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Something that always is going to happen to you in life is death.  Let’s face it, that old saying goes that death and taxes are always going to be around and there are no ways around it.  With today’s FAQ comes a great question that many people have their mind.

Does debt get passed on after someone dies?

If you have a parent for example that is in a lot of debt, you may be worried because you’re thinking that if they die, are you going to be responsible for that $1,000 credit card bill?  To make things short, there’s a good chance that you’re not going to be liable for the debt.

Your parent’s debt after they die

Let’s say that your parents have $1,000 in credit card debt and they both pass away over time.  Once they die, that debt will more than likely won’t pass onto you.  The only way this debt will pass onto you is if you had your name on the loan or them.  For example, if you co-signed a credit card with your Mom, you will still be responsible for that.

Now, if your parents had a paid off home, car, etc, then the estate will more than likely have to sell off some of the assets so that you could pay off their debts.  This is why it’s best to get an estate attorney to help you with the matters.

Debt with your significant other

If you’re married and let’s say that your wife/husband passes away.  Now, since you’re legally a “party” or “one” when you’re married, you’re going to find that you will be responsible for all debts.  If you have children and you both die, then your children will more than likely not bring on your debts.  Again, the only way is if they have their name on the credit card, mortgage payment and more.

Debt that can’t be recouped by the credit card company is going to be written off.  It’s a good idea to talk with an estate attorney so that he/she can advise on what’s best to do for you.  Chances are if there are assets with the estate, they will have to go toward items such as the credit card payments and more.  If there is a mortgage left over, you will have to more than likely pay the mortgage off by selling the home, or again, you will have to come up with items to sell.

What should I do with these accounts after death?

After the death has happen, you will have to notify the creditors in regards to the death.  They are going to ask for a death certificate to prove the death itself.  This is going to have to be certified through the state.  When you notify the credit card companies, etc, you’re going to want to make sure that you make copies of all the papers that you sent out.  This way, if something does happen in the future, you’re going to have physical proof.

NOTE: This isn’t legal advice, nor do I pretend to be a lawyer.

The revival of Detroit is nearly complete, according to The Wall Street Journal. Chrysler made $166 million in the first quarter, its first profit in five years. Ford (F) made $2.6 billion in the same period, which was its best result since 1998.

But the clearest sign of Detroit’s comeback is that GM (GM) is set to retake the No.1 spot as the world’s largest manufacturer of cars and light trucks, if forecasts for 2011 hold up. Toyota (TM) took away that distinction three years ago as GM moved into Chapter 11, but the earthquake and tsunami that struck Japan in March have caused Toyota’s production to falter. The Japanese automaker’s sales have also been hurt by a series of recalls that began over a year ago.

GM’s recent success has been based to a large extent on its sales in China, where by most accounts, it and its local joint venture partners are the top sellers of cars and light trucks. Read full post…

The meaning of measurements has changed over the years. A blouse formerly listed as a size 12 could now be a size 6 or smaller. Standardizing women’s sizes across the clothing industry would limit fitting-room frustrations, which could only be a good thing for retailers. Yet no such solution is in sight. The New York Times reported that last year, $194 billion in clothing was returned, according to figures from the National Retail Federation.

Instead of coming up with a simple standard of measurement for women’s clothes, there are various creative fixes to decoding arbitrarily shrinking size labels. One such effort is a body-scan booth at shopping malls that gives women a list of comparable sizes at different stores. The company behind the scanner, MyBestFit, says the scan takes about 30 seconds and shoppers don’t have to strip down for it to work. Retailers pay to be in the database, and may have access to the size data collected via scan.

“Curve ID” at Levi’s is a retail-specific effort to make the perfect pair of jeans less elusive.

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Automated teller machines are from the devil, and debit cards are Satan’s imps.

Sure, it’s great to be able to get cash whenever you want. The problem is, well, you can get cash whenever you want. Not only do you get hooked on instant access, you may not use the money wisely once it’s in your hand.

Notice how $20 bills have become the coin of the realm, as it were? (I’ve even seen little kids use them to pay for candy bars, which is just scary.) Once that $20 is broken, what are the chances that you’ll take pains not to waste the rest?

In the past year I’ve heard the same issue from a number of financial coaches and budgeting experts: Too many clients withdraw $20, $40, $60 or more but can’t really account for how it was spent.

To make matters worse, banks are hiking their ATM fees, to as high as $5 for a non-customer transaction — and on the other end, too, as your own bank penalizes you for going out of network. Imagine paying

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The Missouri House started to put through one of the challenging parts of the Affordable Care Act (ACA) by voting to begin setting up an exchange program that strives to make individual health insurance easier to access with cheaper rates. They also aim to make health insurance for small businesses more attainable as well.

The article “Missouri House Begins Work on Health Insurance Exchanges” by Robert Joiner from STLBeacon.org says that some groups are unhappy with the Show-Me Health Insurance Act but despite this, the bill received an unanimous vote in the Health Insurance Committee. The new bill would allow individuals to compare health insurance rates and benefits in hopes of getting cheaper and higher quality health insurance out there.

The Committee’s chairman, state Rep. Chris Molendorp stated that the legislation plans to create more affordable health insurance for as many as 1 million individuals in Missouri by 2014 once the system is fully in place. Legis

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Abbreviations are made to deliver long words or a combination of words in their easiest ways. They are commonly used in the business world where numbers and sorts of terms are rummaged and defined. Also, it is where personal information is abbreviated for confidentiality and thorough reasons.

Sometimes, abbreviations are mistaken for acronyms. Debt abbreviations appear to be like acronyms but they differ from others when defined particularly because it is for the terms credit and debt. Banks and financial institutions are the ones using these debt abbreviations for tagging and labeling their transactions and businesses with their clients, partners and investors. Well, nowadays, a wide range of terms are being used by such to make the recording and messaging system in easier ways.

Here are some of the commonly used debt abbreviations today:

• 1. CC = Credit Card
• 2. CFP =Charge for Payment
• 3.

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Retirement planning is no slam-dunk. To make sure you retire in comfort, you have to start saving early and often. You need to pay attention to your money and not be distracted by the stresses and strains — or the joys — of day-to-day life. In the long run, you’ll thank yourself for keeping one eye focused on the future.

Debt is defined as something owed and borrowed and that is money practically. And we all know that when debt strikes and used improperly, propagated with unlikable interests and mismanagement, it will lead to destruction, a mess and yes – damage. Religiously or Godly speaking, our debts or sin had cost the life of Jesus Christ on the cross. But the damage made resulted to man’s salvation as what the famous Bible stated.

Talking about the financial debt damage, the overriding bonus and output might be drastic when not relieved immediately for reconciliation. Money matters nowadays are big issues especially in these tough economic times and all people are becoming safety and security conscious in their finances and livelihood standing. Also, money stability is a must.

When one opts to go for credit, loans or planning to borrow an amount or lease a property, thorough planning must be made. Lot

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