Your Parents, FDIC and Keeping Your Money Safe | Financial Accounts

If You Really Can’t Decide Who to Name As Guardians, Here’s What to Do

There are a lot of parents out there who have not named        KPP Square.jpg
guardians for their kids because they really can’t decide.

You might be one of them.

But, here’s the thing. If you don’t decide and something happens to you, the decision gets made by a Judge.

You don’t want that, do you?

Here’s a few things that may help you decide:

1.  Think through on a practical, realistic and non-emotional (to the extent you can) level who would come forward to raise your kids if you were in an accident.

2.  Is that who you would want to raise your kids?

3.  If not, who would be better than that person or those people?

4.  If more than one person would come forward, who          images Judge.jpg
would a Judge pick if the Judge had to decide between all
the people who would come forward?

Bottom line? 

If you don’t decide, a Judge will. Even your worst choice would be better than that, right?

The free KidsProtectionPlan.com website will walk you through the entire process of choosing the right guardians for your kids and then legally document your decisions.

If not knowing who you want to name has been holding you back, don’t let it hold you back a second longer.

Do it now. It’s Free. It’s Easy. No Excuses.

SOURCE: Alexis Martin Neely, who is a mom, writer, speaker and the Personal Family Lawyer you love. Alexis makes it super easy for your family to talk about and plan for sticky subjects like money, death and taxes. Find your own Personal Family Lawyer at www.PersonalFamilyLawyer.com. Get Alexis’ humorous, enlightening, and often quite revealing Family Wealth Secrets by visiting her website at www.FamilyWealthMatters.com.

Sign Up for Free Report on “12 Steps to Preparing for a Georgia Divorce”

I am still working to complete my book on Georgia divorce, which I will make available to my readers when it is completed, but in the meantime, I have completed a free report on "12 Steps to Preparing for a Georgia Divorce."

This guide is available to anyone who provides their contact information on the "Sign Up for Our Email Newsletter" form on the upper right side of this page.

When you enter your email address there, you are taken to another page to provide your complete contact information (name, address, telephone, etc.) and you can select from a number of choices of free reports and newsletters I offer.

Select the "Free Report: Georgia Divorce Law" option and you will receive the longer book when it is completed, but you will also receive the "12Steps" report right now. I will send you a link to a page where you can download the report.

Thank you for your interest and for being a reader of this blog!

Georgia judge orders rapper T.I. to pay more child support

Ti_rapper A judge on Tuesday [September 23, 2008] ordered rapper T.I. to pay more child support to the mother of two of his children after she claimed he wasn’t providing enough money.

Superior Court Judge Bensonetta Tipton Lane told the two-time Grammy winner, whose real name is Clifford Harris, to pay just over $3,000 a month to LaShon Dixon. He had been paying about $2,000 per month.

The judge also said the 27-year-old performer must continue to pay for the boys to attend private school, uninsured medical bills and expenses related to the children’s extracurricular activities.

Tipton Lane also awarded the couple on Tuesday joint custody of the boys, ages seven and eight. Dixon, 28, was granted primary physical custody. The children previously spent about 40 per cent of their time with the rapper.

Dixon’s lawyer, Randy Kessler, said his client is still unsatisfied with the amount the judge ordered T.I. to pay but is happy to receive more child support.

"Every little bit helps," Kessler said. "She was just getting by with the children, while they lived a different life with their father. It can’t be complete opposites on the other side."

An email to one of T.I.’s lawyers was not immediately returned Tuesday.

He also has two sons with his fiancee, Tameka (Tiny) Cottle, of the defunct R&B group Xscape.

SOURCE: Canadian Press

PHOTO SOURCE: Once Upon a Man

UPDATE: Lawyer says T.I. is happy with Ga. judge’s order

A lawyer for T.I. said the rapper is happy with a judge’s decision in a child support case brought by the mother of two of his children.

Superior Court Judge Bensonetta Tipton Lane on Tuesday ordered the two-time Grammy winner, whose real name is Clifford Harris, to pay more than $3,000 a month to LaShon Dixon. He had been paying about $2,000 per month.

The judge also said the 27-year-old performer must continue to pay for the boys to attend private school, uninsured medical bills and expenses related to the children’s extracurricular activities.

"The court denied Ms. Dixon’s request for an upward deviation in child support," said John Mayoue, T.I.’s lawyer. "The court further ordered him to continue doing what he had already offered to do and what he has been doing since the children were born. He’s very pleased with the order."

Tipton Lane also on Tuesday awarded the couple joint custody of the boys, ages 7 and 8. Dixon, 28, was granted primary physical custody. The children previously spent about 40 percent of their time with the rapper.

Dixon’s attorney, Randy Kessler, previously said his client is still unsatisfied with the amount the judge ordered T.I. to pay but is happy to receive more child support.

T.I. also has two sons with his fiancee, Tameka "Tiny" Cottle, of the defunct R&B group Xscape.

SOURCE FOR UPDATE: Fulton County Daily Report

September Financial Collapse 101

Victor_photoframe The following article is written fellow Personal Family Lawyer, Victor Medina, of the New Jersey law firm of Medina, Martinez & Castroll, LLC, and author of the New Jersey Estate Planing Blog.

September saw the collapse of three major financial or insurance institutions in the U.S.: Freddie Mac/Fannie Mae, AIG and Lehman Bros. Although the reasons for each differed, the common denominator in all three cases was the inability of the firms to retain financing.

Freddie Mac/Fannie Mae Takeover

Freddie/Fannie were set up to support the housing market in that they guaranteed mortgages and were able to fund these guarantees by issuing their own debt, which was backed by the government. Many investors, who saw the government-backed debt as the substitute for US Treasury securities, bought lots of it. Weakly supervised, Freddie/Fannie used their subsidized financing to buy mortgage-back securities, which were backed by pools of mortgages that did not meet their usual standards. Their thin capital was not enough to cover losses on the subprime mortgage market, and facing massive collapses everywhere if Freddie/Fannie defaulted, the Treasury stepped in and guaranteed that debt. After that happened, no investor was willing to put in more money to buffer these losses. So, the Treasury ended up taking them over.

Lehman Brothers Bankruptcy

As an investment bank, Lehman relied on “rollover”funding to finance its investment in real estate, bonds, stocks, etc. All investment banks operate similarly, but when it’s hard for a lender to monitor investments or risk portfolio of the borrower (here, Lehman Bros.), the lender opts for short-term financing. Then, the lender can later threaten to withhold the roll-over financing for the next short-term and keep the borrower in check. As short-sellers became convinced that Lehman’s real estate losses were worse than acknowledged (and as news of the Freddie/Fannie collapse was announced), Lehman’s costs of borrowing rose and its share price plummeted. As a result, Lehman’s credit rating was going to be downgraded, which would have prevented certain firms from continuing to lend to Lehman. Other firms who might have been able to lend, even with the lower credit rating, simply concluded that the risk of default was too high – and so, Lehman’s money ran out.

AIG Bailout

Part of AIG’s business was dealt with a kind of derivative called a credit default swap, or CDS. CDS is like an insurance contact where the buyer pays a premium to the seller (here, AIG) for protection against a default on a package of debt backed by, let’s say….residential mortgages. For a while, AIG was writing a lot of these kinds of contracts because the risk of payout was low and the premiums were an easy profit. As the subprime mortgage market went in the tank, the possibility of further losses caused credit rating agencies to downgrade AIG’s debt. With this lower rating, AIG’s existing contracts compelled them to post that they had sufficient collateral to service the contracts (somewhere around $15 billion in immediate collateral). If AIG could not post the collateral, it would have been considered that AIG defaulted on the CDS’s and that would have called into play cross-default provisions on some of AIG’s other contracts. AIG had about $380 billion in these other types of insurance contracts. No private investors were willing to loan AIG the money it needed to post the collateral. Even if it could post that collateral with current holdings, it would have called into question AIG’s ability to service its own existing debt – which was about $160 billion in bonds held all over the world.

Given the number of intertwined parties and industries, the Federal Reserve decided that a default by AIG would have a catastrophic domino effect on the financial system and cause contagious failures. So, the Fed loaned AIG the $85 billion it needed to post as collateral to honor its contracts.

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