Everyone goes through tough financial times occasionally. An unexpected car repair, an illness that requires days off work or a rare splurge may set you back for a few weeks. Unfortunately, for many, even the slightest bump in the road can cause their budgets to crumble, leaving them struggling to stretch their paychecks further each week. Soon, the money coming in no longer covers the bills, and creditors begin to demand their payments.
Trusts are a common component of many estate plans today. People often set up living trusts to hold their assets, including their homes, bank accounts and other property. Many people establish them to hold funds for their children to inherit when they're older. Some trusts can provide protection from creditors and lawsuits. Even if you don't have a trust of your own, you may be the beneficiary of someone else's trust -- perhaps one set up by parents or grandparents.
If your co-parent has family, business or other ties to one or more countries outside the U.S., you may be concerned that they'll take your children abroad and fail to return them. We've all seen heartbreaking cases of parents fighting to get their children back after a parent has taken them to another country. The legal actions necessary to do this can be expensive and offer no guarantee of success, regardless of a couple's custody agreement.
Using credit cards can prove tricky for many Tennessee consumers. You may have some people tell you that you need credit cards to help your credit score, and you may have others who tell you to avoid credit cards if possible. Really, whether credit cards help or harm your financial situation depends on how you use them.
As it becomes easier, less expensive and more common to travel and do business overseas, more people are investing in assets in other countries. Maybe you used some of your retirement savings to buy a little beach house in Mexico. Perhaps you bought an investment property in Italy. Maybe you are part owner of a pub that an old friend opened in England.