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How to Calculate Splitting Your Estate

Having an estate plan is one of the best things that you can do for your peace of mind and for the security of your loved one’s future. That said, it can be hard to figure out the best way to go about splitting it so that you can be sure that everyone gets their fair share. Read this guide to see some tips that you can use to split your estate in the best possible way, making sure that you do something you’ll be proud of, and that your loved ones will be happy with.

Compile a List of Your Assets

To begin with, you need to figure out how many assets you actually have so that you can work out how to split them. Some of these assets include real estate, businesses that you may have, intellectual property such as novels you may have written and other creative works, and your personal effects, including furniture and jewelry. Once you know exactly what you own, you may have a much easier time splitting it among your loved ones. You may even have novelty golf clubs and be among the record three million Americans who played golf for the first time on a golf course in 2020. Don’t forget to think about your financial assets, which include life insurance policies, investment accounts, bank accounts, and even money that’s owed to you in the form of debts you may have loaned to people.

Consider Dependents with Special Needs

If you have dependents who have special needs, such as disabilities. In this case, you may be in good standing by dividing your estate up into different proportions. Leaving more of your assets to those who are at a disadvantage is the fairest thing that you can do in this case. Otherwise, it’s a good idea to divide your estate equally among all your dependents, ensuring that there’s minimal chance of squabbles. The second option is the easiest one to use since you simply have to compile all your assets and then divide them by the number of beneficiaries that you have.

Find Out What Can’t Pass Through Probate

It’s important to keep in mind that there are certain assets that cannot pass through probate. These include retirement accounts and life insurance, which you need to name a beneficiary who will inherit them from you. Bank accounts are another one of these assets, and they have a survivorship feature. In this case, your bank account will pass on automatically to the person that you’ve named without having to pass it through probate.

Physical properties are generally going to have to go through probate, and in this case, you need to know the value of the property. For example, you should know that a standard 2,200 to 2,600 square foot roof is bound to cost homeowners anywhere from $1,000 and $4,000 to replace it fully, while professionals charge $2,000 to $8,500. When working on roofing, keep in mind that roofers charge for their work using ‘squares’, and so one ten foot-by-ten foot roof patch makes a square. This means that the average roof has between 22 and 26 squares that need to be replaced.

Hire a Professional to Help You

To make sense of the entire process, you would do well to hire a lawyer or another professional. They’re going to let you know the best way to go through the process so that it’s easier for you. To begin with, they’ll tell you what documents you need to collect in preparation for the process, which will include property and asset ownership documents. They’re also going to let you know things such as that it’s recommended that you update your estate plan once every five years. This is barring any major life events, such as moving states, marriage, or divorce.

These details should help you split your estate in the best possible way. As a result, you can improve the quality of your life, even mapping out a way to set yourself free of debt. Your loved ones are also going to be happy when they know that their future is safe from the unknown.

18 Smart Strategies to Pay off Debt and Build Your Wealth

Dealing with personal finances can be frustrating. But what if we told you that kicking debt to the curb and building your wealth could actually be fun? That’s right, folks! Gather ’round as we look at 18 smart strategies to pay off debt and build your wealth.

1. Share Your Space

Why not try renting out unused space in your home? Storage space, an extra room, or even your driveway can be goldmines in today’s sharing economy. There are plenty of websites out there that match space-seekers with space-offerers, and the income can help reduce your debt faster than you might realize!

2. Peer-to-Peer Lending

Lend a hand and a dollar to others while pocketing some interest for yourself. There are quite a few platforms out there that connect lenders with borrowers, so you can earn returns as your peers repay you with interest. Just imagine yourself as being like the bank, just without the marble floors or the stuffy suits​.

3. Your New Best Friend

Forget Netflix and chill – library and thrill is where it’s at! If you go to the library, you can get books, movies, and sometimes even streaming services for free! This switch can save you a pretty penny on entertainment expenses. You can use those savings to pay off your debt instead!

4. High-Yield Savings Account

In the world of investment, sometimes, the tortoise beats the hare. Placing your funds in a high-yield savings account means earning more interest than your standard bank offers. It’s a slow cooker method to wealth building – set it, forget it, and let it gradually build its way to financial growth​.

5. Use Cashback Rewards

Use cashback rewards cards to make your spending work for you. Cashback rewards can turn everyday purchases into a small but steady stream of passive income. This way, you get a reward for spending on necessities or the occasional splurge. Just make sure you stick to what you usually buy!

6. Affiliate Marketing

Do you have a good social media presence or just a lot of friends? You can earn commissions by promoting products or services you believe in. You can use your influence for income, turning recommendations into revenue, as there are plenty of companies out there willing to pay for a bit of promotion.

7. Stock Photography

If you’re the shutterbug of the family, then you should try selling your photos as stock images online. It’s an easy way to turn a hobby into a source of passive income – your gallery is a goldmine! Just remember, the more unique and high-quality your photos are, the more they’ll stand out.

8. Write and Sell an eBook

Share your expertise or stories in an eBook. Sure, it’s difficult, but it’s not impossible! Your book could be the next big hit in niche markets, which will give you royalties for years to come. And the beauty of eBooks is the set-it-and-forget-it nature – write once, sell forever. It’s the perfect passive income!

9. Design and Sell T-Shirts

Combine your witty sayings or artistic skills with a bit of entrepreneurship by designing and selling T-shirts. Platforms like Teespring or Redbubble make it easy to put your designs out there without the need for upfront investment in inventory. This is your chance to wear your heart on your sleeve – literally -and make some money while you’re at it.

10. The Great Outdoors as Your Gym

Forget pricey gym memberships – Mother Nature can give you a free gym membership with a view. Hiking or just walking in the great outdoors will improve your health and also your pocketbook, so you’re killing two birds with one stone! And as an added bonus, no gym wall can beat these beautiful views.

11. Turn Clutter into Cash

That attic filled with ’70s relics? It’s not a time capsule – it’s a treasure trove. Online marketplaces are filled with collectors and enthusiasts who might view your “junk” as a rare find. Selling these items can help you reduce your debt and declutter your living space – imagine turning that lava lamp into cold, hard cash.

12. Go Green, Save Green

Energy-efficient appliances or improvements to your home can seem pricey upfront, but think of it as planting a money tree. Reduced utility bills mean more money to reduce your debt. And let’s not forget the potential tax incentives for making your home more energy-efficient. It’s like the government is paying you to save money!

13. The Art of Bartering

Why spend when you can trade? Offer your skills or goods in exchange for something you need to avoid the need for cash, keeping your wallet fat and happy. For example, you could swap gardening skills for haircuts or carpentry work for dental services. The possibilities are endless, and the economic thrill? Unbeatable!

14. Become a Plant Whisperer

Starting a vegetable garden might seem strange, but it’s a solid gold strategy for cutting grocery bills. Plus, there’s nothing quite like the taste of victory (or tomatoes) that you’ve grown yourself. If you get really good at it, you could even start your own farm stand. Talk about fresh and profitable!

15. The Spy Who Saved Me Money

Believe it or not, you can get paid to shop – mystery shopping gigs cover your expenses and pay a little on top. It’s a way to do some retail therapy without the guilt because you’re actually being smart! Just imagine being the secret agent of the shopping world, where your missions are actually padding your bank account rather than draining it.

16. Health is Wealth

Investing in your health can actually save you a fortune in medical expenses down the line. Whether it’s exercising, dieting, or even preventative care, it’s all a deposit into your health savings account, reducing future withdrawals (of both the financial and physical kind). Also, being fit and healthy means you can enjoy your riches for longer!

17. Refinance Your Ride

Everyone knows about refinancing your mortgage, but did you know you can also refinance your car loan? If interest rates have dropped since you secured your original loan, refinancing could reduce your monthly payments and total interest paid, freeing up more money for debt repayment. It’s simpler and more painless than you might think.

18. The Gift of Gab

Prices aren’t always set in stone. Whether it’s cable bills or medical expenses, a polite conversation can help you reduce your debt or create payment plans. The worst they can say is no, but when they say yes, you’ll feel great! You can turn potential expenses into savings or manageable amounts.

Stay Positive

Remember, the path to financial freedom doesn’t have to be boring. With a little creativity and some diligence, you can make managing money into something, dare we say, fun! These 18 clever strategies will be your way to financial freedom – here’s to laughing all the way to the bank!

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How to Afford Medical School

If you’ve always aspired to be a doctor, but the costs of medical school put you off, you should know that it’s possible to afford medical school. While it may call for a lot of dedication and hard work, you can achieve it and go on to live the life that you always wanted. The best part is that you may not even end up in debt as a result, and here are some of the things that you can do to manage this.

Come Up With a Good Plan

The first step to take in order to afford medical school without racking up debt is to come up with a good financial plan. To come up with this plan, you’ll need to first identify the schools that you’d like to join. This way, you’ll know how much you need to spare in terms of tuition and other school-related expenses, so you’ll be working towards a clear goal. From this point, you can look into various loan and financing options so that you have a few good ones lined up to which you can send applications.

Find Scholarships or Grants for Which You Qualify

At this point, you should already have a number of financiers that you can approach. An additional option is grants and scholarships, which are a lot better than grants because you won’t have a debt at the end of it all. Check around to see if there are any for which you qualify and prepare a sound application that’s not likely to be turned down. This may give you a good chance of ending up in the medical school of your choosing, something that a good number of other people have benefited from in the past. This may be part of the reason why enrollment in medical school has increased by 52% since 2002, according to the American Association of Medical Colleges.

Look for a Side Hustle

You shouldn’t underestimate the ability of a side hustle to make it possible for you to go through medical school with no debt. Many people have struck it rich with side hustles that ended up making them a lot more than they ever hoped for, and there’s no reason why you can’t be one of them. That said, you don’t need to start with lofty ambitions as a side hustle that can help you raise your medical school fee is going to be a lifesaver for you.

For the side hustle to be successful and worth it for you, make sure that it won’t interfere with your school if you intend to keep doing it after enrollment. It could be anything from offering dog-grooming services to tutoring schoolchildren and even babysitting. You may have an especially easy time with the last option if you like kids and know things, including that children as young as three years old use realistic pretend play to understand the real world, according to The Genius of Play.

Find an Affordable Medical School

Finally, you can make the overall task easier for yourself by looking for an affordable medical school to begin with. This way, you’ll have a lower figure to come up with, which is a win without a doubt. You could also check to see if there are affordable courses that you can take to learn some basics and then enroll for a full program at a higher level, cutting short the time you have to spend in school. During the basic programs, you’re sure to come across a lot of information from credible sources. This includes the knowledge that blisters generally heal in a period of three to seven days, according to NHS Inform.

With these tips, you should have a chance to live your dream of going to medical school. You’ll have an amazing career ahead of you if you can do this without accumulating debt. That said, give every option a try because whatever works out will be worth it.

How Effective Marketing Can Bring Long-Term Financial Success for Your Company

Marketing is often considered the cornerstone of any successful business or brand today, regardless of what you sell and the consumers you intend to attract. Understanding how effective marketing strategies can ultimately bring long-term financial success for your company is crucial anytime you are going into business, regardless of your experience. The more familiar you are with popular marketing methods, tactics, and platforms today, the easier it will be for you to streamline any marketing campaign you have in mind in the future for your business, both online and off.

Establish Yourself as an Authoritative Source

Effective marketing can help you establish your business and brand as an authoritative source, regardless of the industry and market you represent. The right marketing campaign strategy will streamline the process of promoting your products and services professionally and with the right voice. When your business is viewed as an authoritative source, it is much easier to draw attention to it while generating sales and profit.

Outperform Your Competition

When it comes to forming an impression of a business or person, an individual only requires approximately seven seconds, according to Forbes. Using the right marketing tactics can help outperform your competition while making your business stand out from the rest. A unique marketing campaign will not only help set yourself apart, but it can also become brand-defining, depending on the message of the individual campaign itself.

Reach Broader Markets

If you want to reach broader markets, increase sales, and boost your finances, you can do so with an effective marketing strategy in place. Creating relevant and useful content is one of the most effective SEO tactics to date, according to 72% of marketers around the world. The use of both online and offline marketing can help to significantly expand your reach, ultimately allowing you access to many more potential customers and clients.

Build Trust

Whether you are working in manufacturing, retail, or IT, building trust via effective marketing campaigns is crucial for those who are working in business. Today, it is estimated that approximately $2.7 trillion is contributed to the U.S. economy by manufacturers alone on an annual basis. The right marketing campaign will not only attract new customers but will also provide the opportunity to truly make a difference while sharing your message with the world.

When customers feel as if they can trust a brand based on its imagery, messaging, and overall aesthetic, they are more likely to pay for the services and products they offer. Trust is also integral for those who want to garner new customers through referrals and word-of-mouth.

Create a Brand Voice

Creating a brand voice is also possible with a winning marketing campaign. Using the same brand voice across multiple channels is a way to hone in on specific demographics you intend to target. Developing a brand voice can go a long way in helping to build trust as you work to establish your business as a source of authority in your current market and industry.

Communicate Directly With Followers and Customers

Using the right marketing strategy for your business will also make it easier than ever to communicate with followers and customers. By using your official website, newsletter, or social media pages, you can communicate directly with those who are interested in learning more about your business or even loyal customers who have inquiries.

Learning about the effectiveness of winning marketing campaigns can go a long way when you’re in the process of building a business and brand of your own. When you know what to expect from utilizing various marketing platforms and techniques, you can choose a strategy that is just right for your industry and the demographics you are trying to reach. The more actively engaged you are with the process of branding and marketing your business, the more likely you are to achieve the success you desire.