family member: Children and Identity Theft
- 03/27/12 05:39 AM
Children may not be the first thing you think of when you think of identity theft but in today's Equifax Finance blog, expert Peter Schroenrock reveals that children might be 51 times more likely to be victim to identity theft. Without the same credity history as an adult, you might ask yourself what kind of personal information might be a target for identity theft? Social security number Address and phone number Student ID number Email address Medical ID number Health insurance ID number Bank account numbers How can you protect your children from identity theft? There isn't much legislation out (4 comments)
When thinking of a great graduation gift for your grandchildren vacations, appliances, or dorm essentials may come to mind, but what about tuition. If you have determined that you can afford to pay for a portion of your grandchild's college, what other considerations should you keep in mind?
Assuming you have the financial means and the desire to do this, paying your grandchildren's college tuition (and other related costs) is a great way to transfer wealth to subsequent generations of your family. If you're thinking about paying your grandchild's tution, here are some things to (3 comments)
When you mix teens and machinery, like a family car, the risk of accidents increases exponentially. When your teen starts driving, it's serious business. With or without an accident on his driving record, your premium will increase just because insuracne carriers expect, based on statistics, that your teen will have an accident at some point after his permit or license is issued and he starts driving. The potential consequences could be costly, in terms of premiums (0 comments)
family member: Four Tips For Loaning Money to Family Members
- 02/08/11 02:21 AM
Economic woes in the past few years have made it more difficult for individuals to obtain traditional lines of credit. So when it comes time for them to put a down payment on a house, make home improvements, or buy a car, many are turning to family members for the money. But lending money to a relative brings its own set of pros and cons. Personal finance expert Roger Wohlner has written an excellent post offering his four tips for lending money to someone in your family. On the "pro" side, your family members won't check your credit score. On the "con" (5 comments)
family member: 8000 Tax Credit First Time Home Buyer Requirements: Buying From A Relative
- 12/02/09 08:43 AM
Q: I am in the process of purchasing my first home and have a question about buying from a "relative." The house belonged to my Father's aunt who has passed away. I will be purchasing it from her estate and the executor of her estate is my Grandmother. Will I still qualify for the first-time buyer tax credit? A: You can probably purchase the home from your great aunt’s estate and still qualify for the $8,000 first-time home buyer tax credit. The IRS rules state you cannot purchase a home from a close relative, and the regulations specifically mention a parent, (2 comments)
For the purposes of helping buyers figure out from who they can buy a property and still qualify for the $8,000 first time home buyer tax credit, the IRS defines “relative" on its documentation as a parent, child, grandparent or grandchild. Siblings, aunts and uncles aren’t mentioned on some of the forms but buyers are referred to IRS Publication 544 (3 comments)
family member: Lawsuit May Be Only Way Out Of Real Estate Ownership Dispute With Family Member
- 07/10/09 10:51 AM
Buying or owning real estate with family can be tricky. What can you do if when one family member stops contributing and won't agree to sell? If the co-owner won't ultimately agree to be removed from the title to a home on whose mortgage he's made no payments, it may be necessary to file a partition suit. A reader of mine asked the following question: Question: My 22-year old niece wants to sell a properly she jointly owns with her brother, who is 26. They inherited this property as a result of their parents' death. The property has gone through probate. (0 comments)