Posted on Saturday, January 26, 2013

Why Hire An Estate Executor?

While it's truly an honor to be named an estate's executor, the position carries with it an enormous amount of responsibility that requires the person to do plenty of hands-on work. If the person writing the legal will is smart, he will choose the executor wisely and diligently during the process of estate planning. A person who can handle the stresses that come with the responsibilities involved in such a role is a good choice.

An executor's primary role is to make sure they become the living representation of the deceased person. During probate, getting the courts to give the executor authority through a legal, written directive to do business on behalf of the deceased is extremely crucial.

Once authorized, the executor can obtain all existing accounts and assets, including safety deposit boxes. They can speak with companies and government services on behalf of the deceased, pay all remaining debts and carry out the will and distribute inheritances among heirs. Once all assets have been distributed accordingly, an executor is discharged by the court and the estate is closed.

It's not entirely easy, which is why experts emphasize the importance of consulting regularly with the person who wrote the will, speaking with the heirs and seeking assistance when needed. According to a certified public accountant and financial specialist, getting the right information can help reduce taxes or lower the costs of administering the estate, while a financial expert can help file the returns for the estate and the individual.

Executors aren't always named in a will and the job is non-obligatory, which means one can decline an offer to be an estate's executor. However, under U.S. state laws, the executor of an estate is generally entitled to certain percentages as payment for their part in carrying out the will properly. They are commission-able for the estate's income and other unusual or extraordinary services rendered.

(Originally Published Markowitz and Gravelle LLP Law)

About The Author

Victor Dela Casa is a Filipino-Canadian who spent over a decade working as a business professional in Canada. Worked in IT, finance, marketing, international trade, public service, project management and the maritime industry. Degree in Economics from the University of the Philippines and Honours Diploma from Eastern College. Currently based in the Philippines and working as a professional writer for a multi-national business processes firm.

Tags: executor, estate, U.S. state laws, estate planning, legal will, probate

Posted on

Concussion haunts American football

Future NFL Hall of Famer Junior Seau

While football is a truly exciting sport, National Football League (NFL) and National Collegiate Athletic Association (NCAA) players know all too well the risks involved in an aggressive sport like American football. The NFL has had its fair share of terrible and devastating injuries to its players. Yet, of all the injuries inflicted on-field, none is more enigmatic and distressing than head blows that could lead to severe brain injuries. This particular injury is putting the league into a legal tailspin and gives Commissioner Roger Goodell severe headaches.

Such is the reality of "

America

's Game." Many argue that it is just the nature of the sport, but new technology is shedding light to the realities of brain traumas like concussions and blows to the head, especially if repeated, are linked to permanent brain damage.

Last year, future NFL Hall-of-Famer, Junior Seau, committed suicide after battling depression and the reported "voices in his head." Recently, a team of scientists studying his brain tissue concluded that he had chronic traumatic encephalopathy from repeated blows to the head during a career that spanned two decades. With the findings, Seau's family recently filed legal lawsuits against the NFL, the NCAA, and Riddell Athletic Gear.

The NFL has had numerous cases of retired players, many of them forgotten, whose lives after football are marred by the effects of repeated blows that resulted in perhaps hundreds of medically undocumented concussions. With the current lack of understanding, signs of the injury are hard to spot. The urge to win and the love of the game soon takes over again and the injury is ignored until it re-surfaces later.

With new technology, athletic organizations have done their best in recent years to protect players from the dangers of concussions by enforcing strict policies that prevent brain injuries. Regardless, hundreds of lawsuits from retired players are being filed all across the

United States

against the league for not doing enough to protect them from head injuries in the past.

(Originally Published Eisenberg Gilchrist and Cutt)

About The Author

Tags: american football, brain injuries, concussions, nfl, national football league, lawsuits, junior seau, riddell, america's game, injury, legal, law, trauma, suicide

Posted on

Where to travel with the new tax laws

Affordable Destinations in the Age of the Fiscal Cliff

With the world’s economy in shambles, affording the cost of travel for an exotic getaway is proving to be a challenge for the average household. The dollar may have stabilized compared to the Euro and the Pound; but the latest Congress-approved tax laws isn’t exactly peachy (although the new inheritance and gift exemptions will make any Warren Buffet wannabe jump for joy).

Europe’s top travel and tourism destinations can cost one somewhere around $3,000 per head a week. Australia isn’t getting cheaper anytime soon. And Japan, my dream destination, can cost anyone their life savings.

The rule of thumb is “if you can’t afford to travel, then don’t”…or use those credit cards you’ve been holding out on since the bubble burst. But having debts, especially credit cards debts, isn’t as practical as it used to be. But what if there are quality destinations you can afford left in this planet?

Welcome to the list of the most affordable tourist destinations you probably didn’t know in the age of the new tax law. This is a list of some popular exotic places in the planet that won’t cost you more than $100 a day.

Egypt

When you think about this African paradise, you imagine pyramids, camels, bazaars and sand -- lots of it -- all under the scorching Mediterranean sun. Sounds fun and expensive, right? Think again. What we didn’t expect is the cost of living in the land of Pharaohs and one of the world’s first cradles of human society.

Egypt’s hotels far outnumber the demand for it thus the price for a room won’t cost you an arm and a leg. For $60 a night, you can get a deluxe double room in Luxor with a view of the Nile River and free breakfast. A private room by the Mediterranean Sea in Dahab will only cost you $20. The entrance for the pyramids is dirt cheap with prices ranging from $3 to $17, and some already includes a guide. A train ride from Cairo to Luxor for only $20. In terms of food, you can’t go wrong with street foods only costing you less than 5 cents to restaurant servings at $5 a plate. The best part about Egypt is that it’s not hard to spot a place to eat, stay or guides in the city because they will come find you.

Mexico

This Canadian favorite winter getaway is already a bargain even before the economy broke down in 2008. With the current exchange rate as it is, Mexico remains quite the deal. The tremendous bargaining power the U.S. Dollar has over the local Peso makes visiting truly worth it.

Accommodations and tour packages is affordable especially if you find a local colonial age themed city or a beach resort where natives are the dominant visitors. A three-course meal will cost you $5 to $8 at the local market. A nice hotel room is around $70 with breakfast and free wi-fi. A round of good ole’ fashioned cerveza for $5.

Thailand

This country is a popular destination for travelers of all budget levels. With the amount of deals on airfare, tours and hotels, Thailand remains to be one of the best bargains in the world. Everything is easy to find and there’s an abundance of coast lines for the ocean-loving tourist.

A standard double at a 5-star hotel in Bangkok will only cost $250 or less each night. Much affordable accommodations are also available for the intrepid tourists. If you are looking to satisfy your gastronomic cravings, Thailand is popular for its delicious street foods and oriental-style restaurants – and they’re literally dirt-cheap, for a lack of a better-term. A plate of pad-Thai is only $2, no kidding. Admission to the ruins in Sukothai is under $2 and it’s practically the same for most popular Buddhist temples. With the savings, you can take a train ride up north to Chi’ang Ma-i for only $40.

Everyone I asked about Thailand only have good things to say about visiting the country. With the cost of living in the country, you can get way much more bangs for your buck and more places to see.

Philippines

Our very own country boasts some of the best tourist destinations in the world but the lack of exposure means that there aren’t that many foreigners visiting and the cost of travel at a minimum. The country’s conversion also helps. The U.S. Dollar currently stands around $40 against the Peso and there’s quite a mileage for each buck spent.

The only drawback in the Philippines is that tourist destinations and traps are spread throughout the county but if you like to hop islands ala Amazing Race it can be paradise. Hotels are the same rate or just a few clicks higher than those in Thailand. Budget accommodations are also available. A jeepney (local transportation mode) is only 2 cents a way and inter-provincial travel won’t cost you more than $50 from Manila. Admission to public beaches is at $2 per head. There’s plenty of everything here with the country being one of the most diverse culturally and gastronomically in the world. It is also considered as the one of the most-tourist friendly. A burger meal at a local fast food like Jollibee or McDonald’s is at $3 and most three course servings at restaurants won’t cost more than $10. What about the beer? A bottle of beer is only a buck for most pale pilsner brands.

Czech Republic

The costs of living in Europe’s big cities are often double that in the countryside. The Czech Republic is no different. While hotel and restaurant prices have gone up in Prague, it’s outside of the capital where one can truly find value. Yup, it’s a taste of Europe without the Euro price.

If you are looking to head outside the capital, visit a hilltop castle and stay in a hamlet close by. Most accommodations are $100 or less with breakfast. A 12-bottle wine tasting, my favorite, is only $20. With the savings, you can go on a cross country tour by train for $12 or less per way. Eastern Eurpoe is known for its exotic locally brewed beer and you can get a bottle for a dollar. Speaking of hill crest castles, the average entrance fee is only at $20. That’s quite the deal.

Peru

The temples of Machu Pichu aren’t the only destination of note in Peru. The country boasts its capital city, Cuzco, as one of the most beautiful cities in South America. But do you know that Peru offers guided trips to the Andes, the Amazon River and Nazca?

This country has the cheapest deals on this list. You can find some of the best quality rooms and hostels at $4 to $10 per night. The entrance to the Cuzco Inca Museum is only $2. When it comes to food, a big traditional lunch with beer is $7 while a simple meal at a countryside restaurant for two is only $6. That’s not the only offering. As mentioned, there are guided treks and tours to the Inca ruins, the Amazon, the Andes and Nazca lines. All of which won’t cost you more than $40 a head. Now, that’s a deal!

The Congress-approved fiscal cliff deal may have taken more out of some people’s pockets. The only shining light is the new estate and gift tax exemptions that allow one to gift a much larger portion of their inheritances without paying the taxes. At least with this deal, a regular employed American can still afford to travel the destinations I listed.

Before you talk to your estate planner, consult with a travel agent first.

Visit these local travel related websites for great travel deals:

Arlene's Travel and Tours

Bataan Buenalink Travel

Book Below Zero

Tags: estate planner, travel agent, estate, new tax law, African paradise, travel and tourism, fiscal cliff deal, estate and gift tax exemptions, inheritances, winter getaway, cost of living, best tourist destinations in the world, a taste of Europe, beautiful cities

About The Author

Posted on Monday, January 21, 2013

Mortgage Forgiveness Extended

A house is one of the biggest and most rewarding investments of a person's life -- and one that can also prove very expensive and troublesome for some. I remember when I first bought mine in Halifax, the feeling of self accomplishment and fulfillment was so high, I felt invincible financially.

While a select few can afford to purchase a home without having to borrow money from a bank, most Americans must rely on mortgages to finance such an endeavor. With the depletion of the housing market still evident to this day, mortgage payments are difficult for most leaving many people to seek debt relief.

Struggling homeowners may be able to breathe a sigh of relief. As part of the Fiscal Cliff bill enacted by Congress, the Mortgage Forgiveness Relief Act, a debt relief program originally enacted in 2007, has been extended through 2013. The extension promises to help Americans manage financial challenges due, especially, to mortgage debts.

The Mortgage Forgiveness Debt Relief Act of 2007 and its extending amendment allowed the exclusion of income realized as a result of debt reduction on a taxpayer's principal residence. This means that all principal balances unpaid by the homeowner and forgiven by the lender will not be treated as ordinary income. The act states that the amount written off by the lender and any profits received by the seller as a result of selling a house is non-taxable whereas it would've been taxable income if the act was not in effect.

Congress also extended other key programs designed to help qualifying homeowners to afford their mortgages, sell their homes and assist them if they need to relocate. These programs are the Making Homes Affordable, the Home Affordable Foreclosure Alternates and the Homes Affordable Modifications Program. Another, the American Taxpayer Relief Act of 2012, extends the exclusion of capital gains tax on principal residences.

(Originally Published Edward P. Russell Law Office)

About The Author

Posted on Sunday, January 20, 2013

Who The Hell Is Bryan Boy???

I'm not one for fashion. No, not me.

Rarely will you catch me as a fashionable, well-dressed, hunk-o-meat strutting my flabbiness, pouting like a bitch, while an imaginary Madonna song called "Vogue" is playing in my head. Nope, not my style. But something about fashion did caught my eye the other day.

I was visiting my wife at her work when I came across a Rogue magazine article from late last year. In it a spread of a local fashion model who I really don't give a rat's ass about and an intriguing article about a certain Bryan Yambao from the wrong side of Muntinlupa (not the prison) who made it big in the fashion blogging genre.

Who is Bryan Yambao? Apparently, this dude is one of the first and the most influential fashion blogger (check out his blog website at bryanboy.com) in the world, he rubbed elbows with the biggest names in fashion and even made it on U.S. cable tv...and he is Filipino. I'm not sure if I am a blogger, per se, since I don't write about a single particular genre or topic, but as a writer of sorts, I like reading about other people's successes and passions, and maybe write something about it.

And so I read.

What unfolded to me is a scat-spraying article by J.R. Nakata with interviews from fashion designer Tina Daniac, and how he, seemingly, attempts to undermine Mr. Yambao's (will refer to him as BBY from this point on) success by claiming that he was a fashion gold-digger and a total bitch who committed credit card fraud to afford his expensive fashion tastes.

While everyone who have read BBY's blog agree that he is an overzealous bitch who likes to flaunt his expensive purchases on the net and what have you, the article to me borders in the bizarre and the tactless. But then again, the writer was writing about a gay dude who openly posts his sexual adventures and crazy purchases while spitting at his Filipino heritage.

I don't know BBY personally so I am not qualified to lambaste him but based on what I read, I am getting the impression of a frail looking 31-year-old gay man who wears the most ridiculous of clothing (term is "fashionable"), who likes to be manhandled by foreigners for sex all the while flaunting it all on the internet. BBY's antics is just out of this world. Plus the claims of credit card fraud to afford a $750,000 handbag to me is mind boggling. And that's not the only purchase he made. the article told of stories of burning expensive Prada accessories because "It's just a Prada" or how he would pay $4M in Gucci products abroad but had to ride a taxi cab to go somewhere or how his shanty in Muntinlupa (that he shared with his folks in what is probably the worst part of that city) would have all these expensive stuff hanging or sitting on dos-por-dos shelvings.

BBY's lifestyle is odd for someone like me. He did climbed his way to the top and that deserves a round of applause and my respect. With regards to the credit card scam, well, bloggers make money by advertising, free samples and yes, credit cards from possible sponsors. Maybe this is why he never bothered getting his place fixed because whoever gave him the credit cards, gave it to him to buy, try and review these expensive clothes and accessories. They probably check credit card statements to see if BBY is playing by the rules. Plus, BBY didn't change his name on the credit cards except for a few variations of it according to the article. I don't see anything wrong with that.

If BBY did commit credit card violations and identity fraud then he should answer to the law if there are laws governing such a case but based on what I read, I think everything was done legitimately. On the other hand, Rogue Magazine may potentially have a lawsuit on their hands in the near future.

And what about me? I'm still wearing a hoodie on top of a simple t-shirt and cargo shorts, sporting my worn out Addidas classic shoes and a pair of Roots sunglasses while walking aimlessly in Magsaysay Drive to the tune of "Oppa, Gangnam Style."

Note: Another rush writing. 15 minutes and done. Seems like I'll have to squeeze my blog in between breaks and my day job from now on...oh, what a tragedy.

About The Author

Posted on Thursday, January 17, 2013

NHL Set To Start At Last

NHL set to start as both sides agree on new employment contract

Everyone in Canada has something to cheer about now that the new season of the National Hockey League is back...and my Canadiens ready to skate the ice.

The National Hockey League Players' Association (NHLPA) finally submitted to the terms of a new 10-year collective bargaining agreement that effectively ends the 117-day lockout, the longest in league history, and kick starts the shortened 2012-2013 season. The league and the union signed a Memorandum of Understanding on January 13 that reflects the terms of the new employment contract's pension, benefits and compensation schemes.

The contract dispute was focused on how players and owners should split revenues after reports of 50% growth last season. The new agreement also gives both sides the right to opt out of the 10-year contract after eight years.

The new agreement also calls for the equal sharing of all hockey-related revenues between owners and players and stipulates that a player's contract length is limited to a maximum of seven years. A maximum of eight years is allowed for re-signing a team's own unrestricted free agents. There are also provisions for the regulation of compensation structure such as year-to-year salary variability and minimum values. Another feature is a newly defined benefit pension plan for the players and enhanced revenue sharing among the clubs.

The lockout cut short the schedule to about half including the cancellation of key prime time games such as the 2012-2013 Winter Classic that was set on New Year's Day. It will also cancel the supposed Columbus-hosted All-Star Night to give way for ranked games.

A total of 625 games were forcibly cancelled. The league lost $1 billion in profits this year while players lost 7 percent of total league earnings with the new pact. In the end, for now at least, everyone is happily waiting for the refs to drop the puck on January 19. Face off!

(Originally Published James E. Arnold and Associates LPA)

About The Author

Posted on Monday, January 14, 2013

Paternity During A Divorce

Divorces are one of the most emotionally-charged and traumatic events in one's life. While building a lifetime full of hopes and positive aspirations for you and your spouse, a divorce can enter the picture and, in an instant, take all that is good away leaving you on an emotional roller coaster that doesn't seem to end.

As divorce makes you question your beliefs and your ability as a husband, experts agree that doubting one's ability as a loving father is a common mistake among fathers. Divorce may have ended your relationship with your spouse, but it shouldn't end your paternity or your relationship as a father with your children. Divorce affects fathers all over the country.

The article quotes a licensed psychologist who touts the importance of a father in the upbringing of children. Specifically, the therapist points to the crucial nature of a dad being in the lives of children in a emotional and physical way.

Whether you have a boy or a girl or both, your children are constantly looking up to you. As a father-figure, your sons see you as a guiding light of who they are supposed to become while daughters learn who they should look for in a mate by your example.

According to the therapist, there are five important things that a father should do after a divorce to maintain a healthy relationship with his child or children.

She advises that fathers should stay in town if they can and maintain regular, predictable contact with the kids. She also mentioned the importance of being emotionally engaged and supportive of their best efforts, such as attending school plays or watching them play in a little league baseball game.

Her point is that the more present a dad is in a child's life, the stronger the bonds are that are being created. While absence could make the heart grow fonder, with children, it is presence that matters the most.

For all legal concerns involving paternity, divorce and child custody, it is advisable to contact a legal professional who can help during the difficult times. Legal professionals are trained and experienced in handling such sensitive cases and can guide fathers through their rights concerning their relationship with their child during a divorce proceeding.

(Originally Published De Plaza and O'Connor Law)

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Posted on Thursday, January 10, 2013

Firefighter Dies In Train Accident

Railway accidents in the United States and Canada are often a deadly affair that is both saddening and, in most cases, avoidable. Just recently, an adult male's attempt to drive a pick-up truck across railroad tracks resulted in a fatal motor vehicle accident and his eventual death.

Sources reported from eye witness accounts that the fatal accident happened when the driver of the pick-up truck ran a stop sign as the train passed that afternoon. Witnesses added that the train hit the truck, causing it to flip and dragging it about 100 yards upside down.

According to local police, the railroad crossing has several warning signs but has neither lights nor any other mechanical devices. Residents agree that changes could have made the crossing safer as some trains are not always that loud and bright.

“They could put some lights up. If they put lights on, that would tell people there’s a train there if you’re not paying attention,” one resident said.

The victim was later identified as a 27-year-old firefighter with a South Carolina fire department. He left a wife and three children. City officials are meeting to discuss possible changes and improvements to the area.

Train collision with smaller vehicles is a very deadly type of accident that could’ve been easily avoided with proper warning mechanisms. According to the Federal Railroad Administration Office of Safety Analysis and the U.S. Department of Transportation, each year accidents involving trains tally around 7,000 in the U.S. These accidents often occur at railway crossings. Death tolls each year is around 800 and injuries to 3,000 more is usually attributed to the railroad’s own neglect. An accident could be averted if tracks are maintained regularly and warning devices are properly in place.

While you can't pay off grief, if you or your loved one is a victim of a fatal train accident, it is necessary to speak to a legal professional who can assist in providing sound advice and information to any forms of compensation. This includes medical bills, wages and any claims for wrongful deaths that often cause pain and suffering to a victim’s survivor.

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Posted on Friday, January 4, 2013

Sperm Donor Fighting Back Over Support

A Kansas man who donated his sperm to a lesbian couple is fighting back after the state ordered him to pay child support, arguing that he signed an agreement with the women that waives all his parental rights for the now three-year-old child.

William Marotta, 46, of Topeka, answered an online ad on Craigslist.com in 2009 from a then local lesbian couple, Angela Bauer and Jennifer Schreiner, who said they were looking for sperm donors. After several meetings and email exchanges, the parties signed an agreement relieving Marotta of any financial and paternal responsibilities including

The artificial insemination was handled in-house by the women themselves using a syringe. Last year, Bauer and Schreiner parted ways and the former had to seek assistance from the state for the care of her daughter.

Kansas Department for Children and Families spokeswoman Angela de Rocha said that when a single mother seeks benefits for a child, it’s routine for the department to seek out a child’s paternity and require the father to make support payment to lessen costs to taxpayers.

State law on sperm donation and artificial insemination is patterned after the Uniform Parentage Act (UPA) which was first promulgated in 1973 and is still in use by at least 10 other states. The case hinges on provisions for the use of medical professionals to supervise artificial forms of insemination. The original provisions of the Artificial Insemination (AI) statutes clearly state the need for a medical professional to supervise and perform any forms of insemination in order to waive or establish paternal rights through a signed, written contract between all involved parties. Since Marotta allegedly didn’t perform the insemination with a medical professional’s supervision, he can be held responsible for financial assistance received by the biological mother as well as future child support payments.

The Department insists that the agreement between Marotta, Bauer and Schreiner is not valid as the insemination was not performed under the supervision of a physician, a crucial element in the AI statutes of the UPA which does not distinguish between known donors and anonymous donors. Marotta is asking the state to dismiss the case, arguing that he’s involvement is only that of a sperm donor and that, legally, he is not the child’s father.

Several U.S. states, including Delaware, Texas, Washington, North Dakota, Utah, Oklahoma, and Wyoming, have already amended their versions of the UPA to add certain rights to donors not included in the original adopting a new UPA as approved by the National Conference of Commissioners of Uniform State Laws in 2002. This group also recommended that Kansas amend state family laws to reflect changes that give donors waiving rights regardless if the insemination was performed with a medical professional or not.

Experts strongly encourage potential donors to seek out legal information first as to their state’s local family codes and to know what rights they have to avoid any legal issues that could arise.

About The Author

Victor Dela Casa is a Filipino-Canadian who spent over a decade working as business professional in Canada. Worked in IT, finance, marketing, international trade, public service, project management and the maritime industry. Degree in Economics from the University of the Philippines and Honours Diploma from Eastern College.