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Articles "UGMA" and "UTMA" in Action Parents who would like to give property to their minor children may be unaware of their options regarding the ways in which property can be held for the benefit of their children. Essentially, there are only four ways in which a parent can give property to a child: 1) give it outright; 2) give it in a trust; 3) give it by means of a guardianship; or 4) give it through the use of a custodial account. A New Name in College Savings Plans The average price tag for four years at a private college exceeds $120,000, according to the College Board's Trends in College Pricing 2006. That's 35% higher than just five years ago. In fact, rising tuition costs are outpacing inflation, while federal grant aid is lagging behind inflation. Year-End Housekeeping The end of the year provides an ideal opportunity to reflect on the status of your personal finances and review your evolving goals and objectives for the year ahead. more articles

Tips & Takes Types of Life Insurance Beneficiaries In the language of life insurance, a beneficiary is the recipient of the proceeds of a policy when the named insured dies. Life insurance beneficiaries are typically categorized as primary or contingent. A primary beneficiary is entitled to the proceeds of the policy upon the death of the insured, but such rights expire if he or she dies before the insured. A contingent (or secondary) beneficiary is entitled to the policy proceeds if the primary beneficiary has predeceased the insured. A beneficiary can also be either specific (a person identified by name and relationship) or a class designation (a group of individuals such as the "children of the insured"). While the naming of specific beneficiaries is usually clear-cut, unintended complications can arise when designating classes of beneficiaries. The owner of a life insurance policy has a great deal of flexibility in naming beneficiaries and can generally name anyone he or she chooses. When making beneficiary decisions, it is important to ensure that the wishes of the policy owner are fulfilled and that legal complications are avoided. CRM200801-2012557