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Sad Couple in Financial TroubleThe signs aren’t looking too good for the American economy. We may have a recession that could go into 2024. It promises hard times for many people, and those facing bankruptcy will be the hardest hit.

Bankruptcy happens for many reasons. It is embarrassing, but sudden emergency expenses sometimes drain checking and savings accounts. An employee facing this type of threat to financial wellness must follow some essential steps to prevent a full-scale catastrophe. Here we suggest: Continue reading

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Woman in home office with computer using telephone frowningEffective communication is a necessary quality for any employee benefit plan. It does not help if assistance is only provided with a webpage; employees have a right to expect more. Some issues require a person to be able to express individual concerns and seek remedies. An employee benefit that has sensitive and effective communication is helpful and appreciated.

Countrywide Pre-Paid Legal Services offers group legal plan benefits for organizations of all sizes. We have done this for years and know from experience that communication tools are necessary to provide high-quality service; we value excellent communication and provide our attorneys with the essential tools.

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stockfresh_5532754_home-mortgage-concept_sizeS-300x300Buying a home is a lesson in large-scale investing. A person goes into mortgage debt to purchase a home that will appreciate in value as the years go by. The first time anyone buys a house is a learning experience where major mistakes are possible. It helps to know who participates in house buying and what situations must be avoided. We suggest the following ideas.

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handshake_businessman_refferal_lawyer-300x138Group legal plans will offer services that help employees manage everyday legal situations. For example, the vendors will assist in drafting simple wills and living wills. Sometimes, the language could be more straightforward. For example, a plan member might need help figuring out who is an executor instead of someone who has medical powers of attorney since both are legal positions. Here are the differences.

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Consumers rely on credit cards to make numerous transactions, and retailers encourage the use of plastic. It is convenient and easy to process, but identity theft is a severe problem. It is why credit monitoring is a critical service.

Good credit monitoring can detect signs of identity theft, alert consumers to changes in credit reports, and detect errors in the reports consumer receives, allowing a person to take action as soon as possible. Monitoring credit reports helps an individual improve credit scores and promotes peace of mind. Continue reading

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stockfresh_4170119_what-is-next-black-marker_sizeM-300x200Some significant changes in college debt will take place in the coming months. First, the US Supreme Court is expected to rule on the Biden Administration’s loan forgiveness plan on or about June 30. In addition, the student loan moratorium is due to expire on August 30. Either way, the college debt situation for many employees will be affected.

 

The moratoriums have certainly helped, but people may have stopped expecting to provide a monthly payment. If payment requirements start up again on September 1, these same people may need help. It is crucial, therefore, to be ready for any possible outcome to avoid problems with financial wellness. Here are some ideas: Continue reading

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Negotiating Medical Bills

An organization’s group health insurance plan protects an employee from the burden of the total cost of a surgery or medical procedure. However, it does not necessarily mean the employee pays nothing. There are copayments and deductibles that need to be met, and these can be substantial. Family coverage is ordinarily available, but paying for a loved one’s medical bills has unique problems.

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stockfresh_181218_last-will-and-testament_sizeS_72a2cb-300x225A simple will is a testament to what a person wants to be done with their estate once they have died. The document is no more than six pages long and, if properly drafted, will ensure a person’s wishes are fulfilled. However, some things need to be in the paperwork to make the document better enforceable. Here are some improvements a person can make to a simple will that ensures their wishes are carried out as intended. These improvements include:

  • Alternative beneficiaries should be there. It’s vital to name alternative beneficiaries in case the primary ones died before the testator or are unable or unwilling to inherit their portion.
  • The will ordinarily distributes the estate in equal shares among the beneficiaries. If the testator wants to leave specific amounts of money or assets to particular individuals or organizations, these must be included in the simple will.
  • An executor has to be appointed so that the terms of the will are carried out. That person must be someone who is both competent and trusted.
  • Provisions for minor children. This is essential if the testator has little children since their care and guardianship need to be provided if both parents pass away.
  • Tax implications are going to play a role in estate distribution. Therefore, it is essential to consult with an attorney or accountant to be sure that the estate is structured in a tax-efficient way.
  • Regular updating. Drafting a will is one thing, and maintaining it is another. Regular updates will make necessary corrections due to marriages, divorces, changes in assets, births, or deaths of any beneficiaries.

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Folks are easily exasperated by their experience with government agencies. People do not understand why everything is so complicated and sometimes give up on obtaining the needed services. However, there are reasons why government services are not readily obtained, and there are ways to get them successfully.

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stockfresh_8961920_students-watching-together-a-funny-online-video-on-a-laptop-duri_sizeS-1-300x200College debt will cause a young employee to panic. A five- or six-figure loan obligation can compel anyone to make drastic decisions, including foregoing marriage or buying a house. However, there are ways to manage college debt that does not require destroying your financial future. One possibility is a repayment plan.

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