Equifax

Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter

 

Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

6 Biggest Estate-Planning Mistakes You Can Make

Written by Dan Solin on August 10, 2010 in Retirement  |   No comments

6 Biggest Estate-Planning Mistakes You Can Make You have worked hard all your life. You love your heirs and want to provide for them after your death. You have good intentions. Yet most Americans make critical mistakes in their estate planning that eviscerate their wealth…

Estate planning mistakes6 Biggest Estate-Planning Mistakes You Can Make

You have worked hard all your life. You love your heirs and want to provide for them after your death. You have good intentions. Yet most Americans make critical mistakes in their estate planning that eviscerate their wealth and leave their heirs scrambling to figure out what went wrong.

Here are the biggest estate-planning mistakes you can make:

1. Not having a will.
This is the big one. If you don’t have a will, much of your estate will enrich creditors, lawyers, and Uncle Sam. If there is anything left, it could be distributed to people you never intended to receive it. If you do nothing else, don’t ignore this advice: Prepare and execute a will immediately!

2. Not taking steps to avoid probate. All most people know about probate is that it’s something to be avoided. They’re right. The process can be arduous, lengthy, and expensive. A competent trusts and estates attorney can help you avoid probate by creating a living trust. A living trust permits you to sidestep probate court for all assets in the trust, which can include your home.

You should also ask your estate-planning attorney about an irrevocable trust. Once you transfer property to an irrevocable trust, you lose all your rights of ownership and control (unlike a living trust, where you retain control). Irrevocable trusts can be powerful tools to avoid estate taxes. Assets in these trusts are generally immune from both estate and income tax, as long as you do not receive any benefit.

3. Not naming a beneficiary for retirement accounts. You can easily avoid probate for your retirement accounts. All you have to do is name one or more beneficiaries (which could be your living trust) on the accounts. Upon your death, these accounts will pass directly to your designated beneficiaries. Just be sure to keep your beneficiaries current—otherwise, your ex-wife could be in for a windfall!

4. Not establishing payable-on-death accounts. Cash accounts will pass directly to whoever is designated in a “payable on death” form, without going through probate. Ask your bank, credit union, or savings and loan association to provide you with the correct form.

5. Not establishing transfer-on-death registrations. Taxable stocks, bonds, and brokerage accounts can be transferred without probate. You need to register your taxable accounts in what’s called a “beneficiary form.” Your financial institution can provide you with the correct form. The beneficiary has no right to the account until your death.

6. Not having a prenuptial agreement. I know it’s not romantic, but you should have a prenuptial agreement, particularly if you have remarried later in life. A prenup can limit or waive one party’s right to a statutory share of each estate. If you don’t have a prenup in place, upon your death state law may give your spouse certain rights in your assets, regardless of how they are titled and regardless of your intentions. Because prenups have serious legal ramifications, both spouses should have separate, independent legal representation-this is not a DIY project. Keep the original with your estate-planning documents.

Dan Solin is a Senior Vice-President of Index Funds Advisors. He is the author of the New York Times best sellers The Smartest Investment Book You’ll Ever Read, The Smartest 401(k) Book You’ll Ever Read, and The Smartest Retirement Book You’ll Ever Read. . His latest book is Timeless Investment Advice.

Watch Dan on YouTube.

Follow Dan Solin on Twitter.

Read More:

529 College Savings Plans Are Best For Saving For Your Grandchildren’s College Education

Bonds and the Bonds Market: A Basic Primer

The Volatility Index – Much Ado About Nothing

Annuities: The Good, The Bad, and The Ugly

 

No comments yet


Leave a Comment


Name :


Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.


Retirement Archive