What is DTI? If you are applying for a home loan, you will likely hear the term DTI. DTI stands for the debt-to-income ratio. Your debt-to-income ratio tells lenders how much money you owe other [...]
How to make a competitive offer on a home? In a buyer’s market, you may be able to make a low offer, tack on additional contingencies, and ask the seller to pay closing costs. But, [...]
Optimizing finances doesn’t have to be difficult. There are countless smartphone apps for both Android and iPhone users that can help you manage your personal finances. Here, we’ll discuss seven of them. 1. Flipp Food, [...]
Ordinarily, if someone transfers assets in which he or she retains an interest, the value of the retained interest is ignored for gift tax purposes. In other words, the value of the gift is the [...]
It can be a thrill to be a first-time home buyer, but might also be a challenging experience. Unless you have done a lot of research, the home buying journey can feel overwhelming. Don’t make [...]
What is the difference between testate and intestate? A person who dies without a will is known as dying intestate. But, if someone passes away with a will is known as dying testate. The most [...]
While applying for a home loan, at first, it may seem like mortgage professionals are speaking a foreign language. You will probably hear terms like PMI, LTV, and FICO thrown around and wonder if you [...]
The object is to keep assets in the qualified plan or IRA and defer tax as long as possible. To do this, you delay distributions by the owner and name beneficiaries who qualify for extended [...]
Avoiding Probate Many people want to avoid probate for the following reasons: It is expensive. It takes time. It is public. An estimate of the value of your assets is filed, and an [...]
People can give property directly to their grandchildren and keep the property out of their children's taxable estates. Because of this, Congress enacted the generation-skipping tax on lifetime or death gifts that skip [...]
