From the monthly archives:

May 2008

Birthday parties are a lot of fun for the birthday boy or girl as well as all of his friends and family. He gets to be the center of attention for an afternoon, or evening, and enjoy whatever fun topics you have planned for them. The only problem for you is often keeping the cost of the big day under control. Although you want him to have a great day, you probably don’t have a bottomless pocketbook to fund the birthday party.

Don’t worry; there are plenty of great birthday party ideas that won’t require you to take out a second mortgage on your home. With a little creativity and some planning, you can plan a party that will be the talk of the neighborhood.

Movie Night (Day) Party – Everybody loves going to the movies, but taking eight or ten kids to the theater can be awful expensive. Add in the cost of munchies and you’ll quickly exceed your party budget. Instead of going to the theater try hosting a movie party for the kids at your house. Rent a favorite movie and order pizza.

A Day in the Country – A country-themed birthday party will be a favorite with the younger crowd. Give each youngster a bandana (They’re really cheap at craft stores like Hobby Lobby or Michael’s.) when they arrive. The bandanas can be tied around the necks of the boys or over the girls’ hair. Play old-fashioned games like Pin the Tail on the Donkey or Hot Potato. You can serve simple food like cheese cubes or apple wedges.

A Proper Tea Party – Little girls will love dressing up and having a tea party. Dust off the tea cups that you never use, or buy inexpensive ones from your local thrift store. Unwrap the iced Little Debbie snack cakes and stack them on a serving dish to resemble the sweet cakes.

Super Spy Party – Give your youngster and his friends permission to be sneaky for a day by hosting a birthday party with a spy theme. You can help them write messages in secret code for an activity. Pick up inexpensive sunglasses at the dollar store to help the kids remain incognito.

Sleepover Party – There’s something about hosting a sleepover that is just timeless. Plan to have plenty of snacks and rent a few movies for the youngsters. Just make sure you set a final “lights out” time or you may be up until dawn.

Sports Party – A sports-themed party is always a good idea for a boy’s party. Games are easy; you can just organize a friendly game of soccer or kickball in the backyard. Food can include the hot dogs and popcorn that you typically buy at a baseball game.

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As you make plans for the distribution of your assets after your death, you’ll hear the words “will” and “trust” often. Each is a very effective way to take care of your estate, but their similarities end there. Which one is for you? Although there is no easy answer, a little information about each will help you as you evaluate your needs.

Wills

 

Wills can be written by a layperson without a law degree.

Wills can be updated simply by creating a new one.

Wills become matters of public record, so all of your assets will be publicly disclosed.

The use of a will requires that your estate pass through the probate process prior to transferring your assets to your beneficiaries.

If your estate is small, probate fees may be less expensive than paying to set up a trust.

Trusts

 

 

Trusts must be drafted by a lawyer.

Trusts, once formed, are an actual legal entity.

Changes in assets and beneficiaries will be made to trusts by a lawyer.

Since the formation of a trust is a private matter, your assets will usually not be available to the general public.

Assets in the trust pass to your beneficiaries at the time specified by you.

A trust allows you to name anyone as your beneficiary regardless of their relationship to you.

If you have assets in different states, a trust allows your estate to avoid passing through multiple states’ probate procedures.

A trust can be written to allow a business you own to continue operating after your death.

To work properly, you must “fund” your trust. You must change the titled owner of your assets from “John and Jane Doe” to “The Trust of John and Jane Doe.”

Trust can dictate the management of your assets in the event of a serious illness.

Deciding how you want to plan for your estate is a tough choice. There are many more things for you to weigh than the highlights listed here. After evaluating the features listed, consider consulting an attorney to help you determine which option is right for you.

 

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