Aequus Newsletter
May/Jun 2010
10 Ways to Help Your Kid Build a Lifetime Emergency Fund
One of the most effective financial tools you can give a child is an appreciation for an emergency fund and the advice on how to build it themselves. An emergency fund should contain 3-6 months worth of money to cover living expenses – its main focus should cover all loss of income, not just a car payment or a refrigerator repair. With parents losing jobs and college expenses continuing to grow, the younger you can get a person started, the better.
Families and Property Inheritance: A Top Ten List for Decision Making
Everyone seems to agree that family members need to talk about potential changes in health, inheritance, and estate planning issues before there is a crisis or someone is unable to communicate. But quite often, spouses, aging parents/in-laws, siblings, and adult children fail to initiate these important conversations. Communicating and advance planning can reduce feelings of guilt and misunderstandings. It can also lessen the potential for conflict that family members often experience when they are put in the position of making decisions for others.