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Mind Your Own Business
October, 2016 - Issue #144
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courtesy of Shutterstock

What Happens After a Car Accident
After a car accident, injured parties will be taken to the hospital so their injuries can be treated. If the car accident was relatively minor, emergency medical services may not arrive at the scene. However, you should seek medical attention. Not only can this benefit you physically - many injuries are not detectable until a few days or even a week after the accident - but a medical visit can create a medical record that serves as valuable proof of your injuries.

When both parties are able, they will start the claims process with their respective insurance companies. Filing a claim involves contacting your insurance company either by phone or online and reporting the details of the accident. Policyholders should be able to provide the following information:
• The details of the accident
• Any pictures or records that may be useful in the investigation
• The names of all parties involved
• What insurance company the other driver has
• Police report of the accident (not always required)

After you give your insurance company these details, they will assign your case to a claims adjuster. The adjuster will evaluate the details of the accident, look over your insurance policy and correspond with the other driver's insurance company to arrive at a settlement amount. One thing about insurance companies that you must know: They will do whatever it takes to minimize the value of your claim. Why? Because the less you get, the more the insurance company gets to keep.

Because you can go through the claims process without legal representation, many people wonder why they need a car accident attorney. Here are a few reasons:
• They can deal with the insurance company for you
• They often get their clients much more than the insurance company originally offered
• This may be your first accident, but your firm has handled thousands of car accident cases
• They can ensure all your paperwork is filed thoroughly and on time
• If you were injured after your accident and unable to meet at one of their offices, they can travel to meet you at home, in the hospital or elsewhere
The Law Offices of Gerald L. Marcus 296-2992

When is the Right Time to Rollover a 401k?
Job changes seem to be the norm these days. It used to be that someone would stay at a job for 30 years and retire with a pension and a gold watch. Today, statistically speaking, people will have at least seven different jobs and two completely different careers.

The pension is going the way of disco and is being replaced with a 401(k) type plan - and the gold watch is now gold plated. When the retirement possibility has shifted from the employer to the employee, then we have to take care of ourselves. Your employer sponsored plan, commonly known as a 401(k), is often matched by the employer. As you put your money in, so does the employer. Once you separate from service, regardless of your age, you may take that account and do a "rollover" to your own Individual Retirement Account (IRA).

So when should you do a rollover? It depends. If you may need to borrow from this at some point in the near future, then rolling this into your new 401(k) may give you access to 50 percent or $50,000. If you already have $100,000 or more in your new 401(k), then you may not receive this particular benefit. If you chose to put this into your own IRA, then the location dictates some of the most important features.

The underlying asset of your IRA controls the fees (if any), risk of loss, rates of return and licenses of the person who sells them. If you want to have a greater sense of control over your financial diversification, then rolling over your retirement account may be an option. You may also combine old accounts and have less paperwork to deal with in the future.

By diversifying your accounts, experts say that you can reduce risk and have a better chance of having the money available when you need it. Additionally, you can also decide to take money out of your accounts that grow that year and leave the others for the following year.

Consider having your old accounts in places that you can lock in the gains when the market goes up and get reasonable rates of returns. When the market goes down, you keep what you have earned in previous years. Remember, this is your money and you can't go back to re-earn it again.
Arif M. Halaby, CEP is the President and CEO of Total Financial Solutions, Inc., a financial and insurance services company based in Santa Clarita with offices extending to the San Fernando and Antelope Valleys. 753-9683

courtesy of Shutterstock
courtesy of Shutterstock
An Agency with the Personal Touch
"I would highly recommend this agency. Wendy herself answers the phone and actually speaks with her clients and knows them all on a personal level. Wendy cares about her clients and their true insurance needs. She is not all about the sale. She will give you recommendations to add and even delete insurance if she thinks you are over insured. The customer service at this agency is outstanding. The team members have all worked for State Farm for many years and are super friendly and very knowledgeable! You won't be disappointed here!"
Kim M. of Stevenson Ranch via Yelp.com
State Farm Wendy Collins 296-2068

No Will? California will Give You Theirs
Have you been meaning to create a will or trust but it keeps getting put off? If that applies to you, you should know that the state of California already has a will written for you, so to speak - or mandatory guidelines already in place for you that the state will follow at your death. But is this "will" for people who don't create their own the one you want?

In California's will, the state will require a public notice to be run in the newspaper alerting any potential claimants to your estate to step forward. The state itself has first claim on all of your property to assure that your debts are paid. After your debts are paid, the state will distribute your assets according to California law, oftentimes to people other than those who you wanted to receive your assets. If you own a home, your loved ones aren't likely to have your guidance on what you want them to do with your home. If you have minor children and both you and your spouse die, a judge, not you and your spouse, will make the final call on who becomes the guardian of your children.

For most people, this frightening scenario isn't ideal. Fortunately with proper planning it can be completely avoided. A qualified estate planner will help you preserve your wishes, allowing you to choose what is best for your family and protect the ones you love.
Group One Legal 284-5000

VIA Celebrates 35 years
of Connecting & Building SCV Industry

A band of business leaders gathered to advocate for transportation improvements in the Valencia Industrial Center 35 years ago. A single road led in and out of the center, virtually trapping workers in the park during emergency situations. This group worked for change and an extension of Avenue Scott was built, providing a secondary route for ingress and egress. That was the genesis for what is currently known as Valley Industry Association of Santa Clarita. The pattern has repeated for more than three decades: business leaders have spoken and VIA has listened. Throughout the years, VIA has successfully been the voice of business and industry in the Santa Clarita Valley and on the cutting edge of solutions-based problem solving.

VIA's signature education program, Connecting to Success, is a workplace readiness program training 2,500 high school juniors annually from all area high schools. Students learn financial literacy, business ethics and communicating their value in the half-day workshop. To support the program and the VIA Education Foundation, a nonprofit 501(c)3 organization formed to promote the advancement of education programs and opportunities for the workforce and emerging workforce in the Santa Clarita Valley, VIA hosts THE BASH each year. THE BASH has become one of the must-attend events in the Santa Clarita Valley. On Friday, October 28 at the Hyatt Regency Valencia, guests will relive the glitz and glamour of the 1960s as VIA takes them back in time. The retro-themed evening will be complete with decor and entertainment indicative of the period and the attire is suggested to be black tie or nightclub elegant. Prepare to be swooned by crooner Adam Tunney and his band. There are sure to be lots of martinis, including a signature VIAtini developed by a mixologist in Washington D.C. specifically for the anniversary celebration!

Keeping in theme, VIA is offering virtual "mini-martini" sponsorships available before the event to benefit the VIA Education Foundation. For each mini-martini donation made, it covers the cost of sending one student to Connecting to Success in the fall. Donors will also receive recognition at the event in the tribute book. To purchase tickets or to become a Connecting to Success mini-martini sponsor, visit www.scvtickets.com/e/viabash or contact Kathy Norris.
294-8088
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