Mind Your Own Business
January, 2020 - Issue #184
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courtesy of shutterstock

When Considering your Estate, You must Plan for Minor Children
Minor children are the most important part of a young family, more important than property, financial assets or - anything! Unfortunately, many young families fail to engage in estate planning to protect their children because they believe it's only about assets.

All parents with minor children, with or without significant assets, should have a child-centered estate plan. A child-centered estate plan is one that considers who will raise your children and how your estate will be held for their benefit. Without child-centered estate planning, you are giving up your right to have your children taken care of the way you approve.
In addition, failing to provide an estate plan for the assets passed to a child could have their own problems. The probate court and attorneys will be permitted to assess fees for probating the estate and management of the assets. The assets might be controlled by someone irresponsible or someone who might misuse the assets. If any assets are remaining once the child reaches 18, they receive all the assets as a lump-sum.

Unscrupulous people may take advantage of your immature and financially-inexperienced child to further squander their inheritance.

Planning for children is easily incorporated into estate plans of any size. It can alleviate much of the worry and stress involved with leaving a child prematurely.
Attorney Michael Yeager 471-2177

"Gerry Marcus and his team handled my case with care and respect, eventually
getting me an outcome FAR BEYOND MY EXPECTATIONS. They were easy to work with and left no stone uncovered. It felt great having a team on my side that I felt confident were working as hard and efficient as they could on my behalf. If you're anything like me, the complexity of the legal system daunts you, and having Gerry Marcus and his team work for you takes out all of the accompanying anxiety and frustration.
Would recommend for anyone in the market for a personal injury lawyer."
~five-star review from Grant N. via Yelp

The Law Offices of Gerald L. Marcus 296-2992
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courtesy of shutterstock

College of the Canyons Business Accounting Students
to Provide Free, Certified Tax Preparation Services

If you made less than $65,000 in 2019, you may qualify to have your federal and state income tax returns filed for free by College of the Canyons business accounting students who are certified with the Internal Revenue Service (IRS).

Offered through the federal government's Volunteer Income Tax Assistance (VITA) clinic, this free tax preparation service will be offered every Saturday from February 8 through April 11.

"The VITA clinic provides a valuable service to local community members and gives business accounting students with hands-on working experience in their chosen field," said Ali Naddafpour, a business and accounting instructor at the college. "Our VITA students are certified to prepare and e-file federal and state income tax for qualified individuals."

The VITA clinic will be open from 9am to 5pm every Saturday through April 11 in Hasley Hall (Rooms 233 and 234).
The VITA volunteer program is sponsored by the IRS and designed to help low- to moderate-income households. Experienced tax practitioners and IRS agents will also be on site to assist with quality review.

Individual sessions may run one to two hours in length. While walk-ins are welcome, appointments are recommended. Parking will be free in all student lots during VITA's hours of operation.
For more information, visit Call to make an appointment. 362-3330

Don't Miss the Deadline for End-of-year Tax Write Offs
You have until December 31, 2019 to make your nonprofit contributions count towards this year's taxes. Santa Clarita organizations rely on these donations to provide local services to our community. Please consider donations of any amount directed towards SCV nonprofit organizations - they make our town better!
courtesy of shutterstock
courtesy of shutterstock

New Year's Resolutions that'll Help You Stress Less
Sure, dropping a few extra pounds or sending thank you notes more often are wonderful goals for the new year (And new decade!) - and they're so social-media friendly! More boring, perhaps, but also more important: getting your insurance "ducks" in a row. These are the "adulting" tasks that, once completed, will help you stress less - no matter what life throws at you (Feel free to send a thank you note to your favorite insurance agent after you're done!).

Determine if You Need Property Insurance
Did you get or give a pricey piece of jewelry this holiday season? Does your home business carry inventory? There are plenty of reasons you may need property insurance - and chances are, you don't even know half of them. Before you incur a loss you can't easily afford to replace, talk to a reputable agent.

It's Time to Talk "Fire"
Santa Clarita social media was recently abuzz with talk about residents receiving letters from some insurance carriers about discontinuing fire coverage. If you were one of them - or even if you weren't - you need to know about all your options, including how to reduce your cost for this coverage when you can (Here's a hint on how: Bundle! Adding auto and home insurance can bring costs down significantly.).

Find Out if your Existing Coverage Covers Everything You Need it To
The best rule to insurance: Make sure there are no surprises! That means having a conversation with a trusted agent who can give you honest feedback on your needs. Life changes - like new babies, new spouses, new jobs and more - may require you to re-evaluate your life and even auto insurance. Don't wait until there's an accident to ensure you are adequately covered.
Wendy Collins of State Farm 296-2068
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