How to handle the bank account after someone dies

After someone dies, do not rush out to close their bank account right away. As the person, winding up their affairs, it will make your life much easier. Many financial transactions are auto deposited into a bank account and it will be easier if the account is open to receive these funds. In addition, some companies will want a refund for monies given and will debit (take back) the money automatically, making your job easier. You WILL need to notify the bank by bringing in an original death … [Read more...]

Apply for College – A Parent’s Role

When my oldest son was a senior in high school he wanted to “go away” to college and experience the bigger college scene. We live in California and had many wonderful colleges to choose from (as well as affordable in-state tuition) but that was not his desire. None of us were sure if he really had the grades and test scores to get in some places, but we had to let him try. This “process” of applying took about 6 months and here are a few of the lessons I learned that I hope can help … [Read more...]

Learning to Tighten Your Belt

Small business owners...notch your belt! (If you're not a small business owner then this applies to your personal finances.) With the continuing economic crisis in America, you can certainly say that our financial situation is a bummer. No one is even sure when the down-slide will stop. It’s enough to lead a person to do things they know aren’t right! I know for our family and my business, it’s made me stop and take another serious look at what we’re spending. Reconsidering our spending … [Read more...]

Tax Prep Tip: Auto License Fee

Here's another tip to help you save time getting your tax information together for the Tax Preparer! If you use money management software like Quicken, most of us record the annual check we write to the Department of Motor Vehicles to a category like "Auto:Registration". As you make the entry, take the time to enter on the Memo line the amount that is tax deductible. You will find this identified on your bill. Now as you prepare your Tax Organizer worksheets for your Tax Preparer, the amount … [Read more...]

Great article on what a DMM does – American Way magazine

Yes, we are Daily Money Manager's (DMM). Still not sure what we do? Check out this great article titled Money Matters in the February 15, 2013 edition of American Way magazine.  It highlights the services of our colleague in Austin, TX, Elizabeth Ball. We had to chuckle as the stories are spot on! While we do have clients all across the country, most are in the Orange County, California area where we live. Contact us to see how we can help you!   … [Read more...]