You don’t have to be a CEO or multimillionaire to benefit from a trust. In fact, many people gain advantages from establishing one – so it may be useful to learn something about this common estate-planning tool.
Why would you want a trust? For one thing, if you have highly specific wishes on how and when you want your estate to be distributed among your heirs, then a trust could be appropriate. Also, you might be interested in setting up a trust if you’d like to avoid the sometimes time-consuming, usually expensive and always public process of probate. Some types of trusts may also help protect your estate from lawsuits and creditors. Currently, only a small percentage of Americans will be subject to estate taxes, but estate tax laws are often in flux, so things may be different in the future – and a properly designed trust could help minimize these taxes.
Shock and dismay were heard from Bristol Bay fishermen when they finally got word last week that major buyers would pay 50 cents a pound for their sockeye salmon. That’s a throwback to dock prices paid from 2002 through 2004, and compares to $1.20 advanced last year ($1.33 on average after price adjustments).
A late surge of reds produced catches of nearly 13 million in its final week, bringing the total by July 23 to 34.5 million fish. The fish were still trickling in, and state managers, who called the season an “anomaly,” said the final tally will likely reach the projected harvest of 37.6 million sockeye salmon.
by Edward Jones Matthew North Financial Advisor What’s your most valuable asset? While you are still working, this asset may actually be your future income — so you need to protect it. And you can do so by maintaining adequate life insurance, which can help provide your family with the financial resources necessary to meet […]
The world’s biggest sockeye salmon run at Bristol Bay went from “bust” to “unbelievable” in one week.
Landings last week broke records every day for five days for that time frame, bringing the total sockeye catch to nearly 28 million fish on an unusually long-tailed run — and the reds were still coming on strong.
That had overloaded processors scurrying to replace workers they’d sent home the previous week when the big forecasted run was deemed a no-show. The late surge of sockeyes also left many fishermen frustrated with limits to their catches, while tenders were trekking the abundance of reds to other regions for processing. It remains to be seen how long the run will last, and if it will produce the 38 million projected catch.
Contributing to an IRA can help you build some of the resources you will need to enjoy a comfortable retirement. But what happens to your IRA if you don’t use it up in your lifetime?
You can still put the IRA’s assets to good use — as long as you’ve made the right moves and communicated your wishes clearly to your family.
When you opened your IRA, you should have named a beneficiary — someone who will receive the IRA assets when you pass away. You could also name a contingent beneficiary if the first beneficiary dies before you. These beneficiary designations are important because they can supersede the instructions left in your will.
If you name your spouse as beneficiary of your IRA, he or she has options unavailable to other beneficiaries. Here are two possibilities:
Kodiak volunteers were scrambling with front end loaders and dump trucks to ready 200,000 pounds of super sacks for the first pick-up of a massive marine debris removal project that begins in Alaska this week.
The month-long clean-up — backed by a who’s who of state and federal agencies, nonprofits and private businesses — will deploy a 300-foot barge and helicopters to remove thousands of tons of marine debris from some of the world’s harshest and most remote coastlines.
It’s that time of year when many of us hit the road for a summer vacation. If you are fortunate, you will be joining them — after all, “all work and no play” is a difficult way to live. But while you may not think it beneficial to work all the time, the same can’t be said of your investments and your investment strategy — because, ideally, they should never stop laboring on your behalf.
How can you avoid “taking a vacation” as an investor? Here are a few ideas:
“Upcycling” seafood byproducts is the business model for “Tidal Vision,” a Juneau-based company of five entrepreneurs who are making waves with their line of aquatic leather and performance textiles.
The start-up is making wallets, belts and other products from sheets of salmon skins using an all-natural, proprietary tanning formula from vegetable oils and other eco-friendly ingredients.
What’s your most valuable asset? While you are still working, this asset may actually be your future income, so you need to protect it. And you can do so by maintaining adequate life insurance, which can help provide your family with the financial resources necessary to meet critical expenses — such as mortgage payments, college tuition and so on — should you pass away prematurely.
But what type of insurance should you purchase? There’s no one “right” answer for everyone, but by knowing some of the basics of different polices and how they relate to your specific needs, you can make an informed decision.
As Alaska’s salmon season heads into high gear, a few bright spots are surfacing in an otherwise bleak global sales market.
Sales and prices for all salmon (especially sockeye) have been in a slump all year. And amidst an overall glut of wild and farmed fish, Alaska is poised for another huge salmon haul, with the largest run of sockeye salmon in 20 years predicted along with a mega-pack of pinks.