Personal Finance

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Personal Finance

Personal Finance

Answer 1

As I begin my personal financial plan, I will start with my goals for different points in my life. This will outline the overall plan for getting my finances in order. Even though I may not have enough time to complete my goals, completing my goals are important because of financial well-being and being able to retire comfortably.

I will start with my long-term goals for my future. One long-term goal is that I need to pay off high interest credit cards. The second long term-goal is that I need to pay off school loans that I and my son have acquired while going to college. An extremely important long-term goal is to pay off my home mortgage before I retire. By retirement we will possibly be in need of a new car to see us through retirement.

The next set of goals is my intermediate goals. First, I need to pay off my goal in the next couple of years. Paying off my car is high on my list as it will help to ensure of a few of my long-term goals. Another intermediate goal is to pay off my son's braces before he graduates. There will be college bills after that.

Short-term goals are goals that I need to complete within the next year. First is paying off the small store circulated credit cards that I have acquired over the years. After that I need to purchase a new laptop to help with my schooling. I will also have to pay for my son's senior pictures. Most important is at hand now, Christmas presents. I need to pay for the gifts that my family believes they are in need of.

Child Benefit is a tax-free payment that one can claim for their child. It is usually paid every four weeks but can sometimes be paid weekly. There are separate rates payable for each child. The payment can be claimed by anyone who qualifies, whatever their income or savings.

Answer 2

In case of a lawsuit or unpaid debts, it is not uncommon for courts to order seizure of Shares which the debtor may have in companies. In this way the creditor's rights are that the debtor had in such companies. With a Harold Johnson the case is different. In these businesses are not clearly separated the capital of the company's management, as for example in a corporation. This means to gain control over the shares in the LLC, usually also imply certain responsibilities regarding the management and daily operations of the company. This could cause problems if any number of partners, as they suddenly find themselves with a complete stranger to the organization participating in its management (Keatinge ,384).

For this reason in the multi-member LLC, the courts usually do not allow the seizure of the debtor's shares in the company, but merely to allow what is called charging order. This entitles the creditor to collect all the company to pay dividends to the debtor until the debt is ...
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