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How To Select a Fiduciary Adviser

Choosing a financial adviser that can serve as a fiduciary is an integral part of securing your financial future. A fiduciary should Manage Your Finances Act in Your Best Interest Avoid Conflict of Interest Have Proper Credential It is essential to take time and care when choosing who will manage your finances. Here are questions to ask before selecting a fiduciary adviser. What Services Do You Provide? Financial advisers can perform their services under two standards:  suitability or fiduciary. Under the suitability standard, their only requirement is to offer appropriate advice for your particular circumstances. Fiduciary advisors must put their clients’ best interests before their own. How Will I Pay For Services? Brokerage firms typically fall into the category of suitability, meaning they earn their fees through commissions on investments and work to make money for themselves and you. On the other hand, fiduciary services put the best interests of their clients first and earn flat fees for their work. This method of payment helps reduce conflicts of interest. Who Do My Friends and Family Use? Once you decide to use a fiduciary to manage your financial interests, you may wonder how to find one. The best way to start is by asking family or friends for recommendations. When it comes to personal finances, most people will be happy to share their positive experiences and just as willing to tell you what and whom you should avoid. What Are Their Credentials? Although getting referrals from people you trust is an excellent way to find a fiduciary, it is always best to undertake thorough due diligence. Before trusting others with your finances, check to see if they are members of the National Association of Personal Financial Advisors (NAPFA). This organization has stringent requirements for fee-only fiduciary financial advisers. How is My Money Invested? Hiring others to invest your money doesn’t mean you should not be in the loop concerning how they do this. The fiduciary you are considering should be willing to discuss all strategies regarding how to grow your money. How and When Will I Receive Updates?  If you hire someone else to manage your money, you will want to establish methods of communication and updates about investment strategies, returns, losses and anything that affects your finances. You should expect quarterly updates, at a minimum. A team consisting of a estate lawyer, like from the Yee Law Group, and a fiduciary adviser...
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How Can I Apply for Temporary Spousal Support?

The intention of temporary spousal support or “temporary alimony” is to reasonably maintain the same standard of living for both parties after divorce. An attorney can help you file a temporary alimony order, where a request is sent to the court about getting help paying for certain expenses or bills covered by the other spouse. To submit such written documentation, means that a “motion” is filed to the court regarding the issue. Upon receiving this paperwork, the court will likely schedule a hearing for both spouses to attend.  Reviewing Financial Information Before the court can rule on this request for temporary alimony, they will need to review imperative documents pertaining to each spouse’s finances. An attorney can give you information about what kinds of documents the court is likely to need. Both spouses are to fill out financial disclosure forms, which should be plenty of details about income, debts, expenses, and assets for the court to evaluate. This will give the court a good idea of each spouse’s financial standing.  Determining Whether Request is Granted After reviewing requested documents, the court will also consider the points made by each side. Based on the information provided, if the court believes that awarding temporary alimony is justified, then they will assign a monthly payment to the paying spouse. The outcome of a temporary spousal support hearing isn’t always certain, as it can be difficult to figure out what the judge will do, but an attorney can work relentlessly for your behalf.  The Use of a Formula In some states, courts use a formula to decide temporary spousal support. It is similar to what a judge may use for child support disputes too. However, if the state doesn’t use a formula for alimony, then the judge can attempt to be as fair as possible. The judge may strive to calculate an amount that reasonably satisfies the financial need of the recipient spouse, while not causing financial hardship to the other.  How Long a Temporary Spousal Support May Last Once the court issues a temporary spousal support verdict, it usually is in effect only until the divorce case ends. In some instances, it may carry on after the finalization of the divorce, essentially turning into long-term alimony. An attorney understands how confusing this all can be if you are not familiar with the topic of family law. We can hopefully put your mind...
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What to Do When Injured in an Uber Accident

Getting injured in an accident with an Uber driver is a serious situation, regardless of whether you are the passenger or another driver on the road. Uber has a million-dollar policy to cover those injured by their drivers, but this doesn’t always apply. Certain factors have to be met to receive any compensation, and even then, you can only receive up to a million dollars. If your injuries cost more, you’re out of luck. Here’s what you need to know about getting in an accident with an Uber driver. From the Passenger’s Perspective As a passenger, you are always covered by Uber’s insurance policy up to $1 million. Uber’s policy only applies to those injured by the driver when they are at work, meaning they must be on the way to pick up a passenger or currently transporting one. Since you are that passenger, you’ll always be covered. From Another Driver’s Perspective Things can be a bit trickier for other drivers. The only way you can file under Uber’s insurance plan is if the Uber driver was on the clock for the company (aka, Uber was financially benefiting from the driver’s actions when the accident occurred). If the driver was not carrying a passenger or on route to get one, then they were technically not working (even if they were just waiting for a request). When this happens, you can only file a claim with the driver’s personal insurance, not Uber’s. All Uber drivers are required to have their own insurance, so this shouldn’t be an issue. After the Accident Passengers and drivers alike can take similar steps to ensure they have documented all information about the accident. Always call the police first, even if the damage seems insignificant. With a large company like Uber potentially liable, you want to have a police report to verify the accident. If you are an Uber passenger, don’t assume your driver is going to do everything correctly or in your best interests. Take pictures of the scene, get medical attention, collect witness statements, and request the drivers’ information, like contact and insurance. Car Accident Lawyers Uber is a massive company with a lot to lose, so it shouldn’t be surprising if they decide to fight you on a claim you make with their insurance. Contacting a car accident lawyer, like from John K. Zaid & Associates, who has dealt with such corporations...
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