3 Kids and Us

Daniel Purjes on Understanding Fair Asset Division in New York

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One of the big problems with the forces is that there is often a lack of agreement on who gets to have which assets. Assets can be anything from a long-standing investment to pillowcases inherited from a favourite aunt. One of the reasons why divorce is often take so long to complete is because it is nearly impossible to develop an agreeable final list. Pick up any edition of the New York Times and you are guaranteed to find at least one main story about a bit of divorce and its terrible consequences. According to Daniel Purjes, this is in part due to the fact that New York is an equitable distribution state.

Daniel Purjes on Equitable Distributions in New York

Equitable distribution means that assets are not divided 50/50 by looking solely at their fair market value. Rather, a lot of other factors are taken into consideration on the court is bound by a number of established guidelines on determining this. Some of the factors that will be considered when dividing the available  marital assets include:

  1. The difference in property and income between the date the marriage started and the date of divorce filings.
  2. The age of both spouses and the length of the marriage itself.
  3. The needs of the child or children in a marriage and those of the parents with custody. For instance, they may have a need to keep the house in order to look after the children properly.
  4. Whether either party has or will lose an inheritance or pension as a result of the equitable distribution.
  5. How much was contributed by each of the parties in order to acquire the contested property.
  6. The potential for earnings each of the parties has.
  7. Any tax consequence associated with dividing the property.

There are strong arguments for and against the concept of equitable distributions. One of the main advantages is that it Focuses on situation rather than on monetary value. It also means people can lay claim to those items that have sentimental value irrespective of what they are worth in money. However, because some of the criteria that define value are quite esoteric in nature, the downside of this type of division is that it can become a long and drawn out process to identify who gets to keep what.

It also clearly highlights the importance of having a good lawyer on board who has an in-depth understanding of equitable distribution and who is also experienced in mitigating and mediating between the two parties. While a divorce can absolutely be amicable, there will always be a degree of bad blood, stress, and heartache, and it is all too easy to be driven by those emotions. A good lawyer will be able to recognise that and act in the long-term interests of their clients rather than two short term knee jerk reactions. Daniel Purjes believes that it is possible for both parties to come out of a divorce reasonably undamaged if they work with and listen to a very good lawyer.

What To Think About Before Purchasing A New Home

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Purchasing a new home is a major decision and not one you should take lightly or determine on a whim. It can be a drawn-out process, and there’s a lot that you need to think about, consider and contemplate before buying a property.

It’s worth your time and energy to find out what these aspects are and then sit down with your spouse and go through them one by one. Ultimately, you want to feel completely comfortable and confident in your choice to buy before you go through with the transaction and spend your money. Keep in mind that once the deal is done, the house is yours and you’re responsible for it from that point on.

Where You Want to Live

Think about where you want to live before purchasing a new home and identify the reasons why you feel this way. For example, this could be your chance to get a new job someplace else and move your family to a new city or neighborhood. Maybe you’ve had your eye on a particular area for a while and always pictured you and your loved ones selecting a home close to good schools and decent shopping. It’s important to thoroughly research various neighborhoods and know exactly what you’re getting before you move in, so you know you’ll be happy there and not regret your decision later on.

Features You Desire

Sit down and make a list of all the features you desire and then put them in priority order. This way you’ll know what to look for when you’re touring homes and narrowing down what you want to buy and can afford. For instance, it could be that you want a large finished basement or big backyard with a lot of land and privacy. Think this through and make sure you’re not settling for any house when you’re out and about and on the hunt. Be patient and wait for what it is you want so that you can truly be happy in your new house one day.

Your Finances & Credit Score

You’re not going to get approved for a loan or mortgage if you have a poor credit score and your finances are all out of sorts. Refer to a company such as Bonsai Finance to learn how to starting building up your credit today, so you come across as a more attractive homebuyer. Think about all the expenses that come with owning a new home and the amount of money you’ll require for a down payment. It’s better to buy a house you know you can afford than to make a purchase with the understanding that you’ll be living on an extremely tight budget from here on out.

If You want the Additional Responsibility

Owning a home is a huge responsibility and is a big commitment you’re signing yourself up for. Think through if you’re ready for this extra work and if you’re willing to put in the time, money and energy it takes to upkeep a home. Your weekends will now entail you making updates, fixing repairs and taking care of your landscaping instead of relaxing on the couch watching your favorite television show. It’s now your job to make sure the home you own stays in good condition and that you don’t let important projects linger for too long.

Working With A Trusted Realtor

You’ll want to seek out and find a trusted realtor who you can work with to help you purchase your new home. They have access to additional listings you can’t see on your own and will be able to get you into the homes you desire to check out quickly. Build a good relationship with this person and make sure they understand exactly what it is you’re looking for in your next property. A trusted and respected realtor can help walk you through the buying and inspection process and make sure you’re getting your monies worth and aren’t being ripped off. Listen to their advice and what they have to say before making any final decisions or commitments.

Your Future

It’s not a wise idea to purchase a home that solely fits your current needs. Instead, think about your future and what your requirements will be down the road. For example, maybe you’re thinking about starting a family and will need more bedrooms in the years to come. Keep in mind that you’ll likely be at this property long-term, so consider how your life might change going forward and if the home you’re considering will be a good option for you. Your goal is to make sure the house you’re looking at it could be the one for you and your family for years to come versus finding a quick fix.

Other Options

You don’t have to buy a house just because that’s what people do, or you see your friends and family members making the commitment. Remember that you always have other options such as staying where you are or renting a property. Think about if this is truly the move you want to make or if you’re happy with your current situation and don’t necessarily need to find a new place right now. If you aren’t in a pinch to relocate then take your time and go about the process the right way, so you don’t make any major mistakes. Check out new neighborhoods, determine if you think you’ll be at your job for the long haul and don’t rush into a commitment just because you’re feeling pressured to buy.

Conclusion

Buying a new home isn’t a decision you make overnight without putting any thought or effort into it. It’s a wise idea to think about all of these factors before you move forward with a purchase, so you feel absolutely comfortable with the end result. Be sure to consider all of the different variables and your options before you proceed and close on a house. You’ll thank yourself for doing so down the road when you’re living in a property you adore and can see yourself staying in for the future.

How to Choose the Best Car Insurance for Your Family

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It has that wonderful new-car smell, it comes with plenty of leg room for all your little ones, and it’s spacious enough to get all of your camping gear without feeling confined for a single moment. It’s a great feeling when you get that awesome ride for you and your youngsters, as you can already envision all the adventures that lie ahead. However, owning a car, especially when you use it to take your kids to school or soccer practice every day, let alone those lengthy trips, comes with a high level of responsibility.

It takes time to get to know your car, to learn how often you need to fill the tank, how well it handles weather changes, and how reliable it is on the road. But all of those factors aside, having a peace of mind means insuring your car properly and for all those specific family needs you’ll have. So, before you schedule your first test fishing trip ride, let’s see how you can pick the right insurance and enjoy your family car hassle-free!

Ask around

Much like with anything else you want to buy and use every day, and especially something as important as this particular safety feature, you want to see how happy other customers may be with any given insurance policy. Talk to your friends and family about their own insurances and see what perks they have, and if any of them are suitable for your own family.

On the other hand, talking to independent repair shops can be another way to learn useful information. They won’t benefit personally whether you go to one insurance company or another, and they have plenty of first-hand experience when it comes to people who have filed claims with many of them. You should always go for financially stable, reliable names in the business, even if some of their rates might be slightly higher.

Check for pricing options

Now that we’re on the topic of pricing, one could assume that the highest price always comes with the most perks, but since you have a specific situation, learning more about your price options depending on the package can make a difference in choosing the right policy.

The key here is not to be lazy or quick to make the call – use this time to get at least three or more quotes from different agencies, in order to evaluate which one fits your budget as well as your needs. Maybe the initial rate could be higher for a particular company, but they might offer reward programs for reliable drivers, or discounts on joint insurance for spouses. Check all the boxes with your insurance quotes before you eliminate your options.

Prioritize your needs

Every family is different, and as you get to know your first family car, you can already understand what you will need your policy to contain both in order to keep it affordable, and to increase safety. Have your car evaluated for its existing safety features and consider all the situations when you’ll be using it. What would an ideal policy ensure in addition to cost-effectiveness for your wallet?

Perhaps a fast-responding customer service for any of your inquires, or a more flexible policy that gives you more wiggle-room in case an unwanted situation occurs. Depending on where you live, you will see if it’s best to focus on fire and hazard protection, or burglary and theft. All these factors will affect the final price range, so make sure to cover your bases and discuss them with your insurance agent.

Know your insurance basics

We’ve already established that there is no templated solution for all family cars, and considering your own situation, you should also start a conversation by getting educated about the basics of each insurance policy. Make sure you know what the legal minimum is for your country, as having third-party protection often is the starting point for each policy. However, you should also protect your family and your vehicle with insurance that gives you access to a courtesy car in case your needs fixing, as well as a rescue service for those unexpected mishaps on the road.

Essentials such as windscreen repairs and replacements and lost or stolen keys are other details to keep in mind, but when it comes to your personal belongings, each policy comes with a different minimum rate they cover. All in all, education is key before you start a conversation with your chosen insurance agency, and it’s best to armed with information so that you find that ideal policy for your new family car!

How to reduce your household expenses

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If you are concerned about your finances, it is important that you act fast to resolve the situation. After all, it’s your best chance of getting matters under control before you are landed in an enormous amount of debt and forced to change your lifestyle drastically. Although it is important to keep living in the way you desire, there should be some areas that you can subtly adjust. Doing so will help you to free up some funds and to pay off any debts. Why not begin with your household expenses? There are so many ways that you can reduce them to secure impressive savings. Below are six suggestions to get you started.

Taking care of your animals

Owning a pet can be expensive. That is why you need to keep your eyes peeled for money saving opportunities. Make sure that you do your research before going ahead with any purchases. For instance, if you are a dog owner, you should think about the meals that you are providing for your pampered pooch. It will give you a chance to compare your prices and to make sure that you are getting the best dog food for the money you are handing over. Once you have made this purchase, you will need to weigh each meal to make sure that you are not overfeeding your pet and wasting precious resources. Another step is to try grooming your animal at home. You could set up a washroom and invest in high-quality products. Although this will be expensive at first, in the long run, it will save you from paying someone else to do this for you.

Completing your weekly grocery shop

Next, you should think about saving money on your weekly grocery shop. If you are going to reduce your household expenses, you can’t afford to be throwing money away. That is why you should never buy a product unless you absolutely need it. You can ensure this by creating a meal plan for each week. Then, you can write out a grocery list that will help you to budget your purchases and to stick to your plan. Instead of relying on a scrap of paper that could easily be lost or torn, you should download a useful app. That way, you have no excuse for wandering off course. You could even download an app that allows your family to add to your list remotely. Creating a list will save you from forgetting any essentials and wasting precious time on a second trip to the store. Although you should be sticking to your list, you should also be on the lookout for any chances to buy items in bulk and to secure a one-off deal. Why not set yourself a financial goal for each week?

Paying your monthly bills

It is likely that a lot of your outgoing expenses involve paying your monthly bills. Whether this is your electric bill or your heating bill, it is vital that you are cutting costs wherever possible. You can do this by getting off the grid and creating your own energy. Not only will this help you to save money, but it could also help to save the environment and to boost the value of your property. If you don’t already have solar panels, now is the time to invest. You could even end up generating enough energy to sell back to the government. You should also invest in comprehensive insulation solutions, as this will prevent valuable heat from escaping your property. Additionally, you should switch your regular light bulbs to LED alternatives and encourage your loved ones to turn off their devices once they have finished with them.

Managing your technology

When it comes to your technology, you should also be evaluating your television subscriptions. If your family likes to explore a wide range of channels, you may be facing a large monthly bill. It is one area where you could be making a huge saving. Firstly, you will need to make sure that you aren’t paying for channels that you don’t watch. You will also need to compare the prices that you could be getting with other providers. Understanding your options could help you to negotiate a better deal, as the company that you are currently with will have to compete for your loyalty. Another thrifty tip is to ask your loved ones to charge their devices in public places. You should also be leading by example and do the same. It will save the sockets in your home from being switched on all the time. Perhaps you could charge your smartphone at your favorite coffee shop or take your power pack along to the local library.

Cleaning your property

Cutting down on your expenses shouldn’t stand in the way of you being house proud. Instead, it should simply evolve your attitude towards cleaning. Instead of hiring outside help, you should establish a chore chart for the whole family to follow. You could also save money by creating your own cleaning products as an alternative to store-bought solutions. Finally, you should endeavor to clean your own car, as this is another brilliant way for you to claw back some extra funds.

Keeping your family entertained

If you spend a lot of money on keeping your family entertained, you should write a list of fun and free activities that everyone will enjoy. Embracing a thrifty lifestyle will help your loved ones to respect their money and to create their own entertainment. Why not hold a weekly family meeting and encourage everyone to bring along at least one suggestion? You could spend time outdoors hiking or walking along the beach. You could attend a cultural event such as an open gallery or a community theatre performance. Or, you could strengthen your family bond by taking part in a charity run or an outdoor team sport. The most important thing is that you aren’t relying on your wallet to have a good time. It may take a little while for you to get used to this change, but it won’t be long until you’re all having fun.

Risky Business: High-Yield Investment Options Only the Truly Brave Should Try

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Investors can either play it safe or go all out and take on a whole load of risk. The riskier an investment is, the higher your return yield could be. Nearly all investors prefer to take on these high-return investments, but cannot manage the risk either financially or emotionally, but if you are drawn to the thrill of this type of investment, there are several risky but potentially lucrative investment methods to consider. As always, investors should weigh the risk against potential returns. When seeking massive returns, investors risk becoming gamblers, therefore, understand the exact amount of risk you face if you continue to seek over-the-top returns.

Buying and Selling Stocks Daily

Playing the stock market every 24 hours, known as day trading, is a highly risky form of investing, however, savvy traders can have their lucky break and possibly even become millionaires overnight. Traders tend to have an infamous reputation because they are taking on massive amounts of risk when buying stocks. Selling off purchased stock is never a guarantee. Regardless of these problems, professional traders can enjoy massive paydays, so the practice remains popular. Anyone can become a trader if they know the risks and understand that they could lose all their money. That’s not to say that you would. But if a trade goes wrong, you should be able to withstand the loss financially and psychologically. Start trading with a set amount, such as $1,000, that you can easily earn back. Never buy stock with money you actually need.

Investing in Emerging Markets

An emerging market is a country undergoing rapid economic development after years of underperformance. The biggest emerging market in recent history is China. There are many such countries today that could be categorized as emerging markets for investors to fund. Investing in an emerging market can really pay off, as seen in countries like China and South Korea. However, this can also go the other way. A prominent example is Brazil, once lauded as a major world economy that has since fallen apart due to corruption and violence. Emerging markets exist in countries with young governments and a history of war and unrest. The drawback, however, is that these very problems could crop up once more, threatening economic gains. War and unrest are certainly not elements that draw in investors. Despite these obvious risks, investing in an emerging market can pay off if the country continues to be successful. Think China. However, there are inherent political risks that cannot be shaken off. You should invest in emerging markets only if you can take on unexpected political risks.

High Yield Bonds

High yield bonds can be issued by either governments or companies. These bonds have one characteristic—extraordinary returns. For these eye-popping returns, the investor would be taking on extraordinary levels of risk as well. The problem with high yield bonds is that nearly 10 percent of them are junk bonds—worthless at the end of the day. Investors may double the risk of principal capital loss if

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We left our home in Sydney, Australia many moons ago in May 2012 and, other than a brief stint back in Perth for Christmas and a wedding in early 2014, we have been travelling the world nomadically ever since, running a business from our laptops and we’re here to show you how to do it!