Why You Should Cover Your Carolina Home With an Umbrella

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Happy family with umbrellaWhy should your home need an umbrella? Well, when litigation rains (and it seems to reign king in society these days), you’re going to want to make sure your home and all your assets are covered. An umbrella policy may be the extra coverage you need.

Especially for homes and families that have pools, dogs, teenagers, motorcycles, boats or RVs, lawsuits are the rain cloud that’s always hovering nearby. One accident, and you could end up paying with your current assets and your future earnings.

Homeowners insurance and auto insurance will cover some liability, but they have there limits. According to the

Equifax Personal Finance Blog, that’s where an umbrella policy steps in. It protects assets and income when the limits on your basic policies have been reached, plus it will step into some situations your other policies won’t touch.

The Equifax article, written by insurance expert Linda Rey, is titled “

Umbrella Insurance: The FAQs.”  It says that some things an umbrella policy might cover where you would otherwise be left on your own are overseas claims, non-business-related personal injury cases, and liabilities that occur off your property.

Umbrella policies are sold in increments of $1 million, and you may think you don’t need one because you simply don’t own that much stuff. However, when you add the value of your Carolina home with your investments, assets, future earnings potential and even your future pension income, you may be surprised at how much you have to lose.

The good news is that you may be able to get a discount on your policy. Try purchasing auto, home and umbrella insurance from one provider, and you should receive a cut in your premiums. And that doesn’t count what you will save on peace of mind.

For more details on umbrella policies and to make comments or ask questions of the experts, visit the

Equifax Personal Finance Blog.

National Active Retirement Community Conference

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mature-couple-with-laptop-feaAmerica’s top professionals involved in building for, marketing to and serving people aged 55+ will gather at the National Active Retirement Community (NARA) 11th Annual Business Conference in Columbia, SC October 20-22.

Professionals, academicians, real estate developers, marketers, salespeople, city/town representatives and other business professionals seeking to capitalize on the unprecedented aging of America at our doorstep will attend. Topics will range from internet marketing to strategies to attract retirees to invest in your community. Speakers will also offer advice on how to successfully design, build and market 55+ housing, as well as market 55+ targeted products and services.

“As America ages, we are faced with enormous challenges and opportunities to serve this burgeoning market segment,” said NARA Director Dan Owens. “Every six seconds, an American turns 50 and professionals need to get attuned to this marketplace to be successful in our changing economy.”

“With 70 percent of all assets held by people over 50, older folks play a large role in the economy,” said Owens. “A large number of active retirees have moved in early retirement in the past five years bringing hundreds of millions of investment dollars to states. As the economy starts to recover, you see homebuying being led by those 55+ buyers who have the financial ability to move…and often pay cash for their new home.”

Past conferences have attracted business professionals from 16 states, Canada and Mexico.

Experts from around the United States will be speaking at the Columbia Metropolitan Convention Center. On Wednesday, October 20, sessions featuring two national experts will be open to the public. John K. Lynch, chief market analyst with Wells Fargo’s Evergreen Fund, will give his assessment of the current economic climate as it relates to older consumers. Following Lynch, Dr. Joe Gribbin, head of the masters’ program at the Erickson School at the University of Maryland, will give a detailed presentation about the future of Social Security and Medicare.

Other speakers include:

*Dave Reitz, Chicago, Ill. Formerly a leading executive with Del Webb’s Sun City brand, Dave now works in the residential building market targeting 55+ buyers.

Colin Milner, Vancouver, British Columbia, Canada. Founder and CEO of the International Council on Active Aging (ICAA), one of the world’s visionaries on the health and well-being of the older adult.

*Simon Hudson, Columbia, SC. Chair in Tourism Research at USC. Simon has done extensive research into mature (50+) tourism and will discuss tourism as it leads to retirement in a location.

*John Cromartie, Washington, D.C. A senior demographer at the Economic Research Service, U.S. Department of Agriculture, John has focused on retiree migration to rural areas.

*Gene Warren, Phoenix, AZ. A principal in Thomas+Warren, Gene is a leading authority on where retirees move and why.

*Tom Mann, Baltimore, MD. A principal of TR Mann Consulting and the Tuesday Morning Sales Club. Tom is also a co-founder of the networking group Mature Market Experts. Tom’s clients include senior housing developers, magazines, financial and consumer products and several fitness products, all aimed at serving the boomer and senior markets.

Richard “Dick” Ambrosius, South Dakota, VP, NeoCORTA, an organization committed to assessing and improving brain fitness among older adults.

The Capital City/Lake Murray Country Regional Tourism Board is the host organization and a Diamond Level sponsor. Other sponsors include the Go Texan state retiree attraction program and the South Carolina Chamber of Commerce. All NARA sessions will be held at the Columbia Metropolitan Convention Center in Columbia’s resurgent downtown “Vista” entertainment district.

Summer Camp: A Time of Bugs, Fun and Maybe Even Tax Breaks

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Summer Camp feaDepending on your income, you may be able to write off up to 35 percent of the cost of your child’s summer camp. As long as it’s day camp. As long as you haven’t already used up the maximum $3,000 you can take from the Child and Dependent Child Care Credit. As long as you use your child-free time to relax a little. (Okay…the IRS doesn’t require that one, but wouldn’t it be nice?)

“

Write Off  Your Child’s Summer Camp,”  a post on the

Equifax Personal Finance Blog by tax expert Eva Rosenberg, explains the good and bad news of the summer camp credit. You use IRS Form 2441 to claim the credit on your taxes. Unfortunately for many parents who have children in private school or daycare, the money is already spent in daycare and after school care charges long before summer arrives.

If you read the stipulations on Rosenberg’s post and find you’re eligible, she warns that you should request the camp provider’s tax ID number before you send the child away. Turns out, some of them don’t want to give it out because they’re not planning to report the income.

If you’re part of the sandwich generation providing care for both children and parents, be aware that the same tax credit could apply for the care of adults who are elderly or disabled. Learn more and ask your questions at the

Equifax Personal Finance Blog.

The Home Buyer Tax Credit for my new home was denied! What now?!

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Home SalesWith an estimated 1.8 million homebuyer tax credit forms filed with 2009 taxes, the IRS has been given the extraordinary task of correctly processing the extra paperwork. There are limitations on filing these credit forms electronically, and each application should be accompanied by specific documentation. The physical mounds of paper probably threatens to overtake the average cubicle.

Let’s cut the IRS a break. It’s no wonder some mistakes are being made and checks are delayed.

Tax expert and regular

Equifax Personal Finance blog contributor Eva Rosenberg has tips for avoiding delays and advice to follow if you’ve already been erroneously denied. Her article, “

Home Buyer Tax Credit Cash: 7 Things You Need to Know When Filing for the Home Buyer Tax Credit,” advises documentation, documentation, documentation throughout the process.

If you haven’t filed your tax credit form yet, then be sure to send proof that you bought the house (papers from closing) as well as proof that you live there now (perhaps your drivers license). Address mix ups are happening, too, so be sure to file an official change of address form in addition to writing in your new address and checking the box that your address has changed.

If it’s too late and your request has already been rejected, try, try again. Resubmit your return with copies of all the documentation and a cover letter asking to be reconsidered quickly.

Rosenberg’s article gives numbers to call (and not to call) for help with your home buyer tax credit questions. Like all the information in the

Equifax Personal Finance blog, her advice is down-to-earth and easy to follow, so give it a try!

Conference in Charlotte for Builders and Remodelers

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21cbec_logo_5cNationally-recognized speakers will come from across the United States to share knowledge of the home building industry. The 21st Century Building Expo & Conference is to be held September 15 – 17 in Charlotte, NC. This conference will offer an exceptional line-up of courses and seminars for everyone in the home building industry.

Courses were carefully selected to help builders and associates succeed and prosper in business after months of facing a difficult recession and housing sprawl. Several seminars will offer builders new marketing and sales techniques, such as The Art of Rediscovering Value, Sales Solutions for Builders on the Comeback, Advertising New Construction, Marketing Self-Help for Builders, Surviving and Thriving in Today’s Economy and Regaining Your Leadership in the Market.

Business-related courses will help your business and its bottom line: Project Management, QuickBooks Made Easy for Contractors, Reading Economic Keys to Score Big, Business Management for Building Professionals and Maximizing Profits are just a few.

Green building is one of the most new and outstanding trends in housing. Courses include The Ins & Outs of Energy Efficiency Programs for New Construction in NC, Cost Effective Wall Systems that Meet NC Energy Code Requirements, Green Building for Business Professionals and Building Energy Codes.

This conference will be beneficial for all builders and remodelers. Mark your calendar for the 21 Century Building Show & Expo, it could be life changing!