Custodial accounts to split GM shares for grandchildren
An adviser explains setting up three separate custodial accounts to hold the GM shares for each grandchild until age 18. Benefits include potential tax advantages and avoiding probate if the author dies, with guidance to use EquiServe for setup and details on cost basis versus step-up at death.
MENTIONED IN THIS ARTICLE
EquiServe
Equiserve.com
Mixed yields in money market funds and CDs drop
The Money Market funds seven day and 30 day yields show a slight rise and fall to 0.78 percent in both metrics with unchanged portfolio maturity at 52 days. Bankrate.com reports money market account yields easing to 0.74 percent and CDs easing across the board from six months to five years, led by a 3.04 percent five year CD.
MENTIONED IN THIS ARTICLE
New York
Money Fund Report
iMoneyNet Inc
Westboro
Mass
Money Funds
Bankrate.com
North Palm Beach, Fla
Saving plans become family legacy for three Arlington kids
Patricia V. Rivera reports on Vicki English who funds her children’s savings with half of their allowance. Her oldest Jake, 14, has $1,200, Kelsey 11 about $840, Megan 9 near $500. Experts say school curricula often neglect personal finance, urging parental guidance and nationwide programs to boost financial literacy among youth. Alex, 14, aims to buy a future car after college, reflecting long term planning.
MENTIONED IN THIS ARTICLE
Dallas Morning News
Vicki English
English
Arlington
Texas
Eric
Jake
3M Co
Kelsey
Megan
Mark Hancock
Investor fees rise as financial advice loses appeal
Investors rely more on paid guidance amid market volatility as Morningstar reports two thirds of new mutual funds charge a load. Some funds that once carried no loads now add them, prompting CFPB standards to require disclosure of compensation. Load funds underperform no load over one, three, and five years, except for domestic equity and taxable bond funds.
MENTIONED IN THIS ARTICLE
Hope Yen
Sociated Press
New York
Morningstar
Paul Merriman
Fund- Advice.com
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