Credit and Debt If you ain't got no money, ain't nobody calls you honey. — Bo Diddley Credit Scores - A complete, but concise, illustrated tutorial about credit scores, especially the FICO score, and how to raise them. Credit Score Types and Versions: FICO Scores, VantageScores, and Others FICO Resilience Index New Developments in Credit, Debt, and Credit Scoring - Explains new developments and new factors being used to determine credit scores and creditworthiness. Credit-Based Insurance Scores - How credit information is used to determine the insurance premiums charged to consumers. New Credit Card Rules - A Summary of the Credit CARD Act Of 2009 (Credit Card Accountability Responsibility and Disclosure Act Of 2009) Alternative Credit Bureaus - How to build credit even if you have no credit record. Tenant Screening - A tutorial about the use of tenant screening companies by landlords and property managers to select whom to rent to. Foreclosure Real Estate Short Sales - How to avoid foreclosure and bankruptcy by selling your property through a short sale. Consumer Credit Blog Debt Collection Creditors have better memories than debtors. — Benjamin Franklin Prejudgment Remedies: General Principles, Attachment Other Prejudgment Remedies: Prejudgment Garnishment, Replevin, Lis Pendens, Receivership, Court Injunctions Execution and Levy Judgment Liens Garnishment Fraudulent Transfers Statutory Proceedings in Aid of Execution State Insolvency Proceedings: Compositions and Extensions (Workouts), Assignment For The Benefit Of Creditors (ABC) Debt and Taxes I've got all the money I'll ever need if I die by four o'clock this afternoon. — Henny Youngman Taxation of Canceled Debt - Taxes may be due on the canceled debt in a foreclosure or a short sale. This article explains what canceled debt is taxable, how to figure the tax, and how to possibly avoid it. Bankruptcy Money is better than poverty, if only for financial reasons. — Woody Allen The Benefit of Bankruptcy To Society A Quick Overview of Bankruptcy For Consumers Credit Counseling and Debtor Education (Personal Financial Management Course) Credit Availability and Credit Scores After Bankruptcy Bankruptcy Law Public Policies Bankruptcy Law Sources Bankruptcy Research Bankruptcy Fundamentals I have enough money to last me the rest of my life, unless I buy something. — Jackie Mason Bankruptcy Requires Good Faith Bankruptcy Participants: Debtor, Creditors, Case and Standing Trustees, United States Trustee, and Bankruptcy Judges The Bankruptcy Trustee Debt Relief Agencies Bankruptcy Petition Preparers Bankruptcy Lawyers Bankruptcy Petition - The Start of Bankruptcy Bankruptcy Estate Joint Petitions; Joint Administration and Consolidation of Bankruptcy Cases of Closely Related Debtors Automatic Stay Relief From Automatic Stay Creditors Meeting Filing and Responding To Motions Secured Debts In Bankruptcy Cramdowns - Paying for Secured Debt Under Chapter 13, 12, and 11 The Proof and Allowance of Claims In Bankruptcy Priority Rules In Bankruptcy Domestic Support Obligations (DSO) Under Bankruptcy Taxes In Bankruptcy: Their Priorities and Dischargeability Executory Contracts and Unexpired Leases Executory Contracts: Rejection Executory Contracts: Assumption and Assignment Bankruptcy Dismissal Bankruptcy Discharge Nondischargeable Debts in Bankruptcy Pre-Bankruptcy Period Preferences Preference Safe Harbors Setoffs and Recoupments Special Topics Though it has oft been said that money can't buy happiness, it can certainly prevent much unhappiness. — wcs Can Bankruptcy Prevent An Eviction For A Renter?; Judgment For Possession Foreclosure and Bankruptcy Chapter 12 Bankruptcy Overview Chapter 15 Bankruptcy Overview Chapter 9-Municipality Bankruptcy Chapter 7 and Chapter 13 Bankruptcy — Comparison of Benefits and Drawbacks Chapter 20 Bankruptcy Comparison of Chapter 11, Chapter 12, and Chapter 13 Bankruptcy for Individual Debtors Bankruptcy Chapter Conversion Chapter 7 Bankruptcy I'm living so far beyond my income that we may almost be said to be living apart. — e.e. cummings Who Qualifies for Chapter 7 Bankruptcy? Chapter 7 Overview and The Creditors Meeting Bankruptcy Planning The Means Test In Bankruptcy — Is There A Presumption of Abuse? Credit Counseling and Debtor Education (Personal Financial Management Course) Chapter 7 Bankruptcy Estate State and Federal Exemptions in a Chapter 7 Bankruptcy Residency Requirements for Exemptions Can Bankruptcy Prevent An Eviction For A Renter? Will the Trustee Sell Your Home in a Chapter 7 Bankruptcy? Can You Protect Your Home with the Homestead Exemption or Wildcard Exemption in a Chapter 7 Bankruptcy? Secured Property — Surrendering, Redemption, and Reaffirmation in a Chapter 7 Bankruptcy Lien Avoidance - Reducing Or Eliminating Liens In A Chapter 7 Bankruptcy Denial or Revocation of a Chapter 7 Discharge Chapter 13 Bankruptcy Chapter 13 Bankruptcy Overview Chapter 13 Timeline Role of Debtor and Standing Trustee Under Chapter 13 Bankruptcy Chapter 13 Bankruptcy Estate and Postpetition Claims Chapter 13 Payment Plan: Requirements For Confirmation Confirmation and Amending The Repayment Plan Chapter 13 Repayment Plan: Content and Format Chapter 11 Bankruptcy Chapter 11 Bankruptcy Overview Debtor In Possession (DIP) Creditors' Committees and Equity Committees in Chapter 11 Bankruptcy Chapter 11 Reorganization Plan Chapter 11 Discharge, Post-Confirmation Administration, and Final Decree Insurance Insurance Fundamentals Risk - A tutorial about risk and insurance. Risks, Perils, Hazards Handling Risk Risk Management Risk Management Techniques Insurance; Insurable Risks; Underwriting and Adverse Selection - A tutorial about the basics of insurance companies, underwriting and adverse selection, and what constitutes an insurable risk. Insurance Underwriting Credit-Based Insurance Scores - How and why personal credit scores affect insurance rates. Legal Liability and Negligence Law of Large Numbers - Using the Law of Large Numbers to determine underwriting risk and insurance premiums. Indemnity - How property insurance pays for losses. Insurable Interest - What constitutes an insurable interest, and when must it exist? Subrogation Utmost Good Faith — Representations, Concealments, and Warranties - Why honesty is the best policy in insurance. Insurance Contracts Standard Insurance Policies Insurance Deductibles - The types of deductibles and how they reduce insurance premiums. Coinsurance - How coinsurance reduces health insurance premiums, and equalizes rates for property insurance. Multiple Insurance Coverage: Pro Rata Liability, Contribution of Equal Shares, and Primary and Excess Insurance - What determines how much each insurance policy pays when multiple policies cover the same loss. Group Insurance Government Insurance Social Security History of Insurance Insurance Companies The Legal Organization and Ownership of Insurance Companies Insurance Markets Insurance Company Credit Ratings Insurance Agents and Brokers Insurance Marketing Systems Rate Making: How Insurance Premiums Are Set Loss or Claim Adjustment Reinsurance Captive Insurance Companies Risk Retention Groups and Purchasing Groups Insurance Regulation Sources of Insurance Regulation Statutory Accounting Principles Taxation of Insurance Companies Types of Insurance Types of Insurance: Overview Personal Umbrella Liability Policy Auto Insurance Automobile Insurance Basics: Personal Auto Policy (PAP) Auto Accident Victim Compensation No-Fault Auto Insurance The Determinants of Auto Insurance Costs Auto Insurance for High-Risk Drivers Homeowners Insurance Homeowners Insurance - An overview of the typical homeowners insurance policy, listing the major coverages and exclusions. Types of Homeowners' Insurance Policies - Summarizes the basic coverage of several types of homeowner's insurance policies — including insurance for renters and owners of condominiums and cooperatives — and how they differ. Homeowner's Insurance (HO-3 Policy) Common Homeowners Insurance Policy Endorsements The Cost of Homeowners Insurance and How To Lower It - What factors influence the cost of homeowners insurance and how can you reduce premiums? Real Estate Title Insurance - An introduction to real estate title insurance and other alternatives, including tips on how to save money when buying title insurance. Life Insurance Life Insurance Fundamentals Determining Life Insurance Premiums for Term and Level-Premium Policies Term Life Insurance Whole Life Insurance Variable Life Insurance, Universal Life Insurance, and Variable-Universal Life Insurance How to Buy Life Insurance Fixed and Variable Annuities Life Insurance Contracts Life Insurance Contracts: Owner, Insured, and Beneficiary Common Life Insurance Provisions Life Insurance Dividends and Nonforfeiture Options Life Insurance Policy Loans and Settlement Options Other Life Insurance Options and Riders: Waiver-of-Premium, Guaranteed Insurability, Cost of Living Rider, Accelerated Death Benefits Rider, and the Double Indemnity Option Health Insurance Major Medical Insurance; Hospital-Surgical Insurance Plans; Medicare Supplement Insurance (aka Medigap Insurance) Disability-Income Insurance Long-Term Care Insurance Commercial Insurance Surety and Fidelity Bonds Special Insurance Catastrophe Insurance: Transferring Insurance Risks to Investors Parametric Insurance Mutual Funds, Exchange-Traded Funds, Hedge Funds, and Limited Partnerships Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy. — Groucho Marx Investment Funds Mutual Funds — A complete, but concise, tutorial about mutual funds in a one-page format with sidebars, illustrations, formulas, examples, and clear definitions of basic terms. The Mutual Fund Prospectus Mutual Fund Fees and Expenses Open-End Mutual Funds: Purchases, Reinvestments, Redemptions, and Taxes An Overview of the Types of Mutual Funds Taxation of Mutual Funds Other Types of Funds Closed-End Mutual Funds Unit Investment Trusts (UITs) Real Estate Investment Trusts (REITs) Defined-Maturity Bond Funds Index Funds Private Equity Funds Hedge Funds and Funds of Hedge Funds Managed Futures Fixed Annuities and Variable Annuities Exchange-Traded Funds Exchange-Traded Funds (ETFs) Exchange-Traded Fund Valuation: Net Asset Value, Indicative Value, Cash, and Shares Outstanding Limited Partnerships Master Limited Partnerships Limited Partnerships Evaluating and Buying a Limited Partnership Interest Tax Advantages of Limited Partnerships Real Estate Buy land. They ain't making any more of the stuff. — Will Rogers Real Estate Fundamentals Real Estate, Real Property, and Land — Basic Definitions and Concepts Legal Descriptions Of Real Estate Real Estate Encumbrances: Liens, Deed Restrictions, Easements, and Encroachments Land-Use Controls: Comprehensive Plans, Zoning, and Property Restrictions Estates in Land: The Fee Simple Estate and the Life Estate Forms of Real Estate Ownership, including Concurrent Estates or Co-Ownership: Tenancy in Common, Joint Tenancy, Tenancy by the Entirety, and Community Property Types of Deeds: General and Special Warranty Deeds, Bargain and Sale Deeds, Quitclaim Deeds, Trust Deeds, and Court-Order Deeds Title Records Real Estate Title Insurance Real Estate Title Transfer Real Estate Agency Listing Agreements and Buyer Agency Agreements Real Estate Sales Contracts Real Estate Appraisal: Sales Comparison Approach, Cost Approach, Income Approach Real Estate Financing Consumer Protections for Higher-Priced Mortgages Real Estate Loan Types Escrow Due Diligence Real Estate Closing; Real Estate Settlement Procedures Act (RESPA) Mortgages Mortgage Fundamentals — an Illustrated Tutorial Reverse Mortgages Mortgage Calculator Rentals Residential and Commercial Leases Tenant Screening Landlords and Tenants Real Estate Types Types of Dwellings Condo-Hotels Destination Clubs Real Estate Investments Beginning Guide to Real Estate Investments Alternative Real Estate Investments: REITs, Tax Liens and Tax Deeds, Net Leases, Tenancies in Common, Notes, Trust Deeds, and Real Estate Syndication Real Estate Investment Trusts (REITs) Buying a Condominium Low-Risk Profits from Tax Liens and Tax Deeds Flipping Properties for Profit Profiting from Foreclosures Real Estate Taxation Ad Valorem Property Taxes Real Estate Tax Benefits Home Sale Exclusion: Tax Savings on Capital Gain of a Principal Residence Itemized Deductions For Interest Expenses on Home Mortgages and Home Equity Loans Passive Activity: Material Participation Tests At-Risk Limitation Rules Passive Activity Rules Rental Income: Active or Passive Rental Income and Deductions Deductibility of Real Estate Rental Losses Tax-Free Like-Kind Exchanges Of Property (§1031 Exchanges) Taxation of Involuntary Conversions Installment Sales Taxation Taxation of Real Estate Rights Transactions: Lease Cancellations, Real Estate Options, Easements, and Covenants Real Estate Investments Taxation Tax Consequences for the Lender of Abandonments, Foreclosures, Repossessions, Voluntary Conveyances, and Bad Debts Low-Income Housing and Rehabilitation Tax Credits Special Topics in Real Estate Price-to-Rent Ratio Environmental Hazards in Real Estate Foreclosure Short Sales Mortgage Electronic Registration Systems (MERS) Real Estate Blog Taxes In general, the art of government consists of taking as much money as possible from one class of citizens to give to another. — Voltaire Tax Filing Basics How to File Your Taxes for Free Tax Planning Tax Year Recordkeeping for Individuals and Businesses Filing Status Filing Requirements Filing a Tax Return for a Deceased Taxpayer Liability Relief On Joint Returns: Innocent Spouse Relief, Separation of Liability, Equitable Relief, Relief From Liability Arising From Community Property Law, and Injured Spouse Claims for Refund Patient Protection and Affordable Care Act (ACA, Obamacare) Income Taxation The tax code is complex because it is unfair. — wcs Gross Income, Adjusted Gross Income (AGI), and Modified Adjusted Gross Income (MAGI) Tax Formula to Determine Taxable Income from Gross Income Tax Withholding Estimated Tax Payments Tax Penalty for Underpayment of Tax Wages, Salary, and Other Compensation Taxation of Fringe Benefits Fringe Benefits: Health and Accident Coverage, Flexible Spending Arrangements, Health Reimbursement Arrangements, Access Rules and COBRA Coverage Taxation of Fringe Benefits: Company Cars Pensions and Annuities Taxation Other Income Additional Medicare Tax of 0.9% on Earned Income Kiddie Tax Taxation of Alimony, Separate Maintenance Payments, and Child Support Taxation of Social Security Benefits and Tier 1 Equivalent Railroad Retirement Benefits Taxation of Gambling Income Alternative Minimum Tax (AMT) for Individuals Taxation of Employee Stock Options Taxation of Restricted Stock Compensation Taxation of Canceled Debt, Including Foreclosures and Short Sales Tax Attributes Tax Benefits for Military Personnel Tax-Exempt Entities Property Sales and Exchanges Tax Basis Property Sales Home Sale Exclusion: Tax Savings on Capital Gain of a Principal Residence Installment Sales Taxation Tax on Lenders of Abandonments, Foreclosures, Repossessions, Voluntary Conveyances, Bad Debts Tax-Free Like-Kind Exchanges of Property (§1031 Exchanges) Tax-Free Exchanges Taxation of Involuntary Conversions Foreign Income Foreign Income Foreign Earned Income Exclusion Foreign Tax Credit Expatriation Tax United States Taxation of Nonresident Aliens and Foreign Corporations If Patrick Henry thought that taxation without representation was bad, he should see how bad it is with representation. — Old Farmer's Almanac Personal Deductions Personal and Dependency Exemptions Qualifying Child, Qualifying Relative, and Qualifying Non-Relative Standard Deduction Itemized Deductions Itemized Deductions For Interest Expenses on Home Mortgages and Home Equity Loans Deductibility of Charitable Contributions Moving Expense Deductions Miscellaneous and Job-Related Deductions Deductions For Casualty and Theft Losses Medical and Dental Expense Deductions Standard Mileage Rate for Deducting Car and Truck Expenses Deductibility of Taxes: State, Local, and Foreign Income Taxes, General Sales Taxes, and Real Estate Taxes Tax Credits Tax Credits Earned Income Credit (EIC) Child Tax Credit and the Credit for Other Dependents Health Insurance Premium Tax Credit Credit for Child and Dependent Care Expenses Credit for The Elderly and Disabled Education Tax Credits: American Opportunity Credit, Lifetime Learning Credit Adoption Credit for Qualified Adoption Expenses Retirement Savings Contribution Credit (Saver's Credit) Foreign Tax Credit (FTC) Residential Energy Credits Educational Tax Benefits Scholarships, Fellowships, Grants, and Tuition Reductions Education Tax Credits: American Opportunity Credit and the Lifetime Learning Credit Student Loan Interest Deduction; Student Loan Cancellations and Repayment Assistance Coverdell Education Savings Account Qualified Tuition Programs (529 Plans) Employer-Provided Educational Assistance Business Deductions for Work-Related Education Tax Benefits of Using Early IRA Distributions to Pay for Education Education Savings Bonds Program Other Tax Topics Statute of Limitations For Tax Penalties and Refunds Private Letter Rulings and Tax Opinions Tax Penalties Reporting Foreign Financial Assets Retirement and Health Plans Blessed are the young, for they shall inherit the national debt. — Herbert Hoover Patient Protection and Affordable Care Act (ACA, Obamacare) Health Savings Accounts (HSA) Retirement Plans Qualified Retirement Plans Types of Retirement Plans: Traditional and Roth IRAs, SIMPLE IRAs, SIMPLE 401(k)s, Simplified Employee Pensions; Safe Harbor 401(k)s, Traditional and Roth 401(k)s, Profit-Sharing Plans; Defined-Benefit Plans Unrelated Business Taxable Income (UBTI) Traditional Individual Retirement Accounts (IRAs) IRA Distributions Required Minimum Distributions (RMDs) Roth IRAs Retirement Savings Contribution Credit (Saver's Credit) SIMPLE IRAs Simplified Employee Pension Plans (SEP) 401(k), 403(b), and 457(b) Retirement Plans, SIMPLE 401(k) Plans, Safe Harbor 401(k) Plans Solo 401(k) Plans Designated Roth Accounts Net Unrealized Appreciation (NUA) of Employer Stock Lump-Sum Distributions Nonqualified Deferred Compensation Plans Types of Nonqualified Deferred Compensation Plans Employee Stock Ownership Plans Setting Up, Administering, and Terminating Retirement Plans Retirement Plan Fiduciaries Retirement Plan Setup and Administration Terminating a Retirement Plan Taxation of Investments Deductibility of Investment Expenses Taxation of Interest Income Imputed Interest on Below-Market Loans Taxation of Dividends Capital Gains and Losses Holding Periods For Property Net Investment Income Tax (3.8% Medicare Surtax) Taxation of Security Transactions Tax Benefits of Professional Trader Status Small Business Stock Sales and Exchanges Stock Redemptions Taxation of Bond Income Taxation of Options and Convertible Securities Taxation of Mutual Funds Constructive Sales of Appreciated Financial Positions Taxation of Short Sales Tax Loss Harvesting and Wash Sale Rules Real Estate Tax Benefits Passive Activity: Material Participation Tests At-Risk Limitation Rules Passive Activity Rules Rental Income: Active or Passive Rental Income and Deductions Real Estate Investments Taxation Deductibility of Real Estate Rental Losses Business Taxes Business Entities: Sole Proprietorships, Partnerships, Limited Liability Companies, S Corporations, and C Corporations Business Entities: Pros and Cons Business Startup and Organizational Expenses Qualified Joint Venture Election for Married Business Co-Owners Business Income Self-Employment Tax 20% Qualified Business Income Deduction Accounting Methods: Cash, Accrual, and Hybrid Tax Year and Accounting Periods Accounting Methods for Long-Term Contracts: Completed Contract Method, Percentage of Completion Method Home Office Deduction Simplified Option for Claiming the Home Office Deduction Deductions for Repairs, Maintenance, and Capital Improvements for Businesses Actual Expense Method for Deducting Car and Truck Expenses Travel Expense Deductions Meals, Entertainment, and Gift Deductions Business Deductions for Rent and Lease Payments Deducting Nonbusiness and Business Bad Debts Net Operating Losses (NOLs) Hobby Rules May Limit Claimable Losses from Sideline Businesses General Business Credit Taxation of Business Sales Domestic Production Activities Deduction Employees Employment Taxes Employer Deductions for Compensation Employee Expense Reimbursements: Accountable and Nonaccountable Plans Tax Advantages of Family Employment Tax Classifications For Workers: Employees, Independent Contractors, Statutory Employees, and Statutory Nonemployees Misclassifying Workers as Independent Contractors Household Employment Taxes (Nanny Tax) Depreciation and Other Cost Recovery Methods Cost Recovery Methods: Depreciation, Amortization, and Depletion Depreciation Amortization Section 179 Deduction Listed Property Section 1231 Assets Deducting Business Property and Improvements as Current Expenses Real Estate Rental Income: Active or Passive Rental Income and Deductions Deductibility of Real Estate Rental Losses Real Estate Investments Taxation Taxation of Real Estate Rights Transactions: Lease Cancellations, Real Estate Options, Easements, and Covenants Low-Income Housing and Rehabilitation Tax Credits Tax Consequences for the Lender of Abandonments, Foreclosures, Repossessions, Voluntary Conveyances, and Bad Debts Partnerships and Corporations Partnerships Partnership Distributions, Inside and Outside Basis Partnership Interest Sale Limited Liability Companies S Corporations S Corporation Distributions Suspended Losses from the Disposition of an Interest in a Pass-Through Entity Family Businesses C Corporations Personal Service Corporations Corporate Distributions Corporate Accumulation Penalty Taxes Controlled Corporate Groups Consolidated Corporate Tax Returns Permanent and Temporary Differences between Book Income and Taxable Income for Partnerships and Corporations Corporate Acquisitions and Mergers State and Local Business Taxes Multistate-Business Taxation International Business Taxation Subpart F Income of Controlled Foreign Corporations Transfer Pricing Sourcing of Income and Deductions in International Business and Investment Transactions United States Taxation of Nonresident Aliens and Foreign Corporations Tax Consequences of Foreign Currency Transactions Tax complexity is a kind of tax. — Sen. Max Baucus (D-Montana) and chairman of the Senate Finance Committee Gratuitous Transfer Taxes The only difference between death and taxes is that death doesn't get worse every time Congress meets. — Will Rogers Blessed are the young, for they shall inherit the national debt. — Herbert Hoover Gratuitous Transfer Taxes (aka Wealth Transfer Taxes) Federal Gift Tax: Overview Gross Estate Estate Taxes Generation-Skipping Transfer Taxes Gift, Estate, and Generation-Skipping Transfer Tax Calculations Deceased Spousal Unused Exclusion (DSUE) Portability Reducing Gift, Estate, and Generation-Skipping Taxes Why the Estate Tax? Taxation of Trusts and their Beneficiaries Tax Advantages of Charitable Trusts Split-Interest Purchase of Property Intrafamily Loans Private Annuities Sale or Gift Leasebacks Buy-Sell Agreements Using Corporate Stock Redemptions to Pay Estate Taxes Personal Holding Company Special Tax Topics Tax Structure: Tax Base, Tax Rate, Proportional and Progressive Taxation Tax Policy Objectives Tax Law Tax Incidence: How The Tax Burden Is Shared Between Buyers and Sellers Deadweight Loss of Taxation Types of Taxes Tax Policy Unfair Taxation: Some Examples Why Are the Rich Getting $9.2 Million Government Handouts? Double Taxation Are Wealth Taxes Constitutional? Historical Tax Notes Wills, Estates, and Trusts I have nothing, I owe a great deal; the rest I give to the poor. — the purported will of Rabelais Wills and Estates Intestacy, Wills, Trusts, Estates, and Probate: Overview Estate Planning Checklist Estate Planning for Digital Assets Nonprobate Transfers Joint Tenancy Dead Hand Control: Conditional Bequests and Devisements Probate and The Personal Representative Uniform Probate Code (UPC) Probate Estate Administration Personal Representatives (Executors and Administrators) Durable Power of Attorney Living Wills and the Durable Power of Attorney for Healthcare Intestate Distribution Intestate Distribution Scheme: Descent and Distribution Statutes Intestate Distribution to Issue: Per Stirpes, Per Capita With Representation, and Per Capita At Each Generation Intestate Distribution to Ancestors and Collateral Relatives Who Qualifies as Issue of a Decedent? Uniform Parentage Act (UPA) Limits to Testamentary Freedom Surviving Spouse Surviving Spouse Support: Pension Survival Benefits, Marital Property, Homestead and Personal Property Exemption, and the Family Allowance Elective Share of The Augmented Estate Community Property Omitted Spouse Omitted Children Inheritance Gifts to Children: Advancements, Guardianships, Conservatorships, Custodianships, and Trusts Appointing a Personal Guardian and Leaving Property for Minor Children: Property Guardianships, Uniform Transfer to Minors Act Custodianships, Child's Trust and Family Pot Trusts, 529 and Coverdell Accounts, and Handling Life Insurance Proceeds for Minors Trusts for Minors Disclaimers Lapsed Gifts and Anti-Lapse Statutes Class Gifts Ademption, Avoidance of Ademption, and Abatement Bars To Inheritance: Homicide, Abuse, Or Abandonment Wills: Execution and Probate Wills Will Execution: The Common Law Elements of The Wills Act Formalities Modern Trend in Wills Act Formalities: Substantial Compliance and Harmless Error Doctrines Will Components: Will Integration, Codicils, Incorporation By Reference, and Acts of Independent Significance Will Construction and Extrinsic Evidence: Plain Meaning Rule, Patent and Latent Ambiguities, Will Reformation Holographic Wills Will Revocation and Revival Fraud and Tortious Interference With An Expectancy of An Inheritance Or A Gift Will Contests Will Contests: Testamentary Capacity, Insane Delusion, and Undue Influence Will Contracts: Contracts to Provide for a Beneficiary, or to Not Change or Revoke a Will Will Substitutes (aka Nonprobate Instruments) Simplified Probate: Collection of Personal Property by Affidavit and Summary Probate Administration Pour-Over Wills Trusts Trusts Trust Creation Mandatory and Discretionary Trusts Trust Modification and Termination Trusts and The Rights of Beneficiary Creditors; Spendthrift, Support, and Self-Settled Asset Protection Trusts Future Interests Powers of Appointment Trustees General and Specific Powers of the Trustee Prudent Investment of Trust Assets Trustee's Duty To Report Breach of Trust Rule Against Perpetuities Rule Against Perpetuities: Powers of Appointment, Saving Clause Rules Against Perpetuities: Modern Trend Types of Trusts Living Trusts Special Needs Trusts and 529A (ABLE) Accounts AB Trusts and AB Disclaimer Trusts Qualified Terminal Interest Property (QTIP) Trusts Qualified Domestic Trusts (QDOT) Marital Trust Grantor-Retained Interest Trusts: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs), Grantor-Retained Income Trusts (GRITs), and Qualified Personal Residence Trusts (QPRTs) Irrevocable Life Insurance Trusts, Including Crummey Trusts Dynasty Trusts Charitable Trusts Intentionally Defective Grantor Trusts Gift, Estate, and Trust Taxes Taxation of Trusts and their Beneficiaries Marital Deduction Federal Gift Tax — Overview Gross Estate Estate Taxes Generation-Skipping Transfer Taxes Gift, Estate, and Generation-Skipping Transfer Tax Calculation Investment Fundamentals What's the use of happiness? It can't buy you money. — Henny Youngman Investment Math: Arithmetic and Geometric Mean, Total Return, Return Relative, Currency Conversions, and Measuring Risk Nominal and Real Interest Rates Present Value and Future Value of Money Present Value and Future Value of an Annuity Dividend Discount Model (DDM) Investment Returns: Real Rate of Return and the Inflation Premium, Investment Risk and the Risk Premium, Holding Period Return (HPR), Internal Rate of Return (IRR) Investment Risks and the Risk-Return Trade-off Single Asset Risk: Standard Deviation and Coefficient of Variation Portfolio Risks and Returns; Covariance and the Coefficient of Correlation Capital Allocation Between A Risk-Free Asset and A Risky Asset Beta, Capital Asset Pricing Model (CAPM), and the Security Market Line (SML) Efficient Frontier of Portfolios Modern Portfolio Theory: the Efficient Frontier, Utility Scores, and Portfolio Betas The Single-Index Model For Security Returns Arbitrage Pricing Theory (APT); Law of One Price Value at Risk (VaR) Portfolio Performance: Comparing Portfolio Returns using the Sharpe Ratio, Treynor Ratio, and Jensen's Alpha Formula Investment Plans: Dollar-Cost Averaging, Constant-Dollar Plan, Constant-Ratio Plan, Variable-Ratio Plan Random Walk and Efficient Market Hypotheses Market Anomalies Behavioral Finance Cash Flow You can't buy love, but you can pay heavily for it. — Henny Youngman Banking and Financial Institutions If only God would give me some clear sign! Like making a large deposit in my name at a Swiss bank. — Woody Allen Money Seigniorage - The Profit of Creating Money Inflation and the Money Supply Consumer Price Index (CPI) Financial System Financial Instruments Financial Markets Financial Institutions Payment Systems Information Asymmetry: Adverse Selection and Moral Hazard Financial Intermediation Depository Institutions (aka Banks) Types of Depository Institutions: Savings Institutions, Commercial Banks, Bank and Financial Holding Companies Nondepository Institutions: Insurance Companies, Pension Funds, Securities Firms, Government-Sponsored Enterprises, and Finance Companies Bank Balance Sheet: Assets, Liabilities, and Bank Capital Bank Profitability Bank Risks Government Deposit Insurance Bank Regulations and Supervision Bank Regulatory Capital Central Banking Central Banks Central Bank Design Central Bank Transactions Money Supply and the Central Bank's Balance Sheet Money Supply and the Money Multiplier Monetary Policy Federal Reserve Monetary Policy Tools: Open Market Operations and Discount Lending European Central Bank Monetary Policy Quantitative Easing Monetary Policy Rules, Interest Rates, and Taylor's Rule Money Growth, Money Velocity, and Inflation Money Demand and Money Velocity Inflation and Employment Aggregate Expenditure, Economic Output, Inflation, and Monetary Policy Reactions Foreign Exchange Economics of Foreign Exchange Rates Fixed Exchange Rates Unsterilized and Sterilized Foreign Exchange Interventions Hard Currency Pegs: Currency Boards and Dollarization Speculative Currency Attacks Banking History A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain. — Mark Twain Money in Colonial America The First and Second Banks of the United States Free Banking and the National Banking Act of 1863 Financial Panics and Bank Runs Before Deposit Insurance Special Topics London Interbank Offered Rate (LIBOR) LIBOR-OIS Spread TED Spread Net Capital Requirement (aka Net Capital Rule, Net Capital Ratio) Commercial Paper Funding Facility (CPFF) Office of Thrift Supervision (OTS) Securities Lending — Where Banks Win, But Can't Lose Mutual Funds, Exchange-Traded Funds, Hedge Funds, and Limited Partnerships Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy. — Groucho Marx Investment Funds Mutual Funds — A complete, but concise, tutorial about mutual funds in a one-page format with sidebars, illustrations, formulas, examples, and clear definitions of basic terms. The Mutual Fund Prospectus Mutual Fund Fees and Expenses Open-End Mutual Funds: Purchases, Reinvestments, Redemptions, and Taxes An Overview of the Types of Mutual Funds Taxation of Mutual Funds Other Types of Funds Closed-End Mutual Funds Unit Investment Trusts (UITs) Real Estate Investment Trusts (REITs) Defined-Maturity Bond Funds Index Funds Private Equity Funds Hedge Funds and Funds of Hedge Funds Managed Futures Fixed Annuities and Variable Annuities Exchange-Traded Funds Exchange-Traded Funds (ETFs) Exchange-Traded Fund Valuation: Net Asset Value, Indicative Value, Cash, and Shares Outstanding Limited Partnerships Master Limited Partnerships Limited Partnerships Evaluating and Buying a Limited Partnership Interest Tax Advantages of Limited Partnerships Bonds and Other Fixed Income Securities Bond Fundamentals Nominal and Real Interest Rates; Compounded and Continuously Compounded Interest Rate Formulas The Present Value and Future Value of Money - Compare any investments — not just bonds — by calculating the present value and future value of money. The Present Value and Future Value of an Annuity - An annuity is a series of equal payments made in equal periods of time. Understanding annuities allows one to understand loans, and investments that make periodic payments, such as bonds. Complete Introduction to Bonds Bond Indentures Bond Yields Bond Pricing Investment Risks of Fixed Income Securities Bond Ratings and Credit Risk Volatility of Bond Prices In The Secondary Market Primary Corporate Bond Market Term Structure of interest Rates: the Expectation Hypothesis and the Liquidity Premium Theory Spot Rates, Forward Rates, and Bootstrapping Interest Rate Risk of Bonds; Full-Valuation Approach (aka Scenario Analysis) Duration and Convexity, with Illustrations and Formulas Bond Strategies Bond Funds Taxation of Bond Income Taxation of Options and Convertible Securities Types of Bonds International Bonds Nonconventional Bonds Convertible Bonds Preferred Stock Fixed Rate Capital Securities (FRCS) Medium-Term Notes Eurobonds Money Market Instruments Money Market Instruments Certificates of Deposit (CDs) Commercial Paper Repurchase Agreements (Repos) Federal Funds Bankers Acceptances (BAs) Government Securities Municipal Bonds Types of Municipal Bonds Municipal Bond Markets United States Savings Bonds Agency Bonds and Government-Sponsored Entity (GSE) Bonds United States Treasury Securities: Bills, Notes, Bonds, Treasury-Inflation Protected Securities (TIPS), and STRIPS United States Treasury Auctions Primary Market and Secondary Markets for United States Treasury Securities. Corporate Bonds Corporate Bonds - An Introduction Corporate Bond Types: Mortgage Bonds, Collateral Trust Bonds, Equipment Trust Certificates (ETCs), Debentures, and Guaranteed Bonds High-Yield Bonds (aka Junk Bonds) Asset-Backed Securities Asset-Backed Securities (ABS) Asset-Backed Securities (ABS): Structure Prepayment Models For Asset-Backed Securities Asset-Backed Securities (ABS): An Overview of Credit Ratings Asset-Backed Securities (ABS): Credit Analysis Special Purpose Entity (SPE) Credit Enhancements Mortgage-Backed Securities (MBS) Collateralized Mortgage Obligations (CMOs) Collateralized Debt Obligations (CDOs) Covered Bonds Credit Card Asset-Backed Securities Credit Card Asset-Backed Security Structure and Cash Flow Allocations Auto Loan and Auto Lease Asset-Backed Securities Auto Lease ABS; Titling Trust and Residual Risk Derivatives Derivatives Death Bonds Forward Contracts Interest Rate Swaps and Interest Rate Options Credit Default Swaps (CDS) Overnight Index Swaps (OIS) Bond Resources Bonds - Links, Articles, Studies, and Resources Bond Formulas Stocks Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it. — Will Rogers Stock Fundamentals Stocks: Introduction Share Classes of Common Stock Common Stock Dividends Types of Stocks Margin Selling Short Primary and Secondary Stock Market Investment Banking Selling New Securities Securities Exempt from Registration under the Securities Act of 1933 The Secondary Stock Market Execution, Clearing, and Settlement Stock Valuation Security Analysts and Their Recommendations Dividend Discount Model (DDM) The Present Value of Growth Opportunities, Earnings Retention Rate, and Dividend Payout Ratio Price/Earnings Ratio (P/E Ratio) and the PEG Ratio Equity Valuation: Book Value, Liquidation Value, and The Q Ratio Enterprise Value Earnings Yield (aka Earnings-Price Ratio, E/P Ratio) Discounted Cash Flow Formula Goodwill Economic Value Added (EVA) Financial Ratios Financial Ratios Liquidity Measures: Net Working Capital, Current Ratio, Quick Ratio Activity Ratios: Accounts Receivable Turnover, Inventory Turnover, Total Asset Turnover Leverage Measures: Debt-Equity Ratios and Fixed-Charge Coverage Ratio Profitability Ratios: Net Profit Margin, Return On Assets (ROA), Return On Equity (ROE) Stock Indexes Security Market Indexes Russell Stock Market Indexes Global Dow Specialized Topics American Depositary Receipts (ADRs) Global Depositary Receipts (GDRs) Preferred Stock Special Purpose Acquisition Companies (SPACs) Stock Rights Offering Insider Trading Cash Flow from Operations Options Options: Calls and Puts, an Illustrated Introduction with Color-Coded Examples. The Mechanics of Option Trading, Exercise, and Assignment; Options Clearing Corporation (OCC) Option-like Securities: Callable Bonds, Convertible Securities, and Warrants Theoretical Pricing Models: Binomial Option Pricing and The Black-Scholes Formula Put-Call Parity The Greeks: Delta, Gamma, Theta, Vega, and Rho Volatility and Implied Volatility Employee Stock Options; Back-dated Options Index Options Interest Rate Options Exotic Options Binary Options Option Strategies Option Strategies: Investment Strategies using Options, illustrated with Graphs and Examples. Covered Calls Vertical Option Spreads Straddles and Strangles: Non-Directional Option Strategies Butterfly and Condor Option Spreads Calendar Option Spreads Diagonal Option Spreads Dividend Spread Arbitrage Special Option Topics Taxation of Options and Convertible Securities Futures Futures and Options on Futures — an Illustrated Tutorial The Institution of Futures Trading: The Futures Exchange, Clearinghouse, and the Futures Commission Merchant (FCM) Funding A Futures Account Futures Orders: Buying and Selling Futures Contracts on an Exchange Hedging Determination of Futures Prices: Spot-Futures Parity Futures Prices: Known Income, Cost of Carry, Convenience Yield Futures Prices Versus Expected Spot Prices: Expectation Hypothesis, Normal Backwardation, and Contango Financial Futures FX Futures Interest Rate Futures Commodities Commodities Commodities Blog Forex They say that money can't buy love, but it can greatly increase your prospects. — wcs Forex — An Introduction Foreign Currency Market Foreign Exchange History Economics of Foreign Exchange Rates Foreign Exchange Rates Currency Quotes, Bid/Ask Quotes, Quote Convention, and Cross Currency Quotes Currency Cross Rates and Triangular Arbitrage In The FX Spot Market How to Calculate Leverage, Margin, and Pip Values in Forex How To Choose A Forex Broker Forex Trading Rollovers, Interest Rate Differentials, and Value Dates; Carry Trade Fundamental Analysis FX Forwards FX Futures Exotic Options Topics International Balance of Payments (BOP) Speculative Currency Attacks Technical Analysis If you can count your money, you don't have a billion dollars. — J. Paul Getty Technical Analysis: Overview Where are the Technical Analysts' Yachts? Dow Theory Technical Indicators Market Sentiment and Indicators Trends and Trendlines An Overview of Chart Types Used In Technical Analysis Bar Charts Candlestick Charts Point-and-Figure Charts Simple Moving Averages(SMA) and Exponential Moving Averages (EMA) Price Channels, Envelopes, and Bands Momentum and Momentum Indicators Ralph Nelson Elliot and the Elliot Wave Theory Elliot Wave Theory (EWT) Elliot Wave Theory Review