Land Trusts in California

In California, general trust law is found in the Probate Code §§15000-19403. There is no specific land trust statute in California, unlike Illinois land trust law, (765 ILCS 405/410/415/420), Massachusetts business trust (MBT) law (M.G.L.c.182, §2), and Virginia land trust law (Va. Code Sec. 55-17.1).

So, land trusts created in California for California property are based on general trust law in the aforesaid California Probate Code. But an out-of-state land trust may be formed that would hold title through the trustee of a California property, to take advantage of more beneficial statute and case law of another state. Indeed, the Virginia Supreme Court in Air Power, Inc v. Thompson, 244 Va. 534, 422 S.E. 2nd 786 (1992), has confirmed that Va. Code Sec. 55-17.1 gives the trustee of a land trust both legal and equitable power of the real property, which protects the privacy of the beneficiaries.

Indeed, since California does not have a specific land trust statute, there is no legislative history nor developed case law on it in this state, only California general trust law and case law. But a general trust law may have some advantages over a specific land trust statute with more requirements. Indeed, Illinois land trust statute (75 ILCS 435) requires that holders of power of direction owe fiduciary duties to holders of beneficial interests. California general trust law does not have a similar requirement.

In any event, the avoidance of probate over a real property in a land trust trumps all difficulties in its creation.

I. California General Trust Law:

A. Creation Of Trust:

California Probate § 15000 states that “(t)his division (Division 9 of the Probate Code) shall be known and may be cited as the Trust Law.” And § 15001(a) states that “(e)xcept as otherwise provided by statute: This division applies to all trusts regardless of whether that were created before, on, or after July 1, 1987.”

Among other methods of creating trust, a trust may be created by: “(b) (a) transfer of property by the owner during the owner’s lifetime to another person as trustee,” under § 15200(b) of the California Probate Code. And “a trust is created only if there is trust property,” under § 15202 thereof.

“A trust may be created for any purpose that is not illegal or against public policy,” under § 15203 thereof. A land trust is not for an illegal purpose, nor is it against public policy in California, although it is not widely used in this state.

And “a trust, other than a charitable trust, is created only if there is a beneficiary,” under § 15205 thereof.

B. Trust Of Real Property And Personal Property:

So as not to violate the Statute of Frauds, which requires a written instrument to be enforceable, §15206 states that “a trust is relation to real property is not valid unless evidenced by one of the following methods: (b) By a written instrument conveying the trust properly signed by the settlor, or by the settlor’s agent if authorized in writing to do so.”

And under § 15207 (a) thereof, “(t)he existence and terms of an oral trust of personal property may be established only by clear and convincing evidence.” Under § 1528 thereof, “consideration is not required to create a trust….”

Lastly, “a trust created pursuant to this chapter (1, part 2, Division 9 of the Probate Code) which relates to real property may be recorded in the office of the county recorder in the county where all or a portion of the real property is located,” under § 15210 thereof.

II. Mechanics Of A Land Trust:

A. Advantages And Benefits:

(1.) Privacy:

One of the much-heralded advantages of a land trust is that a grant deed-in-trust of a trust property in the name of a different trustee (private or institutional) may be recorded with the County Recorder, but the land trust agreement that states the names of the truster/settlor/investor and the beneficiaries is not recorded.

Thus, the creator/grantor of the land trust: the trustor/settlor who invests in real property can keep his/her/its name, as well as the names of the beneficiaries out of the County Recorder’s and County Assessor’s books, and to a certain extent hide the investment from public view.

But a judgment creditor of a trustor/settlor or of a beneficiary can subject the latter to answer written interrogatories on his/her/its assets, or to debtor’s examination under oath in court to determine assets, and not merely rely on County Recorder and Assessor asset searches.

The land trust agreement may also use a name for the land trust different from the name of the trustor/settlor who created it. This is another asset protection benefit. And if the beneficiary thereof is also the same trustor/settlor, the latter may designate his/her living trust or wholly-owned limited liability company as the beneficiary to hopefully avoid gift tax issues.

(2.) Avoidance Of Probate:

Moreover, just like successor trustees may be designated in the land trust agreement, successor beneficiaries may also be selected to avoid disruptions in distribution of trust assets at termination of the trust, outside of probate proceedings.

A land trust may be created as revocable (terms of the agreement may be changed) or irrevocable (cannot be changed), but the latter requires the filing of separate tax returns and is taxed at a higher rate than the trustor/settlor’s individual tax rate, unless considered a simple trust in which all incomes created are taxed to beneficiaries. For federal income tax implications, if the grantor/trustor is also the beneficiary, the Internal Revenue Service (IRS) classifies it as a grantor trust that has tax consequences that flow directly to the trustor’s Form 1040 and state return.

(B.)Disadvantages And Pitfalls:

(1.) Separtate Agreement For Each Property:

In order to preserve the privacy of the investment or transaction and the asset protection benefits of the land trust, only one real estate property can be listed as held in it. Thus, a different land trust agreement is created for each property. This could be cumbersome, although the same trustor/settlor, trustee, and beneficiary can be named in each agreement.

(a) Simpler Alternatives:

Simpler alternatives are to purchase investment or rental properties through a limited partnership (LP) or a limited liability company (LLC), or transfer such properties to a more flexible living trust that does not require the filing of separate tax returns, or transfer the ownership interests of an LLC (not title of the property) to a living trust.

An LLC may also create a land trust by conveying title of a property to the trustee, and designate itself (LLC) as the beneficiary for privacy of ownership. Sometimes less is more; for indeed, creditors can see through and have recourse against avoidance of execution of judgment on properties through asset protection schemes. And transfers of ownerships of properties may result in tax assessments.

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Four Unconventional Ways to Land a $5K Loan With Bad Credit

A lot of folks got lifted high during the early part of the 21st Century. Times were good and promised to be so for a long time. Fearless about future debt, many consumers over-extended themselves. The economy fell flat thanks in part to this vast over-extension and the banking and mortgage industry that fed off of it.

As a result, loans came due with no cash flow to pay them. Foreclosures became normal. Credit card companies felt the pinch as members defaulted. Credit ratings suffered greatly. Presently, those folks have no recourse to any venues that could offer them any financial relief. A minimal $5,000 bad credit loan is unreachable.

People in this situation do have some options that they should consider while they try to rebuild their financial lives as well as their financial credibility. These options are perhaps not those that they would normally consider, but the times are not normal.

One: Familiar Loans

In one way this is the best scenario to get a much needed cash injection. In another, it could be the worst. Embarrassment is probably the biggest bar to approaching friends or family members for cash to get you through tough times. On the other hand, the terms for repayment can be quite flexible and interest rates can be low or nonexistent. Certainly, a loan such as this does not require a credit check. It would be wise and friendly to draw up a contract so each party knows what is expected.

Two: Salary Potentialities

Should a person in need of cash be to uncomfortable approaching family or friends, they might look to the workplace. Some progressive companies have opportunities for employees who have hit on hard times. A credit union may serve the company and it may be very happy to extend a loan at low interest rates and easy payback terms. If there is no credit union, sometimes an employer can be approached for a loan that can be deducted directly from future paychecks. Sometimes this sort of loan is available to promote loyalty and productivity.

Three: Non-Traditional Bad Credit Loans

Should the previous venues turn up dry, unsecured personal loans are available, either locally or via online lenders. Traditional lenders such as banks are not going to be forthcoming with any help for borrowers with poor credit. Online lenders do not consider credit scores and are usually eager to grant unsecured loans in the range of $500 to $10,000. The requirements are few; having steady employment and a bank account are often enough. The application process is easy and you can usually have cash in your account within 24 hours.

Four: Neighborhood Pawnshops

Do not cringe. For centuries shops such as this have been able to offer affordable loans to people in the community who find themselves a little shy of cash from time to time. Your loan will require security in the form of personal property offered as collateral that is equal to the worth of the loan. You will sign a document acknowledging your obligation. If you do not return to redeem the collateral, the shop is allowed to sell it to cover the loan.

No matter what sort of credit history you may have, you should be able to put your hands on some cash using the outlets described above. Just be sure you do not allow yourself to become a victim to any sort of fraud. Just be sure any money you do get is used responsibly and paid back according to the terms of any agreements.

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Construction Site Management – Accessibility

Construction sites offer different challenges as far as accessibility is concerned. This follows the fact that there is a mass movement of men (labor) as well as material haulers. These range from pick up trucks to trailers. Depending on the items being moved, the weight is different and as such the capacity of the route to and from site should match these requirements. There will also be visitors in light personal vehicles, especially consultants and prospective property buyers in case of commercial projects or prospective tenants in case of residential or other rental spaces. The available or provided access should well cater for these requirements as far as is possible. The different site conditions include;

· Virgin sites: This reflects to a new site where no other construction activity has been done before. This means that there is no access to the specific point of construction. Where such route may be available, it may not be sufficient and may need improvement. This may include works like cutting down trees, cutting high sections and filling low ones, dumping murram or other appropriate material. It will also include compact, wetting and curing of the dumped material. Being a new and sometimes temporary route, it will need maintenance. Where such access is to pass through other people's property, appropriate permissions should be thought. The local authorities must also be informed and provided with plans like ways of averting problems like ecological disturbance. It is usually wise to have the access route for construction being also the permanent access to the permanent route for accessing the completed facility.

· Existing sites: These are sites that have already been built upon previously. They may have existing access. The only hurdle would be where such access is still in use by others, as it will create an inconvenience and delivery use may be regulated to low peak periods only. There could also arise the need to provide alternative routes for the existing users. A good example here is road maintenance or improvement works, wherey diversions are created and maintained in good order during the construction period. Appropriate arrangements should be made to minimize inconvenience as well as prevent accidents.

· Tight Sites: These are unique sites in the fact that they have minimal space for maneuverability. Examples here are found in town centers or institutions. Regulation here is very strict and as such stringent measures should be put in place to follow such regulations. These sites are very difficult to manage as far as accessibility is concerned. An example is where concrete is to be delivered on site already mixed (In premix trucks). This presents the headache of timing as well as preventing inconvenience to other users.

The provision of access to sites should be a well thought out activity. Maintenance should be in top priority. The design of such access roads should also cater for the traffic envisaged for the said project. Road signage and other such furniture should also be provided and well maintained.

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Five Power Closing Techniques for Insurance and Financial Advisors

So, you have made it through the prospecting game. You made your cold calls, sent out your mass mortgage mailers, invited people to your coffee-sponsored seminars, you qualified responders as being serious prospects and have set the appointment.

Now what? You have done all this work, are you sure you are going to get their business? In this article are 5 closing techniques to help you solidify the deal and make the sale.

1. Quality Demonstration – If you are going to take the time to give a demonstration, be sure that you listen to your potential client’s needs and interpretations of what they expect to get out of your appointment. There is nothing worse than explaining variable life insurance and all the different cash options and disability waivers…to find out they only have a budget of $50 per month. So, listen and then tailor your demonstration to focus on their needs and to solve whatever void they need filled. Don’t get too wordy. The best demonstrations have few words, but are very poignant.

2. Small-closes – Throughout the demonstration, try to get periodic “buy ins” and acknowledgments that you are on track with solving their needs. Ask for their opinions, ask open ended questions; be sure to engage the potential client. If you can make many small closes throughout the sales process, then when it comes time to pull out the application, they won’t be shocked or caught off guard. When they ask a question, re-state their question. This does two things: it lets the potential client know that you are listening to their concerns, but it also restates to them what they have just said is their need. So, when the time comes for you to discuss possible solutions, such as term insurance to cover the mortgage, or a wrap-around disability income policy to substitute the rest of their income, then they cannot back out and say that it isn’t a concern.

3. Between 1 and 10 – This has got to be one of the greatest closing lines ever. It is easy to do, and it forces the potential client to sell themselves. When you have finished your demonstration, you simply turn to your client and ask them, “Between 1 and 10…10 being ‘I am ready to fill out the application and never worry about how my family will financially survive if something should happen to me’…or 1 being ‘I wish you would leave my house right now’….where do you fall? And no matter what they tell you, you ALWAYS answer, “Really, a “#”? Why so high?” Even if they tell you a “4”….you answer, “Really, a 4? I thought you would be a 3, you had your arms crossed and didn’t seem interested in anything I was saying. Why are you so high? What made you choose a 4?”

And then let them answer. Even with a low number, they will point out the features that they liked. They will point out the solutions that worked best. They will also tell you what they didn’t like…and then you can move forward from there. If they were turned off by the price….them give them other options. If they were turned off by the fee structure of A-share mutual funds, then tell them about B or C shares.

4. Suggest/Recommend– This isn’t so much a closing technique as it is a phrase that sets you apart from others by presenting you as the expert. Think about the times you have heard people use this phrase with you. Typically most large oil changing stations will say at the end of their “12 point inspection”, “I recommend you flush out your steering fluid or use a fuel injector cleaner”. What happens is that, they are recommending this to you, which gets you thinking, “hmm…they are the experts, perhaps I should listen to them”. Versus someone saying, “you NEED to do this.” That phrase turns us off. “I don’t NEED to do anything!” When you are sitting with a prospective client and you have finished your demonstration and they have agreed that they need to begin a college savings plan, or invest in a sound life insurance policy, the next phrase out of your mouth should be, “As your Financial Representative, I suggest we get started with…..” or “I recommend that we…..”. It sets you up as the professional that they will trust.

5. Take the sale away -This phrase sounds like the opposite of what you want to do, but rather than chasing someone for the sale, make them ask you for it. Statements like, “I don’t even know if you will qualify for this….why don’t we fill out some of the medical questions to see if we should even move forward with underwriting.” Or if they balk at the initial deposit to open a college plan or annuity, try saying, “You know what? Maybe you are right. This college plan doesn’t seem like the right fit to help you cover the cost of your children to go to any school they want to….why don’t you check out state savings plans through the bank…I believe that enrollment period starts in 6 more months”. This gets the person thinking, “Well what is wrong with me? I want to fit in, I want to belong.” When you push something, it moves away from you….when you pull the same item, it comes towards you. Another move you can make…if someone says that the premium is more than they want to spend, you can always say, “you know what, maybe you are right, but why don’t we go ahead and get you underwritten, see if you even qualify for this low of a premium, as you could come back rated. Then once you are approved, then we can determine which policy will work best for you.”

It takes a little time to change your thinking, especially when you are just starting out. But give it some time, and practice these steps. You will see clients becoming more attracted to you as a professional.

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Thermal Mugs: Plastic Vs Stainless Steel

The basic design of thermal mugs, whether they are plastic or stainless steel is the same – double wall insulation with a lid to seal the top. But even though stainless steel versions cost more than plastic versions, in the long run, they are the best deal for travelers. They can also be made of ceramic or glass, but those are generally designed for household use and not for travel due to the possibility of breakage.

The main benefits of a stainless steel mug are durability and better insulation. Steel is tough, and although plastic mugs can take a beating, a steel mug can last much longer. This is especially true when compared to the more brittle, hard plastic mugs that are sometimes used to display stylish designs and finishes. Although messy, dropping a steel mug of coffee will not generally cause any damage.

There are three basic types of insulation used; Air, foam or vacuum between double walls. Plastic versions usually use either air or foam. Both work acceptably, but air or foam is not as effective as vacuum insulation. More often than not, steel mugs use vacuum insulation which can keep beverages hot for a longer period of time. This can be quite important especially on long (and cold!) Morning commutes.

Beyond the two primary benefits, there are a few other benefits that stainless steel thermal mugs have when compared to plastic mugs. Plastic, being slightly softer, is more difficult to clean. You can use tough cleansers (making sure they're non-toxic!) On steel, but the same cleansers will scratch and damage plastic. For the same reason, plastic mugs tend to retain the flavors of the beverages that have been in them. This is not really a problem if you just drink regular generic coffee every day, but if you use the mug for different beverages, it can be.

When you look at all the factors, durability, ease of cleaning, effective insulation and better flavor, the stainless steel thermal mug is by far the best choice, even though it can be a bit more expensive. The only real benefits of plastic mugs are the lower price in the short run (which can be a big benefit if you lose your mug frequently!) And that they are slightly lighter than stainless steel mugs.

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Difference Between Employers’ Liability Insurance (ELI) and Workers Compensation Insurance (WCI)

Employers’ Liability Insurance (ELI) and Workers Compensation Insurance (WCI) are two important insurance covers to protect the interests of employees, as well as employers. There are, however, certain differences between the two. Due to these differences, it may result in wrongful litigation and consequently anxiety to parties involved. The differences between ELI and WCI are relating to where they apply and what they cover. We will discuss about them here briefly.

Where they apply

Employers’ liability insurance

As an employer, it is mandatory for you in UK to purchase employers’ liability insurance. Not purchasing attracts penalty under law. In certain situations your employees may feel that you are liable for job related illness/injury which they may sustain and they sue for this. If it is really a case, it may bring in expenses such as hospitalization, financial compensation and the like. ELI helps you under such circumstances.

While it is mandatory for you as an employer to have ELI, your employees need to prove that the job related injury/illness is because of your negligence. Imagine yours is a lumber business. While working, your employees should have the necessary equipment, training and skills to operate them. If you employ them without teaching the safety norms, imparting the training and checking the fitness, and they sustain injuries, it will amount to your negligence as per rules framed under Employers’ Liability Insurance Act and employees are likely to feel appropriate to sue you, because you are liable.

Workers compensation insurance

On the other hand, workers compensation insurance is a cover for the welfare of the employees. It depends on the circumstances that are the tone of relation between employer and employees. Thus, if you are more concerned about employees’ health and safety, you need to purchase this insurance. It does not matter whether it was your fault or your employees’ fault that resulted illness, accident or death, this insurance comes to your help.

Coverage

Employers’ liability insurance

As an employer, you have to go to court of law if the affected employee sues you. You need to pay financial compensation and bear the hospitalization and medication. ELI covers all these expenses.

Likewise, for employees ELI covers the permanent and temporary disability, injury and wrongful death at workplace. It covers the cost of litigation as well.

Workers compensation insurance

For employers, WCI is a Good Samaritan. In most cases, it ensures that your employees do not resort to litigation. However, in such unfortunate event, WCI covers the expenses because of litigation. It covers the financial expenses to be given to the affected employee for work-related injury, illness or even death.

Employees when inured at workplace, under WCI, are guaranteed to get compensation from the employer to cover medical and hospitalization expenses and certain portion of wages. In most cases, it is two-thirds or more. WCI covers the expenses on litigation, by the employee. In general, WCI takes care of the situation and makes sure that litigation on the part of employees is avoided.

WCI covers compensation (wages) in case of a temporary disability for the period of absence. If the individual got permanent disability, and not fit for employment in current occupation, WCI covers the expenses of vocational training and rehabilitation and cost of searching a job, if he wants.

Despite both ELI and WCI are meant to protect the interests of employees and employers, there are differences in the way they apply. You need to understand them and purchase a cover according to the need of your business.

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The Rights That Go With Real Property

The rights that go with real property can be summed up by the term appurtenances. When real property is sold, appurtenant rights are ordinarily sold along with it. They can, however, be sold separately, and may be limited by past transactions. In addition to knowing the boundaries of the land and which items are considered part of the real property (fixtures vs. personal property), homeowners and lenders also need to understand which rights are being transferred along with that parcel of real estate.

Fee simple ownership includes such other appurtenances as access rights, surface rights, subsurface rights, mineral rights, some water rights, and limited air rights. One way to understand the rights that accompany real property is to imagine the property as an inverted pyramid, with its tip at the center of the earth and its base extending out into the sky. An owner has rights to the surface of the land within the property’s boundaries, plus everything under or over the surface within the pyramid. This includes oil and mineral rights below the surface, and certain water and air rights. Air rights are sometime regulated by each state allowing for air traffic and water rights can differ from state to state.

It is possible, though, for the owner to transfer only some of the rights of ownership to another person. For example, a property owner may sell the mineral rights to a piece of property, but keep ownership of the farm. Later, when the land is sold, the mineral rights will most likely stay with the mining company (depending upon the wording of the contract involved) even though the rest of the bundle of rights in the land is transferred to the new owner. The new owner is limited by the past transaction of the previous owner, and may not sell these mineral rights to another party, nor transfer them in a future sale of the land.

A lender must know if the entire bundle of rights is being transferred (fee simple) or if there are restrictions or past transactions that may limit the current transfer of ownership in any way. This is important because it may have a great effect on the value of the real property. Transfer of access rights for a sidewalk to be placed across the front of a subdivision lot generally would not have a significant impact on the value of a piece of land. Transfer of mineral rights to a mining company, as in the previous example, likely would impact the value.

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Travel Masturbation: Rules of the Road

There’s nothing like a little travel to expand a person’s horizons. Of course, when traveling alone, many a man finds himself at one point or another alone in a hotel room and engaging in a nice bit of masturbation. It’s good for basic penis health, and can be an excellent way of releasing a little tension from travel-related obstacles, so there’s nothing wrong with it. But there are a few tips to keep in mind when masturbating while on the road.

1. Watch the porn channels. If traveling on business, remember that the company may not take kindly to the idea of paying for the visual entertainment one may pursue while masturbating. If taking advantage of some X-rated fare available on the television in the room, be sure any charges are on a private, rather than the company’s, credit card.

2. Be considerate. It can be nice for a guy to be someplace where nobody knows him, but that doesn’t mean he shouldn’t be considerate of other people in the hotel. It is fine to be a little more vocal while indulging in masturbation, but don’t let the moans and groans get so loud as to be overheard by the kiddies next door. And although exhibitionism can be fun among consenting adults, just because no one knows a guy doesn’t give him the right to pleasure himself with the curtains wide open.

3. Explore. There’s something about being alone in a hotel room that can make a guy feel more adventurous. If a man tends to be a little timid or set in his ways about masturbation, fondling oneself while away from home can be an opportunity to try new things. Consider a little anal play, masturbating with a different hand, using a different lubricant, varying the genre of pornography used, talking out loud or anything else that one is hesitant about at home.

4. Make use of men’s rooms. Traveling by airplane often entails a lot of waiting time – especially when a plane gets delayed for a couple of hours. Rather than fuming and getting angry, take matters in hand. See if there’s an empty stall in the men’s room and if there’s not a line of guys waiting, spend some time releasing tension in a fun and pleasurable way.

5. Be careful on the road. If traveling long distance by car, be careful if the urge to masturbate strikes. While many men do masturbate while driving, it is the very definition of a distraction, and can have serious consequences. It’s better to pull over to the side of the road or find a rest area with a men’s room and consider masturbating there instead. For those who do insist on keeping their hands on their penis instead of firmly on the wheel, slow down and try to do it on a road with little traffic.

A little travel and a little masturbation can go hand-in-hand – as can staying at home and masturbating. Wherever the masturbation occurs, regular use of a first class penis health crème (health professionals recommend Man1 Man Oil, which is clinically proven mild and safe for skin) can help keep the penis in good health and better prepared for pleasurable handling. Frequent or aggressive masturbation can make the penis skin rough and raw, so using a crème that includes both Shea butter (a high-end emollient) and vitamin E (a natural hydrator) is advised to add smoothness, moisture and suppleness back to the skin. It also helps if the crème contains acetyl L carnitine, a neuroprotective ingredient that protects against the peripheral nerve damage that can often accompany rough self-handling of the penis.

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The Importance of a Balance Sheet

An individual has two primary tools for managing personal finances. The Personal Balance Sheet is ignored and the Budget is the darling of Financial Consultants and the media. The key to understanding personal finances is that you have to understand your Budget and Balance Sheet individually and also how they work in combination to give you a complete snapshot of your personal finances.

Your balance sheet is extremely important because it shows you where the gold is. It is your personal Fort Knox. It is also extremely important because you need to have a stash of gold in your personal financial picture. The gold in your Balance Sheet is not the Assets. They are the positive side of your Balance Sheet but the real picture of how much gold you have in your Fort Knox is your Net Worth. So just as important to your Balance sheet is your Liabilities. The total of your Liabilities is subtracted from the total of your Assets to give you your Net Worth.

You fill out your Balance Sheet and total up your Assets and Liabilities. You subtract the total of your Liabilities from your Assets. That number, your Net Worth will come out to either a negative amount, an amount of or near zero, or it will be substantially positive. These are the only 3 scenarios possible.

• If your net worth is a minus number, you are not managing your financial resources properly. Your Balance sheet is your report card and you are failing. It is that simple. If you are managing your money to deal with life's challenges and planning your personal finances with your retirement in mind, your Net Worth should be positive and growing. If your net Worth is positive, you can ride out financial storms like the current situation. At the time of your retirement, your Net Worth must be substantially positive so that you will be able to keep costs down and have investment income to replace your working income. During your working years, your Net Worth should be growing steadily because a retirement nest egg does not grow without years of nurturing.

• There are circumstances where where it is acceptable to have a Net Worth of Zero or near Zero. The first is when you are just starting out. It just makes sense that it would be zero. You may have student loans but that is offset by some form of education that will allow you to make more money in the course of your lifetime. The key is that this is the best time to start building your net worth. It allows the principal of compounding value to work its magic on your assets for decades. That saves you a lot of work later in life. However, most of us are not that wise and we find ourselves in our 30s and 40s with little or no Net Worth. This means you have less time for compounding to work. So you have to work harder and especially manage your money smarter to prepare for the financial challenges you face going forward. The nice thing is that you have probably made some mistakes that have made you much wiser. You should be able to recover much faster than you would have in your undisciplined youth.

• If you have a positive net worth that means that you are building assets. Just as important is that you are controlling your debt. This is the key that has probably gotten you to this situation. The key to a positive Balance Sheet is that debt offsets the value of your assets when you look at your personal finances as a complete picture so your debt / equity ratio should be less than one and get smaller and smaller. Debt servicing saps cash flow on your budget that could have been used to build assets that can be used to produce income in your retirement years. Clear title ownership of assets such as your home reduce cash draw and this is incredibly important as you approach retirement.

The financial crisis we are in now is described as a Balance Sheet crisis. We are in this crisis because nobody was paying attention to their Balance Sheets, not even at the rising heights of our financial infrastructure. The symptoms were everywhere. While researching I found that the top sites on the internet for Balance Sheet are those who want to sell you something so that they can gain access to any assets on your balance sheet that might be left after this disaster. Before the disaster, the only thing that had any importance was whether a potential buyer of anything could afford to make the payments on whatever he was buying assuming he made 120% of his declared income. The most outrageous symptom was that people would take appreciating home equity and borrow against it to buy depreciating assets and consumer goods. They overbooked their budgets and now they have gutted their balance sheet.

The resulting loss of home values ​​is the disaster we have now where people have either a zero or minus Net Worth. The other aspect is that we are now wiser. For the good of our society and our financial infrastructure we had better be. Going forward we must pay attention to our Balance Sheets and recognize that is where the gold is. You must save and protect your gold. Net Worth is where financial power is and that is the Importance of a Balance Sheet.

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Seven Cover Reviews of the Best Travel Trailer Covers Sold on the Internet and Retail Stores

Usually an outdoor enthusiasts begins to show interest in a travel trailer when they feel that they have outgrown the “sleeping in the outdoors or tent” phase and are ready to enjoy the luxuries of home and yet still have that feeling of living & camping outside by the ocean or lake or in the mountains or desert. Purchasing a travel trailer is an investment that the RV owner hopes will last for many years and numerous excursions. Travel trailers can and will last for many years, sometimes decades. The interior will keep its looks as long as it is protected from sunlight exposure. If an RV is left uncovered the sun’s UV rays will beat down on the camper and fade the interior upholstery, curtains, blinds, carpets, and bedding. The exterior will show its age a great deal faster than the interior. In only a matter of years a travel trailer that is left unprotected from the weather, will exhibit quick and steady exterior damage when the decals fade, crack, spilt and eventually wear off. The plastic window and door seals will turn gray to black in just a year. The welded seams that connect the sides will expand and contract with every snow fall because freezing/melting cycle that occurs when the snow melts on the roof crevices but remain in the crevice, then re-freezes in the tiny, microscopic crevices. These seams will expand inevitably with the freeze cycle that causes a widening of the connecting seams. This constant cycle of water freezing, melting and re-freezing will eventually cause problems with the roof which results in very costly repairs.

The easiest way to prevent the aging process on your travel trailer is to cover it with the best RV cover for the area in which the travel trailer will be stored and for the time in which you will be storing your camping trailer. With so many RV covers on the market how are you going to be able to find the cover that you need?

For the most part, all of the deluxe RV storage covers discussed in this article are sold on the Internet (as well as Walmart, Sears, and Cabelas) and are basically made of the same material (polypropylene) with few differences. Advertised as deluxe winter snow covers these travel trailer RV covers, (Expedition, ADCO, PolyPro 3, Camco and CoverKing) are generally made of triple-layered breathable non-woven polypropylene. The roof/top of the cover is made to accommodate the AC on the roof and is usually large enough to extend over the sides to protect the awning. At the joining seams where the roofing top meets the single layer of polypropylene sides there are vent flaps that allow the cover “to breathe”. These vents prevent wind friction and moisture buildup that would cause mold and mildew to develop. The sides have several long zippered entry panels that will allow you access to your travel trailer during the storage period. The entire cover is usually secured with an integrated tie-down strap system with adjustable click-close buckles and tension panel flaps in the front and back of the travel trailer that reduce cover stress when tightening or loosening the straps on the cover. This gives the RV cover a semi-custom fit. The major differences between all of these winter snow covers comes in the price and the length of the warranty of the product.

Winter Covers for Travel Trailers 20-33 ft Cost & Warranty

Expedition by Eevelle Cost: $205 – $321 Warranty: 3 years

ADCO Designer made with Tyvek Cost: $262 – $365 Warranty: 2 years

Poly Pro 3 by Classic Accessories Cost: $273 – $341 Warranty: 3 years

Camco Ultraguard Cost: $262 – $415 Warranty: 2 years

CoverKing 600 Denier Presidium Cost: $375 – $575 Warranty: Repair for 1yr

When a travel trailer is stored through the summer in the extreme Southeast and Southwest, the cover must be made from an extremely rugged durable woven material. Travel trailers that are in the sun year-round must have a cover with ultimate UV protection. Winter snow covers (like the Expedition, PolyPro 3, Camco Ultraguard, CoverKing Presidium & the Tyvek ADCO cover) disintegrate within a few short months if they are used to protect the RV through the summer. The non-woven fabric cannot stand up to the intense UV rays in this area of the United States. There are two RV covers made of woven material. The first cover that is made with the newest technology in UV block protection is called the PermaPro RV cover made by Classic Accessories. This RV cover is backed by the newest technology in extra strength UV block protection. The PermaPro cover is made of a light weight extra strength ripstop fabric that is tear resistant with nylon reinforcements in the material. The fabric resembles that used in parachutes and athletic wear. This water-repellent fabric repels rain and snow to make it an all season protective RV cover. This travel trailer cover ranges in cost from $375 – $505 and is backed by a four-year warranty.

The Goldline RV cover sold by Eevelle has long been recognized as the best RV cover by customers and dealers alike. The Goldline RV covers are designed to outperform every other RV cover in all the critical categories of RV protection- strength, durability, water repellency, etc. The extra strength yet supple Goldline Tru-weave woven fabric can handle the strongest winds and can stand up to the extreme UV rays of the sun as well as being a water-repellent rain & snow semi-custom storage cover. This travel trailer cover ranges in cost from $455 – $578 and is backed by a five-year warranty. The Goldline is also the only RV cover made for small travel trailers (10 – 20 ft.) as well as the extremely large ones (up to 46 ft. long).

PermaPro and Goldline are the only extra strength travel trailer covers that can be used as summer storage covers. Their woven design stands up to the winds that accompany winter and foretell the change of seasons. Both of these covers are truly all season RV covers that will protect the investment you made into your travel trailer as well as all the upcoming vacations & excursions you will take well into the next several years.

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