Estate planning done right

In our Filipino community, there seems to be a reluctance to engage in comprehensive estate planning through the execution of living trusts, wills, and powers of attorney.  Instead, many families have traditionally relied on adding the children and other chosen heirs on the home’s title as joint tenants. This is not a smart solution.  Joint…

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Pessimistic

FOR a country infamous for its “dirty politics,” conducting a peaceful and clean conduct of elections will be a challenge for the Philippine government. While the country’s polls have been automated since 2010, some Filipino voters still express concern over possible cheating in the general elections in May. About four in every 10 Filipinos believe…

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Oscar winner wears piña by Oliver Tolentino

Fil-Am Oscar winner Ronnie del Carmen, who co-directed and co-wrote “Inside Out,” wore a piña tuxedo by Hollywood Filipino designer Oliver Tolentino at the 88th Academy Awards on Sunday, Feb. 28. “Inside Out” won the Oscar for Best Animated Feature Film. Co-director Pete Docter and producer Jonas Rivera collected the award. Del Carmen personally was…

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The thrill of crime reporting

“No one is spared from crime, however, at the center of the hurricane of crime, is a brotherhood of hard men, who fight for whatever justice is possible in this deadly world.” I went through the grinder back in the Philippines as a crime reporter of a tabloid, (People’s Tonight) that started off by exploiting…

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Missing German found off PH coast

THE body of a missing German adventurer was found inside an abandoned yacht off the coast of Barobo in Suigao del Sur. Two Filipino fishermen over the weekend discovered the body of 59-year-old Manfred Fritz Bajorat inside a 40-foot yacht called Sayo, which had been sailing around the world for the past two decades. Bajorat’s…

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Why is Aquino so afraid of Marcos?

Aquino’s afflictions Undying hatred of the “Marcos past,” unreasoning fear of a “Marcos-friendly future,” and total rejection of any suggestion from any source that Filipinos had begun to rethink the real value of Martial Law and Ferdinand Marcos’ real standing among Philippine Presidents are among the saddest afflictions of President B. S. Aquino 3rd. These…

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Business owner files chapter 7 as losses mount

Young client seeks chapter 7 relief for $$70K credit card debt   Business owner files chapter 7 as losses mount CLIENTS are spouses who own and run a business together. They own an S-corporation that has been in business for 20 years. They have 10 employees. An S-corporation, as distinguished from a C-corporation, is one…

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12 ways to avoid an IRS audit

1. DO not boast about how you got away with undeclared income or manufactured deductions. Ever heard of whistleblowers? They earn rewards of 15% to 30% of your assessments. If you have a tendency to be creative, keep it to yourself. Just shut up. Better yet, stop being creative. Remember the law of averages. Remember…

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Why bankruptcy may not be as bad as you think

SLEEPLESS nights. Stressed out. Worried about the future. Always broke. This is what most people are going through when they are considering bankruptcy in order to get out of debt.  The word “bankruptcy” often produces negative feelings because some people equate it with failure. But nothing can be further from the truth. Bankruptcy is not…

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A Lenten examination of conscience

JESUS, can we drink the cup that you drink or be baptized with the baptism with which you are baptized? Can we really do this? Can we accept failures? Can we accept imperfections in people, in church, in government and in business? Can we forgive and understand those who annoy us, who do not share…

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