𝐓𝐢𝐩 𝐓𝐮𝐞𝐬𝐝𝐚𝐲: 𝐇𝐨𝐰 𝐃𝐨𝐞𝐬 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐏𝐎𝐀 𝐖𝐨𝐫𝐤?Q: What is a financial power of attorney (POA)?A: A financial power of attorney is a document that gives someone else the power to make financial decisions for you.If you create a financial POA, you might be referred to as the principal.Haven’t you always wanted an agent? Now you can have one! The person you appoint to take care of your finances is officially your agent.Here’s all you need to know about financial POA.How does a financial power of attorney work? Financial POA allows your agent to manage all of your finances when you are not physically or mentally able to do so on your own.As much as you might think it should be otherwise, your finances won’t freeze just because you’re laid up in bed. Those bills will keep on coming! But if you’ve appointed someone to be your financial double, you won’t have to worry about your finances when you can’t manage them on your own.What can a financial POA do?Well, that depends on how much permission you grant them.This can include the following powers:Make financial decisionsManage your accounts and investmentsManage your propertyPay your billsPay your taxesSell your assetsWhen does a POA become effective?Again, this depends on your personal choice.You might prefer to have your POA become effective as soon you both sign the document. Maybe you travel often and you want someone to be on hand to make financial decisions when you’re out of town. Or, you might want your POA to become effective only if, and when, you are incapacitated for whatever reason. Just make sure to put that in the document.In some states, though, you won’t have a choice: your POA will automatically become effective if you become incapacitated.When does a POA end? Once you and the agent sign the POA, it’s binding until death unless one of the following occur:You revoke it.A court invalidates it.The agent can’t represent you.You become incapacitated and your POA does not continue after incapacity.What can happen if you don’t appoint a POA? If you don’t appoint a POA, your finances will automatically revert to the state if you become incapacitated.If this happens, your family will need to go through the courts to regain control of your assets.It will be a long, expensive battle that can easily be avoided with one magic document: a POA.Your Turn: Have you drafted a POA? Tell us about it in the comments.

Tuesday, March 2, 2021

Monday Motivation...

Monday, March 1, 2021

Talking Points For Kids: Impulse PurchasesTalking points:* What are some things that lead us to make impulse purchases?* Are impulse purchases always regretted?* How do grocery store setups influence us to make impulse purchases?

Sunday, February 28, 2021

#teentrepreneurIsabel and Caroline Bercaw Co-founders of Da Bomb Bath FizzersAges: Isabel, 19; Caroline, 18. Hometown: Minneapolis, MinnesotaWith a $25 investment of supplies from their mom, the Bercaw sisters, then 11 and 12, developed a bath bomb formula in their home that did not leave a ring around the tub. They also placed a gift inside the bath bomb, so when the fizz is over, the fun doesn’t end.The sisters have a mission to help provide clean water to schools and villages in Kenya and have co-authored several books.They have been included in the 2019 Forbes 30 Under 30 list for young leaders in retail and ecommerce and were named 2019 Ernst & Young Heartland Entrepreneurs of the Year.Website: dabombfizzers.com; Twitter: @daBombFizzers; Facebook @dabombfizzers; Instagram: dabombfizzers; YouTube: Da Bomb Bath Fizzers

Saturday, February 27, 2021

Friday Brain Teaser...Which month has 28 days?Share your answer with us in the comments below.

Friday, February 26, 2021

𝐇𝐄𝐘 𝐘𝐎𝐔...If you're thinking about buying a home or already have a mortgage, there's a good chance you could be saving a TON OF MONEY.Not only are mortgage rates near historic lows, at MembersAlliance, our members just flat out SAVE MORE.https://www.membersalliance.org/lp/special-offers.html...https://www.facebook.com/MembersAlliance/videos/3133414926761572

Friday, February 26, 2021

We’re hiring!Are you’re looking for something new, or know someone who is?We’re looking to fill a few positions with a range of experience levels.Click on the position to learn more and apply.Mortgage Loan Originator, Rockford, IL - Job Details | Indeed.com>>> https://bit.ly/3bgClpLLead Loan Officer, Rockford, IL - Job Details | Indeed.com>>> https://bit.ly/37qLjQfLoan Administrator II - Part-Time, Rockford, IL - Job Details | Indeed.com>>> https://bit.ly/3qCLa3uFull Time Special Service Representative, Rockford, IL - Job Details | Indeed.com>>> https://bit.ly/3qCQzYC

Friday, February 26, 2021

Happy Friday!!!Today is National Pistachio Day...Enjoy some of those tasty little morsels today.

Friday, February 26, 2021

A shout out to By The Dozen Bakery!Thank You for being one of our “Partners In Kind” (PIK) partners.Next time you are craving a donut or a great sweet think By The Dozen Bakery!And, When you visit By The Dozen Bakery, remember to say thanks to them for supporting our PIK effort.We are encouraging everyone to continue to support your local businesses! They are the lifeblood of our great community.Please pass this on to your all of your family and friends if you would..Our goal with the Partners in Kind initiative is simply to spread goodwill in our community with small acts of kindness and encourage you to join us and pass it on.Is there something small you could do to brighten someone else’s day today?We Care, That’s Our Promise!#passiton #wecare #sharekindness #partnersinkind

Thursday, February 25, 2021

Talking With Kids...

Thursday, February 25, 2021