February Complimentary Workshops & Networking Events

Hello all. What a gorgeous sunny summer day in Southern CA in January. Come see me next month and learn how you can have a tax free retirement! I would love for you to be my guest.
MONEY 101 6:30pm-8:30

February 20th
Money 101 -
San Francisco/Bay area
(More info to follow)

February 21st
Money 101 - San Marcos
Old Spaghetti Factory

February 22nd
Money 101 - Newport Beach
Old Spaghetti Factory

February 23rd
Money 101 -Torrance
Marie Callender's

February 23rd
Money 101 - Temecula
(location TBD)
**Please note Temecula Money 101 is the same evening as the one in Torrance**

WINE, WOMEN & WEALTH 7-9pm

February 6th
Wine, Women & Wealth - Carlsbad
RELM

February 8th
Wine, Women & Wealth - Irvine
Wine Styles

February 13th
Wine, Women & Wealth - Redondo Beach
Total Wine

February 15th
Wine, Women & Wealth - Rancho Bernardo
Rancho Bernardo Winery

Feb 20
Wine, Women & Wealth - Temecula
The Wine Company

Assurant Health

Hello all. I just wanted to share with everyone that I now offer insurance through Assurant Health.
http://katherinezacharias.mymedicalquotes.com

Great referrals & testimonials

Hello all. I got this testimonial a short time ago and I was literally in tears. It feels so good to be able to assist others.

Our very own Katherine, Wichmann-Zacharias recently helped my pregnant daughter and her husband. She was having issues with her COBRA and so I referred her to Katherine who I had met through EWomen Network. I remembered her describing her extensive experience with COBRA insurance. Well, in this particular case she wasn't able to get them a policy at this time but did refer her to where she could access just what she needed. This was huge for this little family waiting on their first little baby that they have tried for 2 1/2 years to conceive. To help with lowering the financial burden for them is huge for their piece of mind. I will continue to recommend Katherine to others as she really does have their welfare in mind.
Thank you Katherine!
Sincerely,
Carrie Tomseth
CardMailbox.com

Check out www.eWomenNetwork.com. It's been the best networking group and referral source for me.
Please remember to give people referrals and thank them for their help if they do a good job for you. Have a great dry weekend!

Cobra subsidy expiring soon

COBRA/CalCOBRA Subsidy Expiration
A 65% Federal subsidy was provided in 2009 to those who continued their employer-sponsored coverage. Without this subsidy, individuals could see their monthly payments increase more than 240% (from $374 to $1,068 on average), making continuing coverage very expensive. Contact me for free assistance on getting your own individual or family plan.

Make Sure Your Health Insurance Plan is Grandfathered

Hello all. Well, this a.m. I was in a very interesting Anthem Blue Cross meeting. Please make sure that the health insurance plan you are currently enrolled in is one that will be grandfathered for 2013. It seems that will be one of the parts of the new reform that will occur. When the new reform happens in 2013, some plans will be grandfathered, the ones with Anthem specifically. They will still be in "the game". Many insurance companies are expected to leave the market once the govt plan is put in place. The government plans will of course be much more expensive than the private plans we have today. If you do decide to move to a government run plan you will NOT be able to move back to a private plan if you so choose so please be careful and keep an eye on this reform as it happens these next few years. Thanks! Have a wonderful day!

Financial Planning Challenges for Double-State Dwellers

Are you a double-state dweller? In other words, do you live up north in the summer and head south with the “snowbirds” each winter? Do you have an out-of-state vacation home where you stay each summer? If you own property in two different states, you could face some complicated financial issues. Fortunately, a skilled financial advisor can help you resolve these problems with some careful planning.

If you call two different states your home, here are a few potential challenges you could encounter:

Permanent residency confusion

If you own a vacation home in another state, you probably consider one state your “home,” and the other state just a place you like to visit. However, the governments of those two states may look at it differently. Depending on whether or not these states deem you a resident, you could pay a hefty price.

For example, let’s say you live in Michigan, but you head south to Florida to live in your vacation house for a couple of months each winter. First of all, because you own property in more than one state, your estate could be subject to probate in both Florida and Connecticut. Additionally, there could be severe income tax issues. While Michigan has relatively high income tax, Florida has no state income tax at all.

First and foremost, you need to determine whether you are considered a resident of both states. Generally, if you spend more than 183 days in a state, that state is more likely to see you as a permanent resident. However, this is just a simple rule of thumb. When it comes to financial planning, things can get much more complicated.

If you want to more strongly establish your permanent residency, you should register to vote there, keep your driver’s license and car registration in your main state and set up your financial accounts with banks and brokerages in your home state. You should also hold onto any financial records that document your residency and keep receipts that show where you are living during a certain time of year.

Probate problems

If you own property in more than one state, your estate could be subject to probate in both states. This means your heirs could be heavily taxed after you die, and they may not receive as big of an inheritance as you had hoped.

To help resolve probate issues, many financial experts say you should place any property you own in a second “nonresident” state, such as a vacation home or condo, into a revocable trust. This ensures the property will be passed onto your beneficiaries free of probate.

Health insurance complications

People who own property in two states should also take a close look at their health insurance coverage. Generally, health care plans cover only a specific geographic area. Therefore, if you split your time between Maine and North Carolina, you may need to purchase two health care policies to make sure you are covered in both states.

Alternatively, you could switch to a different type of health care policy. For example, if you have an HMO (health maintenance organization), your insurance likely won't cover medical costs if you visit a doctor outside of your network. However, if you switch to a PPO (preferred provider organization), your health insurance will cover at least a portion of the costs if you go out-of-network.

Homeowner's insurance issues

You should also review your homeowner's insurance coverage if you spend considerable time in another state. Your coverage may change if you leave your home unoccupied for a long amount of time. Additionally, if you’re renting a home or condo in another state, you will need to purchase renter’s insurance to protect your personal items inside the home.

If you split your time between two states, you could face these financial issues and many others. You may want to meet with a financial professional who can help you plan carefully and overcome these types of challenges.