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Simon Volkov's Articles in Finance

  • What Are Structured Settlements And How Do They Work?
    Structured settlements are used to compensate individuals who have been awarded a large sum of money. They are most commonly used when an individual has been seriously injured or disabled due to the negligence of another individual or organization. They are also frequently used to pay jackpot lottery winnings.

    Instead of paying a lump sum of cash, structured settlements are paid out over a period of time. Payments can be issued monthly, quarterly, semi-annually or annually...
  • What Are Cash Flow Notes And Why Do You Need Them?
    Cash flow notes are legal contracts which document financial transactions between two or more parties. Currently there are more than sixty different types of cash flow notes. Some of the most common include: real estate, structured settlement, business notes and seller carry back financing.

    Real estate cash flow notes and land contracts are secured by real property. These might include commercial buildings, vacant land, single dwelling houses or multi-family dwellings such...
  • Types Of Promissory Notes
    Promissory notes are used to record details of a loan transaction between two or more parties. They are used in a variety of financial and real estate transactions, business loans, and personal loans between family members and friends.

    It's important to realize promissory notes are legal contracts and can be used against you in a court of law. Before signing any agreement, it's essential to understand the different types of promissory notes and how they are used.

    Types ...
  • How Inheritance Tax Affects Heirs
    Inheritance tax is imposed on most property transferred to heirs. Nearly all inherited property is taxed at the federal level and tax rates are based on the fair market value of the property. The amount of inheritance tax is determined by the appraised value of the estate as well the beneficiary's relationship to the decedent.

    Most inheritance property is bequeathed to heirs through a Will or Living Trust. Two types of property can be gifted through a Will -- specific gift...
  • When Bankruptcy Is Your Only Option
    Bankruptcy can be traced back to the Old Testament. According to the Bible, Moses Laws eliminate all debts every 50 years. The Hebrew law of forgiveness instructs a release of debt every seven years. So why, in today's modern age, does bankruptcy have such a negative connotation connected to it?

    For many Americans, bankruptcy is the epitome of failure. Even when it was easy to file for bankruptcy, most people attempted to dig themselves out of their financial hole and cons...
  • How To Keep Your Estate Out Of Probate
    Probate is the legal process that requires property belonging to an individual who is deceased be accounted for and properly distributed to heirs. The main objective of Probate is to ensure the decedent's wishes are met and that creditor claims, tax liens and outstanding debts are paid in full.

    Probate is governed by county and state Probate Courts and laws vary from state to state. Many people believe if they file a Last Will and Testament, their estate will not have to p...

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