What Does Liability Mean on Your Car Insurance?

Liability insurance is very important and most state auto insurance laws require that an individual maintain at least liability insurance on their automobile. What it does is protect you against costs that are associated with the damage and injury of another in an automobile accident in which you may be deemed at fault.

There are two parts to the policy. There is property damage liability and bodily injury liability. It is pretty easy to guess that property damage liability is going to protect you against any cost and damage that is associated with damaging another person’s physical property and that bodily injury liability is going to protect you against the personal injury inflicted on someone else as a result of the accident.

Usually, there are some numbers that a person may see on their policy. These numbers usually look like this: 50/100/25. Now what this means is that the policy is split up into three different amounts each policy can be different depending on what the individual chose when they opened the policy. In this case, 50/100/25 means that the insurance will pay for the bodily injury of an individual in an amount up to $50,000, will pay for the bodily injury costs on everyone in a vehicle in an amount up to $100,000, and will pay property damage costs up to $25,000.

Every vehicle requires its own level of liability insurance depending on what state you are located in. It is important to know what your state’s auto insurance requirements are so that you have an idea of what you would have to pay in your insurance premium.

The cost

Liability insurance is cheaper than full coverage insurance that also includes damages from theft, natural disaster, and vandalism. Liability only covers costs associated with an accident so that you do not lose your hard earned assets in a lawsuit. There are have been cases in which a person has been sued for more that what they have in coverage, but the liability insurance does lessen the blow. However, a person can pay for different levels of liability insurance to ensure that they will not be “taken for everything they’ve got.” Not having enough insurance can still have a heavy impact on a person’s life when an accident occurs.

No one intends on hurting another and they usually do not purposely engage in an auto accident because there is so much trouble involved, including the possible loss of the vehicle. That is why it is important to carefully assess how much car insurance you think you will need. Liability insurance is rather affordable. Some states have a minimum requirement of 20/40/10, but you could carry something such as a 50/100/50 if you think you need it. The cost is still not going to be much.

Just remember…

Don’t forget that if you set your limits too low you could be setting yourself up for financial disaster even though you have insurance. This is to be considered carefully. It is easy to make the decision to save money by paying the lowest premium possible, but paying the lowest premium possible could later result in the loss of your assets. It is also important to remember that liability just covers bodily injury and property damage. If a tree falls on your home during a wind storm, it is then time to assess your options. However, liability insurance will protect you from those nasty lawsuits that may come your way as a result of an accident. That in itself makes it more than worth the money because you have the peace of mind that most or all your assets are protected.

Posted in general | Tagged , , | Comments Off on What Does Liability Mean on Your Car Insurance?

Trusts and Certyty of Intention

This article looks at the requirements and formalities for a valid trust. In UK law, a trust is an arrangement involving three classes of people; A Settlor, Trustees and Beneficiaries. The Settlor is the person who transfers property to the Trust. The Trustees are people who legally own the Trust Property and administrator it for the Beneficiaries. The Trustee 'powers are determined by law and may be defined by a trust agreement. The Beneficiaries are the people for whom benefit the trust property is held, and may receive income or capital from the Trust.

"No particular form of expression is necessary for the creation of a trust, if on the whole it can be gathered that a trust was intended." This statement gives the impression that no formalities are needed, and could be misleading. Although equity generally does look to intent rather than form, mere intention in the mind of the property owner is not enough. For a valid trust to exist, the Settlor must have the capacity to create a trust. He must positively transfer the trust property to a third party trustee or declare himself trustee. Further, he must intend to create a trust, and must define the trust property and beneficies clearly. This is known as the 'three assurances'; Certificate of subject matter, certainty of objects and certainty of intent.

Certificate of intent refers to a specific intention by a person to create a trust arrangement wheree Trustee (which may include himself) hold property, not for their own benefit but for the benefit of another person.

It is clear when trusts are created in writing and on the advice of legal professionals that intention is present [Re Steele's Will Trusts 1948]. However, no particular form of words is needed for the creation of a trust and here the equivalent maxim, "Equity looks to intent rather than form", applies. It is therefore sometimes necessary for the Courts to examine the words used by the owner of the property, and what obligations if any the Owner intended to impose upon those receiving the Property.

It is not necessary that the Owner expresses calls the arrangement a trust, or declares himself a trustee. He must however by his conduct demonstrate this intent, and use words which are to the same effect [Richards v Delbridge 1874]. For example, in Paul v Constance 1977, Mr Constance did not express declare a trust for himself and his wife, but he did insure his wife that the money was "as much yours as mine". Additionally, their joint bingo winnings were paid into the account and withdrawals were considered as their joint money. The Court therefore found from Mr Constance's words and conduct that he intended a trust.

Certiety of intention is also known as certainty of words, although it has been suggested a trust may be infringed just from conduct. Looking at Re Kayford 1975 1All ER 604, Megarry J says of certainty of words, "the question is whether in substance a sufficient intention to create a trust has been identified". In this case, Kayford Ltd deposited customer's money into a separate bank account and this was held to be a "useful" indication of an intention to create a trust, although not definitive. There was held to be a trust on the basis of conversations between the Company's managing director, accountant and manager so words were necessary for the conclusion.

In contrast, where the word 'trust' is expressly used, this is not a comprehensive evidence of the existence of a trust – the arrangement may in fact institute something very different [Stamp Duties Comr (Queensland) v Jolliffe (1920)]. For example, the deed may contain words such as "On trust, with power to appoint my nephews in such shares as my Trustee, Wilfred, shall in his absolute discretion decide, and in default of appointment, to my friend George". Although professing to be a trust, Wilfred is not under an obligation to appoint the nephews and provision is made for the property to pass to George if he does not. This is therefore a power of appointment, not a trust [eg. Re Leek (deceased) Darwen v Leek and Others [1968] 1 All ER 793].

Sometimes in a will, the owner of Property will use 'precatory' words such as expressing a 'wish, hope, belief or desire' that the receiver of property will handle it a certain way. For example, in Re Adams and Kensington Vestry 1884, a husband cave all of his property to his wife, "in full confidence that she will do what is right as to the disposal between between my children …". The Court held that the wife may have been under a moral obligation to treat the Property a definite way but this was not sufficient to create a binding trust. Precatory words can still sometimes create a trust. In Comiskey v Bowring-Hanbury 1905, the words 'in full confidence' were again used, but the will also included further clauses, which were interpreted to create a trust. The Court will look at the whole of the document to ascertained the testator's intention, rather than dismissing the trust because of individual clauses.

There are further formalities required for certain types of trust property, and for a trust to be valid, title to the trust property must vest in the Trustee, or, the trust must be "constituted". This might be done for example, by delivery for chattels or by deed for land. If the trust is not properly constituted, the proposed beneficaries have no right to compel the Settlor to properly transfer the Property, as 'equity will not assist a volunteer'. The exception to this is where the beneficiary has provided consideration (including marriage) for the Settlor's promise, in which case, there would be a valid contract and the Beneficiary could sue for breach.

Where a testamentary trust of land or personalty is purported, the will in which it is contained must be in writing and executed in accordance with Section 9 of the Wills Act 1837, which means the Will must be signed by the Testator in the joint presence of Two witnesses, and then signed by the two witnesses in the presence of the Testator.

Where a Settlor wants to create an inter vivos trust of personalty, the formalities are minimal. Under the usual requirements for a trust (capacity, the three responsibilities etc), the Settlor must observe any formalities required to properly transfer the Property to the trustees – for example, the execution and delivery of a stock transfer form for shares.

To create an inter vivos trust of land or of an equitable interest in land, in addition to the formalities of transferring the land, the declaration of trust must be in writing and must be signed by the person able to create the trust – ie, the Settlor or his attorney [S.53 (1) (b) Law Property Act 1925]. Where this formality is not accepted, the Trustee would hold the land on trust for the Settlor rather than the Beneficiary. The exception is where the rule in Strong v Bird 1874 applies – the Settlor intended to make an immediate unconditional transfer to the Trustee, the intention to do this was unchanged until the Settlor's death, and at least one of the Trustee is the Settlor's administrator or Executor. In this case, as the property is automatically vested in the Settlor's personal representatives and the trust is constituted.

It is sometimes stated that no particular form of expression is necessary to create a trust if intention was present. Clearly this is not the case. There are formalities for creating inter vivos land trusts and testamentary trusts and if these are not followed, the trust will fail without consideration has been provided or the rule in Strong v Bird 1874 applies, even if the Trustee had the best intentions. Further, the form of words used in those formalities must be clear and unambiguous, or they may not amount to a trust. He goes on to say that 'a trust may be created without using the word "trust"' and this is true in that other words and conduct to that effect are sufficient. However, the Court does not just regard the 'substance' of the words. If the word used does not meet the 'three assurances' or, for example, the person making the declaration does not have the capacity to make a trust, the trust will fail. This is clearly not the desired 'effect' and not the owner's intention.

Posted in general | Tagged , , | Comments Off on Trusts and Certyty of Intention

Plannet Marketing Review – Is This Travel Company The Real Deal?

So lately, I’ve been getting a few messages about a new Travel-based Network Marketing company called Plannet Marketing. And chances are if you’re reading this, you’re probably thinking about joining and you’re doing some last minute research on the company. If that’s the case, then look no further. In this Plannet Marketing Review, I’ll cover all the essential details you’ll need before you join. With that said, I do want to disclose that I am not a Plannet Marketing distributor. In all honesty, it really doesn’t matter to me one way or the other if you join so you know you’ll be getting a truly unbiased review.

Who Is Plannet Marketing?

Plannet Marketing is a company that sells travel through a Network Marketing business model. The company is based out of Atlanta, Georgia and as of this writing Plannet Marketing is just over 6 months old. The company was founded by Donald Bradley, formerly of YTB and Paycation Travel. Bradley brings with him 20 years of experience in Network Marketing. Before starting Plannet Marketing, Bradley was the Master Distributor and #1 Income Earner in Paycation Travel. He literally had everyone in Paycation in his downline and was responsible for bringing in the company’s top leadership group. I’m not sure what happened, but around the time Craig Jerabeck and Barry Donalson left 5linx and joined Paycation was the same time Bradley decided to leave. Maybe he didn’t feel good about those guys joining and being sponsored by the company when he was the Master Distributor. Who knows? And who really cares? Regardless of the reason, it looks like Bradley was willing to walk away from everything he built to start from scratch again. Overall, the company looks pretty solid. And while it’s too early to tell if they’ll even be around for the long haul because they’re only a few months old, Bradley and the other members of the Corporate team bring a ton of experience in Network Marketing and Travel, which is a good thing.

How Do You Make Money With Plannet Marketing?

The actual compensation plan provides several ways for distributors to get paid. But the crown jewel of the compensation plan is the 3X9 Matrix. With a Matrix model, it’s critical that you get a spot early on if you want to capitalize on spillover. If you’re positioned underneath a strong builder, you can benefit from their efforts as they place people under you while they’re filling up their Matrix. With a fully filled 3X9 Matrix, you’ll have 29,523 distributors underneath you. If they’re all active and you get $4 monthly from each distributor, you can make up to $118,092 monthly. In addition to your Matrix pay, you can also earn a 10% Match on the Matrix pay of your personally sponsored distributors.

In addition to the Matrix, the company provides monthly bonuses to Directors. Here’s a simple breakdown of how the Director bonuses work:

1 Star Director – 100 active distributors – $500/month

2 Star Director – 300 active distributors – $1,000/month

3 Star Director – 500 active distributors – $2,000/month

4 Star Director – 1,500 active distributors – $5,000/month

5 Star Director – 4,000 active distributors – $10,000/month

6 Star Director – 10,000 active distributors – $16,000/month

7 Star Director – 25,000 active distributors – $30,000/month

8 Star Director – 50,000 active distributors – $50,000/month

9 Star Director – 100,000 active distributors – $100,000/month

Between the Matrix Pay, the 10% Match on your personals and the Director Bonuses, it’s pretty clear that there’s plenty of money on the back end. If you’re a strong team builder and you have a knack for creating good culture, Plannet Marketing might be a very lucrative opportunity for you.

Should You Join Plannet Marketing?

Well, only you can truly answer that. The company certainly looks solid. Travel is a very marketable service that’s easy to talk about. And the compensation plan is generous and lucrative. All those things together should guarantee success, right? Unfortunately, nothing could be further from the truth. At the end of the day, it is your ability to sponsor people into your business on a consistent basis that will lead to your success. This is why I recommend that you learn Attraction Marketing. If you can position yourself in front of prospects that are already looking for what you’re offering, you’ll have no problem getting leads online. And if you have an abundance of quality leads, there’s no telling how successful you can be.

Posted in general | Tagged , , | Comments Off on Plannet Marketing Review – Is This Travel Company The Real Deal?

Life Insurance – Should You Buy A Rider Or Complete Policy For A Spouse, Child Or Dependent?

There are many arguments as to who really needs a complete life insurance package and who needs some form of coverage in the form of rider. Does you really really need a rider if you already have a life insurance policy? Does you child or dependent really need one too?

To answer this question correctly we must understand the basic needs life insurance coverage meets …

A life insurance policy is basically meant for breadwinners or persons who demise will cause hardship for their survivors. Although there are other reasons why people buy life policies this is the main reason.

Some insurers have certain riders to cater for spouses and dependents. Such riders add term life coverage for such a spouse or dependent. It certainly makes more sense to buy a dedicated term life insurance for such a person if you think it's necessary. You'll almost always get a far lower rate per $ 1,000 coverage for the person in question if you get another complete term life insurance policy.

For the dependent, you really do not need any form of life insurance for a child unless you want to start a foundation in their memory or make a donation to their favorite charity if they pass on. If you're thinking in such lines then you'll serve that cause better by getting another life insurance policy for such a child or dependent instead of a rider.

We can make an exception for rare cases (like child actors) where the family fortunes will be dramatically altered if such a child passes on. Life insurance is a real necessity then. Like I explained when I talked about the main reason for a life insurance policy, such a child shares considering to the family's finances. Therefore the loss of that child will result in the loss of such financial contribution with the attendant consequences.

If you've decided to buy a life insurance for yourself, spouse or dependent, you'll get far better rates if you get and compare many quotes from many different insurers. This is due to the difference in rates from insurers for a particular policy could range from a few hundreds to a couple of thousand dollars.

If you already have a policy, you can also reduce your current rates by getting and comparing life insurance quotes from insurers you did not get quotes from before you bought your present policy.

Posted in general | Tagged , , | Comments Off on Life Insurance – Should You Buy A Rider Or Complete Policy For A Spouse, Child Or Dependent?

Factors That Affect the Price of an Airline Ticket

The wide range of prices encountered when shopping for an airline ticket, make this a daunting task. What factors affect the price?

  • Fuel cost has one of the greatest effects on tickets. As the price of crude rises, so do the airline's costs. Airlines that negotiate fuel acquisitions well into the future can avoid sudden spikes, and pass on savings to the customer.
  • A weak economy causes people to cut back on non-essential travel. This encourages airlines to give discounts to lure fliers back. Conversely, when business is good, and planes are filled to capacity, there is little incentive to offer low price airline tickets.
  • Airport fees are another part of ticket prices. Airlines using smaller airports save on fees.
  • Destination is a factor. Competition will greatly affect price. An airline that enjoys a virtual monopoly for a particular route can charge pretty much what they want. Those flying international routes have stiff competition from other countries, and have to keep prices in line with what they are offering.
  • Budget airlines can sometimes provide the cheapest airline tickets through a "no-frills" approach. This is most effective on short-haul domestic flights.
  • Timing plays a role. If departure time is nearby, and a flight still has a lot of empty seats, the airline may offer them at a substantial reduction. If flying on a particular day is not critical, it may worth holding out until the last minute.
  • Where the ticket is purchased can affect its cost. Travel agents get bargains from the carriers, but charge for their services. The internet produces some bargains, but be careful who you are dealing with. Occidentally the airlines' own websites have unadvertised discounts.
  • Plain, old-fashioned greed. Air travel is a market driven economy, and airlines will charge as much as they can get away with. Do not believe anyone. Do your own research.

When shopping for cheap flights, be aware of what you are actually comparing. One airline advertisements a flight to an Asian destination, as $ 800, while another gives a price of $ 1300. Reading the fine print shows that the "cheap fare" has another $ 700 in hidden fees and surcharges, meaning it is actually $ 200 more than the all-inclusive fare.

There are many factors that affect the cost of an airline ticket. How well the carrier manages these costs will determine their bottom line. Competition is the key, airlines that most want your business will offer the best deals. Careful shopping will help find the cheapest flights.

Posted in general | Tagged , , | Comments Off on Factors That Affect the Price of an Airline Ticket

Mandatory Provident Fund

Ideally, retirement means a person retire from their regular career; Enter a new life span to review what they have contributed to their profession through their early and middle adulthood. When a person entering retirement, they must enjoy the rest of their life, the fruitful harvest gain from their previous efforts and pursuing a new goal with their spare leisure time.

The beautiful picture of retirement can only be achieved if you are being protected with a good retirement protection, such as provident funds or personal savings. Without these schemes, I am afraid the retirement will only be a start of a nightmare. In fact, before the implementation of the Mandatory Provident Fund scheme, only about one-third of the work of 3.4 million people have some form of retirement protection.

Contribution from the advancement of education level, numerous breakthrough in the medical treatment, modern technology to combat the natural disasters and so on, Hong Kong's population is living much larger than before, but also getting older in a fast tempo. Nowadays, already ten percent of our population is aged 65 and above. By 2016 the proportion will be 13 percent and one senior citizen in every 5 people by 2035.

Without some way is found of funding the welfare and health needs of the growing population of elderly, a massive burden will fall on the shoulders of the taxable working population. Their wages will be heavily taxed to meet the claims. Without sufficient financial resources, the scarce resources will jeopardize the well medical services and welfare we are enjoying now, something must be done to cope with the predicted situation.

The Pathway to Retirement Protection — Mandatory Provident Fund

The World Bank has outlined a framework of the protection for the elderly, so called 'three pillars of old age protection'. This recommended that old-age programs should protect the old and also promote economic growth. The three pillows recommended by the World Bank are
Mandatory, privately managed, fully funded contribution scheme.
Publicly managed, tax-funded social safety net for the old.

Voluntary personal savings and insurance.

The SAR government is operating a Comprehensive Social Security Assistance Scheme, which provides basic social security to the needy, and after much debt it was decided in 1995 that the Mandatory Provident Fund (MPF) Scheme should be introduced, there was a reasonable argument as to the Best system for Hong Kong. With the introduction of MPF, complemented by personal savings, Hong Kong will have in place all the three pillows for old age protection.

Mandatory Provident Fund Scheme Order requires all employees (irrespective of their status as a temporary staff or part time worker) and self-employed persons to join a MPF scheme under which contributions will be saved for retirement. The ideology is to ensure people are adequately provided for upon reaching retirement age.

Employer and employee each pay 5 percent of an employee's monthly salary into a privately run pension plan. The MPF law gives an employee a range of investment choices under an employer's MPF scheme. Generally speaking, without other circumstances, the member can only collect the lump sum of the MPF benefits when they attain the retirement age of 65.

Problematic MPF?

Mandatory Provident Fund scheme which begins in December 2000, this scheme represents a starting point for coercing individuals to plan for their retirement. Beside helping to provide for the retirement needs of millions of people, the MPF is likely to radically reshape savings habits and investment attributions and it will extend the pension umbrella to the remaining two million employed by about 250,000 small and medium sized companies.

Different retirement protection systems have their advantages and disadvantages. After careful consideration, it is generally accepted that MPF best suits Hong Kong 'needs, but as we know, no system is prefect, MPF is no exception, this controversial policy has drawn many criticisms.

Libertarians claim the system run contrary to the Hong Kong spirit, as individuals and firms are coerced into savings decisions that are better placed to make alone.

Other claim Many workers with high mobility are able to avoid taxation by constantly changing employment and a lack of information about them would make it difficult to capture them in the MPF network.

Many more violations and oppositions have also targeted the MPF, in the following paragraphs; I will divide it into different aspects and analyze these practices and oppositions, so that we can get more detailed picture about this far-reaching policy.

Protection for all?

MPF is adding a pillar for our retirement protection; If it is true, it will consolidate the foundation of an enjoyable retiring life and the retired people are no longer worried living under poverty. In fact, will it really protect all future retired people in Hong Kong? It seems to be the most challenging questions and controversial part of the MPF policy. Will the scheme really protect the elderly, unemployed, housewives and so on? I will divide the question into four parts — high income group, low income group, no income group and young, middle and old aged worker to look for the answer for the above questions.

High income people

Before we consider who will benefit the most from the scheme, we should know what you get out of the scheme depends on what you put in. As a result, low-income workers will enjoy less protection than the higher paid worker.

Many high-income people are working large companies and occupying the middle, high or senior position. Since they are specialized in their relevant profession and they possess some kind of expertise knowledge in their working field, their bargaining power in the labor market are relatively higher, so their companies and organization will provide them many welfare and special allowances in order to lure them Staying in the company. Nearly all of them will enjoy a pleasant retirement even without the implementation of the MPF, since many of them have significant amounts of personal saving, high value property or investment and existing pension fund.

Now the MPF has been implemented, both employers and employees will have to pay a minimum contribution of 5% of relevant income, this group of people seems to be much protected and secured from the policy.

Low-income people

As the points illustrated above, low income workers will enjoy less protection than the higher paid because what you get out of the MPF scheme depends on what you put in.

The greatest untruth of the MPF is that a gross 10 percent deduction from salaries, capped at a maximum income of $ 20,000 a month that can make a meaningful dent in funding old age. This mandatory contribution level of the scheme is a good basis to start with, but it is not enough. People will need to pay more to get a better life in retirement. A simple example will illustrate more about the concept, for example, a young man who starts to pay into an MPF ​​plan at 20 years old with an average income of HK $ 15000 per month. Assuming the investment grows with 5 percent inflation, after 45 years of contributions, he would receive just HK $ 771429, that would leave him just HK $ 4300 per month for the 15 years after retirement, if we assuming he die at age 80 (the average life Expectation in Hong Kong).

We should remember most low-income workers are approaching only around $ 10000 or below per month. After many years of contributions, they would receive just around $ 2000-3000 a month. Also due to their income would berely cover their monthly expenses, they are without personal savings, their retirement may not be funded in a pleasant way, the effectiveness of the MPF scheme may not create a beautiful picture for this group of people.

The MPF scheme not only can not provide an effective retirement protection for them, but also create some difficulties and hardships for them. Some unscrupulous employers are avoiding pay extra for the Mandatory Provident Fund scheme by slashing wages and making their staff become self-employed. Many of these problems came from the catering and construction industries.

Since Hong Kong are still recovering from the 1997 Asia financial turmoil, the most hard hit industries (transports, catering, restaurants, construction, manufacturing) are still struggling, most low income workers are working in these sectors (an estimated 500,000 people are working in The construction and catering industries, which account for about 17 percent of the total work in the SAR). Some employers were 'playing tricks' to avoid their financial responsibility because the MPF is an additional cost for these employers. They only cut staff salaries to save costs rather than taking risks to break the law.

Some restaurant owners treated part of their staff wages as special allowances instead of basic salaries in an attempt to lower the employers' contribution. Others effectively cut salaries by imposing an unpaid holiday arrangement on staff. Some construction firms had modified staff into self-employed contractors to avoid liability. The affected construction workers would have no longer enjoy the benefits of MPF or other staff welfare scheme.

Transport employees are also affected by the scheme. A survey conducted by the Container Transportation Employees General Union members found 86 percent had experienced some reduction in pay and benefits by employers using the MPF as the reason. The cutbacks include reducing pay and benefits such as bonuses, travel allowances and telephone payments, signing new contracts that waive past years of services without compensations. They were forced to register as a business so they have self employed status. Since it is very difficult to find a job in the current climate, so they have to accept the new arrangement reluctantly in order to survive.

All those unscrupulous employers are not only exploiting these low-income workers that are also under the effects of the SAR government to build a fund fund system for Hong Kong.

We can see clearly the long-term benefits are far from the low-income workers, but the immediate negative consequences that they should face now, so there is no doubt why the most opposite voice is coming from this sector.

Protection for Young, Middle and Old aged People

The benefits from MPF not only depend on the salary input, but also depends on the choice of funds. The choice of fund may be greatly influenced by the age of employee and what you can collect after retirement. For example, a young worker can afford to invest more in high risk, higher reward funds because if markets tank, they have a long time to recover. By contrast, an employee close to retirement can not afford to risk short-term volatility taking a chunk out of his capital. Young workers seem to be the most benefit from the MPF scheme, compare with the middle or near retiring aged people. The majority of low income earners in their 40s and 50s have no chance of achieving what pension planners call a minimum replacement rate sufficient to fund a pleasant retirement, for example, a man who works for the next 25 years on the median wage of $ 10000 a Month may get only $ 1700 a month upon retirement, based on commonly quoted return rate of two percent, less than social security assistance for a single person.

Finally, as workers can not take any money back before reaching 65, and there are investment risks involved. The private sector rather than the government will manage the funds. The MPF in no way safeguards every citizen's right to the security of basic provisions in life.

No income group

Many people have criticized the MPF scheme which starts in December 2000, neglects the elderly, unemployed and women particularly housewives, since the MPF requires 'employer' and 'employee' to contribute to the scheme, so the well being of the no income people will not Be guaranteed.

MPF scheme as a compromise package that does not serve the well-being of the most vulnerable. There are now 600,000 people over 65 and in 1996, one quarter of people over 60 were living below the poverty line, with a monthly income of under $ 2500.

Women will also remain stuck in a dependent role under the MPF scheme, less than half of the labor forces coerced by the scheme are women because many are either workers workers or housewives. When they get old, they can only expect to relish on their husband, if they have one or obtain comprehensive social security assistance.

At present, Hong Kong is operating a Comprehensive Social Security Assistance Scheme, which offers basic social security to the needy. With the introduction of MPF, complemented by personal savings and CSSA, Hong Kong will indeed have in place all the three pillars for old age protection. In fact, it is far from saying that the scheme provides an effective retirement protection for all and easily believes the problem of elderly poverty will be eradicated.
Burden for investors in Hong Kong?

Hong Kong acts as a financial center in the world and playing a significant role in the Asia. The implementation of MPF will certainly affect the investors, no matter the multi-national investors, big business entrepreneur, small and medium sized enterprises.

Investors of big business

Big companies in order to recruit the talents from the labor markets, many of them have been offering various welfares for their employees, these including a well-sound pension system. Before the implementation of the MPF systems, many big companies have start selecting their company's MPF provider. For example, Swire Pacific said the process of selecting the company's provider began two years old. As one of the Hong Kong's largest companies, Swire are operating companies, such as Cathay Pacific Airways, hotel, trading, marine and properly-development and employing 25000 employees, for this kind of big companies, it is important to have a provider with a Sound administration system to deliver pension services to all their employees, since employees are the largest assets for these big business operators.

Large companies appeared to be concerned about their employees' statements when choosing a provider, it can reflect large companies seem to support MPF scheme and it come along with their existing pension policy, it seems not to create financial burdens for this kind of companies compare with Small and medium sized companies.

Investors of small and medium sized enterprises (SMEs)

Coming at a time when small and medium firms are struggling back into the black after the financial crisis, it is not surprising that the MPF is off to a shaky start. There is no doubt that the MPF presents an extra financial burden for companies that work on narrow profit margins when these kinds of companies were badly hit by the Asia financial turmoil. Small and medium sized businesses (SMEs) have protested vociferously over the MPF's introduction, insisting they can not afford it with the economy still recovering from recession.

Although MPF will extend the pension umbrella to the two million, employed by about 250,000 small and medium sized companies, the financial burden seems to be unbearable for the investors.

For small business investors, they are reluctance to join the scheme is not just about the financial burden. They also resented the time consumed by MPF decision-making and paper work because many of them were far too busy with the day-to-day business of running the firm to take on extra paper work.

How MPF scheme affects the Hong Kong 'economy?

MPF not only will have far reaching effects on the fund-management industry, service providers, but also the general economy. Since MPF is an investment programs, it will increase the pool of institutional funds invested in the SAR, broadening and deepening the financial markets, promoting their efficiency and theby economic growth, it will bring positive charges for financial market.

On the other hand, some people criticize the MPF scheme will eventually upset the flexibility of Hong Kong because workers can not take any money back before reaching 65 and there are investment risks involved. This compulsory saving scheme, unable an employee who leaves a company can get cash in a lump sum or use it to buy property or whatever and invest in other areas.

Conclusion

Although it is far from saying that MPF provides an effective retirement protection for all and older poverty will be eradicated, it really encourages people to save for their old age. No schemes are perfect, the MPF is no exception, but it is the scheme most suitable for Hong Kong 'needs. Since Hong Kong has a well-established and sound financial services sector. A privately managed retirement system under prudential regulation and oversight is the most effective and secure way offer retirement protection to the work. Also under a free competition environment, it tends to increase efficiency and reduce costs of operating the MPF scheme, which will benefit scheme members extremely.

Nowadays, a large part of the social welfare expenses are spending on the Comprehensive Social Security Assistance (CSSA), in the long run, MPF scheme may reduce the financial burden of CSSA, spare welfare expenses can be spent on other social welfare areas, every Citizens will benefit at large.

The scheme may be viewed with some skepticism at the moment, but after people have a chance to see the plan in action, attitudes towards long term saving and retirement should change. Then retirement could be something to look forward to with pleasure, rather than worry. But one thing should be bear in mind, our government should also take care of the most vulnerable people in our society as the paragraphs mentioned above, provide them with appropriate assistance, especially the low income people. Only with that, Hong Kong will be a better, fairer society for everyone to live in.

Posted in general | Tagged , , | Comments Off on Mandatory Provident Fund

The Fireman’s Rule – Law Prevents Firefighter From Suing For Injuries Received While Fighting Fire!

When I first heard the term, "The Fireman's Rule," I thought that I had obviously stumbled upon a rule of law that would be of benefit to firefighters through the country. What I learned after a couple of hours of research was that this rule of law was of no benefit to firefighters, but instead served to benefit the property owner / occupant who Negligent acts or omissions may have been the primary cause of injuries to a firefighter while Fighting a fire. In fact, the Fireman's Rule operates to bar a fireman from suing a property owner / occupant when the acts or omissions of the property owner / occupant caused or contributed to injuries the firefighter received while fighting a fire on the concessions of the owner / occupant.

The fireman's rule is a common law, and in some states statutory, based on a judiciously recognized public policy that encourages people to freely call the fire department for help without concern if they will be held liable to the firemen for injuries that are beyond their ability To control. In other words, the courts believe that a person should be able to call for help when their kitchen is on fire without worrying if a fireman will sue them if he is bitten by the family dog. The courts have held that these risks go along with the job.

In order to understand what the fireman's rule is and is not and how it operates, it is necessary to take a brief look at what the courts have been saying when deciding such cases. In one case, Whittenv v. Miami-Dade Water & Sewer Authority (Fla. 1978), the Florida Supreme Court explained the duty owed to a firefighter by the owner / occupant of the concessions which is the subject of the emergency. The Court ruled that a fireman has the legal status of a licensee, and as a licensee the only duty owed to a fireman was a duty not engaged in conduct that is considered to be either wanton (deliberate, without regard) or willful and / or To warn the fireman of any dangerous defect that is not open to the regular observation by a fireman.

As a basis for the fireman's rule, the Florida Supreme Court explained in Kilpatrick v. Sklar (Fla. 1989) that the fireman's rule is based on public policy. It purpose is to permit individuals who require fire department assistance to call for help without stopping to consider whether or not they will be held liable for any injuries to a firefighter which, in most cases, are beyond their control. In the Kilpatrick case the Court observed that firemen (and policemen) usually enter buildings and structures at unforeseeable times and under extreme emergency circumstances where most people do not have the time nor opportunity to prepare the concessions for their visit. And there should not be held responsible for any injuries that occur to the firefighters as a result.

Lastly, in Lanza v. Polanin 581 So.2d 130 (Fla. 1991) (cites other cases used in article) the Court noted that a firefighter who enters a house or dwelling does so without any guarantee that he will not find a bulldog waiting to bite him. These are dangers inherent in the job and caution should be exercised by the fireman since he is a trained professional. Again the Court emphasized that the policy behind the fireman's rule is to encourage people to call the fire department when needed by limiting the circumstances under which a person may be liable to the firefighter for injuries he may receive responding to and while fighting the fire, or Otherwise handling the emergency.

To summarize, the fireman's rule is a rule of law based on public policy which protects the owner / occupier of property from lawsuits by Firefighters for injuries which receive while on the promotions fighting a fire or handling an emergency. In other words, if you the firefighter are injured while fighting a fire, and you can prove that those injuries were caused by the negligent acts or omissions of the property owner / occupant, you will most likely be barred from recovery unless you can show that Such conduct that led to the injuries was willful or wanton or that the owner / occupant failed to warn of a danger known to exist. All of which is near impossible considering the unlimited variables present in a fire or other emergency. The fireman's rule is no friend of the fireman.

Michael Hendrich, JD FirehouseToday.com

Posted in general | Tagged , , | Comments Off on The Fireman’s Rule – Law Prevents Firefighter From Suing For Injuries Received While Fighting Fire!

Monopoly Game Rules

One game has always been a favorite with all people associated to all age groups and that is Monopoly. The game has its fans across borders and all around the world. Still, a lot of people are unaware of all the rules of this game. It is imperative to know and understand Monopoly Game Rules in order to be a champion while playing this game. Let us have a closer look at the Monopoly Game Rules:

  1. Build Hotels: Many people think that they only need to have four houses on every property in group color before they can actually start buying hotels. Well, it is not correct. Apart from this condition, optimum number of houses should be available in the bank as well. In absence of enough homes, one can not buy hotels.
  2. Going to Jail: If as a player one goes in the jail then even though he scores doubles, his turn will come to an end. Such a player will not get an opportunity to roll again.
  3. Income Tax: As a player, if a person ends up on income tax block after passing GO, his money worth $ 200 is included in his total worth. In this case a player gets to decide whether he wants to pay 10% of his total worth of $ 200.
  4. Fine amount in case of Utilities: A player is not required to roll again to determine the amount of fine on utilities. The numbers which come from the dice in first roll are considered for the fine amount.
  5. Together try to win: Mergers are not considered as part of the official Monopoly Game Rules, however, there are many players who add it in their personal rule book. In this situation, two players can decide to play together as partners. In such a situation, the assets of both the players can not be combined. Instead of this, one of the two players has to quit the game and then the second one continues playing.
  6. Quitting the Monopoly Game: At any point of time, if a player wants to quit the game then his assets are returned to the bank. The player can not gift his assets to any other player. Yes of course, a player can decide to sell off his property to some other player even gifting is not possible.
  7. No immunity against rent: At no point in the game a player can offer immunity to another player against rent.

Players often forget these simple rules and end up losing the game. There are many people who have twisted the rules of this game as per their convenience though the fun of playing Monopoly is more when played with the original rules of the game. Monopoly Game Rules were designed keeping in mind all the possibilities in this game and here one should follow them to play the game in the best and accurate manner. If one plays the game with all the rules then the chances of disagreements on various things can be avoided and game can be enjoyed thoroughly.

Posted in general | Tagged , , | Comments Off on Monopoly Game Rules

Eviction Notice – Difference Between Personal Service and Tack and Mail When Evicting a Tenant

As a landlord, sooner or later you will have to evict a tenant for either not paying rent or for violating one or more terms of the lease. When a tenant violates their lease the landlord must immediately start the eviction process. The eviction process is handled by the county where the property is located. Even though you file eviction papers in the county where the property is located, it is state law, not county law, which controls the eviction process.

The eviction process starts with the landlord filing the paperwork for the eviction at the courthouse in the county where the property is located. Once the paperwork for the eviction has been filed, the paperwork will be handed over to either the Sheriff or Marshall’s office. Some counties use the Sheriff to serve notice of the eviction filing while others use the Marshall’s office. Regardless of the office, they will serve your tenant with notice of the eviction. This service will be either Personal Service or Tack and Mail. I will discuss the difference between the two.

Tack and Mail

When the Sheriff arrives at the property, they will try to get someone to answer the door. If nobody is home they will leave a copy of the eviction notice at the door. This is where the “tack” portion of tack and mail service originated. The Sheriff will actually tack a copy of the notice at the front door for the tenant to find when they return home. The Sheriff will also “mail” a copy of the eviction notice to the tenant. The Sheriff will mail the notice regular mail. It will not be mailed certified mail. The date the Sheriff tacks a copy to the door is the day that is recorded at the courthouse for the date of service.

Personal Service

When the Sheriff arrives at your property, they may find the tenant is home. If the Sheriff actually gives the notice to the tenant this is called Personal Service. As a landlord you would much rather the tenant be served with personal service.

The difference between the two types of service is that Personal Service has more advantages in the eviction process. If you tenant is served personal service and then does not show up for the court date, you can get a judgment against the tenant. If the tenant does not answer the eviction process after being served personally, you can get a judgment against the tenant. In both of these situations if the tenant was served tack and mail then you would have to sue the tenant in small claims court to get a judgment against them.

Posted in general | Tagged , , | Comments Off on Eviction Notice – Difference Between Personal Service and Tack and Mail When Evicting a Tenant

Your House Number Numerology Profoundly Influences All Aspects of Your Life

Are you planning to move house soon? Or relocating to a new city? Or hunting for an investment property? Are you undecided about which house to choose? Then let numerology be your guide. Your house, apartment or unit number interacts with the frequency of your own personal numerology to determine whether you live in harmony or discord. Your lifestyle and personality traits are affected by the vibrations set up by particular house numbers.

Love, relationships, health, money, happiness and general abundance aspects of your life are all impacted by your house number. The experiences you will have in your home can be predicted by your house number – the good, the bad and everything in between. While no one house number is best or worse, there are numbers you should try to avoid in a home address. House numbers can be interpreted and tell of opportunities and challenges as they relate to your personal life, be they in your personality or life path.

The numerological transformation of house numbers is straight forward. Indeed there are many online calculators and resources giving general numerological meanings of the nine base house numbers. However, the real skill lays in the psychic reading and interpretation of your house’s number. To transform your house or apartment number, take the individual digits and add them. Then keep repeating this process until you arrive at a single digit. This is then your house’s special number. For example, say your home number is 672. First add 6+7+2 to get 15. Then add 1+5 to get your base number of SIX. Often units and apartments have more than one number (for example Unit 272, Number 87 Happy Road). The more unique number is the most important, in our example, the unit number ‘272’ – but your numerologist will be interested in both.

Business and work place addresses work the same way as house and apartment numbers. Ask your numerologist to figure out your house number and also to look at your work place number for its meaning to build a more complete picture of your numerology.

Even though the mechanics of determining a dwelling’s base number are reasonably easy, it takes a gifted and well practiced numerologist to interpret this number and determine the interactions with your personal life stage numerology.

What happens if my numerologist doesn’t like my house number? Do I have to move? Well not necessarily, as with anything there are degrees of harmony between you and your house or apartment number. It is more a case of being aware of dissonance and compatibilities between your house and you. Your numerologist may recommend adding a complimentary number to the inside of your front door or letter box to modify the house’s base number and restore harmony.

Eventually, you will move into another phase of your life when the incompatibility will go away anyway. For example, if you are young, single and carefree you may be best suited to a house with a base number of THREE. Later, when you have settled and growing a young family you may be more interested in security which can be found in houses with a base number of FOUR.

Better still, if possible get you numerologist to examine your potential house street number before you buy or lease the house in the first place. If all else fails you can of course move house to find a more compatible house number, but this should be last resort. Bear in mind that some house numbers are harder to sell than others. Selling a FOUR house can sometimes be problematic. The natural extension of this last point is that house number numerology has a big impact on property investment. Also, if the house or unit is an investment property, you need to consider the impact of the numerology of the house number on the potential tenants. Are they going to be compatible with the dwelling and live there happily?

I hope you can see now that the number of where you live interacts with your own personal numerology to impact on the all aspects of you life. If you are looking for a new house to buy or apartment to rent then consider the numerological implications of the house, apartment or unit number. And don’t forget that even if you’re house numerology in not favorable – all is not lost. There are things an expert numerologist can recommend to neutralize and overcome the negative connotations of your house’s street number to reinstate harmony in the dwelling. While it is a simple arithmetic task to calculate your house’s base number, it takes a gifted and professional numerologist to decipher the interactions between your own personal numerology and that of your place of abode.

Posted in general | Tagged , , | Comments Off on Your House Number Numerology Profoundly Influences All Aspects of Your Life