Divorce involves complicated financial matters. Topping that list is jointly owned real estate. If you get the house, what happens next? Are you buying out your partner? What happens to shared earned equity? How will you manage mortgage payments? Can you apply divorce settlements to the loan?
Credit ratings are an important measure of a person’s financial wellness. Think of them as a report card for your finances. Lenders review credit ratings to determine the risk associated with the requested loan. The higher your credit score is, the more likely it is you will repay your loan. As a result, individuals with…
Planning for retirement often focuses on things that happen before you retire. That’s perfectly fine if you still have several years to go. But as many people near retirement, focus shifts from accumulation to distribution, and practical questions, such as, how will my retirement money get to me? In what amounts? In what accounts? On…
As people and businesses start to emerge from the shadow of COVID-19 and its related economic fallout, we are constantly finding ways in which the business landscape has shifted. The coming year will continue to highlight the temporary and permanent changes to business as a result of the pandemic.
Fraudsters have become increasingly adept at getting cardholders to share information by posing as financial institution call center representatives, or sending text messages that look like they are coming from your institution, warning of suspicious activities. They are also phoning call centers posing as cardholders requesting changes to card information and account parameters. The fraudsters…
Financial elder abuse is when a relative, caregiver, stranger, or “friend” exploits an older person to deplete savings and assets that have taken years to accumulate. This type of abuse can severely affect an elder’s lifestyle. Elder abuse is accomplished by taking or misusing the property or resources of a vulnerable adult by means of undue…
This content available on this site is provided for informational purposes only, is not intended as investment advice or solicitation. Alerus Financial, N.A. (Alerus) makes no representations or warranties as to the accuracy, completeness or timeliness of the information. Statements of fact are considered reliable but no representation or warranty is made as to their completeness or accuracy. The information is not intended to provide legal or tax advice. Alerus does not provide legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.