A client established several years ago a bank account to save for his children's education. The bank opened the account as a Totten Trust. The client said he knew his kids' account was protected from judgment creditors because I had stated, somewhere on my website, that bank accounts established for children is exempt. I responded that regardless of what he read the proper way to protect children's money from your creditors is by setting up a bank account under the Uniform Gift to Minors Act (UTMA) rather than a Totten Trust

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How To Protect Gift Of Money To Child: Totten Trust Or Uniform Gift To Minors Account

You don’t want your kids after school or weekend job to put them in any kind of danger, and this is why labor laws restrict the jobs they can do. There are also restrictions on how many hours they can work for.

The laws vary from state to state, so check out the guidelines for where you live by checking your state’s website, or contacting the guidance counselor at your kids’ school.

The general rule is that those in their early to mid teens can work 3 hours a day at the most, which equates to 18 hours a week. They must work no later than 7 pm on school nights and 9 pm during holidays. At weekends and in breaks they can increase their working hours to 8 per day.

You will also need to check out if your state is one of the ones that requires the student to full out a document of employment before they can get a job, the school generally supplies the necessary paperwork. In some states, the employer must also submit detailing exactly what the student will be doing.

A strong work ethic is vital to get you through life as an adult, and this is the first step on that path. Find a job that you will both enjoy and be able to perform at high level.

Before you start looking, make sure you know exactly what the job restrictions are for your state. You will also have to discount any age restrictive jobs such as driving.

A job won’t just fall in your lap; you will have to look for it. Help an be found from both your parents and your school counselor doesn’t have ‘guidance’ in their title for nothing. You can also pop into various shops and businesses and ask if they’re taking on.

So now you know how to find a suitable job, it’s up to you to get out there and find one, good luck!

Read more of this author’s tips on subjects such as brushed nickel arc floor lamps and the clamp on desk lamps.

I was talking to a client she expressed her concerns about her kids finding out how bad the household finances are. It's not the first time I've heard clients express those concerns to me.

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Talking to your Kids

I use the “F” word. Now, I want to point out that by using the “F” word, I’m not saying that you – as a parent deep in debt – are a failure.

Excerpt from:
Talking to the Kids: Dealing with Failure