HC Murray Corp. Newsletter
July 2010
Insurance & Financial Services
 6133 Rockside Road, #405, Independence, OH 44131
Phone:  216-525-7280 Fax:  216-525-7286
www.hoytmurray.com  info@hoytmurray.com
 

Frustrated with low rates on you CD?  Want to avoid paying taxes? See Below. 

 
Statistics About the US Ecomony
Tax Matters
The Estate Probate Process
Dear Sandy,  

We are pleased to present you with our July 2010 newsletter.  We hope that you find the articles informative and enjoyable.  Please feel free to contact us with your questions and comments.
 News
Revealing Statistics About the US Economy
 
1.  In 2010 the U.S. government is projected to issue almost as much new debt as the rest of the governments of the world combined. 
 
2.  It is being projected that the U.S. government will have a budget deficit of approximately 1.6 trillion dollars in 2010.
 
3.  If you went out and spent one dollar every single second, it would take you more than 31,000 years to spend a trillion dollars.
 
4.  Total U.S. government debt is now up to 90% of the gross domestic product.
 
5.  Total credit market debt in the U.S., including government, corporate and personal debt, has reached 360% of GDP.
 
 
 
About Us

H.C. Murray Corp. was established in 1980 as an independent insurance agency.

Since H.C. Murray Corp. is an independent firm, we offer several types of coverage for your needs.
 
 
 
 
Tax Updates
Tax Matters
 
1.  For a long time, owners of S corporations have avoided payroll taxes by taking little or no salary and getting the rest of the profits as dividend distributions.  Expect Congress to close this loophole by taxing all profits of small personal service S firms beginning in 2011. 
 
2.  The U.S. Senate has joined the House of Representatives in okaying legislation to extend the closing-date deadline for the home buyer tax credits to September 30, 2010.  The new law means thousands of home buyers who were in jeopardy of losing the valuable tax credits if they had not closed the deal by midnight June 30 have been granted a reprieve.  To qualify for the new home buyer tax credit--worth up to $8,000 for first-time buyers and up to $6,500 for long time residents of their previous homes--buyers had to sign a binding contract by April 30. 
 

Products & Services

Life Insurance & Annuities
Property & Casualty Insurance
Health Insurance
Long-Term Care Insurance
Corporate Benefits Planning
Business Succession Planning
Estate Planning
Quick Links  
HC Murray Corp. Subidiaries
Education
The Estate Probate Process
What Is Probate?
 
Probate is simply the Latin word for prove, which means that the estate probate process is the process by which your will is brought before a court to prove that it is a valid will.  The courts charged with this responsibility are generally known as probate courts which, depending on where you live, may actually supervise the administration or settlement of your estate.
 
The probate process is governed by state statutes that are intended to accomplish three primary objectives:
 
1.  To preserve estate assets.
2.  To protect the rights of creditors in the payment of their claims before the estate is distributed to the heirs.
3.  To assure that the heirs receive their inheritance in accordance with the terms of the estate owner's will.
Contact Us
 
HC Murray Corp.
6133 Rockside Rd
Independence, Ohio 44131
216-525-7280
216-525-7286
 
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CD Rates in Cleveland, OH from bankrate.com week of June 29, 2010

Product                       Institution                          Rate                Min Deposit
1 Yr CD                        Ohio Savings Bank            1.35%             $1,000
1 Yr CD                        Third Federal S&LA          1.05%             $500
1 Yr CD                        Charter One Bank             0.60%             $1,000

 

Thank you for allowing us to service your insurance and financial services needs! 

The highest compliment our clients can give us is to recommend us to a friend.  We appreciate your referrals!
 
Please feel free to forward this newsletter to a friend or: 
 
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HC Murray Corp. | 6133 Rockside Rd | Suite 405 | Independence | OH | 44131