Murphy’s LAW
An informal column about issues affecting the West Point Community

Commentary by Capt. Patrick Murphy
SJA's Office
 

Capt. Patrick Murphy

"Anyone may so arrange his affairs that his taxes
shall be as low as possible; he is not bound to
choose the pattern which best pay the Treasury:
there is not even a patriotic duty to increase one’s taxes."

Judge Learned Hand

Obviously Santa did not deliver one of my wishes: Jim Fox making accurate sports predictions. Minnesota over the Giants!!! Come on Jim, you should know that Big Blue would come through against the Purple People Playoff Chokers. How can you expect the indoor-football-only Vikings to change and play in tough, cold, NFC East-style football? On the topic of change, let’s hope all our readers out there will make a few changes for the good this upcoming year.

.The IRS has sent out 40 million tax packages to American mailboxes and W-2 forms are in at West Point. Our own Tax Center is preparing to ‘officially’ open for business on Thursday, so what better time to start getting your finances in order? Do not wait until the last minute to make the filing deadline. Remember, like the early bird who gets the worm, people who file first, get their tax refunds quicker.

Even though Albert Einstein said, "The hardest thing in the world to understand is the income tax," the tax team at the West Point Tax Center can help. And, if you think the Ravens defense is tough, wait until you see how stingy our tax team is here at West Point. We don’t want Uncle Sam getting an undue share of your hard-earned money. Call 938-6040 to make an appointment.

Most soldiers assigned to West Point have household goods shipped at government expense. As in any houshold goods move, property can be lost or damaged.

If this happens during your move, the carrier will give you a Notice of Loss or Damage. While claimants often file those forms with the Claims Office within the required 70 days, they often wait until the two-year deadline is up to turn in supporting documentation and the actual claim for loss or damage.

The Claims Office cannot process a claim or make payments until we receive DD Form 1842 (Claim for Loss of or Damage to Personal Property Incident to Service) and DD Form 1844 (List of Property and Claims Analysis Chart). Do it today so we can ‘Show you the money!’

This is also a good time to account for all your property in preparation for your next move. Take a video or photo inventory of your home furnishings for claims and insurance purposes. Add a comment about its condition, include pictures of your electronic equipment working and remember to inventory the high value items you recently purchased.

Insurance, whether for auto, health, home or life is one part of an effective estate plan. Insurance provides a safety net (like Jason Sehorn does against opposing receivers) in case an unpleasant life event happens.

Although everyone needs some insurance (e.g., car insurance), not everyone needs life insurance. Some people use life insurance to provide some financial security for their beneficiaries while others might use it as an investment tool. Generally speaking, life insurance is seldom the best tool for building wealth. You should ask yourself these important questions before purchasing insurance:

— What type of insurance do I really need?

— What type(s) and how much coverage do I need?

— How can I find a good price?

— How can I find out if my insurance company is reliable?

See the box of Web site listings for places that could provide answers to some of these tough questions. These links do not provide a Murphy’s Law endorsement, but are listed for your convenience. Also, the legal assistance attorney here can provide top-notch advice on these matters to soldiers, retirees and their family members. Call 938-4541 to make an appointment.

West Point offers many unique ways to become involved in the community. Now is the time to become involved with our youth through school programs or sports (Go West Point Mites), or to take advantage of the cultural opportunities available.

As an example, the next Murphy’s Law will discuss American history, specifically National African-American History month. But you can act now by signing up for ITR’s Harlem Cultural Tour scheduled for Feb. 10.

Maj. Steve Redmon from the Law Department is coordinating this trip that includes visits to the African Burial Ground Project, a National Black Theater Performance and other worthwhile historical sites like the Apollo Theater. Where else in the Army can you drive to the Apollo Theater on a day trip?

While one can only hope that Jim Fox will start making accurate sports predictions, I will continue to come through for the West Point readers. First, I predict two big Army Hockey wins this weekend over Canisius and Sacred Heart with another goal from Philly’s own Kevin Emore on defense. Second, although this Super Bowl is a tough game to call, I’m going with the underdogs. The G-Men will show the Ravens just how tough their underrated defense is and the Vince Lombardi Trophy will remain with an NFC team in a squeaker.

By the way, before Lombardi went to Green Bay and became the NFL’s "greatest coach" (5 championships and 2 Super Bowl victories in 10 years), he was an assistant coach for the New York Giants from 1954 to 1959. And before he was the Giants coach he was coaching here at West Point (1949 to 1953). To quote the legend himself:

"The quality of a person’s life is in direct proportion to their commitment to excellence, regardless of their chosen field of endeavor."

Insurance information sites on the Web

General Insurance Advice:

www.insure.com, a consumer insurance guide site
www.naic.org, Nat. Assoc. of Insurance Commissioners.
www.insweb.com, an online insurance marketplace.
www.quicken.com/insurance, offers information about different types of insurance.
www.life-line.org, an educational site for consumers to learn about life, health, and disability insurance.

Insurance Company Rating Services

www.ambest.com offers online assessment of over 6,000 insurers’ financial strength.
www.standardandpoors.com/ratings/insurance/index, assesses over 4,000 insurers.
www.moodys.com, provides credit ratings on roughly 700 insurance companies.

Comparison Shopping

www.insure.com/quote.html, Insure.com’s "Get a Quote" service.
www.quotesmith.com, QuoteSmith.com’s Instant Quote Center.
www.insweb.com, another place to get insurance quotes on the web.
www.smartmoney.com/insurance, SmartMoney’s online Insurance Center.