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☆ TJ Maxx store workers are wearing body cameras to deter shoplifters
▼ + stars: | 2024-06-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

New York CNN —Hourly retail security workers are now wearing police-like body cameras at major stores. The manufacturer of Taser devices and other security companies are now designing and marketing body cameras specifically for retail workers. “Body cameras are just one of the many ways that we work to support a safe store environment,” the spokesperson said. Bakery chain Greggs gave employees body cameras after a rise in sausage roll thefts and threats from customers. Applebaum also expressed concerns about the information the body cameras are collecting and whether it could be used to stymie union organizing attempts.

Persons: TJ Maxx, John Klinger, “, they’re, ”, TJX isn’t, TJX, Joshua Isner, John Eck, shoplifters, They’re, Ernesto Lopez, Thaddeus Johnson, ” Stuart Applebaum, “ it’s, Applebaum, CNN’s Curt Devine Organizations: New, New York CNN, Marshalls, National Retail Federation, Tesco, CNN, University of Cincinnati, Criminal, Wholesale, Department Store Union Locations: New York, HomeGoods, Florida, Miami Beach

☆ Shoplifting's biggest enablers might be the retailers themselves
▼ + stars: | 2024-04-16 | by ( Alex Bitter | Dominick Reuter | ) www.businessinsider.com time to read: +7 min

But Walmart, Target, and other chains's own policies and practices could be worsening the problem. From conflicting policies to understaffing, retailers can make it hard for workers to prevent theft. That's because major retailers, including Walmart, Target, and others, have policies that sometimes prevent their own staff from addressing shoplifting at their stores, current and former employees told Business Insider. Among the report's recommendations for retailers: Hire enough employees at stores, and make sure they aren't constantly overworked. Do you work at Walmart, Target, or another major retailer and have a story idea to share?

Persons: —, Rhea Gordon, Gordon, Lululemon, Calvin McDonald, Santino Burrola, Thea Sebastian, Hanna Love, Sebastian, Love, everything's Organizations: Walmart, Target, Service, Business, BI, CNBC, company's, Futures Institute, Brookings Locations: North Carolina, Colorado, California, Montana

☆ 2 people were just arrested on suspicion of stealing a Stanley Starbucks cup from Target in January
▼ + stars: | 2024-03-29 | by ( Grace Dean | Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Two people were arrested this week on suspicion of stealing a Stanley cup from a Target in January. AdvertisementTwo people were arrested Tuesday and charged in connection with the theft in January of a Starbucks Stanley cup from a Target store in Cupertino, California. "The male suspect grabbed a box behind the counter that contained the limited-edition Stanley cup and attempted to leave the store." The woman also tried to take a Starbucks bag, believed to have contained another Stanley cup, from another customer, the sheriff's office said. Collectors are also hotly anticipating the impending launch of the "Spring Blue" quencher from Stanley and Starbucks, which will be sold at Target Starbucks locations.

Persons: Stanley, —, Quencher, Kevin Torres, Cruz, Hazel Dominguez, Vera Organizations: Starbucks, Sheriff's, Service, Target, Business Locations: Santa Clara, Cupertino , California, Starbucks cafés, Target, Stanley

☆ Refund fraud schemes promoted on TikTok, Telegram are costing Amazon and other retailers billions of dollars
▼ + stars: | 2024-03-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +14 min

The following month, 10 men were indicted in Oklahoma, charged with conspiracy to commit wire fraud for allegedly operating a refund fraud service named Artemis Refund Group. A thriving refund fraud marketFor every refund fraud service shut down by law enforcement, swarms of similar groups remain open for business. CNBC viewed several active refund fraud services on encrypted messaging app Telegram, each with thousands of followers. Zoom In Icon Arrows pointing outwards A Google form from an active refund fraud service explaining which stores it targets and how much it charges customers. Zoom In Icon Arrows pointing outwards A refund fraud service claims to have access to Amazon insiders in a Telegram post.

Persons: Stephanie Keith, Noah Page, Page, he'd, Ralph, —, Rick Owens, Sajed Al, Ralph Lauren, Uber, Maarej, Chris Black, Amazon, Al, they'd, Rekk, Cyril Noel, Tagoe, Noel, Louis Vuitton, scammers, Reddit, Brittany Allen, Allen, Remi Vaughn, Vaughn, she's, David Johnston, Johnston Organizations: Bloomberg, Getty, CNBC, National Retail Federation, Appriss, Amazon, Page, Riverside Press, Medianews, PayPal, Retailers, Artemis, Walmart, Apple, Nike, eBay, Saks Fifth, DoorDash, Google, MacBook, Mail, UPS, U.S . Postal Service, Al, Rekk, Gucci Locations: New York, Chattanooga , Tennessee, Reddit, TikTok, Eastvale, Michigan, Oklahoma, Chattanooga

☆ Seven Target workers fired after buying Stanley cups say they were caught off guard by the crackdown
▼ + stars: | 2024-01-25 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Carter is one of many workers across the US that Target has fired this month after they purchased special-edition Stanley Quencher mugs. But workers BI spoke to said that they were either unaware of the rule's existence or that they did not realize they violated the rule when they purchased one of the cups. AdvertisementIn two cases, workers told BI they bought a cup that was improperly set aside by a colleague. AdvertisementIn addition, each worker told BI they were one of several employees at their stores who had been fired over the cups. None of the seven employees BI spoke to said they expected this product could end up costing them their jobs.

Persons: —, Catherine Carter, she'd, Carter, Stanley Quencher, hadn't Organizations: Service, Business, Target, Starbucks, BI Locations: Miami , Florida, Maryland

☆ Why America is panicking about shoplifting
▼ + stars: | 2023-11-17 | by ( Ally Hill | Nathaniel Meyersohn | ) edition.cnn.com time to read: +12 min

New York CNN —“Shoplifting in Great Department Stores.” “The Shoplifting Profession.” “No Mercy to Shoplifters.”These headlines could be from articles today. While shoplifting has seemingly never been a bigger problem than it is now, shoplifting has long captured the public’s attention. Angela Weiss/AFP/Getty ImagesAlthough shoplifting increased in some cities during the first half of the year compared to pre-pandemic levels, there is no clear national rise in shoplifting, according to a new analysis by the Council on Criminal Justice, a nonpartisan criminal justice policy organization. Middle-class women shoplifting in Victorian Britain during the 1800s were the focus of an early panic over shoplifting. Fears spread over middle-class women shoplifting during the early years of department stores.

Persons: New York CNN —, ”, ” James Walsh, Alex Vitale, Donald Trump, Angela Weiss, ” Vitale, Michael Flamm, San Francisco —, Adam Gelb, Tammy Whitlock, kleptomania, “ Said, Abbie Hoffman’s, ” Flamm, Abbie Hoffman, John Shearer, Barry Goldwater, Richard Nixon, JC Penney, ” David Johnston, Jeffrey Greenberg, we’d, Jeffrey Butts, “ Organizations: New, New York CNN, Great Department, University of Ontario Institute, Technology’s, CNN, Brooklyn College, ”, Getty, Criminal, Ohio Wesleyan University, “, San, New York Times, University of Kentucky, Consumer Culture, Times, Ohio Wesleyan, National Retail Federation, Retailers, Universal, Commerce, Chamber of Commerce, Department of Justice, “ Research, Research, John Jay College of Criminal Locations: New York, Shoplifters, Britain, America, New York City, Los Angeles, Dallas, Victorian Britain, England, Ohio, Vietnam

☆ Retailers urge Congress to crack down on theft, as industry ramps up lobbying effort
▼ + stars: | 2023-10-26 | by ( Courtney Reagan | ) www.cnbc.com time to read: +5 min

"[Organized retail crime] has to be dealt with in a comprehensive way. The retail lobby group dubbed its event "Fight Retail Crime Day." Representatives from more than 30 retailers joined a major industry lobbying group on Capitol Hill on Thursday, as they ramped up pressure to pass a law that backers say will curb retail theft. Organized retail crime is different from shoplifting. The Combating Organized Retail Crime Act was reintroduced earlier this year.

Persons: Sen, Chuck Grassley, Matthew Shay, William Blair, Scott McBride, McBride, Dina Titus Organizations: Capitol, National Retail Federation, Retailers, Department of Homeland Security, American Eagle Outfitters, Walgreens Locations: Iowa, Washington

CNN —Target is closing nine stores in four metropolitan areas: the San Francisco Bay Area, Portland, Seattle, and New York. Here are four charts showing what retailers are facing in those areas where Target is closing stores. The six counties where Target is closing stores saw exoduses in high earners larger than the average for similar counties. Census data also shows that the six counties where Target is closing stores had a higher percentage of remote workers compared to their states as a whole. In the markets where Target is closing stores, the shortages persist.

Persons: it’s, David Johnston, Connor O’Brien, ”, O’Brien, ” O’Brien, Johnston Organizations: CNN, Coresight Research, National Retail Federation, Economic, Group, McKinsey, Department of Commerce, of, Labor Locations: San Francisco Bay Area, Portland, Seattle, New York, it’s, O’Brien

☆ Retailers appear to be facing a self-checkout reckoning
▼ + stars: | 2023-10-05 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Retailers hoped to save big on labor costs by introducing self-checkout lanes. Now retailers including Costco, Walmart, and Kroger are rethinking some self-checkout strategies. Costco, for example, has started asking staff to check membership cards in the self-checkout lanes, as well as assist with scanning items. This is not exactly the labor-minimizing tech retailers were promised. AdvertisementAdvertisementWalmart and Kroger use sophisticated video-monitoring and sensor tech to track merchandise through stores and self-checkout lanes.

Persons: —, Dominick Reuter, Kroger, Matt Kelley, Kelley, Christopher Andrews Organizations: Service, Costco, Walmart, Kroger, Depot, LiveView Technologies, Drew University, CNN Locations: Albuquerque , New Mexico

☆ Walmart is stripping some stores of self-checkout lanes and bringing back cashiers
▼ + stars: | 2023-09-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Walmart is pulling self-checkout lanes from at least three stores in Albuquerque, New Mexico. AdvertisementAdvertisementWalmart is pulling self-checkout lanes from at least three stores, requiring shoppers to have an employee ring up their orders. The three stores losing self-checkout are at 400 Eubank NE, 2701 Carlisle NE, and 2266 Wyoming NE, the Albuquerque Journal reported. Walmart shoppers can opt for full-service or they can scan and pay by themselves in the company's new front-end layout. When a separate Albuquerque Walmart closed in March, the company cited "underperformance," but several shoppers told Insider the location was routinely targeted by criminals.

Persons: —, Josh Havens, Matt Kelley, Kelly Organizations: Walmart, Service, Eubank, Albuquerque Journal, CTV, Albuquerque Walmart, Police, Costco, Tractor Supply, LiveView Technologies Locations: Albuquerque , New Mexico, Carlisle, Wyoming, Ottawa , Ontario, Albuquerque

☆ US retailers' financial losses jump as retail crime escalates - NRF
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

In 2022, inventory "shrink" as a percentage of total retail sales accounted for $112.1 billion in losses, up from $93.9 billion in 2021, according to the NRF report on Tuesday. Retailers are either being forced to close a specific store location, reduce operating hours or alter in-store product selection to deal with the spike in retail crime, the report added. Dollar Tree (DLTR.O) has said it plans to remove goods like men's underwear, an item most prone to retail theft, from its stores. Retailers are ramping up prevention methods with 34% of respondents increasing internal payroll to support risks related to retail crime and 46% increasing the use of third-party security personnel among other methods, according to NRF. The NRF survey was conducted online among senior loss prevention and security executives in the retail industry with insights from 177 retail brands.

Persons: Brendan McDermid, David Johnston, John Rainey, Ananya Mariam Rajesh, Savyata Mishra, Siddharth Cavale, Shounak Dasgupta Organizations: Black, REUTERS, National Retail Federation, U.S, Kroger, Asset Protection, Retail, Retailers, Walmart, Telsey, Thomson Locations: Brooklyn , New York, U.S, New York, San Francisco , Los Angeles, Houston, Britain, Bengaluru

☆ Retail theft isn't actually increasing much, major industry study finds
▼ + stars: | 2023-09-26 | by ( Courtney Reagan | ) www.cnbc.com time to read: +3 min

Total retail shrink grew to more than $112 billion in 2022, up from $93.9 billion the year before, according to the newest National Retail Security Survey. The metric, which accounts for various types of inventory loss including theft, damage and vendor error, generally rises as retail sales climb. External theft, which includes organized retail crime, was again reported as the largest source of shrink last year at 36.15%, but that was slightly below 37% in 2021. The NRF conducted the online survey of senior loss prevention and security executives in the retail industry. The results for 2022 include 177 retail brand respondents, which the organization said accounted for 22% of retail sales in 2022.

Persons: Duane Reade, Angela Weiss, Locker, David Johnston Organizations: Afp, Getty, Target, National Retail Federation, National Retail Security Survey, Retail Security Locations: New York City

☆ Lowe's CEO says the 'greatest deterrent' for retail theft is hiring and training workers
▼ + stars: | 2023-09-15 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Incidents of retail theft appear to be rising, but some companies are managing to avoid the trend. Although Lowe's has reported an increase in inventory shrink, it's not expected to hurt profits. CEO Marvin Ellison attributed low theft rates to investing in the company's workers. But unlike dozens of other retail executives, Lowe's CEO Marvin Ellison says the losses from retail theft this year are not expected to have a material impact on the company's profits. Lowe's CEO Marvin Ellison says the home improvement chain's low inventory shrink rate is "not by accident."

Persons: Lowe's, Marvin Ellison, Ellison, David Swanson, they've Organizations: Service, CNBC, Tractor Supply Locations: Wall, Silicon

☆ Retailers are shaping a wave of laws to crack down on organized theft — here's how they do it
▼ + stars: | 2023-08-11 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

Since 2022, at least nine states – six so far this year – have passed laws to impose harsher penalties for organized retail crime offenses. The new and proposed laws aim to deter brazen retail crime and go after the so-called kingpins who lead organized theft groups. But critics say the measures may not actually reduce organized retail crime, and could disproportionately harm marginalized groups. Plus, dozens of states already have organized theft laws on the books and the crime is still increasing, according to trade associations. Retailers and lawmakers say the misdemeanor charges have emboldened theft groups and allowed organized retail crime to spread.

Persons: Scott Olson, Doug McMillon, shoplifters aren't, Adrian Hemond, It's, they're, Chuck Grassley, Catherine Cortez Masto, CORCA, Cortez Masto, Cortez, Grassley, Sen, Anna Moneymaker, David Johnston, Jake Horowitz, Horowitz, criminologists, JC Hendrickson, Hendrickson, it's, cleaver, Manhattan, Manhattan DA Alvin Bragg, Barry Williams Organizations: CNBC, National Retail Federation, Walmart, U.S . Senate, Grassroots, eBay, Target, Coordination Center, Nevada Democrats, Cheyenne High School, Pew Charitable Trust, Justice Action Network, Walgreens, Manhattan DA, New York Daily, Getty Locations: Chicago , Illinois, U.S, Iowa, North Las Vegas , Nevada, Florida, Manhattan , New York, New

☆ Retailers say organized theft is biting into profits, but internal issues may really be to blame
▼ + stars: | 2023-08-10 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

In this article TGTFL Follow your favorite stocks CREATE FREE ACCOUNTThis is part two of a three-part series on organized retail crime. "If there's an occurrence of external theft they would steal let's say 10 bucks worth of merchandise, but if it's internal theft, it'd be 40 bucks." Internal theft also happens at warehouses and in aisles where online orders are prepared, one of the people said. However, he thinks internal theft is now "second place" to external theft. Shrink references reach a 'fever pitch'Retailers started to blame organized theft for lower profits as the industry's performance started to suffer.

Persons: Daniel Acker, they're, Neil Saunders, GlobalData, it's, Saunders, Patrick Tormey, it'd, Sonia Lapinsky, AlixPartners, David Johnston, Janine Stichter, Fonrouge, Foot Locker, You've, Mary Dillon, Locker, Michael Nagle Organizations: Target Corp, Bloomberg, Getty, CNBC, Lehman College School of Business, National Retail Federation, Retailers, Walgreens Locations: Chicago , Illinois, drugstores, America, GlobalData, New York, U.S

☆ How America's biggest retailers plan to use technology to catch organized retail theft
▼ + stars: | 2023-07-29 | by ( Bob Woods | ) www.cnbc.com time to read: +7 min

"We're seeing a lot of tech vendors layering AI onto existing technologies," said Christian Beckner, vice president of retail technology and cybersecurity for the National Federation of Retailers, a Washington, D.C.-based trade association. said Dr. Read Hayes, director of the Loss Prevention Research Council, a think tank comprising researchers, retailers, technology companies, manufacturers and law enforcement professionals. And many of the crimes that are being classified as organized retail theft are not taking place in stores, but at various points throughout the supply chain and distribution systems that require their own solutions. It's now harnessing AI to analyze metadata from video images captured by cameras installed outside and inside of retail environments. Some retailers are using camera systems featuring facial recognition software to help identify criminals, despite legal and privacy concerns.

Persons: they're, Christian Beckner, Beckner, Read Hayes, Hayes, Dan Berthiaume, —, James Stark, Stark, that's, David Johnston, Johnston Organizations: Getty, Walmart, Target, Kroger, Macy's, CVS, National Federation of Retailers, D.C, Prevention Research Council, University of Florida, National Coalition of Law, Walgreens, Ucg, Axis Communications, Canon Locations: Washington, Gainesville, Queens , New York, Swedish

☆ Target workers can wear shorts now, and they're thrilled about it
▼ + stars: | 2023-07-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Target employees are permitted to wear shorts to work after the company updated its dress code. Workers can now wear "capris, skirts or shorts mid-thighs or longer," the policy says. Previously, only cart attendants and drive-up fulfillment workers were allowed to hike their hemlines, Target spokesperson Brian Harper-Tibaldo told Insider. Our current uniform standards ask team members to wear solid color pants, capris, skirts or shorts in good condition," Harper-Tibaldo said. "Man, wearing shorts today was amazing lol it felt so nice not having to wear pants when it was 116 and only getting hotter," another Reddit user said.

Persons: Brian Harper, Tibaldo, Harper, subreddit, Dominick Organizations: Workers, Service, Midwest, Employees Locations: Wall, Silicon

☆ How the ultra-rich use trusts to protect the family fortune if their heirs get sued or divorced
▼ + stars: | 2023-07-14 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Four lawyers to the wealthy told Insider how these spendthrift trusts work. How spendthrift trusts workSpendthrift trusts can be used to defend an heir in virtually any kind of legal dispute. Robert Strauss, partner at Weinstock Manion, does not view spendthrift trusts as a substitute for prenups. Having separate beneficiaries and trustees is just one way to strengthen a spendthrift trust's power. Domestic asset protection trusts set up in a trust-friendly state like Delaware are very secure, he said.

Persons: Laurene Powell Jobs, Phil Knight, Karen Yates, didn't, Jere Doyle, Doyle, Spendthrift, Yates, Robert Strauss, Weinstock Manion, Strauss, Cindy Brittain, Karlin & Peebles Organizations: Apple, Nike, Mellon Wealth Management, Karlin & Locations: California, South Dakota, Delaware

☆ Former CFTC chairman says crypto regulations can't wait until litigations concludes: 'We need standards today'
▼ + stars: | 2023-07-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Massad, along with former SEC chairman Jay Clayton, detailed the theory in the Wall Street Journal last week. "We strongly support enforcement of the laws, but what we're saying is, we need more than that, and the reason is twofold," Massad said. "Let's not get hung up on that, or rather, let's have a parallel track which says, regardless of the classification issue, we need standards today." He added that this solution would be a way to get some basic industry standards in place without having to rewrite securities laws. "This is a way to get investor protection standards into the industry as it exists today without having to fundamentally change the securities or the derivatives laws."

Persons: Timothy Massad, CNBC's Jim Cramer, Jay Clayton, Massad Organizations: Futures Trading Commission, SEC

The recent crypto platform bankruptcies trapped customer assets now worth around $34 billion, according to Xclaim, which allows creditors to trade such claims. To protect themselves, institutional crypto investors are switching to exchanges that offer stronger asset protection, boosting due diligence on trading partners, and executing trades in smaller chunks, among other new risk management measures, according to executives and industry data. European crypto asset manager CoinShares ramped up its counterparty due diligence after losing 26 million pounds ($32.65 million) in the collapse of FTX. Financial regulators like the SEC say many crypto companies flout applicable rules, meaning risk management still lags the traditional financial sector. "This is inevitably risk we're all carrying in crypto - we have uncomfortable concentration risk on one large exchange called Binance," said Nickel's Crachilov.

Persons: Samed Bouaynaya, Coinbase, Altana, Binance, Anatoly Crachilov, Martin Lee, Nansen, Stephen Richardson, CoinShares ramped, cybersecurity, Jean, Marie Mognetti, Changpeng Zhao, Nickel's Crachilov, Wes Hansen, Hansen, Elizabeth Howcroft, Michelle Price, David Gregorio Our Organizations: Voyager, London, Coinbase, U.S . Securities, Exchange Commission, SEC, Asset Management, Arca, Thomson

☆ Stores are locking up entire aisles of items. They blame shoplifters — but some of it is their own fault.
▼ + stars: | 2023-06-07 | by ( Gloria Dawson | ) www.businessinsider.com time to read: +3 min

Retailers like CVS, Walmart, and Target have tried to fight theft by locking up aisles of products. Stores must also consider staffing and supply chain issues, a retail theft expert told UBS. Tech can help fight organized retail crime, but "it's necessary to follow up with human intervention," the expert said. The source told UBS that retailers often miss two key elements — staffing levels and supply chain issues — when trying to tackle shrink. "The lack of sufficient staffing remains a major contributor to shrink, as shrink monitoring technologies are only effective insofar as they flag risk," the UBS note said.

Persons: — Organizations: CVS, Walmart, Target, UBS, Tech, Service, Privacy

☆ 'It's not people shoplifting': Why retail is focused on organized crime
▼ + stars: | 2023-05-18 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +4 min

watch nowIt's been hard to get an exact read on the rise in retail theft. But this quarter's batch of retail earnings have brought the theft issue to the forefront again. Target said organized retail crime will reach $500 million more in stolen and lost merchandise this year compared with a year ago. The National Retail Federation says organized retail crime is the main reason for retail "shrink" — a mismatch between actual inventory and what is on the books — which reached $94.5 billion in 2021, an increase of almost $4 billion year over year. But shoplifting is a big part of organized crime.

☆ Americans trying to flee Sudan are hiring private security companies to get out of the civil war zone after the US said no military evacuation is coming
▼ + stars: | 2023-04-24 | by ( Hannah Getahun | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Private security contractors are being hired to evacuate Americans and other foreign nationals from Sudan. As a result, some citizens have taken it upon themselves to hire private security, according to a report from The Wall Street Journal. Private security for hireDale Buckner, CEO of private security firm Global Guardian, told WSJ the company's staff has escorted dozens of expatriates to neighboring countries — sometimes dodging gunfire, artillery, and mortar fire. "Our rescue teams have to navigate dozens of checkpoints in an active war zone," Buckner told WSJ. "It is not our standard procedure to evacuate American citizens living abroad," White House Press Secretary Karine Jean-Pierre said on Friday.

☆ How to talk to your aging parents about safe driving
▼ + stars: | 2023-03-30 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

One person may represent a danger on the roads at age 65, while another may be perfectly fine at age 85. Upgrades can help them stay safe, including technologies to keep drivers from drifting out a lane, backup cameras and various other detection systems. Special licensing requirements for elderly drivers can help screen out problems with vision and cognition. Some states require more frequent renewal for older drivers, or demand regular vision checks, or prohibit online renewals altogether. For a few hundred dollars a year, you could get a $1 million policy that should let everyone sleep better at night – both you, and your parents.

These days, it is very common for wealthy families to own residences in more than one state, making relocation even easier. In practical terms, having domicile in a state means that state can impose its respective income tax on all the income reflected on the individual's federal income tax return, regardless of the source of that income. But before you call the moving van, understand that state taxation, including state income tax as well as state estate and inheritance taxes and potential wealth taxes, is only one factor to consider as you assess changing your domicile. Some who redomicile to a state with no income tax may find that they are paying the state in other ways, such as higher inheritance, property and/or fuel taxes. That decision is even more challenging considering that states often have different rules defining what they consider domicile.

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