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Re: Anyone else very reluctant to buy right now?

I certainly don't market time but on days like today if I remember I try to make a purchase of some sort. I'm in the process of reallocating an IRA-BDA that had a lot of holdings. I sold all the mutual funds last week and bought an index fund with some of the proceeds, leaving the rest in cash. Toda...
by bru
Thu Apr 10, 2014 5:45 pm
 
Forum: Investing - Theory, News & General
Topic: Anyone else very reluctant to buy right now?
Replies: 124
Views: 12141

Re: Just returned new laptop with Window 8.1

I fully agree your comment. But it is clear that you have read ONLY the beginning and end of this thread, thus missing much of its progression. Congratulations on your mastering of 8.1. I admire your accomplishment. Peace, JTJjr I assume you are responding to me. No I did not read 100 posts. And ap...
by bru
Tue Apr 08, 2014 10:42 pm
 
Forum: Personal Consumer Issues
Topic: Just returned new laptop with Window 8.1
Replies: 104
Views: 7826

Re: Just returned new laptop with Window 8.1

After hearing about all the concerns, I never expected to own a computer with Windows 8 or 8.1 but I couldn't pass up a terrific deal on a touchscreen laptop. It came with Win 8 and I immediately updated it to 8.1 I have no issue running this computer just like a Win 7 computer without any modificat...
by bru
Tue Apr 08, 2014 4:03 pm
 
Forum: Personal Consumer Issues
Topic: Just returned new laptop with Window 8.1
Replies: 104
Views: 7826

Re: The Estate lawyer cost us big

For those suggesting filing a dispute did anyone read the link to the Chicago Bar Associaton's Attorney Fee Dispute? http://www.chicagobar.org/AM/Template.cfm?Section=Attorney_Fee_Dispute_Assistance&Template=/CM/ContentDisplay.cfm&ContentID=2424 I'll save you the trouble: "If the Commit...
by bru
Tue Feb 25, 2014 11:23 am
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

Ok here goes with all due respect to you and your situation: Either poop or get off the pot. With the advice that has been given to you from this board based on the info you have provided it sounds to me like you've been given multiple options of which really don't take that much time. You have pro...
by bru
Mon Feb 24, 2014 9:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

Here is a thought. The beneficiaries of the trust are not the same as the beneficiaries of the estate, and the lawyer for the trust is spending a lot of time negotiating with the lawyer for the estate. Think divorce: it is easy to run up charges when the two sides are battling over money. P.S. I ca...
by bru
Mon Feb 24, 2014 7:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

For those that asked my wifes health is still pretty bad. 8 days and counting in the hospital. Hoping to move her to a Long Term Acute Care facility but doubtful insurance will pay. Having only received a partial breakdown of fees so far I asked for a complete breakdown of costs. Received 10 pdf fil...
by bru
Mon Feb 24, 2014 7:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

As one of the several attorneys who have discussed this, it simply doesn't pass the smell test. No law firm could get away with charging $100k on a $700k estate and I can't even imagine a reputable firm making an attempt to charge this much. You are clearly missing some facts. You have been given m...
by bru
Mon Feb 24, 2014 1:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

What were the 100k in expenses? Expenses in probating an estate include payment of funeral expenses and preparation of tax returns as well as legal and executors fees. Funeral expenses and tax preparation fees not part of the executors fees but are an expense against the estate. I answered this que...
by bru
Mon Feb 24, 2014 9:50 am
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

Contact someone higher than your cousin, and explain that you feel very upset about the overbilling and that you think a reasonable number is X (I would have another unrelated lawyer estimate based on the amount of work), and for them to meet it. Go item wise on each instance of overbilling. Don't ...
by bru
Mon Feb 24, 2014 9:37 am
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

For the basics, most ethical law firms will use paralegals for the basics. $1MM annual lawyer rate fees for, what it sounds like, a not too complicated estate sounds a tad unethical. $100K in fees is 200 hours of their time - must have been one complicated estate. :annoyed However, as attorneys, I'...
by bru
Mon Feb 24, 2014 12:16 am
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

harrylime wrote:So, to sum it up... It's "fund the kids' college fund" time for your cousin and his law firm.

The question is whether you are going to do anything about it.

Based on my above two posts what exactly can I do?
by bru
Mon Feb 24, 2014 12:11 am
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

I count four Boglehead attorneys in this thread with estate experience, and we each seem to have the same reaction: These facts don't add up. Now, they may not add up because the executor in question is in fact unethical. From the OP's posts, it seems that the executor is a reputable attorney from ...
by bru
Mon Feb 24, 2014 12:10 am
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

I think a number of us still feel you don't have all the facts. You say there was $600k left for distribution. How much was the gross estate? What was the nature of the assets and how were they held? Was there a Federal or state estate tax return? How do the fees break down as between trustees, per...
by bru
Mon Feb 24, 2014 12:07 am
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

The Wizard wrote:They may have paralegals or secretaries to do the work at half that hourly rate...

Most everything was done by the Executor and one other lawyer at the firm. Hourly rates for each ~$500. Of course the expenses would have been much less if they had used paralegals. They didn't.
by bru
Sun Feb 23, 2014 10:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

You still haven't said anything about the size and nature of the estate (including the trust). If a tax return cost $16,000, if it was an income tax return, the estate was probably large and complicated. If it was an estate tax return, then the estate was large enough to require an estate tax retur...
by bru
Sun Feb 23, 2014 10:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

Based on all that you have told us, my gut tells me that your father trusted his nephew to be the trustee and executor due to his legal background, family relation, and a belief that handling an estate is necessarily complicated. It does seem that the expenses are high, though likely all "lega...
by bru
Sun Feb 23, 2014 7:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

My father named my cousin as executor of his Estate. Why exactly he did it we aren't sure. This is the heart of the issue. If we knew your father's reasons for naming someone other than one of his adult children as executor, that might explain the expense. I know you don't know either, so I don't m...
by bru
Sun Feb 23, 2014 7:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

I would not sign anything yet and take that 37 page document of transactions to an estate lawyer to look over and give you his/her take on if it seems reasonable. I don't think it should take more than an hour to go through and cost no more than $150 - $250 for the consult. The 37 page document is ...
by bru
Sat Feb 22, 2014 12:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

What about costs associated with selling the house? Was new carpet or paint required? Did the law firm charge for managing projects like that? I think this is getting hard to follow. I mentioned a couple of times, fees associated with selling the house were deducted from the trust. What is ironic i...
by bru
Sat Feb 22, 2014 12:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

What I am not sure about, is if you are talking only about legal fees, or legal fees, executor fees and probate fees, or all those fees and costs to close the estate like paying off debts. Could you clarify what is involved in that 100,000 plus in expenses? From what I can tell the fees the executo...
by bru
Sat Feb 22, 2014 12:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

I truly appreciate the responses so far. I will try to address some of the questions and comments. If I miss something please ask again and I will do my best to answer. All payment of bills like credit cards, HELOC etc. related to my father's estate were were deducted from the trust. The law firms e...
by bru
Sat Feb 22, 2014 11:49 am
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

It's even worse than I thought. $101,349 in fees. I have an extremely sick wife in the hospital and a young son I am essentially raising alone, this is the last thing I need to deal with but I think I have to somehow. But I don't know where to even start. I am being pressured to sign papers to recei...
by bru
Fri Feb 21, 2014 11:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: The Estate lawyer cost us big

State is IL. I believe there are no fixed fees in this state. Estate left for distribution is ~$600K. Fees are about $90K. No detailed explanation of fees only amounts paid to the firm by the estate. There was a Trust which the cousin administered. There were also parts of the estate that needed to ...
by bru
Fri Feb 21, 2014 1:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

The Estate lawyer cost us big

My father named my cousin as executor of his Estate. Why exactly he did it we aren't sure. Cousin is a high powered Real Estate lawyer, not an Estate lawyer. I'm sure when my father did this he didn't envision my cousin and his firm charing us almost six figures when all is said and done. Knowing ho...
by bru
Fri Feb 21, 2014 12:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: Windows XP Advice

Why are you considering a new computer? Does the old one seem to be having trouble? I know this is the forum of the extremely fugal...err Bogleheads but with support for XP ending it seems this would be the time to buy a new computer or at least a new OS. Yes I know there are ways around it etc. bu...
by bru
Fri Feb 14, 2014 12:47 pm
 
Forum: Personal Consumer Issues
Topic: Windows XP Advice
Replies: 21
Views: 1306

Re: Distribution from IRA BDA and Form 8606

bru, the bda is NOT included in the 8606 for your owned IRA. Therefore, the calculation of taxes on your conversion will be unaffected. If the BDA happened to have basis from decedent's non deductible contributions that you inherited, that basis goes on a separate 8606 labeled to apply only to the ...
by bru
Thu Feb 13, 2014 3:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Distribution from IRA BDA and Form 8606
Replies: 3
Views: 174

Distribution from IRA BDA and Form 8606

Hoping Alan S. see this and chimes in. Received a distribution from a IRA BDA in 2013. Wondering how (or if) it needs to be included in Form 8606. If it does need to be reported I hope I didn't open up a can of worms since I did a fully deductible contirubtion to a traditional IRA and then converted...
by bru
Thu Feb 13, 2014 1:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Distribution from IRA BDA and Form 8606
Replies: 3
Views: 174

Omission in Roth conversion article or am I wrong?

Did this guy, a supposed financial expert, make a big omission in this article about Roth conversions? He focuses on state tax and implies you will pay state tax on the conversion. http://www.cnbc.com/id/101297501?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=101297501...
by bru
Wed Jan 15, 2014 12:32 pm
 
Forum: Investing - Theory, News & General
Topic: Omission in Roth conversion article or am I wrong?
Replies: 2
Views: 253

Re: Best Movies of 2013

jginseattle wrote:The Place Beyond the Pines.

Only one on your list I saw. Great movie. Almost like two movies for the price of one.

Its on HBO this month if anyone hasn't seen it.
by bru
Tue Jan 14, 2014 6:54 pm
 
Forum: Personal Consumer Issues
Topic: Best Movies of 2013
Replies: 83
Views: 5540

Re: "Gold to tank in 2014: Goldman Sachs"

My father was a Watchmaker and owned a retail jewelry store that he closed in the 80's. He had lots of inventory and personal jewelry that he kept until his death almost a year ago. Just our luck that while the Executor of his estate was twiddling his thumbs the price of gold tanked. He still is sit...
by bru
Tue Jan 14, 2014 3:12 pm
 
Forum: Investing - Theory, News & General
Topic: "Gold to tank in 2014: Goldman Sachs"
Replies: 94
Views: 6834

Re: RMD from IRA-BDA

You can simplify the whole account to fit the rest of your asset allocation and purchase the low-expense (sometimes lower than Vanguard) Fidelity Spartan funds for free at Fidelity. Might as well do all at once unless you get a limited number of free trades per time period. Yes I really need to sim...
by bru
Tue Dec 03, 2013 10:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: RMD from IRA-BDA
Replies: 4
Views: 295

RMD from IRA-BDA

I need to take the RMD from my inherited Traditional IRA before year's end. The IRA-BDA was established this year so the RMD is based on the previous owner's account. The IRA is with Fidelity. I should have moved it to Vanguard but I never got around to it so I will take the RMD from the Fidelity ac...
by bru
Tue Dec 03, 2013 4:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: RMD from IRA-BDA
Replies: 4
Views: 295

Re: Cheap 9-10 inch tablets / Black Friday deals

OP has a 7" tablet. He asked about 9-10" tablet. Several recos have been for smaller tablets. Some could be almost considered 9" (round up 8.9"), but an 8" tablet isn't what he was looking for.
by bru
Sat Nov 30, 2013 9:28 pm
 
Forum: Personal Consumer Issues
Topic: Cheap 9-10 inch tablets / Black Friday deals
Replies: 49
Views: 3807

Re: Cheap 9-10 inch tablets / Black Friday deals

You said "cheap" Get 2 :sharebeer Tis the season No like? Return to Walmart :happy http://www.walmart.com/ip/XELIO-9-Tablet-With-8GB-Memory/23709348 The 7" version of these were on sale at Wal-mart for $39.99 a couple of months ago. I bought 3 b/c it was so cheap and was running the ...
by bru
Sat Nov 30, 2013 7:51 pm
 
Forum: Personal Consumer Issues
Topic: Cheap 9-10 inch tablets / Black Friday deals
Replies: 49
Views: 3807

Re: Cheap 9-10 inch tablets / Black Friday deals

I'm looking to get a cheap 9-10" tablet. I'll use it mostly for watching YouTube and browsing the web (I use my iPhone or laptop for everything else). I'm looking into the Nook HD which is only $150. Are there any other tablets I should consider? Any killer Black Friday deals? The Nook HD is a...
by bru
Sat Nov 30, 2013 7:35 pm
 
Forum: Personal Consumer Issues
Topic: Cheap 9-10 inch tablets / Black Friday deals
Replies: 49
Views: 3807

Re: Computer virus protection

Your email being hacked could easily have had nothing to do with your AV.

In the linked thread there was no mention of Malwarebytes. Highly recommend it as a supplemental on demand scanner (or real time for $) to whatever AV you end up using. FWIW I use MSE.
by bru
Wed Oct 16, 2013 8:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Computer virus protection
Replies: 8
Views: 804

Re: How Often Do Gamblers Really Win?

The article mention one of the only winners as someone who walked away after two big wins. That's what I tried do when I used to gamble somewhat regularly. Of course it didn't work every time but like most level headed people I limited my losses and knew when to walk away. I kept a journal and over ...
by bru
Mon Oct 14, 2013 5:12 pm
 
Forum: Investing - Theory, News & General
Topic: How Often Do Gamblers Really Win?
Replies: 51
Views: 3966

Re: Free Kindle book "Are You a Stock or a Bond?"

I am not a stock or a bond. I am a person. Stocks and bonds are property. For many years I "had" a job, but I did not own my job. Jobs are not property. A bond is a contract. In my case, at least, I did not have an employment contract. Do you? It's just an eBook, and a free one at that. M...
by bru
Mon Oct 14, 2013 4:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: 5 Free Kindle books including 4 from Liz Weston
Replies: 11
Views: 2087

Re: dishwasher vs manual dish washing

Not only does the dishwasher use less water compared to me washing by hand (dishwasher uses ~12 gallons of water at the most which is roughly 4 minutes of the water running), it saves me tons of time. Even if using the dishwasher used the same amount of water the time savings would be worth it for ...
by bru
Mon Oct 14, 2013 4:24 pm
 
Forum: Personal Consumer Issues
Topic: dishwasher vs manual dish washing
Replies: 54
Views: 4029

5 Free Kindle books including 4 from Liz Weston

edit: Still free as of 8:30 AM CDT I come across many free Kindle books related to finance, figured I'd share these. 4 books total . Says list price is $90. Liz Weston on Personal Finance (Collection) (2nd Edition) [Kindle Edition] Liz Weston (author) A brand new collection of up-to-the-minute perso...
by bru
Mon Oct 14, 2013 12:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: 5 Free Kindle books including 4 from Liz Weston
Replies: 11
Views: 2087

Re: Android Tablet

If it were me, I would wait until the Nexus 10 refresh. And expect to pay $400 or more. Not saying it won't be worth it but my philosophy with tablets was to find something relatively inexpensive with performance that met my needs. The Nook HD/HD+ which is being cleared out by B&N and many othe...
by bru
Sun Sep 15, 2013 2:39 pm
 
Forum: Personal Consumer Issues
Topic: Android Tablet
Replies: 42
Views: 3349

Re: NOT saving for college

Got to run, off to pick up my son from school. I'm waiting for the day someone calls me "Grandpa". Last year, I went to a teacher conference with a new teacher who did not know me. I was 61 yo at the time. The teacher came up to shake my hand, said: "and you must be Mr. Tomahto, Toma...
by bru
Tue Sep 03, 2013 4:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: NOT saving for college
Replies: 112
Views: 7788

Re: NOT saving for college

Pondering this, I think I appreciate some of the issues of older parents a bit more. Having children later gives you an increased ability to save, but you may have less of an ability to cash-flow college if you plan on retiring early. When I had mine we were just scraping by - not making a bad livi...
by bru
Tue Sep 03, 2013 3:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: NOT saving for college
Replies: 112
Views: 7788

Re: NOT saving for college

If there is realistically speaking no new money, then yes, your proposal makes sense. I'm assuming of course that you still have earned income which I believe is a requirement for funding IRAs and obviously so with 401k / 403b / etc. A minimal amount of earned income. Just enough to qualify. I had ...
by bru
Tue Sep 03, 2013 12:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: NOT saving for college
Replies: 112
Views: 7788

Re: NOT saving for college

not really. you want to max those retirement accounts. You cant shift more once you have maxed those yearly contributions. If you are using "old" money then new money wont be going into those accounts and will now just "replace" the money "shifted" from taxable. You im...
by bru
Tue Sep 03, 2013 11:47 am
 
Forum: Investing - Help with Personal Investments
Topic: NOT saving for college
Replies: 112
Views: 7788

Re: Retiring in 3 years and sitting on 85% cash since 2008

How did you recover your 2007-2009 losses if you've been 85% cash since 2008? The (I assume) 15% in equities or other investmenst doesn't seem like it could have been enough to recover from your losses, especially when you say you were 90% equities in '07-09.
by bru
Tue Sep 03, 2013 11:36 am
 
Forum: Investing - Help with Personal Investments
Topic: Retiring in 3 years and sitting on 85% cash since 2008
Replies: 75
Views: 7232

Re: NOT saving for college

Because of a myriad of reasons we have not started a college fund for our now 5 year old. However we have significant assets, both liquid and retirement, that should cover some if not all of his college costs should he choose to attend. I should mention we will be able to access the retirement accou...
by bru
Tue Sep 03, 2013 11:05 am
 
Forum: Investing - Help with Personal Investments
Topic: NOT saving for college
Replies: 112
Views: 7788

Re: Windows XP users

I have a 10 year old XP machine that my kids use. I will do nothing and continue to let my kids use it. Even with the computer dedicated to your kids you still can and probably will have trouble. Not that XP isn't bombarded now with hackers but the minute the support stops it will be the Wild West....
by bru
Tue Aug 27, 2013 10:52 am
 
Forum: Personal Consumer Issues
Topic: Windows XP users
Replies: 205
Views: 13381

Re: Just had a baby- need to start saving for college

Hello all, My wife and I just had our first baby and now comes the daunting challenge of saving for college. Does anyone on the board have advice for how I should start this process? Is putting money in a 529 the standard procedure? Like in the last week or two? Relax...well at least as much as pos...
by bru
Thu Aug 08, 2013 4:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Just had a baby- need to start saving for college
Replies: 36
Views: 3208
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