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Re: Legal Fees for Trusts and Wills

Most states have standard forms for health care directives and durable powers of attorney that you can download off the internet. You really don't need the pay an attorney to draft them.

plannerman
by plannerman
Sun Mar 01, 2015 6:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Legal Fees for Trusts and Wills
Replies: 37
Views: 2232

Re: Old car insurance

Great thread. So for those of you who have canceled early, how much do you think you've saved? I have an '06 with 115k miles, and perhaps I should be thinking the same. That's very tough question to answer, My wife and I have both been driving for 56 years and never personally had a collision claim...
by plannerman
Fri Feb 27, 2015 8:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Old car insurance
Replies: 39
Views: 2605

Re: Vanguard brokerage tax forms changed to late Feb. questi

Same here. When I looked at the available tax documents, I found the 1099 B had been replaced by the "Consolidated Form 1099 ". I think that is the download problem.

plannerman
by plannerman
Fri Feb 27, 2015 8:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard brokerage tax forms changed to late Feb. question
Replies: 90
Views: 6109

Re: Form 1116 country of origin

OK, so live chat did not work with H&R Block. Do they do e-mail support? I've been trying to get an answer to a simple question from Fidelity for a couple of weeks now through their various customer support channels. So far, no luck on my part, but I will keep trying. Oh, and this forum didn't ...
by plannerman
Wed Feb 25, 2015 11:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Form 1116 country of origin
Replies: 11
Views: 368

Re: Form 1116 country of origin

Easy Rhino wrote:I think the correct answer is RIC, although I don't know the block software specifically.

Any chance you don't need to fill out the 1116 at all? If it's dividends below a certain amount, you can skip it.



I wish, but I'm doing a 1041 for a trust and you do not have the option to skip.

plannerman
by plannerman
Wed Feb 25, 2015 11:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Form 1116 country of origin
Replies: 11
Views: 368

Re: Form 1116 country of origin

No you can't just type it in. I read in this article that H&R Block has customer support. Have you contacted them? Or are you afraid that they are some fly-by-night company and will give you a bogus answer? Or perhaps you stole the software and do not want to check with customer support? Serious...
by plannerman
Wed Feb 25, 2015 10:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Form 1116 country of origin
Replies: 11
Views: 368

Re: Vanguard Brokerage 1099 Available

scotthal wrote:Mine showed up mid-day today (the 24th), but TurboTax refuses to import it until the 27th



Me three
by plannerman
Wed Feb 25, 2015 9:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard Brokerage 1099 Available
Replies: 38
Views: 2357

Form 1116 country of origin

I can't be the only one with this issue, but I have been unable to pry an answer out of H&R Block. I'm hoping someone here has broken the code on this. I have a few mutual funds with foreign income and taxes withheld. H&R Block's Business tax program is asking me to enter the country of orig...
by plannerman
Wed Feb 25, 2015 9:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Form 1116 country of origin
Replies: 11
Views: 368

Re: Scott Burns on Factor investing

Nicely written article but I noticed he didn't tell us which of the factors were important and which ones we should ignore.

plannerman
by plannerman
Sat Feb 21, 2015 12:29 pm
 
Forum: Investing - Theory, News & General
Topic: Scott Burns on Factor investing
Replies: 5
Views: 931

Re: Help with Fed Retirement, North Carolina, and Bailey

Here's one definition of Credible Service--have at it:) https://www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c020.pdf Also, I'm not sure of this, but I think if you were not covered by the Bailey settlement then you cannot claim the $4,000 government retirement deduction plan...
by plannerman
Sat Feb 21, 2015 11:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with Fed Retirement, North Carolina, and Bailey
Replies: 25
Views: 939

Re: Old car insurance

I have had limited experience with collision insurance claims. The one incident I did have the car was totaled and the insurance company paid me way less than I thought it was worth. My guess is for a 9-year old Tundra, after the $1000 deductible, you might get at best a few thousand dollars--and I ...
by plannerman
Sat Feb 21, 2015 9:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Old car insurance
Replies: 39
Views: 2605

Re: Did you overestimate your retirement spending?

No.

We have been retired for 16 years and are now spending at least twice as much in real terms as I had planned on.

plannerman
by plannerman
Sun Feb 15, 2015 10:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did you overestimate your retirement spending?
Replies: 17
Views: 2254

Re: Vanguard RMD Service

Vanguard actually made an error in calculating DW's RMD last year, so you can't take anything for granted. Interesting since the calculation is quite simple. Was there some thing about your situation that made it prone to an error? You are right, this is a simple calculation, and I was astonished t...
by plannerman
Thu Jan 29, 2015 9:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard RMD Service
Replies: 14
Views: 1872

Re: Vanguard RMD Service

Vanguard actually made an error in calculating DW's RMD last year, so you can't take anything for granted.

Steve
by plannerman
Mon Jan 26, 2015 6:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard RMD Service
Replies: 14
Views: 1872

Re: Would You Trust This Webpage?

When you click on the "Apply" button to go to the page where you actually fill in the application does it come up as secure?

plannerman
by plannerman
Tue Dec 30, 2014 9:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Would You Trust This Webpage?
Replies: 22
Views: 2214

Re: retirement spending covered by SS

These numbers are not constant. When we retired we didn't have social security. At age 62 dw started collecting. I started collecting at age 70. When we retired 16 years ago, my company pension was about 50% of our income needs. Today, that pension covers about 25% of our income needs and SS about 2...
by plannerman
Sun Dec 28, 2014 10:14 am
 
Forum: Personal Finance (Not Investing)
Topic: retirement spending covered by SS
Replies: 34
Views: 2430

Re: Have you ever hoped for a correction?

I'm hoping for a correction next week. My "uncontrollable" 2015 income from SS, pension and RMDs is on the cusp of going over the next Medicare Part B premium breakpoint. Just a few bucks more in RMDs next year could cost me $125/month in increased premiums. I guess there are worse problem...
by plannerman
Wed Dec 24, 2014 11:18 am
 
Forum: Investing - Theory, News & General
Topic: Have you ever hoped for a correction?
Replies: 52
Views: 3631

Re: Distributions from a trust & taxes

Trustees have the option to make distributions from trusts for 65 days after December 31 and include that income on the K1 for the previous year. That does not mean they have to. If the trustee includes the income on the 2014 K1, then the beneficiary would include it in his or her income in 2014. pl...
by plannerman
Tue Dec 16, 2014 5:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Distributions from a trust & taxes
Replies: 1
Views: 396

Re: Vanguard and Turbo Tax

For the desktop version
Login to your Vanguard account.
Click on the "TurboTax" link
Do not sign in to your TurboTax account.
Scroll down and click on the "Download" link
The correct price will come up
by plannerman
Tue Dec 16, 2014 4:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard and Turbo Tax
Replies: 38
Views: 5162

Re: Poll: Dividend income to match annual salary?

I have no idea what my income from dividends is.

plannerman
by plannerman
Wed Dec 10, 2014 11:38 am
 
Forum: Investing - Theory, News & General
Topic: Poll: Dividend income to match annual salary?
Replies: 39
Views: 3839

Re: What % of your fixed-income is TIPs?

About 75% of my fixed income is in TIPs. I'm 15 years into retirement and maintain a rolling 10-year TIPs ladder for expected retirement cash flow needs. I forecast my expected future annual cash needs, subtract my other sources of retirement cash flow (SS, company pension) and then purchase individ...
by plannerman
Thu Dec 04, 2014 3:17 pm
 
Forum: Investing - Theory, News & General
Topic: What % of your fixed-income is TIPs?
Replies: 71
Views: 3660

Re: Question about taking Required Minimum Distribution from

Have you considered taking your IRA RMD "in kind"? You would simply transfer a TIP security that satisfied the RMD from your IRA to a taxable brokerage account--you don't have to sell it. Some people don't like TIPs in taxable accounts, but give the interest rates on most TIPs these days, ...
by plannerman
Wed Nov 26, 2014 1:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question about taking Required Minimum Distribution from IRA
Replies: 18
Views: 1902

Re: Advice on Certified Financial Planning Certificate

If all you want to do is pass the certification test, I think online courses would work fine. If you want to learn about personal finance as well as pass the test, I would recommend finding a class. Maybe I was just lucky, but I learned a lot more about personal finances from my classmates than I di...
by plannerman
Tue Nov 25, 2014 1:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice on Certified Financial Planning Certificate
Replies: 5
Views: 924

Re: What financial tools/software do you use?

I use very comprehensive cash flow software program called Golden Years from Moneytree software.

plannerman
by plannerman
Wed Nov 19, 2014 9:19 am
 
Forum: Personal Finance (Not Investing)
Topic: What financial tools/software do you use?
Replies: 35
Views: 2817

Re: Low cost trust or equivalent?

There could be other "cost frictions" as well. One might be the cost of preparing the federal 1041 trust income tax form and the respective state form. Another could be the higher income tax rates for trusts if all the income is not distributed to the beneficiaries.

planneman
by plannerman
Tue Nov 18, 2014 1:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Low cost trust or equivalent?
Replies: 8
Views: 2051

Re: Traditional Medicare vs Medicare Advantage

Everyone of these Medicare vs Medicare Advantage Plans discussion is fraught with incomplete information, anecdotal information, misinformation and just plain wrong information. There is no such thing as a Medicare Advantage Plan. There are several maybe even hundreds of Medicare Advantage Plans. Th...
by plannerman
Tue Oct 28, 2014 1:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Traditional Medicare vs Medicare Advantage
Replies: 30
Views: 2628

Re: POLL: Gross Annual Retirement Income Before Taxes

My response included RMDs, which are income, but we don't necessarily spend all of the proceeds.

plannerman
by plannerman
Tue Oct 28, 2014 1:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Gross Annual Retirement Income Before Taxes
Replies: 25
Views: 2120

Re: Vanguard, TIPs, Accrued Interest & RMDs

Thanks Alan, I am still waiting, somewhat impatiently, for Vanguard's response. I will post it if and when I get it. I really doubt they made an error in reporting the balance without accrued interest, but as I said before, I have been unsuccessful find anything that authorizes it. The thing that se...
by plannerman
Mon Oct 27, 2014 4:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 2024

Re: Vanguard, TIPs, Accrued Interest & RMDs

Vanguard computes my RMD amount for me. They computed my wife's for her and it was incorrect--that's what started this discussion. plannerman OK, I'll bite. Are you saying that Mrs. Plannerman's RMD was understated by the amount of accrued interest on TIPs held in her IRA? Christine, Actually no. V...
by plannerman
Sun Oct 26, 2014 5:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 2024

Re: Vanguard, TIPs, Accrued Interest & RMDs

chaz wrote:Vanguard computes my RMD amount for me.


They computed my wife's for her and it was incorrect--that's what started this discussion.

plannerman
by plannerman
Sun Oct 26, 2014 2:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 2024

Re: Vanguard, TIPs, Accrued Interest & RMDs

Wow, more heat than light in this discussion. What Pub 590 says is “ IRA account balance. The IRA account balance is the amount in the IRA at the end of the year preceding the year for which the required minimum distribution is being figured.” That is the question we are talking about--what is that ...
by plannerman
Sat Oct 25, 2014 3:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 2024

Re: Vanguard, TIPs, Accrued Interest & RMDs

I think I found the answer to my question in Pub 550 The following paragraph covers the treatment of TIPs in a taxable account, but I think it is reasonable to apply it to when interest is constructively received for valuing a retirement account. "Inflation-Indexed Debt Instruments If you hold ...
by plannerman
Sat Oct 25, 2014 5:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 2024

Re: Vanguard, TIPs, Accrued Interest & RMDs

Let me be clear here--I'm talking about individual TIPs bonds, not bond mutual funds.

plannerman
by plannerman
Fri Oct 24, 2014 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 2024

Vanguard, TIPs, Accrued Interest & RMDs

Vanguard reports the value of TIPs ( and I suspect all bonds) less accrued interest. I believe they also use this value to calculate your RMD. I’m certainly no tax expert, but it seems to me ones RMD should be based on the market value of the securities held in your retirement accounts at the end of...
by plannerman
Fri Oct 24, 2014 8:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 2024

Re: [Confused with Medigap Options]

I have been going through the exercise to see if it would be better for me to get the hi-ded plan F or plan G. I took a look at my records for last year to see how I would have fared had I had to pay the $2,180.00 deductible for plan F. It is impossible to figure out what is what. As an example, I ...
by plannerman
Mon Oct 20, 2014 11:39 am
 
Forum: Personal Finance (Not Investing)
Topic: [Confused with Medigap Options]
Replies: 39
Views: 1993

Re: POLL: How fulfilling is your retirement?

It has been the best period of our lives.

plannerman
by plannerman
Sun Oct 19, 2014 9:10 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: How fulfilling is your retirement?
Replies: 34
Views: 3093

Re: "I've had it" at work - how often

That's why they call it work.

plannerman
by plannerman
Sat Oct 18, 2014 3:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: "I've had it" at work - how often
Replies: 151
Views: 12961

Re: What Do You Keep In Your Bank Safe Deposit Box?

I gave up my safe deposit box several years ago after they kept raising the annual fee. Went out and bought a fire resistant (nothing is truly fire proof) lock box for the cost of less than a 2 year safe deposit fee. I use it for important papers. No jewels or precious metals. +1 plus it's a lot mo...
by plannerman
Mon Oct 13, 2014 8:06 am
 
Forum: Personal Finance (Not Investing)
Topic: What Do You Keep In Your Bank Safe Deposit Box?
Replies: 39
Views: 2728

Re: Order TurboTax Now: How to forecast W-2?

I'm thinking about purchasing TurboTax now instead of after the new year like I always do. Reason being is that I want to figure out how much more I need to save to my 401k in order to lower my MAGI enough so that I can contribute to a Roth IRA. If you have the 2013 desktop version of Turbotax it h...
by plannerman
Sat Oct 11, 2014 6:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Order TurboTax Now: How to forecast W-2?
Replies: 4
Views: 611

Re: Medicare Advantage to T Medicare plus supplement

Are you sure you have a "Medicare Advantage" plan, and not a "Medicare Cost" plan? I have a Kaiser Medicare Cost plan (very much like a Medicare Advantage plan - but lightly different) - and, although I have no plans to do so (and have never done so), I can see any provider that...
by plannerman
Fri Oct 10, 2014 6:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage to T Medicare plus supplement
Replies: 17
Views: 1172

Re: Medicare Advantage to T Medicare plus supplement

That sounds like a great Medicare Advantage plan! What does it cost above regular Medicare?


Here are two available in NC https://www.bcbsnc.com/content/medicare ... lueppo.htm

I chose the $57.40/month one for 2015

plannerman
by plannerman
Thu Oct 09, 2014 8:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage to T Medicare plus supplement
Replies: 17
Views: 1172

Re: Medicare Advantage to T Medicare plus supplement

" I choose what docs to go to and when, with no-ones permission required.


With My Medicare Advantage plan I can go to any doctor that accepts Medicare with no referrals. How is that different than yours?

plannerman
by plannerman
Thu Oct 09, 2014 5:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage to T Medicare plus supplement
Replies: 17
Views: 1172

Medicare Advantage to T Medicare plus supplement

There have been a number of threads on this board discussing that once you select a Medicare Advantage Plan that there are only a few instances where if you want to go back to Traditional Medicare that you have a guaranteed issue right to buy a Medigap supplement. Without that right, Medigap insurer...
by plannerman
Thu Oct 09, 2014 1:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage to T Medicare plus supplement
Replies: 17
Views: 1172

Re: My 2015 Medicare Costs/benefit changes

Could you explain/elaborate how, apparantly, the same medical service is paid more by Medicare, if the practice iw owned by the hospital? For one thing, they charge for both the doctor and the facility--just like if you wert to the ER--even though it's in the same doctors office you have always vis...
by plannerman
Sun Oct 05, 2014 3:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: My 2015 Medicare Costs/benefit changes
Replies: 13
Views: 1693

Re: My 2015 Medicare Costs/benefit changes

My group Medicare Advantage Plan (PPO) went up from $43 to $52--i'm happy. Where we live, many of the specialist's practices have been bought up by the local hospitals (because they can charge Medicare more). The upside for consumers is that because these hospitals are all in network so are these sp...
by plannerman
Sat Oct 04, 2014 10:34 am
 
Forum: Personal Finance (Not Investing)
Topic: My 2015 Medicare Costs/benefit changes
Replies: 13
Views: 1693

Re: Medicare question

I'm not sure OP has an HSA since you can't be 65 (or have Medicare) and an HSA. In our case, it is an HRA (reimbursement account) , and reimburses us only for health care premiums (Medicare pt B, medigap, Rx plan, or advantage plan) but not copays/coinsurance. You are correct HRA not HSA old and co...
by plannerman
Fri Oct 03, 2014 9:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare question
Replies: 8
Views: 953

Re: Medicare question

I have no clue. I think these exchanges may get "commissions" from the from the plans they sell. So maybe mega corp is just unloading benefit plan administration costs to the exchange. I am suspicious, however, that after the first transition year the contributions to the HSAs will decline...
by plannerman
Fri Oct 03, 2014 7:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare question
Replies: 8
Views: 953

Re: Medicare question

Thanks for the replys.

plannerman
by plannerman
Fri Oct 03, 2014 6:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare question
Replies: 8
Views: 953

Medicare question

My wife is on Traditional Medicare and has secondary medical coverage and drug coverage from her former employer. This former employer has decided to get out of the business of providing their Medicare eligible retirees with medical or drug coverage. However, if she purchases either a Medicare Advan...
by plannerman
Thu Oct 02, 2014 6:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare question
Replies: 8
Views: 953

Re: Should I get an Estate Planner?

With a wife and kids, you most certainly need an estate plan. Since you say you are financially naive, I don't think this is an area where you want to try to do something yourself, so yes, you need an estate planner. Find a good estate planning attorney and pay them to create the appropriate wills/t...
by plannerman
Mon Sep 15, 2014 11:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I get an Estate Planner?
Replies: 9
Views: 833
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