Search found 2097 matches

by Carefreeap
Mon Dec 11, 2017 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Done gone and did it [Retire]
Replies: 80
Views: 7687

Re: Done gone and did it

This event just happened right before Thanksgiving. And, it is a megacorp. I didn't intend to express doubt. I'd take a layoff if I could get it. That would be better for me. After all, I don't get any severance or unemployment. Earl Lemongrab, She was laid off before the end of the year. Hence, sh...
by Carefreeap
Mon Dec 11, 2017 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Commercial property as part of your portfolio anyone?
Replies: 7
Views: 843

Re: Commercial property as part of your portfolio anyone?

Inherited a 1/2 interest in a strip mall back in 2001. Tried to make it work but between the deferred maintenance and dealing with the other owner (Trust Company on behalf of DH's uncle) it was nearly impossible to make it work. Couldn't refinance due to Trustee's inflexibility or do other tweaks to...
by Carefreeap
Mon Dec 11, 2017 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Done gone and did it [Retire]
Replies: 80
Views: 7687

Re: Done gone and did it

I was clicking some stuff on the Megacorp web site and next thing you know I've submitted a retirement notice for January 31, 2018. :) Getting set up for hand-off of duties and whatnot over the coming weeks. A new chapter. Earl Lemongrab, I hope it works out for you. My friend's co-worker told her ...
by Carefreeap
Fri Dec 08, 2017 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: 840 credit score Million dollar farm.. low income cannot get Heloc?
Replies: 64
Views: 4476

Re: 840 credit score Million dollar farm.. low income cannot get Heloc?

It might be that seeking a HELOC is the problem. He may do better applying for a first mortgage. Mortgage term would be longer, so lower payments and more easily serviced on low income. A bank holding a first mortgage is in better position to get repaid should they have to foreclose. (Can one get a...
by Carefreeap
Wed Dec 06, 2017 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Question on inheriting real estate from parents
Replies: 24
Views: 2790

Re: Question on inheriting real estate from parents

So I spoke with my CPA. She confirmed receiving by inheritance is the best idea here versus gifting, so as to avoid receiving the original cost basis and incurring the cap gains on those. I asked about depreciation recapture and she was mentioning she didn't think that would be as big of an issue. ...
by Carefreeap
Wed Dec 06, 2017 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Friend buys a lot of stuff because he want's to reduce his tax liability. Is this thinking flawed?
Replies: 47
Views: 4109

Re: Friend buys a lot of stuff because he want's to reduce his tax liability. Is this thinking flawed?

One of the business owner "myths" to those not familiar with business is the ability to "write off" expenses so deeply that the deduction is equal to or greater than the purchase price of the goods or service. It makes zero sense, yet the myth endures. j :D :thumbsup And the tip off of the flawed t...
by Carefreeap
Mon Dec 04, 2017 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Question on inheriting real estate from parents
Replies: 24
Views: 2790

Re: Question on inheriting real estate from parents

You'll inherit at the stepped up value and you won't have to worry about depreciation recapture et cetera. Not sure what kind of structure their estate would be using but either those properties 1) Go through probate and the Executor sells or transfers the assets to the heirs, 2)the properties are ...
by Carefreeap
Mon Dec 04, 2017 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: Question on inheriting real estate from parents
Replies: 24
Views: 2790

Re: Question on inheriting real estate from parents

One more thing to give some serious consideration to when making this decision is that Prop. 13 allows children to maintain the lower property taxes of the parents when inheriting property. I don't know how that works when multiple children inherit but it is worth looking into. If your parents have...
by Carefreeap
Mon Dec 04, 2017 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Question on inheriting real estate from parents
Replies: 24
Views: 2790

Re: Question on inheriting real estate from parents

One more thing to give some serious consideration to when making this decision is that Prop. 13 allows children to maintain the lower property taxes of the parents when inheriting property. I don't know how that works when multiple children inherit but it is worth looking into. If your parents have...
by Carefreeap
Fri Dec 01, 2017 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: What's your experience with Medicaid ?
Replies: 41
Views: 2439

Re: What's your experience with Medicaid ?

How good or bad it is often depends on what state you're in because it's a state-administered program. You'll get better answers if you tell people what state you're asking about. 1. My understanding (speaking with folks I know) is that this is very true. 2. Some HMOs enroll patients under Medicaid...
by Carefreeap
Fri Dec 01, 2017 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Discovered debt
Replies: 63
Views: 7601

Re: Discovered debt

Wouldn't applying for spousal SS retirement benefits be his best option for income, assuming he hasn't already? She hasn't yet reached full retirement age - she has another year to go. So I don't think he can claim spousal benefits. He originally was waiting until age 70 to claim but due to the rev...
by Carefreeap
Fri Dec 01, 2017 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Discovered debt
Replies: 63
Views: 7601

Re: Discovered debt

Puzzled why people have her drawing funds from her creditor-protected accounts - those should never be touched in this situation. And home equity would be protected under a bankruptcy filing, so the taxable monies are the ones at risk (are they needed for retirement?) Since hubby has a hobby, not a...
by Carefreeap
Thu Nov 30, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Bypass trust from 2009. I'm trustee. Questions about distributions, tax implications, and maybe decanting it?
Replies: 14
Views: 910

Re: Bypass trust from 2009. I'm trustee. Questions about distributions, tax implications, and maybe decanting it?

Obviously you need a NY attorney and CPA for this detailed and complex situation and I'm not either. :wink: Some follow up questions; you mentioned in your opening paragraph that the Trust was set up with $500k from the proceeds of a house sale and then later in your post you mention that the Trust ...
by Carefreeap
Thu Nov 30, 2017 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Independent Trustee Actively Managing Trust Account
Replies: 96
Views: 4370

Re: Independent Trustee Actively Managing Trust Account

I can assure you the bank won’t halve their fee. Investing a trust is only one of their many responsibilities as you will see in the future, not the least of which will be acting on your requests for discretionary invasions of principal . Gill I've often thought this was the real work of a professi...
by Carefreeap
Thu Nov 30, 2017 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 38
Views: 3361

Re: Who are heirs? No will.

I'm confused as to whether Robert had 3 or 4 brothers in the O.P? Or is he one of the numbered brothers?
by Carefreeap
Thu Nov 30, 2017 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Independent Trustee Actively Managing Trust Account
Replies: 96
Views: 4370

Re: Independent Trustee Actively Managing Trust Account

If you were meant to have control of the trust assets the testator would have left them to you outright. The trust was established for good reason by the decedent and the trustee is being compensated a very normal trustee’s fee. You have no authority to direct investment of the trust. Quite likely ...
by Carefreeap
Wed Nov 29, 2017 3:41 pm
Forum: Personal Consumer Issues
Topic: Solid Surface Shower Walls and Pan
Replies: 11
Views: 1821

Re: Solid Surface Shower Walls and Pan

Dottie57 wrote:
Fri Nov 24, 2017 1:19 pm
What type of materials are used. Fiberglass?
Ours (two baths and will do a third with another remodel) are a Corian knock-off called Livingstone. Care even after 4 years is minimal.
by Carefreeap
Wed Nov 29, 2017 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on best approach to deleveraging...
Replies: 6
Views: 744

Re: Advice on best approach to deleveraging...

If your goal is to simplify, I'd probably pay off the house over time, say pre-pay until you retire and/or the re-set happens. If something happens to you it's probably much easier for your spouse to sell the rental house and get rid of its loan than to deal with trying to make payments or deal with...
by Carefreeap
Wed Nov 29, 2017 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Independent Trustee Actively Managing Trust Account
Replies: 96
Views: 4370

Re: Independent Trustee Actively Managing Trust Account

Many seem to be expressing an attitude that confirms suspicions regarding corporate trustees. Beneficiaries are greedy brats, good thing the old man hired the bank to save them from themselves. 34 individual stocks is terrible management, period. The OP is completely justified in wanting it simplif...
by Carefreeap
Wed Nov 29, 2017 11:23 am
Forum: Personal Consumer Issues
Topic: National Park trip w/1 year old infant
Replies: 35
Views: 1897

Re: National Park trip w/1 year old infant

I carried my daughter til she was 3; but between food, water, diapers, her, etc., the pack pushed 50# by the end, and depending on one’s fitness level, that may no longer qualify as ‘fun.’ My day hikes shrank in length until the day I stopped carrying her, at which point they grew again. Lol, backb...
by Carefreeap
Wed Nov 29, 2017 11:21 am
Forum: Personal Consumer Issues
Topic: National Park trip w/1 year old infant
Replies: 35
Views: 1897

Re: National Park trip w/1 year old infant

Thanks all for those who've responded (and please keep them coming!). Yellowstone and Yosemite are near the very, very top of my must-see list, which would lean me toward wanting to go there no matter what. On the other hand, I feel those trips are so big that I'd want to do them with absolutely no...
by Carefreeap
Wed Nov 29, 2017 11:12 am
Forum: Personal Consumer Issues
Topic: What are the things you want to do between 55 and 65?
Replies: 140
Views: 10563

Re: What are the things you want to do between 55 and 65?

For me it's getting in as much hiking I can while my knees last. Last year for my 55th birthday I solo backpacked the John Muir Trail. This past September I hiked the Western half of the Tahoe Rim Trail and I'm planning on hiking the other half next September. Today I hiked a tiny section of the Pa...
by Carefreeap
Tue Nov 28, 2017 7:19 pm
Forum: Personal Consumer Issues
Topic: What are the things you want to do between 55 and 65?
Replies: 140
Views: 10563

Re: What are the things you want to do between 55 and 65?

For me it's getting in as much hiking I can while my knees last. Last year for my 55th birthday I solo backpacked the John Muir Trail. This past September I hiked the Western half of the Tahoe Rim Trail and I'm planning on hiking the other half next September. Today I hiked a tiny section of the Pac...
by Carefreeap
Tue Nov 28, 2017 7:10 pm
Forum: Personal Consumer Issues
Topic: What are the things you want to do between 55 and 65?
Replies: 140
Views: 10563

Re: What are the things you want to do between 55 and 65?

I have a bucket list of hikes/treks I want to go on - most of them are fairly challenging (at least for me). Usually I can do once a year. If my knees support me I have 10 years in the best case. But most likely I have 3-5 years. Exactly same for me. I'm 59 and at the top of this list are: New Zeal...
by Carefreeap
Tue Nov 28, 2017 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Independent Trustee Actively Managing Trust Account
Replies: 96
Views: 4370

Re: Independent Trustee Actively Managing Trust Account

If you were meant to have control of the trust assets the testator would have left them to you outright. The trust was established for good reason by the decedent and the trustee is being compensated a very normal trustee’s fee. You have no authority to direct investment of the trust. Quite likely ...
by Carefreeap
Mon Nov 27, 2017 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Independent Trustee Actively Managing Trust Account
Replies: 96
Views: 4370

Re: Independent Trustee Actively Managing Trust Account

To the OP: what are the distribution ages and how old are you? 25 distribute 1/3, 35 distribute 1/2, 45 distribute remaining. Younger than 25. Maybe it depends on whether the same two non-independent trustees are also the trustees for the other trusts. Same for other trusts. Also, OP said this is a...
by Carefreeap
Mon Nov 27, 2017 7:58 pm
Forum: Personal Consumer Issues
Topic: National Park trip w/1 year old infant
Replies: 35
Views: 1897

Re: National Park trip w/1 year old infant

There's nothing wrong with your original idea. There are shorter hikes in Yosemite including making it to Vernal Falls (all paved) around the Valley floor (much of that is actually bikeable) and depending on what time of year Glacier Point and parts of Tuolumne Meadows. You can read more about the h...
by Carefreeap
Mon Nov 27, 2017 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Independent Trustee Actively Managing Trust Account
Replies: 96
Views: 4370

Re: Independent Trustee Actively Managing Trust Account

I share the puzzlement at mandating an independent trustee for a trust that will distribute all the assets. The independent requirement protects the assets but that protection ends when the funds come out. :happy Sounds like a spendthrift protection. DH would have had the same situation had his fat...
by Carefreeap
Mon Nov 27, 2017 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Independent Trustee Actively Managing Trust Account
Replies: 96
Views: 4370

Re: Independent Trustee Actively Managing Trust Account

In the last statement I counted 34 holdings including individual stocks and two bond funds. As I stated previously, I do not need or want this level of active management; I want 100% VTSAX without the trustee active management fee. You can manage your own money any way you want. This money doesn't ...
by Carefreeap
Sat Nov 25, 2017 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Any need for professional tax preparer?
Replies: 14
Views: 1468

Re: Any need for professional tax preparer?

I think it's a good idea to hire one periodically if for no other reason than to double-check your work. I hired one once we started accumulating rental properties. As we've started the disposal process, she has been invaluable. Along the way we've gotten some great advice. Because she was a referra...
by Carefreeap
Sun Nov 19, 2017 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Do any of you maintain your own charitable foundations?
Replies: 5
Views: 774

Re: Do any of you maintain your own charitable foundations?

My MIL wants us to set up a pet foundation with a portion of her money. It's too little in my opinion to justify the operating costs (staff, incorporation, et cetera). We're only talking about a $100k at most. In my opinion the money would be better left in a Trust with discretion to the Trustee of ...
by Carefreeap
Tue Nov 14, 2017 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Personal letters to the sellers of your house can work!!!
Replies: 72
Views: 7489

Re: Personal letters to the sellers of your house can work!!!

I wonder of accepting a lower offer based on the letter could leave the seller and selling agent open to a discrimination lawsuit. I'm sure someone will try it. But It's an offer to sell not a guarantee of sale. You would have to prove that that the seller discriminated against the higher offer bas...
by Carefreeap
Mon Nov 13, 2017 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a home mortgage without spouse?
Replies: 43
Views: 2762

Re: Getting a home mortgage without spouse?

Even though married four decades (same wife), I am no marital relationhip "expert". Just my opinion of how this might be perceived by the wife. She might "hear" or "perceive": You see, dear, that I have this really high credit score - but yours (in the low 700's) is so inferior to mine because you ...
by Carefreeap
Mon Nov 13, 2017 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a home mortgage without spouse?
Replies: 43
Views: 2762

Re: Getting a home mortgage without spouse?

My wife and I are planning to buy a home in the next several (let's say 1-4) years, planning to put 20% down. ... I just learned on this forum that one can get a home mortgage for a primary residence without one's spouse. Additionally, both names could be on the deed (this is essential as my wife i...
by Carefreeap
Mon Nov 13, 2017 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Invest all my savings in a house?
Replies: 10
Views: 1299

Re: Invest all my savings in a house?

Hi there, As a 25 year old I am considering buying a house with my girlfriend. Therefore I was just wondering what your point of view is on this. Combined I have about 50K that I can invest in the house. 25K of this are in actively managed funds (my parents managed my money before I turned 18 :oops...
by Carefreeap
Mon Nov 13, 2017 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Getting a home mortgage without spouse?
Replies: 43
Views: 2762

Re: Getting a home mortgage without spouse?

I just wanted to chime in on the importance of getting both of you on the deed. When we lived in Canada, the lender wouldn't let my (homemaker) spouse on the mortgage and our agent incorrectly informed us that this meant my wife couldn't be on the deed. Once we learned she could (and should) be on ...
by Carefreeap
Mon Nov 13, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Getting a home mortgage without spouse?
Replies: 43
Views: 2762

Re: Getting a home mortgage without spouse?

I just learned on this forum that one can get a home mortgage for a primary residence without one's spouse. Additionally, both names could be on the deed (this is essential as my wife is not yet a US citizen, and I understand that gift taxes would come into play for amounts larger than ~140-150k fo...
by Carefreeap
Sun Nov 12, 2017 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a home mortgage without spouse?
Replies: 43
Views: 2762

Re: Getting a home mortgage without spouse?

I think your scores are good enough to get the best rate especially if you are talking about a year or two. Credit length will increase bumping her score a bit. From what I've read recently the rates don't get better after 740. With your combined scores, extra income and 20% down you'll be fine. It'...
by Carefreeap
Sun Nov 12, 2017 11:42 am
Forum: Personal Finance (Not Investing)
Topic: How to deal with a deceased relative from long distance
Replies: 12
Views: 1463

Re: How to deal with a deceased relative from long distance

This is a tough subject for me, but I’m completely at a loss as to how to handle this. A close family member of mine is getting pretty old. She already had one stroke not long ago. I fear she will probably not be around much longer. Though we are closely related, we have never gotten along well at ...
by Carefreeap
Sat Nov 11, 2017 12:15 pm
Forum: Personal Consumer Issues
Topic: Thoughts about wearing a "uniform"/same thing everyday?
Replies: 140
Views: 9406

Re: Thouhgts about wearing a "uniform"/same thing everyday?

Your clothing is your personal brand. Something to be said for consistency (marketing person here). As a female, this feels wrong. But males have it a bit less intense in the wardrobe department. I would change it up a bit. You don't need to go beyond the basics, but show a touch of creativity. Be ...
by Carefreeap
Sat Nov 11, 2017 11:38 am
Forum: Personal Consumer Issues
Topic: Do you meditate?
Replies: 117
Views: 7866

Re: Do you meditate?

Yes. 40 years. Constant. Teach and practice. Static, moving, daily mindfulness, etc. j :D What is daily mindfulness. Taking the "presence" of seated meditation progressively into daily life such that the benefits of meditation become dynamic and ongoing. The generic basic seated meditation might, f...
by Carefreeap
Sat Nov 11, 2017 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Personal letters to the sellers of your house can work!!!
Replies: 72
Views: 7489

Re: Personal letters to the sellers of your house can work!!!

This sounds like it’s a California market and as someone from Texas I still can’t get it. I wouldn’t even offer more than the Zillow estimate much less more than asking price. I agree with others that this feels eerily similar to pre 2008. Maybe the new norm will be for housing to go through booms ...
by Carefreeap
Wed Nov 08, 2017 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Advice/referral: expate tax preparation
Replies: 1
Views: 179

Re: Advice/referral: expate tax preparation

KPMG prepared both our German and US returns as well as returns for CA and AZ. The company paid for it and I'm sure they are not cheap.
by Carefreeap
Mon Nov 06, 2017 3:57 pm
Forum: Personal Consumer Issues
Topic: Retirement in Arizona - Seeking Advice
Replies: 73
Views: 8786

Re: Retirement in Arizona - Seeking Advice

. The weather is great all winter but really really hot for 5 months every summer. And I mean HOT. Think blistering oven hot and with global warming it is getting hotter. But it is a dry heat. So everyone wears shorts even to work. We all have AC in our cars and homes and we move from house to car ...
by Carefreeap
Sat Nov 04, 2017 10:45 am
Forum: Personal Consumer Issues
Topic: Going to SF, Yosemite and Sacramento and NOW PORTLAND
Replies: 49
Views: 2447

Re: Going to SF, Yosemite and Sacramento and NOW PORTLAND

Tioga Pass in Yosemite is closed due to our 2nd snowstorm of the season.

I would not plan on driving between Portland and San Francisco in November either. Beautiful in the late spring and summer but hazardous in the winter.
by Carefreeap
Fri Nov 03, 2017 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: What so scary about TSP loans?
Replies: 23
Views: 1828

Re: What so scary about TSP loans?

LTLurkerFTPoster... I'm buying a new house. Depending on some possible concessions and whether I go for negative points, I'm likely going to be about 10-20K short of 20% down. I have a couple options. I could get a gift from folks or inlaws. Take the free money! They are rarely free. And expect it ...
by Carefreeap
Fri Nov 03, 2017 10:21 am
Forum: Personal Finance (Not Investing)
Topic: What so scary about TSP loans?
Replies: 23
Views: 1828

Re: What so scary about TSP loans?

I think it can be a good tool for some. The real problem is for folks who are chronically borrowing from their retirement accounts. It generally indicates that they are living beyond their means. My family is like this and I have seen how it doesn't work out. If you're an otherwise financially disci...
by Carefreeap
Fri Nov 03, 2017 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Heggstad petition question
Replies: 6
Views: 743

Re: Heggstad petition question

OP Here. Yes. Luckily all the properties were listed on the Schedule of Assets so we can clearly show intent. I'm just confused as to why a Heggstad petition is recommended instead of filing an affidavit of death and simply taking the properties as a joint tenant outside the trust. Is it because it...
by Carefreeap
Thu Nov 02, 2017 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Holding a mortgage for someone else - options?
Replies: 35
Views: 2345

Re: Holding a mortgage for someone else - options?

Looking for information regarding hiring a lawyer to help us write up the loan & handle the deed. What questions should I be asking??? The loan is for a mobile home, so while it's not a lot of money, it's also not an investment for us. It's solely to help a family member with housing. Real estate a...
by Carefreeap
Wed Nov 01, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Heggstad petition question
Replies: 6
Views: 743

Re: Heggstad petition question

OP Here. Yes. Luckily all the properties were listed on the Schedule of Assets so we can clearly show intent. I'm just confused as to why a Heggstad petition is recommended instead of filing an affidavit of death and simply taking the properties as a joint tenant outside the trust. Is it because it...