Search found 59 matches

by Ben10
Mon Sep 13, 2021 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Finding an Estate Attorney
Replies: 13
Views: 1768

Re: Finding an Estate Attorney

Some state bars like Florida (and Texas?) certify lawyers as specialists in wills, trusts and estates.
by Ben10
Mon Mar 08, 2021 8:45 am
Forum: Personal Investments
Topic: To backdoor Roth or not to backdoor Roth
Replies: 16
Views: 2261

Re: To backdoor Roth or not to backdoor Roth

That's great. So, for 2020, I can accomplish the trad IRA funding and Roth conversion before April 15, and then I can do the same thing prior to April 15 of next year?
by Ben10
Sun Mar 07, 2021 7:41 pm
Forum: Personal Investments
Topic: To backdoor Roth or not to backdoor Roth
Replies: 16
Views: 2261

Re: To backdoor Roth or not to backdoor Roth

I have a traditional IRA which I don't want to roll over to a Roth or roll into my high-fee 401k at work. Can I set up a backdoor Roth IRA for my wife without triggering pro rata tax rules on my IRA?
by Ben10
Mon Nov 25, 2019 6:13 am
Forum: Personal Finance (Not Investing)
Topic: Am I Obligated To Pay Attorney Bill?
Replies: 85
Views: 7843

Re: Am I Obligated To Pay Attorney Bill?

If you seek legal advice from an attorney, and received advice, you should expect to (and should, in fact) pay for it.
by Ben10
Thu Jun 27, 2019 6:55 am
Forum: Personal Investments
Topic: I Inherited a Trust, Please Help Me Find A Trustee
Replies: 12
Views: 2161

Re: I Inherited a Trust, Please Help Me Find A Trustee

Corporate trustees generally don't want to oversee investment real estate. You should consult with an experienced trust and estate attorney. There may be a way to modify the trust to eliminate the requirement of having a corporate trustee or to substitute an "independent trustee" which may be an individual and not a corporation. This would generally require the consent (or at least notice to) all potential beneficiaries (current and future), and may or may not require court approval, depending on governing law.
by Ben10
Fri May 10, 2019 6:47 am
Forum: Personal Finance (Not Investing)
Topic: Title search and insurance
Replies: 14
Views: 1487

Re: Title search and insurance

In Florida, title insurance rates are promulgated, meaning set by the state. Your other charges include documentary stamp tax (usually paid by the seller), title search fee, and document preparation. This is all pretty standard stuff, especially since this is a transaction with a related person. Just find a local title insurance agent.
by Ben10
Wed Jan 16, 2019 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Owned By Revocable Living Trust
Replies: 15
Views: 1699

Re: Auto Owned By Revocable Living Trust

We live in Florida and when we established my mom's irrevocable grantor trust the attorney told us not to place the car inside the trust as it would expose the remainder of the trust assets to legal claim in case an accident involving the car occurred. Cheers You refer to an irrevocable grantor trust, which is an entirely different animal than a revocable living trust. Transferring title of your car to an irrevocable trust created by you could expose the trust to liability and thereby harm the interests of the trust beneficiaries. I never claimed that it was the same thing which is why I explicitly identified the type of trust. I considered it to be a data point that might be of value to someone. Cheers And that distinction makes all the d...
by Ben10
Wed Jan 16, 2019 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Owned By Revocable Living Trust
Replies: 15
Views: 1699

Re: Auto Owned By Revocable Living Trust

Silk McCue wrote: Wed Jan 16, 2019 2:38 pm We live in Florida and when we established my mom's irrevocable grantor trust the attorney told us not to place the car inside the trust as it would expose the remainder of the trust assets to legal claim in case an accident involving the car occurred.

Cheers
You refer to an irrevocable grantor trust, which is an entirely different animal than a revocable living trust. Transferring title of your car to an irrevocable trust created by you could expose the trust to liability and thereby harm the interests of the trust beneficiaries.
by Ben10
Sun Jan 13, 2019 8:56 am
Forum: Personal Consumer Issues
Topic: Duffel Bag vs Wheeled Stand Up traveling
Replies: 78
Views: 6066

Re: Duffel Bag vs Wheeled Stand Up traveling

In the past year I replaced my roller carry on suitcase with a medium sized canvas duffel bag. I've used the duffel bag for continental and international travel. The main advantage is the flexibility of the bag, as another poster stated, it's easy to squeeze into an overhead compartment. On the downside is the weight of a packed bag. I always try to pack light, so it's worked pretty well for me.
by Ben10
Mon Jan 07, 2019 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Is it appropriate to take deduction for donating items belonging to deceased?
Replies: 8
Views: 1243

Re: Is it appropriate to take deduction for donating items belonging to deceased?

The estate can only take a charitable deduction if the will provides for a gift to charity, e.g., "I leave my clothing and furniture to The Salvation Army."

If the will provides for outright distribution to the beneficiaries, the executor should distribute the items from the estate to the beneficiaries, who can then make the charitable donations, and take the deduction on their own 1040s.
by Ben10
Tue Oct 16, 2018 6:58 pm
Forum: Personal Consumer Issues
Topic: Last Will and Testament Question
Replies: 9
Views: 1288

Re: Last Will and Testament Question

Prudence wrote: Tue Oct 16, 2018 11:13 am Accounts with beneficiaries (including TOD/POD) will not go into the estate, right? They pass immediately to the named beneficiary, right?
Yes, assuming beneficiary survives you. Make sure you name a contingent beneficiary as well.
by Ben10
Tue Oct 16, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Elder care tax question(s)
Replies: 32
Views: 3155

Re: Elder care tax question(s)

CRTR wrote: Tue Oct 09, 2018 3:59 pm
4. I own a rental property in Idaho. If I sign the title over to her (and file a gift tax return), the existing adjusted basis carries over to her (FMV ~$650k, ~$150K depreciation recapture, purchase price + improvements ~$410K). When she dies, I will inherit the property back and receive a step-up in basis to FMV at her DOD? (I'm her only heir).

If she dies within a year of the transfer you will get a carryover basis in the property, not a step-up. That is, assuming the property gets back to you.
by Ben10
Mon Sep 03, 2018 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity Rewards Visa Card
Replies: 86
Views: 16223

Re: Fidelity Rewards Visa Card

I've had this card for a couple of years. Rewards go to Fidelity 529 account for my kid. This seems like one of the better (if not the best) reward cards.
by Ben10
Mon Sep 03, 2018 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Old trusts and step up in basis
Replies: 10
Views: 1078

Re: Old trusts and step up in basis

As stated above, the trust may include a general power of appointment in the surviving spouse, subjecting the assets subject to the power to inclusion in the powerholder's estate, resulting in a step-up in basis for the remainder beneficiaries.

There are other sophisticated basis-planning techniques. For instance, if there is no general power of appointment, the surviving spouse may be able to exchange his/her own high basis assets for low basis trust assets, which would be included in the survivor's estate, resulting in a basis step-up at his/her death.
by Ben10
Sun Sep 02, 2018 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Durable Power of Attorney: Implementation Report
Replies: 79
Views: 9301

Re: Durable Power of Attorney: Implementation Report

I'll answer for 2015, "yes." This is referred to as "poor man's estate planning;" hold assets to avoid probate/guardianship but make them subject to child's potential creditors/divorce, etc. If I represent mom I am suggesting a more robust plan. Thanks for attempting to be my mouthpiece, but your projections are invalid. I recommend engaging in second stage thinking before responding, which would include asking questions to clarify (as FireChief did) versus simply expressing opinions (which happens frequently on this board). I have no debts (and hence no creditors), am single and hence no divorce or other entanglements of any kind, and have sufficient insurances to insure against deep risk (i.e., litigation). When I eng...
by Ben10
Sat Sep 01, 2018 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Durable Power of Attorney: Implementation Report
Replies: 79
Views: 9301

Re: Durable Power of Attorney: Implementation Report

I didn't have to go through any of this nonsense. I became joint owner on all accounts, which helped tremendously both during my relative's incapacitation before death but also after death once I became executor. Caveat: it was a small estate with no real property. If you had been sued, wouldn't this have put your relative's assets at risk? I'll answer for 2015, "yes." This is referred to as "poor man's estate planning;" hold assets to avoid probate/guardianship but make them subject to child's potential creditors/divorce, etc. If I represent mom I am suggesting a more robust plan. Thanks for attempting to be my mouthpiece, but your projections are invalid. I recommend engaging in second stage thinking before responding...
by Ben10
Fri Aug 31, 2018 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Durable Power of Attorney: Implementation Report
Replies: 79
Views: 9301

Re: Durable Power of Attorney: Implementation Report

FIREchief wrote: Fri Aug 31, 2018 5:00 pm
2015 wrote: Fri Aug 31, 2018 12:33 pm I didn't have to go through any of this nonsense. I became joint owner on all accounts, which helped tremendously both during my relative's incapacitation before death but also after death once I became executor. Caveat: it was a small estate with no real property.
If you had been sued, wouldn't this have put your relative's assets at risk?
I'll answer for 2015, "yes." This is referred to as "poor man's estate planning;" hold assets to avoid probate/guardianship but make them subject to child's potential creditors/divorce, etc. If I represent mom I am suggesting a more robust plan.
by Ben10
Fri Aug 31, 2018 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Durable Power of Attorney: Implementation Report
Replies: 79
Views: 9301

Re: Durable Power of Attorney: Implementation Report

Lesson: POAs are an important part of an estate plan, but having non-qualified accounts and other assets in trust generally allows much easier handoff of control to fiduciary in the event of one's incapacity, insofar as dealing with financial institutions.
by Ben10
Sun Aug 26, 2018 7:15 am
Forum: Personal Finance (Not Investing)
Topic: What is your stealth way to save monthly?
Replies: 87
Views: 11889

Re: What is your stealth way to save monthly?

Beside maxing out 401k:

1. Recently purchased used car for cash after lease ended. I am putting away the old monthly payment amount into a separate savings account to buy the next used car when SO's lease expires

2. Move small amount daily into investment account to purchase total market index fund.

3. Move small daily amount into savings account for future purchases (e.g, home repairs, family trip, etc.)
by Ben10
Sun Aug 19, 2018 11:56 am
Forum: Personal Consumer Issues
Topic: Where to stay in St. Augustine?
Replies: 8
Views: 1380

Re: Where to stay in St. Augustine?

There are a lot of nice B&Bs in Old St. Augustine. If I remember correctly, my wife and I stayed at South Winds B&B many years ago.
by Ben10
Sat Aug 18, 2018 7:30 am
Forum: Personal Finance (Not Investing)
Topic: One more reason for Fidelity Visa
Replies: 15
Views: 3969

Re: One more reason for Fidelity Visa

THIS:
47Percent wrote: Fri Aug 17, 2018 1:00 pm The 2% unlimited cash back is great and hard to beat
by Ben10
Sat Aug 18, 2018 7:26 am
Forum: Personal Finance (Not Investing)
Topic: A question of trust
Replies: 3
Views: 597

Re: A question of trust

Qualified plans are non-probate assets that pass pursuant to beneficiary designation. So a revocable trust is not required for that purpose.

In addition, only an individual can own qualified accounts. A trust may be named as beneficiary of qualified accounts, if that is part of the estate plan, but the post-death determination of "designated beneficiaries" and RMDs is very complicated and requires the advice of an experienced attorney.
by Ben10
Thu Aug 16, 2018 6:24 am
Forum: Personal Consumer Issues
Topic: Men’s Underwear recommendation
Replies: 67
Views: 9421

Re: Men’s Underwear recommendation

Rexindex wrote: Wed Aug 15, 2018 4:24 pm I found the Nordstrom brand to wear fairly well but they are expensive.
Look for Nordstrom sales in July and December.
by Ben10
Thu Aug 16, 2018 6:20 am
Forum: Personal Finance (Not Investing)
Topic: What do you do with your interest from your ER fund?
Replies: 10
Views: 1266

Re: What do you do with your interest from your ER fund?

My second-tier EF is in an online savings account. I've just kept the interest in the account for the past couple of years since I established the account. But I was thinking of adding the interest to an index fund account, which probably makes more sense.
by Ben10
Thu Aug 09, 2018 6:50 am
Forum: Personal Finance (Not Investing)
Topic: Regarding FIRE
Replies: 10
Views: 1343

Re: Regarding FIRE

I believe it is based on liquid assets - those you will draw against for next x number of years.
by Ben10
Tue Aug 07, 2018 2:08 pm
Forum: Personal Consumer Issues
Topic: Grind and Brew Coffee Makers - worth it?
Replies: 39
Views: 5360

Re: Grind and Brew Coffee Makers - worth it?

I tend to dislike machines that create unnecessary material waste, i.e., Keurig and Nespresso. I am interested in an automatic espresso type machine, like the Jura J8, I guess. A question for those users: do those machines make a cup of regular joe, in addition to the lattes, capuccinos, etc.?
by Ben10
Thu Aug 02, 2018 5:12 pm
Forum: Personal Investments
Topic: What to do with extra money
Replies: 3
Views: 426

Re: What to do with extra money

soccerrules wrote: Thu Aug 02, 2018 5:08 pm I would #2 first ($11,000)
Then take remaining and split 50/50 with student loans($7,000) and car savings ($7,000).
I would not be making extra mortgage payments until you have paid off student loans and maxed our 401K/IRA's
That's excellent! Thank you. :D
by Ben10
Thu Aug 02, 2018 4:57 pm
Forum: Personal Investments
Topic: What to do with extra money
Replies: 3
Views: 426

What to do with extra money

This year has been a bit more successful financially than past years. I am considering several ways in which to allocate these excess funds - let's call it $25,000 net. I am close to maxing out my 401(k), and my income is beyond the point at which I can contribute to an IRA for my spouse. My proposed use of the extra funds includes: 1. Pay down remaining school loans (4% interest) - for a guaranteed return. 2. Contribute to a backdoor Roth IRA - not deductible, but will add to my portfolio (one for me and one for my spouse?). 3. Hold funds in online savings account (1.75%) to fund purchase of late model used car when my lease is up in year and a half - furthering my goal of eliminating car payments 4. Make extra mortgage payments (3.75%) - ...
by Ben10
Mon Jul 23, 2018 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Location Independent (Nomad) Will
Replies: 20
Views: 2088

Re: Location Independent (Nomad) Will

(1) create a revocable trust which names beneficiaries upon your death;
(2) fund the trust by titling your assets to the trust;
(3) make a last will and testament that “pours over” any estate assets to your trust.

A good estate planning lawyer can advise and assist with the foregoing.
by Ben10
Sat Jul 14, 2018 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Living Revocable Trust - conveyance of assets
Replies: 37
Views: 3312

Re: Living Revocable Trust - conveyance of assets

afan wrote: Fri Jul 13, 2018 4:36 pm For most of your assets retitling is so easy it would be silly to pay someone to do it.
When left to fund their own trusts, most will either not do it or will do it incorrectly.
by Ben10
Thu Jun 28, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Adding a trust to your homeowner's policy
Replies: 64
Views: 9828

Re: Adding a trust to your homeowner's policy

Add your trust as an alternate payee under the policy. Is "alternate payee" the same as "alternate insured"? What does it actually mean? For example, just to wander afield a bit, what happens with a claim payment if the insurance has person A as the insured and person B as an alternate insured/alternate payee? The thinking is as follows: if person A is living when a claim is paid, the claim will be paid to person A. If person A is deceased, the claim will be paid to the alternate payee - in this case, the Trust. I think the concern is liability claims not insurance payouts to the insured The original poster said his home is in trust (which I assume is revocable). Generally the concern with a revocable trust is getting a...
by Ben10
Thu Jun 28, 2018 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: What's in your ADP 401(k)?
Replies: 22
Views: 4345

Re: What's in your ADP 401(k)?

I've been able to duplicate a Total Market Fund in my ADP 401(k), I think, with an S&P 500 index, a Midcap index and a Small Cap index. The offerings in my plan are extremely slim. ADP recently reduced the expense ratios on the available funds, which were high to begin with.
by Ben10
Thu Jun 28, 2018 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: Adding a trust to your homeowner's policy
Replies: 64
Views: 9828

Re: Adding a trust to your homeowner's policy

mouses wrote: Mon Jun 25, 2018 5:52 am
Ben10 wrote: Mon Jun 25, 2018 5:40 am Add your trust as an alternate payee under the policy.
Is "alternate payee" the same as "alternate insured"? What does it actually mean? For example, just to wander afield a bit, what happens with a claim payment if the insurance has person A as the insured and person B as an alternate insured/alternate payee?
The thinking is as follows: if person A is living when a claim is paid, the claim will be paid to person A. If person A is deceased, the claim will be paid to the alternate payee - in this case, the Trust.
by Ben10
Mon Jun 25, 2018 5:40 am
Forum: Personal Finance (Not Investing)
Topic: Adding a trust to your homeowner's policy
Replies: 64
Views: 9828

Re: Adding a trust to your homeowner's policy

Add your trust as an alternate payee under the policy.
by Ben10
Wed Jun 20, 2018 6:59 am
Forum: Personal Consumer Issues
Topic: Help Buying Mens Shoes for Work and Dating
Replies: 97
Views: 12238

Re: Help Buying Mens Shoes for Work and Dating

You can't go wrong with Allen Edmonds for work. They are high-quality and will last for years. I own 3 pairs (black, brown and burgundy), but I wear dress slacks/suit every day of the week.

As for jeans (and khakis), I just started wearing brown Clark's chukka books and love them. Easy on and off (for TSA checkpoints), fashionable and comfortable.
by Ben10
Sat Jun 02, 2018 6:20 am
Forum: Personal Consumer Issues
Topic: Safeco Auto Insurance
Replies: 15
Views: 2338

Re: Safeco Auto Insurance

I've had our family's car insurance policy through Safeco for past several years, offered by my insurance agent. I have not had a claim so I can't speak in that regard, but they are happy to take my money.
by Ben10
Sun May 20, 2018 9:11 am
Forum: Personal Investments
Topic: $1,700,000 from family trust...
Replies: 83
Views: 13527

Re: $1,700,000 from family trust...

Putting your inheritance into a joint account with your wife will probably be a conversion of separate property to marital property, which could cost you in the event of a divorce. There are legal, as well as financial, considerations.
by Ben10
Sun Apr 29, 2018 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Help defining needs for Will / Estate plan
Replies: 17
Views: 1829

Re: Help defining needs for Will / Estate plan

Estate planning for parents of minor children has some complexities, including coordinating beneficiary designations with the plan (i.e., properly funding testamentary trust), providing for guardians (of person and property), and coordinating guardians/trustees duties to manage money and make sure distributions are available and provided for children's needs. A good estate planning attorney will have knowledge of the laws of wills and trusts, tax law, asset protection, divorce and family law, and guardianship law, among other things. There are plenty of things one can do for oneself, but just because you can doesn't mean you should. Estate planning has become commoditized due to the rise of DIY outfits like Legalzoom. However, when you hire...
by Ben10
Sun Apr 02, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Will vs Living Trust
Replies: 59
Views: 8964

Re: Will vs Living Trust

Guardyourheart wrote: I have avoided going to an estate lawyer because I think I can do this myself and I'm a penny pincher.
Wow! :shock: That is an amazing quote. You're taking this BH "do-it-yourself" stuff too seriously. A good estate planning attorney is experienced in reviewing your asset ownership, considering your goals, taking into account taxes and other costs, and recommending and implementing an appropriate plan. You are obviously not too concerned with making things easy for your wife or you wouldn't be so foolish about seeking the advice of a professional.
by Ben10
Sun Apr 02, 2017 12:41 pm
Forum: Personal Consumer Issues
Topic: What to see in Philly?
Replies: 87
Views: 8457

Re: What to see in Philly?

Hockey10 wrote:Independence Hall and the Liberty Bell. That is where our country got started and is definitely worth a visit.
I agree with Hockey10, this is a no-brainer for Independence Hall and Liberty Bell with only a few hours to visit. Grab lunch at nearby Reading Terminal Market if you can.
by Ben10
Thu Aug 25, 2016 3:16 pm
Forum: Personal Consumer Issues
Topic: Office Chair
Replies: 36
Views: 5470

Re: Office Chair

Gently used Herman Miller Aeron chair on Ebay!
by Ben10
Wed Aug 24, 2016 1:20 pm
Forum: Personal Consumer Issues
Topic: Journal of my recent ride through Southern Italy and Sicily
Replies: 12
Views: 1872

Re: Journal of my recent ride through Southern Italy and Sicily

Wow, thanks for sharing. That looks like it was an amazing adventure.
by Ben10
Sat Aug 13, 2016 1:40 pm
Forum: Personal Consumer Issues
Topic: Advice about a stop in Chicago
Replies: 52
Views: 7776

Re: Advice about a stop in Chicago

Just came back from Chi-town. Beautiful weather this time of year. Took train from airport - very easy and cheap. Uber or walked everywhere else. Don't miss the architectural boat tour and the Art Institute.
by Ben10
Fri May 13, 2016 11:23 am
Forum: Personal Finance (Not Investing)
Topic: More Americans over 65 are working
Replies: 7
Views: 1481

Re: More Americans over 65 are working

I would have guessed the percentage to be higher than that. Who can afford to retire?!
by Ben10
Wed May 04, 2016 9:59 am
Forum: Investing - Theory, News & General
Topic: "MetLife to Pay $25 Million"
Replies: 13
Views: 2880

Re: "MetLife to Pay $25 Million"

Seems like a small price to pay, a drop in the bucket for MetLife. Just another cost of doing business.
by Ben10
Sun Apr 24, 2016 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Book Recommendation Needed -- Trusts & Estates
Replies: 6
Views: 1245

Re: Book Recommendation Needed -- Trusts & Estates

Like everything else, estate planning ranges from the simple to the complex, depending on each client's specific circumstances. The issues involved may include planning for disability; avoidance of court-administered guardianship; appointing guardians for minor children; end-of-life issues; probate avoidance; ancillary administration avoidance; income tax planning; estate, gift and generation-skipping tax planning; asset protection planning for client; creditor protection for beneficiaries; long-term care (Medicaid) planning; pre-divorce planning, real estate investment structuring; form of business ownership and exit strategies; etc. It certainly makes sense to be educated. I tried to educate myself as best I could about several surgeries ...
by Ben10
Mon Apr 18, 2016 9:52 am
Forum: US Chapters
Topic: South Florida Local Chapter
Replies: 628
Views: 213427

Re: Southeast Florida Local Chapter

Taylor Larimore wrote:Bogleheads:

I will be pleased to offer my Miami condo as a meeting place for South Florida Bogleheads and pay for a lunch. I hope others will do the organizing.

Best wishes.
Taylor
That is very generous. I hope we can make this happen.
by Ben10
Sun Apr 17, 2016 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: HELP! HR Doesn't Believe in Index Funds for 401k
Replies: 64
Views: 8542

Re: HELP! HR Doesn't Believe in Index Funds for 401k

That is terrible situation. My small company (of which I'm a part owner) recently established a 401(k), quite hastily, I might add. We have several index funds, but all have expense ratios of .97%. I know the same funds are available for .05 - .20 at Fidelity or Vanguard. Needless to say, I've spoken to my partners, and at the first opportunity we will look to move our plan to one with more competitive fees. I would never have thought about any of this were it not for my finding the Bogleheads!

I hope you find a solution to your situation. Perhaps, you can ask other employees to sign a petition to add index funds.
by Ben10
Sun Apr 17, 2016 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Need A Trust Company
Replies: 20
Views: 3691

Re: Need A Trust Company

It is not uncommon for a corporate trustee to decline to act with respect to assets other than cash/securities - e.g., real estate or business. One other poster was correct in that you can appoint your CPA or someone else as "special trustee" to sell the real property. The sale proceeds will be paid to the trust and then managed by corporate trustee with the other trust assets.
by Ben10
Sun Apr 17, 2016 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Postnuptial agreement for Physician
Replies: 94
Views: 12105

Re: Postnuptial agreement for Physician

One way to bring it up with her is to tell her that if you don't have a marital agreement, the state in which you reside will make one for you, in the form of laws regarding distribution of assets and alimony, etc., upon divorce. You and your wife can make an agreement which you both deem fair, rather then assuming that your state legislature has your best interests in mind. If your wife is agreeable, you should see an attorney and have him/her prepare a draft agreement based on your discussions with your wife. Your wife should have her own lawyer and you and she can negotiate any sticking points. Then forget about it and move on with your life.