Search found 2799 matches

by FIREchief
Sun Apr 21, 2019 12:19 am
Forum: Personal Finance (Not Investing)
Topic: Easy to use legal zoom for revocable trust?
Replies: 6
Views: 822

Re: Easy to use legal zoom for revocable trust?

Just to be clear.... Avoiding probate may not be a big deal. We need to think about what our remaining non-POD assets/liabilities will be and decide if we will need somebody to have access to liquid assets to address them. A house is a great example of where this may be necessary. No house or other ...
by FIREchief
Sun Apr 21, 2019 12:14 am
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

From the little I've heard from talking to friends and family about settling estates, I'd guess that most estates are settled sloppily and inefficiently because most of the work is done by people that haven't done it before and don't have the skills or interest to do a lot of research. Many of them...
by FIREchief
Sun Apr 21, 2019 12:10 am
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

This is a good discussion. It comes up occasionally on the forum, but not often enough. The executor has the legal responsibility of acting in the best interest of all parties with a claim to the estate. When the parties have no interest in maximizing financial value, but rather have an interest in...
by FIREchief
Sat Apr 20, 2019 2:20 pm
Forum: Personal Investments
Topic: TIPS in HSA
Replies: 4
Views: 431

Re: TIPS in HSA

I am building a TIPS ladder in my HSA to match Medicare premiums (parts B and D) when I turn 65. Those are known future liabilities that I will use HSA funds to pay. Remaining funds are invested in TMI.
by FIREchief
Fri Apr 19, 2019 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

well, ya have to go thru it as you may need to find financial statements, records etc. to close the estate. Prob easier to die broke I guess. Depends on 'clutter' as well. One mans trash.....is another mans aroma. :wink: This is avoidable. A) never accept an appointment as executor unless B) it is ...
by FIREchief
Fri Apr 19, 2019 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: What I don’t understand about Donor Advised Funds...
Replies: 54
Views: 3940

Re: What I don’t understand about Donor Advised Funds...

mchampse wrote:
Fri Apr 19, 2019 12:18 am
I could see using a DAF or foundation if you have $1M to give, but not for someone with 100s or 1000s to give.
Foundation? Sure. DAF? I disagree. A DAF with low minimum contributions/grants can be useful for anybody who donates to charity.
by FIREchief
Fri Apr 19, 2019 1:52 pm
Forum: Investing - Theory, News & General
Topic: This could be the biggest risk that retirees face?
Replies: 117
Views: 8035

Re: This could be the biggest risk that retirees face?

Kenkat wrote:
Thu Apr 18, 2019 8:05 pm
Dying young does not seem like a good risk mitigation strategy.
I really all depends upon what is on the other side.
by FIREchief
Fri Apr 19, 2019 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: What percentage will I keep when I sell my home?
Replies: 20
Views: 1396

Re: What percentage will I keep when I sell my home?

Realtor fees - Most of the realtors I have researched are no longer charging 6% (3/3 split), but usually around 4.5%. In my area, they are still 6% (used to be 7%). Other than the on-line listing services, I haven't seen anything close to 4.5%. Do you actually have local B&M listing brokerages that...
by FIREchief
Fri Apr 19, 2019 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

This is a good discussion. It comes up occasionally on the forum, but not often enough. The executor has the legal responsibility of acting in the best interest of all parties with a claim to the estate. When the parties have no interest in maximizing financial value, but rather have an interest in ...
by FIREchief
Fri Apr 19, 2019 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: What I don’t understand about Donor Advised Funds...
Replies: 54
Views: 3940

Re: What I don’t understand about Donor Advised Funds...

Another benefit of a DAF (at least Fidelity's, with which I'm familiar) is that you can leave funds in it or add funds to it upon your death, and you can select successor charities who will receive funds. Having estate assets transfer directly to a DAF doesn't generate any tax benefit (assuming est...
by FIREchief
Fri Apr 19, 2019 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Easy to use legal zoom for revocable trust?
Replies: 6
Views: 822

Re: Easy to use legal zoom for revocable trust?

Does CA allow for a beneficiary deed on the house? That could reduce/eliminate the need to cover it through a trust or will.
by FIREchief
Fri Apr 19, 2019 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: What percentage will I keep when I sell my home?
Replies: 20
Views: 1396

Re: What percentage will I keep when I sell my home?

Realtor fees - Most of the realtors I have researched are no longer charging 6% (3/3 split), but usually around 4.5%. In my area, they are still 6% (used to be 7%). Other than the on-line listing services, I haven't seen anything close to 4.5%. Do you actually have local B&M listing brokerages that...
by FIREchief
Fri Apr 19, 2019 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

No one in my family (that would be an heir), would care to take the time to sort out a mess. That's the beauty of not being executor. Heirs who are not the executor have no responsibility (legal or otherwise) to sort out the mess. This is entirely the legal duty of the executor. They have to invent...
by FIREchief
Fri Apr 19, 2019 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

I’d call the number on one of these “We buy houses” and take whatever number they offer you. Be done with it and don’t invest time. I would sooner just resign as executor. While I appreciate the simplicity in this suggestion, I would not be happy when one (or more) of the other heirs hired a lawyer...
by FIREchief
Fri Apr 19, 2019 1:35 am
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

One thing to remember is that the current homeowner's insurance probably lapses after the house is unoccupied for 30 days . You'll have to either find other coverage (difficult to get and expensive) or have the estate take on the risk of an uninsured house. So, does this mean of I were to take a 6-...
by FIREchief
Thu Apr 18, 2019 1:55 am
Forum: Personal Finance (Not Investing)
Topic: In Laws Retirement Nest Egg
Replies: 156
Views: 13975

Re: In Laws Retirement Nest Egg

Right, and I've seen a lot of those threads. I have to think, someone who felt THEY couldn't retire without millions in savings, is likely to have great angst when a parent retires with much less (even if the parents spends a lot less and is responsible). This appears to be the crux of the problem ...
by FIREchief
Wed Apr 17, 2019 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: In Laws Retirement Nest Egg
Replies: 156
Views: 13975

Re: In Laws Retirement Nest Egg

Need some advice about the financial situation of my in laws. I don't know much, but I do know the following: - They are 62 years old. MIL has never worked, FIL just retired (much to my surprise) - Due to health conditions, they are not eligible for Long Term Care insurance. 62 year old people with...
by FIREchief
Wed Apr 17, 2019 1:26 am
Forum: Investing - Theory, News & General
Topic: What is your one favorite fixed income for retirement?
Replies: 45
Views: 5266

Re: What is your one favorite fixed income for retirement?

delamer wrote:
Mon Apr 15, 2019 1:53 pm
I avoid corporate bonds, because I prefer to take risks with stocks instead.

So Treasuries, TIPS, and cash equivalents.
+1 Clarification: TIPS are treasuries.
by FIREchief
Tue Apr 16, 2019 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

Good advice. A two hour flight means 1000+ miles away. The will usually names a successor executor if the appointed executor cannot serve. If not hire an attorney and petition the probate court for relief. Take it from me your spouse doesn't need this headache. What does "petition the probate court...
by FIREchief
Tue Apr 16, 2019 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

Great questions and points FIREchief. I don't believe my spouse signed up for this (need to confirm but for purposes of this thread let's assume so). Relationship was parent's sibling and last living member of that side of the family (for the given generation and older). So not a parent but still a...
by FIREchief
Tue Apr 16, 2019 5:38 pm
Forum: Investing - Theory, News & General
Topic: Fixed Indexed Annuities
Replies: 22
Views: 1093

Re: Fixed Indexed Annuities

livesoft wrote:
Tue Apr 16, 2019 1:14 pm
The company and the salesrep take a big chunk of your money along with a big chunk of any growth potential that actually shows up.
Don't forget the fact that you also just bought about a dozen expensive steak dinners for the plate lickers at the sales pitch! :beer
by FIREchief
Tue Apr 16, 2019 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

I’d call the number on one of these “We buy houses” and take whatever number they offer you. Be done with it and don’t invest time. I would sooner just resign as executor. While I appreciate the simplicity in this suggestion, I would not be happy when one (or more) of the other heirs hired a lawyer...
by FIREchief
Tue Apr 16, 2019 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 82
Views: 5922

Re: Executor of Will - Selling House in Poor Condition

The "Facts" 1) Spouse is executor for the will of a recently deceased family member 6) House in bad shape: a) incredibly cluttered, b) kitchen needs substantial work, c) bathroom needs substantial work, d) some of the floors feel like they are sloping, and e) some noticeable cracks in the wall (inf...
by FIREchief
Mon Apr 15, 2019 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Conflicted about housing: Buy or keep renting?
Replies: 10
Views: 1435

Re: Conflicted about housing: Buy or keep renting?

I wouldn't buy unless I planned on owning a property for 10 years or more. Between market corrections and transaction costs there is a high risk you can lose your principle. Even in the red-hot Bay Area we saw about a 20%-25% decline in property values in my town from 2008-2012. +1 I would never bu...
by FIREchief
Sat Apr 06, 2019 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: The high cost of sound financial advice
Replies: 45
Views: 4892

Re: The high cost of sound financial advice

[But now we are entering this strange world of "withdrawing and spending." Lots of complex questions, but mainly the idea is setting up a long-term strategy to keep taxes as low as possible. I don't mind paying taxes, but want to optimize our withdrawals at the lowest tax rate that is sensible. Unf...
by FIREchief
Tue Apr 02, 2019 1:24 am
Forum: Personal Finance (Not Investing)
Topic: TOD/POD/Trust question
Replies: 22
Views: 1434

Re: TOD/POD/Trust question

I think the two strongest reasons to set up a trust are asset protection and spendthrift protection. I doesn't sound like you require the latter, but I am of the opinion that in our litigation crazy society, everybody can benefit from the former. I should know this but are the assets in a living tr...
by FIREchief
Mon Apr 01, 2019 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: TOD/POD/Trust question
Replies: 22
Views: 1434

Re: TOD/POD/Trust question

I think the two strongest reasons to set up a trust are asset protection and spendthrift protection. I doesn't sound like you require the latter, but I am of the opinion that in our litigation crazy society, everybody can benefit from the former.
by FIREchief
Sun Mar 31, 2019 11:54 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 86
Views: 10995

Re: Trust Services

Just starting the funding process of our Living Revocable Trust I also am having trouble finding a successor trustee I trust. I would be happy to find an ST that would invest only in passive ETFs like VTI or the S&P, but most want to sell everything (no cap gains due to step up at death) and use th...
by FIREchief
Mon Mar 25, 2019 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Two factor authentication loophole?
Replies: 32
Views: 3225

Re: Two factor authentication loophole?

Wow. Maybe that's why I haven't dived into apps for financial accounts. :shock:
by FIREchief
Fri Mar 22, 2019 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity HSA-how are you investing the funds?
Replies: 36
Views: 2357

Re: Fidelity HSA-how are you investing the funds?

Mini 10 year TIPS ladder to cover Medicare premiums plus copays and estimated dental and vision. Rest in TMI fund.
by FIREchief
Sun Mar 17, 2019 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: American Airlines Food Voucher
Replies: 1
Views: 462

Re: American Airlines Food Voucher

Let me guess.... You're in Dallas and AA botched a connection and paid you off with a voucher that you can use at the airport McDonalds. Been there, done that. :twisted:
by FIREchief
Sat Mar 16, 2019 12:44 pm
Forum: Investing - Theory, News & General
Topic: What % of FA's add value?
Replies: 14
Views: 744

Re: What % of FA's add value?

I think the answers are directly related to the types of investors out there. It is much easier for a FA to add value for the following: a) the person who refuses to learn the basics of equity investing and just parks 100% of their money in bank accounts b) the person who thinks they are smarter tha...
by FIREchief
Sun Mar 10, 2019 8:45 pm
Forum: Personal Investments
Topic: Leaving Roth to children?
Replies: 16
Views: 1919

Re: Leaving Roth to children?

I believe that leaving Roth dollars to an heir in a properly drafted qualified trust is the best inheritance that you can leave them. The Roth RMD's don't generate taxable income, and thus can remain in an accumulation trust for asset protection purposes without incurring inflated trust tax rates. I...
by FIREchief
Wed Mar 06, 2019 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: tIRA to ROTH conversions-LTC considerations
Replies: 12
Views: 926

Re: tIRA to ROTH conversions-LTC considerations

Excellent points OP. I think some diversification among Roth, traditional and after-tax funds will generally be a good thing in retirement. That said, for many there will be a balance between the risks of high RMDs and the risks of high LTC expenses. There is also the risk of leaving too much in tIR...
by FIREchief
Fri Feb 15, 2019 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Empty nester downsizing - any advice?
Replies: 65
Views: 8860

Re: Empty nester downsizing - any advice?

Just bumping this to provide an update for the many helpful posters. Our house is empty and was listed yesterday. We're settled into an apartment and the decluttering worked so well that we actually have an empty cabinet and space in the patio storage closet. 5 x 10 storage unit (dirty word :P ) is ...
by FIREchief
Mon Feb 04, 2019 9:29 pm
Forum: Personal Consumer Issues
Topic: Car Benz C-300 Not starting often - Dealer no Help
Replies: 45
Views: 2836

Re: Car Benz C-300 Not starting often - Dealer no Help

If a jump start fails, then it certainly is NOT the battery. Your dealer (or any other qualified auto shop) is much more qualified to provide guidance than a bunch of folks on the internet who have no access to your car. Good luck! :sharebeer If that was the case OP wouldn't be posting here after h...
by FIREchief
Mon Feb 04, 2019 1:07 am
Forum: Personal Consumer Issues
Topic: Car Benz C-300 Not starting often - Dealer no Help
Replies: 45
Views: 2836

Re: Car Benz C-300 Not starting often - Dealer no Help

If a jump start fails, then it certainly is NOT the battery. Your dealer (or any other qualified auto shop) is much more qualified to provide guidance than a bunch of folks on the internet who have no access to your car. Good luck! :sharebeer
by FIREchief
Wed Jan 30, 2019 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate age to communicate your will/wishes to your kids
Replies: 57
Views: 4161

Re: Appropriate age to communicate your will/wishes to your kids

A few comments.... I really wish more folks on the forum would follow Bruce's advice about how to provide/preserve asset protection through a trust. We see so many posts by people who allow their heirs to withdraw xx percent at age yy, etc. which clearly jeopardizes the trust's asset protection; wh...
by FIREchief
Tue Jan 29, 2019 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate age to communicate your will/wishes to your kids
Replies: 57
Views: 4161

Re: Appropriate age to communicate your will/wishes to your kids

A few comments.... I really wish more folks on the forum would follow Bruce's advice about how to provide/preserve asset protection through a trust. We see so many posts by people who allow their heirs to withdraw xx percent at age yy, etc. which clearly jeopardizes the trust's asset protection; whi...
by FIREchief
Sat Jan 26, 2019 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Living Trust and Incapacitation AZ
Replies: 10
Views: 724

Re: Living Trust and Incapacitation AZ

But to avoid any doubt, you could give the financial institution a copy soon after it's signed, so if they insist on their own form, you'll have a chance to do another one on their form. ^^^this!! I've done this with a major brokerage. They had their legal team review the DPOA and provided feedback...
by FIREchief
Fri Jan 25, 2019 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone see an inheritance not go as planned? I would like to hear stories from others of what can go wrong.
Replies: 177
Views: 16013

Re: Has anyone see an inheritance not go as planned? I would like to hear stories from others of what can go wrong.

Supposedly my wife is the executor for her elderly parents estate. Parents refuse to reveal the contents of the will to my wife or 4 siblings. When the day comes the only thing my wife will inherit is a big mess that will dog her for months if not years. She has my sympathy. Have you suggested to h...
by FIREchief
Fri Jan 25, 2019 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone see an inheritance not go as planned? I would like to hear stories from others of what can go wrong.
Replies: 177
Views: 16013

Re: Has anyone see an inheritance not go as planned? I would like to hear stories from others of what can go wrong.

I'm seeing some surprising "facts" in this thread. Don't all states have laws that require anybody in possession of a last will to file it with the courts within a short period of time? I don't believe that filing a valid will has much of a connection with that will's named personal representative o...
by FIREchief
Fri Jan 25, 2019 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate age to communicate your will/wishes to your kids
Replies: 57
Views: 4161

Re: Appropriate age to communicate your will/wishes to your kids

Many seem to equate "telling the kids what is in the will" with telling them how much. OP didn't address that, but it can make sense to do one without the other. 20 might be too young or might not be. 12 probably is. Once 20 yr old is ready, I see nothing wrong with letting him/her read the will and...
by FIREchief
Thu Jan 24, 2019 1:45 am
Forum: Personal Finance (Not Investing)
Topic: Worth it for lease to go into month-to-month by default?
Replies: 3
Views: 513

Re: Worth it for lease to go into month-to-month by default?

Why are you using email for these issues? I would just call them or, better yet, confront them face to face.
by FIREchief
Thu Jan 24, 2019 1:36 am
Forum: Personal Finance (Not Investing)
Topic: Setting up Will, do we need trust?
Replies: 50
Views: 3590

Re: Setting up Will, do we need trust?

We have a meeting scheduled with an attorney next week to set up a Will, do we need a Trust too? We have two adult children. Our assets are investments, savings account and a house that we are living in. We have no real estate, no properties. Thanks ahead for your input on the subject. How many of ...
by FIREchief
Thu Jan 24, 2019 12:59 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance for Retirees, % escalation
Replies: 52
Views: 3855

Re: Health Insurance for Retirees, % escalation

Back on topic...… OP: I am currently assuming approximately 8% for annual increases in pre-Medicare retiree health insurance premiums. That said, Megacorp is a strange and unpredictable beast, so who knows??? :confused I believe that Megacorp early retirees as a group are generally an attractive ri...
by FIREchief
Tue Jan 22, 2019 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Help needed: wife seeking new job to escape megacorp hell
Replies: 58
Views: 5660

Re: Help needed: wife seeking new job to escape megacorp hell

Megacorp isn't "hell." It's more like a very light purgatory with excellent pay and benefits. Maybe things have changed, but in my time at Megacorp, earning an MBA meant about a 5% immediate raise and then you're on your own. A group of folks who had "paid the price" joked that MBA's at Megacorp had...
by FIREchief
Sat Jan 19, 2019 12:01 am
Forum: Personal Investments
Topic: Should I dump our wealth planner/financial advisor?
Replies: 49
Views: 5130

Re: Should I dump our wealth planner/financial advisor?

barnaclebob wrote:
Fri Jan 18, 2019 3:07 pm
I think most investment advisor "accolades" are based on sales or are literally purchased.
+1 Have we seen any "accolades" from the actual FA customer paying the fees?? :confused
by FIREchief
Fri Jan 11, 2019 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion
Replies: 36
Views: 3047

Re: Roth conversion

is50xenough wrote:
Fri Jan 11, 2019 1:00 pm
For those who are in early retirement and with significant tax deferred savings, are you doing "mega" Roth conversions, meaning not at the level of zero taxes or even the lowest tax bracket.
Yes.
by FIREchief
Mon Jan 07, 2019 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Recent Engineering College Graduate can’t get job interviews, needs advice
Replies: 145
Views: 11346

Re: Recent Engineering College Graduate can’t get job interviews, needs advice

LadyGeek wrote:
Fri Jan 04, 2019 9:31 am
What counts as "qualified"? A degree from an accredited school. That's it. No grades, no school reputation is considered.
Back when I was involved in this at Megacorp, it wasn't engineering schools that were accredited (by ABET), but specific curriculums. Has this changed?