Search found 912 matches

by Luckywon
Mon Jun 01, 2020 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Put checking accounts in living revocable trusts?
Replies: 47
Views: 8092

Re: Put checking accounts in living revocable trusts?

Far better to appoint a co trustee than a successor. With a successor, they would need to prove that the thing that triggers their status to trustee has occurred. You may or may not be able to get a doctor to go along. With a co trustee you bypass this problem. While you are healthy and managing yo...
by Luckywon
Sat May 30, 2020 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: The risks of using account aggregators (how they access your accounts).
Replies: 31
Views: 2092

Re: The risks of using account aggregators (how they access your accounts).

My largest accounts are investment accounts at E*trade where I have a "no funds out" lock that requires telephone verification to undo so that is an extra layer of security for me. Hm. I was curious, but I couldn't find the account setting you're speaking of? Mind elaborating? At E*trade the status...
by Luckywon
Sat May 30, 2020 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: The risks of using account aggregators (how they access your accounts).
Replies: 31
Views: 2092

Re: The risks of using account aggregators (how they access your accounts).

I do use Mint to aggregate transactions from credit card and banking accounts, because a) I wouldn't properly track my spending budget without such convenience b) the tail risk is much more limited (I can deal with losing $20k, I can't deal with losing $1M...). I would be glad to see proper read-on...
by Luckywon
Sat May 30, 2020 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: The risks of using account aggregators (how they access your accounts).
Replies: 31
Views: 2092

Re: The risks of using account aggregators (how they access your accounts).

I also don't know that smaller provider like the sort of company that has a service like this can adequately protect people like a major brokerage or bank can with security. Not sure what you're referring to here but Mint is owned by Intuit which has market cap of $76 billion and is part of SP500.
by Luckywon
Sat May 30, 2020 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: The risks of using account aggregators (how they access your accounts).
Replies: 31
Views: 2092

Re: The risks of using account aggregators (how they access your accounts).

I use Mint and love the ability to search transactions and see everything at a glance. I have not heard of anyone materially harmed by a security issue from using mint.com. Until then (and maybe even after, depending on the details), I'm happy to take my chances.
by Luckywon
Fri May 29, 2020 1:16 am
Forum: Personal Consumer Issues
Topic: Best eFAX provider?
Replies: 11
Views: 804

Re: Best eFAX provider?

Since you have a multifunction printer, you can use your printer and existing phone line for outgoing fax. For incoming fax to email, look at the Anveo.com “free” account. You will pay a couple of dollars a month for your dedicated “fax” line phone number but incoming faxes are free. Program your f...
by Luckywon
Thu May 28, 2020 10:43 am
Forum: Personal Consumer Issues
Topic: Best eFAX provider?
Replies: 11
Views: 804

Re: Best eFAX provider?

I've been using Faxage for the past several years (usually a faxes each month) and pay lees than $4 month. This looks pretty promising, I think I'l try them, thanks! I use Anveo.com. They offer fax to email on their voip. Thanks for the info. This is for my home and my phone is in a bundle with int...
by Luckywon
Wed May 27, 2020 12:20 pm
Forum: Personal Consumer Issues
Topic: Best eFAX provider?
Replies: 11
Views: 804

Best eFAX provider?

I've used RingCentral for years but they have more than doubled their pricing for me over the last four years, going up to $17.99/month. I send and receive far less than 100 pages/month. I'm looking at switching to fax.plus which would be significantly cheaper (about 1/3 the price). Would appreciate...
by Luckywon
Wed May 27, 2020 12:58 am
Forum: Personal Finance (Not Investing)
Topic: Small Estate in CA and Probate
Replies: 17
Views: 1067

Re: Small Estate in CA and Probate

Wouldn't it be easier for their heirs if they prepared wills to appoint an administrator to pay burial expenses and file final tax returns for them? They should also consider executing springing POA's and health care POA's in the event one is deceased and the other incapacitated. Otherwise you may b...
by Luckywon
Tue May 26, 2020 2:24 pm
Forum: Investing - Theory, News & General
Topic: Pros/Cons of taxable accounts for both spouses
Replies: 17
Views: 1464

Re: Pros/Cons of taxable accounts for both spouses

Cool, does that mean that the the basis wouldn't step up upon the death of one spouse if there were two separate accounts for husband and wife? Correct. Only the separate account of the deceased would get a step-up. Disagree with this. Teaman, If the separate accounts were funded with marital prope...
by Luckywon
Tue May 26, 2020 1:28 pm
Forum: Investing - Theory, News & General
Topic: Pros/Cons of taxable accounts for both spouses
Replies: 17
Views: 1464

Re: Pros/Cons of taxable accounts for both spouses

At the risk of sounding repetitive, as I was trying to answer this in my previous posts, and not with the intent of deterring anyone else from offering an opinion, I'll summarize my layman's understanding of this: John is married to Mary. They live in California, a community property state. They ha...
by Luckywon
Tue May 26, 2020 10:20 am
Forum: Investing - Theory, News & General
Topic: Pros/Cons of taxable accounts for both spouses
Replies: 17
Views: 1464

Re: Pros/Cons of taxable accounts for both spouses

Assuming an individual lives in a community property state, I'm trying to understand what are the benefits of setting up a taxable account for both spouses. If the assets are in a joint taxable account in a community property state, the assets get a step-up in value at the death of the first spouse...
by Luckywon
Mon May 25, 2020 11:58 pm
Forum: Investing - Theory, News & General
Topic: Pros/Cons of taxable accounts for both spouses
Replies: 17
Views: 1464

Re: Pros/Cons of taxable accounts for both spouses

One con is that in a community property state the separate property of a surviving spouse does not get a step up in capital gains basis upon the death of one spouse. Community property and inherited property do. I don't believe that separate accounts would necessarily constitute separate property. ...
by Luckywon
Mon May 25, 2020 8:44 pm
Forum: Investing - Theory, News & General
Topic: Pros/Cons of taxable accounts for both spouses
Replies: 17
Views: 1464

Re: Pros/Cons of taxable accounts for both spouses

One con is that in a community property state the separate property of a surviving spouse does not get a step up in capital gains basis upon the death of one spouse. Community property and inherited property do. To be clear, if John is married to Mary and each has separate property, upon John's deat...
by Luckywon
Mon May 25, 2020 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Customer hasn't paid me not worth cost of lawyer but...
Replies: 48
Views: 5044

Re: Customer hasn't paid me not worth cost of lawyer but...

mtwhmemn wrote:
Sun May 24, 2020 9:02 pm
birnhamwood wrote:
Sun May 24, 2020 6:22 pm
A letter to the Better Business Bureau got the immediate attention of a business that owed me $1300.

I was paid in full within two or three weeks.
This I like.
Is the customer a business? What type of business?
by Luckywon
Sun May 24, 2020 5:57 pm
Forum: Personal Investments
Topic: Question about Edward Jones disapproval
Replies: 44
Views: 4422

Re: Question about Edward Jones disapproval

Thanks all for the advice. We work in a field where it's difficult not to get pretty close with our coworkers, so he and I are on very good terms and I know he wouldn't mind at all if I gave him advice. My uncertainty was in part just not being sure if he would take any of my advice to heart. I'll ...
by Luckywon
Sat May 23, 2020 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as Trustee of Estate Trust
Replies: 99
Views: 5524

Re: Vanguard as Trustee of Estate Trust

I agree that it's not easy to avoid commingling. IMO the best way to keep nonmarital property separate is through a prenuptial or postmarital agreement. I'm not certain of the context you are envisioning here. If I'm a parent and trying to determine the safest way to leave assets to my adult childr...
by Luckywon
Sat May 23, 2020 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as Trustee of Estate Trust
Replies: 99
Views: 5524

Re: Vanguard as Trustee of Estate Trust

I agree that it's not easy to avoid commingling. IMO the best way to keep nonmarital property separate is through a prenuptial or postmarital agreement. I'm not certain of the context you are envisioning here. If I'm a parent and trying to determine the safest way to leave assets to my adult childr...
by Luckywon
Sat May 23, 2020 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as Trustee of Estate Trust
Replies: 99
Views: 5524

Re: Vanguard as Trustee of Estate Trust

Exactly what constitutes commingling would depend on the law of the state and the circumstances in a given case. It is not easy to avoid commingling. Trusting that one's heirs can avoid commingling is at best a gamble. Paying taxes on a separate property asset from marital assets or using a separat...
by Luckywon
Sat May 23, 2020 10:06 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 367
Views: 28776

Re: The axe falls and I am prepared. What's next?

Wow, the responses here are piling up fast. A heartening sign of how many people care about you, and rightfully so, considering your generous contributions here. A) I only plan to work 20 hours per week. Between unemployment and the $600 per week, I will get about $900 per week. Unless I am paid at ...
by Luckywon
Sat May 23, 2020 2:01 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 367
Views: 28776

Re: The axe falls and I am prepared. What's next?

Folks, I am asking two separate questions: A) Under what financial condition, it is rewarding for me to take on part-time project work. At this moment, it looks like anything less than $90 per hour is not worthwhile. B) Under what non-financial condition, would you go back to work? KlangFool Could ...
by Luckywon
Fri May 22, 2020 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as Trustee of Estate Trust
Replies: 99
Views: 5524

Re: Vanguard as Trustee of Estate Trust

- Have any joint expenses been paid out of the separate account? Mortgage payment? Home repair? Children's expenses? Family vacation? Family car? Joint taxes? Was advised by an attorney in California that paying joint expenses from a separate account does not "taint" the account. Adding to it from ...
by Luckywon
Fri May 22, 2020 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as Trustee of Estate Trust
Replies: 99
Views: 5524

Re: Vanguard as Trustee of Estate Trust

- Have any joint expenses been paid out of the separate account? Mortgage payment? Home repair? Children's expenses? Family vacation? Family car? Joint taxes? Was advised by an attorney in California that paying joint expenses from a separate account does not "taint" the account. Adding to it from ...
by Luckywon
Fri May 22, 2020 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Prepaying PPP Loan Prior to Requesting Forgiveness
Replies: 8
Views: 453

Re: Prepaying PPP Loan Prior to Requesting Forgiveness

Huge downside potential (forfeit forgiveness) , minuscule upside potential. Sounds like a very bad idea to me.
by Luckywon
Thu May 21, 2020 1:32 am
Forum: Personal Finance (Not Investing)
Topic: Amex platinum card - $20 streaming and wireless provider credit
Replies: 30
Views: 2426

Re: Amex platinum card - $20 streaming and wireless provider credit

If you keep your Verizon payment as is, but make one time $20 Amex payments for instance on 5/30 and 6/2, you should get $40 Amex credit while losing a $15 Verizon discount. Net $25. Repeat 7/30 and 8/2. Make sense? Fantastic!! I just paid my T-mobile bill early, squeeze an extra $20 out of nowhere...
by Luckywon
Sun May 17, 2020 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Need help from NYC Real Estate Experts!!!
Replies: 35
Views: 2906

Re: Need help from NYC Real Estate Experts!!!

Buying a condo in NYC under the circumstances you describe sounds like an absolutely dreadful decision to me. Purchasing and maintaining the property will be time consuming. Best outcome, you will be confined to a place far less pleasant than if you allocated the same resources to a hotel. It goes d...
by Luckywon
Sun May 17, 2020 2:06 am
Forum: Personal Investments
Topic: Stock Screen
Replies: 21
Views: 1014

Re: Stock Screen

azumz wrote:
Sun May 17, 2020 1:57 am
Sorry to waste your time!
Just when we were in the middle of a fruitful discussion of domestic vs. international. Unforgivable. :twisted:
by Luckywon
Sat May 16, 2020 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: Fraudulent charges... Getting really tired of the number of times this happens and resulting hassle.
Replies: 70
Views: 6031

Re: Fraudulent charges... Getting really tired of the number of times this happens and resulting hassle.

Whenever possible I make my credit card transactions end in 0.33 cents. This is easy to do at restaurants (adjust tip) and a little bit of a game at gas stations-within 1 cent is close enough. This makes them easy to recognize as authentic. Doesn't prevent the problem OP is having but helps a bit wh...
by Luckywon
Sat May 16, 2020 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: How did you set up your trust distributions?
Replies: 39
Views: 2515

Re: How did you set up your trust distributions?

Lastly, my sister would be the trustee if my wife and I both passed away. Was thinking of co-trusting Vanguard's Trust Company to help her manage the investments in our trust. Consider designating your sister (or group of relatives) "trust protector" with power to appoint/remove a successor corpora...
by Luckywon
Sat May 16, 2020 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Should I go for online Will making software?
Replies: 14
Views: 1075

Re: Should I go for online Will making software?

I 100% agree that for most situations, it is worth the money to pay for a good estate attorney. That said, I have a question for others in this thread. Let's assume a typical situation. Young couple. No prior marriages. One or more young children. Most/all financial assets have beneficiary designat...
by Luckywon
Sat May 16, 2020 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of revocable trusts, wills, estate planning
Replies: 25
Views: 1903

Re: Cost of revocable trusts, wills, estate planning

Many thanks again FIREchief. With respect to: I believe that their distributions would continue on the original beneficiary's RMD schedule, but you may want to verify that. Bruce or Gill can likely tell us. I think that in this post in this thread: The tradeoff of leaving IRA benefits in trust for t...
by Luckywon
Sat May 16, 2020 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of revocable trusts, wills, estate planning
Replies: 25
Views: 1903

Re: Cost of revocable trusts, wills, estate planning

I would be very curious to know your (or anyone else's) opinion of what the RMD implications would be of leaving a Roth IRA to a conduit trust with spouse as sole primary beneficiary. My understanding is that for traditional IRA's, a conduit trust with spouse as sole income beneficiary would have t...
by Luckywon
Sat May 16, 2020 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Cost of revocable trusts, wills, estate planning
Replies: 25
Views: 1903

Re: Cost of revocable trusts, wills, estate planning

I know Michael Kitces. His writings are always excellent. I'm not aware of anything that would allow a conduit trust for the spouse to avoid having to make distributions from Roth IRA benefits. The tradeoff of leaving IRA benefits in trust for the spouse is that you give up the additional deferral ...
by Luckywon
Sat May 16, 2020 2:30 am
Forum: Personal Finance (Not Investing)
Topic: Should I go for online Will making software?
Replies: 14
Views: 1075

Re: Should I go for online Will making software?

Maybe this has been discussed before. But given we are in pandemic, I wanted to ask once again... Should I go for online Will making software? I already have a living will made in MA 10 years back. Then I was married, my son was 3 years old, and I did not own a house. This was done with the help of...
by Luckywon
Sat May 16, 2020 2:12 am
Forum: Personal Finance (Not Investing)
Topic: Cost of revocable trusts, wills, estate planning
Replies: 25
Views: 1903

Re: Cost of revocable trusts, wills, estate planning

Now - can you explain what benefit the accumulation trust is? I understand the old stretch rules over lifetime, and the new 10 year rules, but how does this accumulation trust concept help? Don't the assets just accumulate and then when they're forced out after 10 years, they get taxed all at once?...
by Luckywon
Thu May 14, 2020 6:15 pm
Forum: Personal Investments
Topic: **AMAZED** Just venting
Replies: 16
Views: 2423

Re: **AMAZED** Just venting

OP this is my 888th post. A very lucky number in Chinese culture! :D I therefore take this opportunity to wish you good fortune. On your topic, I'll comment that In my opinion, what's important in life is good health and happiness and they only lightly related to wealth.

Best wishes!!
by Luckywon
Thu May 14, 2020 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Should you include home equity in Net Worth?
Replies: 160
Views: 7611

Re: Should you include home equity in Net Worth?

Net worth should be all the cash you could muster in, say, six months to pay off a kidnapper. House counts. I have a google sheet where, just for kicks, I track my net worth and some derivatives of it: Net worth: Value of assets (including home) minus liabilities. Discounted net worth: I discount h...
by Luckywon
Thu May 14, 2020 9:25 am
Forum: Personal Consumer Issues
Topic: Dentist charges $10 for PPE
Replies: 234
Views: 10822

Re: Dentist charges $10 for PPE

Mine has always used a mask, face shield and latex gloves. Nothing has changed. They better not start charging extra for these same things theyve used forever. Something has changed. Every patient visit now has to be considered one where there is a significant chance a potentially fatal virus has b...
by Luckywon
Thu May 14, 2020 12:01 am
Forum: Personal Consumer Issues
Topic: Dentist charges $10 for PPE
Replies: 234
Views: 10822

Re: Dentist charges $10 for PPE

frugaltigris wrote:
Wed May 13, 2020 11:54 pm
Probably my dentist is in a Third World -- cheap, better and honest.
Is this based on experience? Could you provide further detail? This is quite interesting.
by Luckywon
Wed May 13, 2020 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Should we create a testamentary trust for $6M estate?
Replies: 198
Views: 8913

Re: Should we create a testamentary trust for $6M estate?

... Maybe we'll get lucky and obi-wan-bsteiner will drop in to clarify... (emphasis mine) lol I do hope that Mr. Steiner saw this. Even if he didn’t, he is forever rechristened/ renamed in my mind. IMO "bsteiner" can properly be used as a verb and should be formalized in the English lexicon. bstein...
by Luckywon
Wed May 13, 2020 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of revocable trusts, wills, estate planning
Replies: 25
Views: 1903

Re: Cost of revocable trusts, wills, estate planning

Redoing ours now. Similar situation to yours. Estate planning for both including revocable living trusts in California. $6000.
by Luckywon
Wed May 13, 2020 5:14 pm
Forum: Personal Consumer Issues
Topic: Dentist charges $10 for PPE
Replies: 234
Views: 10822

Re: Dentist charges $10 for PPE

I haven't read all the replies but just want to say dentists are under extreme pressure these days and IMO an attempt to recover some of their extraordinary expenses by passing through costs to their clients is reasonable. Granted, this practice may run afoul of a contract if you are seeing the dent...
by Luckywon
Wed May 13, 2020 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Mystery bill from dentist
Replies: 47
Views: 3176

Re: Mystery bill from dentist

Will try to keep this brief... I had an implant done 2010 for a front tooth I had. Fast forward 2015 and I notice it is starting to fail. I go back to the dentist and they take an xray etc to look at it and it turns out it needed to come out. ... I called the place up and spoke to the receptionist ...
by Luckywon
Tue May 12, 2020 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America unauthorized ATM withdrawal
Replies: 47
Views: 2285

Re: Bank of America unauthorized ATM withdrawal

So I had a 92.50 ATM withdrawal back in January that I dont think was me. Per my bank statements, the withdrawal occurred in Massachusetts on a Monday, however I had taken a train from MA to NY on a sunday. As such, I started a dispute with bank of america. They denied my dispute, saying that since...
by Luckywon
Tue May 12, 2020 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America unauthorized ATM withdrawal
Replies: 47
Views: 2285

Re: Bank of America unauthorized ATM withdrawal

skepticalobserver wrote:
Tue May 12, 2020 1:42 pm
bloom2708 wrote:
Tue May 12, 2020 1:38 pm
Some do multiples of $10
Really? That's a lot of cash for the customers. The banks must be re-loading the machines twice a day+.
Learned something new.
Chase ATMs in my area allow you to select denominations in $5, $20 and $100.
by Luckywon
Tue May 12, 2020 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Amex platinum card - $20 streaming and wireless provider credit
Replies: 30
Views: 2426

Re: Amex platinum card - $20 streaming and wireless provider credit

Yes it's until 12/31. I switched my T-Mobile auto-pay to my AmEx platinum card, and I subscribed to YouTube premium. Have to remember to cancel 12/31 though! Most people don't, and that's how they get you! Note that almost all companies allow you to make partial payments. So for example I will pay ...
by Luckywon
Mon May 11, 2020 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Amex platinum card - $20 streaming and wireless provider credit
Replies: 30
Views: 2426

Re: Amex platinum card - $20 streaming and wireless provider credit

Does anyone who have the Amex platinum card seen that now since a lot of the travel benefits from platinum are in hold, they are now offering up to $20 a month credits each for streaming and wireless provider services? https://www.americanexpress.com/us/campaigns/new-offers/charge/platinum-card-bwx...
by Luckywon
Mon May 11, 2020 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Should we create a testamentary trust for $6M estate?
Replies: 198
Views: 8913

Re: Should we create a testamentary trust for $6M estate?

No, you are confused. I didn’t say anything about the beneficiary of a trust. Not sure where you got that. The main benefit of a trust for the ultra wealthy is avoiding estate taxes. The reason is that assets in a trust are not disbursed/taxable on death. OP is not quite to the level where estate t...
by Luckywon
Mon May 11, 2020 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Should we create a testamentary trust for $6M estate?
Replies: 198
Views: 8913

Re: Should we create a testamentary trust for $6M estate?

Sure - if your estate is over the estate tax threshold, then the estate is taxed at a very high rate upon disbursement to heirs (assuming you don’t have a trust). The current threshold is very high ($11.4 million) but has been lower in the past. If you have a trust, your estate is owned by your tru...
by Luckywon
Mon May 11, 2020 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up wife after devorce
Replies: 45
Views: 5909

Re: Setting up wife after devorce

Split it in half to tick the legal boxes. If you want to help her after all is legally separated then you are free to. This sounds generous, but (legally) only if it represents roughly half of your net worth. what is your overall networth? legally, you wife is entitled to 50% of that, so if networt...