Search found 3198 matches

by afan
Sun Feb 25, 2018 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Bogleheads: What are you doing to prepare for dementia/alzheimers?
Replies: 59
Views: 4619

Re: Bogleheads: What are you doing to prepare for dementia/alzheimers?

At the one CCRC with which I became familiar they had a medication service for residents in independent living. Nurses would ensure the meds were taken at the right imes and in the right amounts. It would not work for those who were often out and about during the day. But as people decline they are ...
by afan
Sat Feb 24, 2018 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Auti/Home Insurance with different Companies and Umbrella
Replies: 5
Views: 324

Re: Auti/Home Insurance with different Companies and Umbrella

You just have to shop. My insurance company, SF, will only offer umbrella if you have home and auto with them. At least in my state. State regulations vary and insurance company policies and prices vary, widely. Some will give good enough prices on one component to make it worthwhile to split among ...
by afan
Sat Feb 24, 2018 9:09 am
Forum: Personal Finance (Not Investing)
Topic: Bogleheads: What are you doing to prepare for dementia/alzheimers?
Replies: 59
Views: 4619

Re: Bogleheads: What are you doing to prepare for dementia/alzheimers?

I looked into this on behalf of an elderly individual I was helping. I agree that a corporate trustee may have a role for someone with no appropriate family members or friends who can do these tasks. But this is not a great business for the corporate trust departments. They make their money by takin...
by afan
Fri Feb 23, 2018 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Bogleheads: What are you doing to prepare for dementia/alzheimers?
Replies: 59
Views: 4619

Re: Bogleheads: What are you doing to prepare for dementia/alzheimers?

Forum rules prohibit offering medical advice beyond "see your doctor if you are concerned about your health" For financial concerns: Make sure you have a durable power of attorney (DPOA) with someone trusted and responsible as the attorney in fact. This will, in principle, give that person the right...
by afan
Tue Feb 20, 2018 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance question
Replies: 7
Views: 374

Re: Life insurance question

You should not need life insurance once you retire. If you still needed that earned income then presumably you would not retire. The problem is what happens if you change jobs. Your new employer might not have as good a deal.or.you might have to undergo medical underwriting. If you can get good rate...
by afan
Tue Feb 20, 2018 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Cash out WL policy
Replies: 4
Views: 320

Re: Cash out WL policy

Or you could pay estimated tax this quarter to cover the tax on the income.
by afan
Tue Feb 20, 2018 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Opening a taxable account in Vanguard Joint vs a Trust account
Replies: 18
Views: 984

Re: Opening a taxable account in Vanguard Joint vs a Trust account

The lawyes should comment. I have the impression that there are several standard ways of defining how the trustee can be changed. Depending on the ability of the beneficiaries, they may be able to act collectively. If not, then some appoint an individual or entity that can change the trustee.
by afan
Tue Feb 20, 2018 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard as trustee
Replies: 34
Views: 4816

Re: Vanguard as trustee

The large national banks in this field typically have minimum trust sizes of several million dollars. One I spoke with would take accounts as low as 3 million but such accounts were placed in a special "small trusts" division at truly painful fees. Others were really not interested in discussing a t...
by afan
Tue Feb 20, 2018 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Opening a taxable account in Vanguard Joint vs a Trust account
Replies: 18
Views: 984

Re: Opening a taxable account in Vanguard Joint vs a Trust account

You probably discussed this with your lawyer but the first step in asset protection is insurance. You may not be able to buy insurance to protect against the risks you fear but before you complicate your estate plan you should investigate that option.
by afan
Tue Feb 20, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Opening a taxable account in Vanguard Joint vs a Trust account
Replies: 18
Views: 984

Re: Opening a taxable account in Vanguard Joint vs a Trust account

In my stse asset protection for tenants by the entirety inly applies to the family home. You are welcome to use that method of holding anything you want, but there is no asset protection other than for the one piece if real estate defined as the home. If there is asset protection in your state for a...
by afan
Mon Feb 19, 2018 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as trustee
Replies: 34
Views: 4816

Re: Vanguard as trustee

Very helpful. Thanks
by afan
Mon Feb 19, 2018 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning RLT vs. Testamentary (Texas)
Replies: 12
Views: 636

Re: Estate Planning RLT vs. Testamentary (Texas)

I would add, though, that apart from lawsuits there are smaller claims that arise on a more routine basis. Refunds and such due from third parties, just in the ordinary course of life. Maybe substantial, maybe not, maybe something you can jawbone the third party into paying anyway, maybe not. Proba...
by afan
Mon Feb 19, 2018 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as trustee
Replies: 34
Views: 4816

Re: Vanguard as trustee

Binding your trust to Vanguard could backfire and create a mess that would be difficult for beneficiaries to unwind. Not all banks stay in the trust business forever. What if Vanguard gets out of the business or sells it's trust operation to a different company? If you had normal provisions guiding ...
by afan
Mon Feb 19, 2018 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning RLT vs. Testamentary (Texas)
Replies: 12
Views: 636

Re: Estate Planning RLT vs. Testamentary (Texas)

Eric, That is an interesting point about the estate having rights to money coming in from legal proceedings after death. It is not obvious to me why the trust could not be the recipient and pursue the cases, but I gather that is Tx law? The estate represents the person after death while the trust is...
by afan
Mon Feb 19, 2018 9:21 am
Forum: Personal Finance (Not Investing)
Topic: Estate Planning RLT vs. Testamentary (Texas)
Replies: 12
Views: 636

Re: Estate Planning RLT vs. Testamentary (Texas)

Assuming you hold the house as joint tenants or tenants by the entirety then the house would not have to go through probate at the first death. The RLT has very little cost or complexity associated with it. We set them up ages ago and 99.9999% of the time we never notice them. They have no effects o...
by afan
Sun Feb 18, 2018 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: My MetLife Flexible Premium Multi-funded Life experience, Did I get lucky?
Replies: 4
Views: 448

Re: My MetLife Flexible Premium Multi-funded Life experience, Did I get lucky?

You could do a 1035 exchange to an annuity and not pay taxes at that time. Eventually the income from the annuity would be taxable, but you could time it so that it does not start while you are still working. But who owns the policy? You or your daughter? If I am following you, the agreement require...
by afan
Sun Feb 18, 2018 4:56 pm
Forum: Personal Consumer Issues
Topic: $12,000 Refrigerator? [Looking in $7k price range]
Replies: 66
Views: 6757

Re: $12,000 Refrigerator? [Looking in $7k price range]

I don't believe the expensive refrigerator keep food cold any better than "regular" units. But high end kitchens are standard in expensive houses. It may not make any sense, but you could maintain the value of a house by getting a Sub Zero, or some such, when the existing high end fridge need to be ...
by afan
Sun Feb 18, 2018 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Why pay off the mortgage with life insurance?
Replies: 6
Views: 653

Re: Why pay off the mortgage with life insurance?

Well, even if you don't pay off the mortgage as a lump sum, continuing life as before means making the monthly mortgage payment. Where is the money for that to come from? While you are working it comes from your earned income. That stops when you die. By having enough life insurance you make it poss...
by afan
Sun Feb 18, 2018 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as trustee
Replies: 34
Views: 4816

Re: Vanguard as trustee

Gill, You are uniquely qualified to evaluate corporate trustees. Can you tell us how you thought your way through the question of which company to use? It's been a number of years now since I made the decision. Having spent my career in the employ of corporate fiduciaries, I was sold on the need fo...
by afan
Sat Feb 17, 2018 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as trustee
Replies: 34
Views: 4816

Re: Vanguard as trustee

I would not want to write in something too restrictive in a trust about how the assets were to be managed. Things change and it takes a lot of confidence to believe that one now knows what will be the best way to manage investments decades into the future. Imagine what your instructions would have s...
by afan
Sat Feb 17, 2018 9:41 pm
Forum: Personal Consumer Issues
Topic: Mixing fuel octanes for cars
Replies: 57
Views: 3517

Re: Mixing fuel octanes for cars

I alternate octane grades on each fill up to get a rating in between those available. My care recommends but does not require octane above 87. I have found I get better gas mileage with the higher octane mix than with 87. Not sure the mileage improvement makes up for the extra cost, but I assume, wi...
by afan
Sat Feb 17, 2018 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as trustee
Replies: 34
Views: 4816

Re: Vanguard as trustee

Gill,

You are uniquely qualified to evaluate corporate trustees. Can you tell us how you thought your way through the question of which company to use?
by afan
Sat Feb 17, 2018 4:09 pm
Forum: Investing - Theory, News & General
Topic: Barron's-The Latest Casualty in the ETF Fee War—Objective Advice-Mentions Vanguard ETFs and new TD policy
Replies: 11
Views: 1285

Re: Barron's-The Latest Casualty in the ETF Fee War—Objective Advice-Mentions Vanguard ETFs and new TD policy

There are plenty of brokers that charge low fees for ETFs and at least the last I heard, Merrill Edge was still free. If you trade rarely then even a $5 commission should not be enough to make you change your broker or you choice of funds. If you have an account at Vanguard you can trade Vanguard et...
by afan
Sat Feb 17, 2018 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as trustee
Replies: 34
Views: 4816

Re: Vanguard as trustee

Have not signed on with Vanguard, or anyone else, for trustee services. From my shopping: The fees and details change fairly often. So be sure to get up to date information. Vanguard was simple. It operated in many ways like a traditional bank trustee. Vanguard would manage the investment responsibi...
by afan
Sat Feb 17, 2018 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Can I convert whole life back to term?
Replies: 16
Views: 895

Re: Can I convert whole life back to term?

You will need to review those figures since it may pay to do different things with different policies. Your choices could include cashing in, which is simple but may not be optimal. If you have a gain on any of them cashing in could lead to a tax bill. If you wanted a new cash value policy you could...
by afan
Sat Feb 17, 2018 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Effect of spending money on appearance in career
Replies: 79
Views: 5787

Re: Effect of spending money on appearance in career

Impossible to have an informed opinion. It depends almost entirely on your industry and your individual work situation. In some fields and jobs no one would notice or care. In others appearance might be hugely important. You might do better to ask some people you trust and respect who are close enou...
by afan
Sat Feb 17, 2018 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Can I convert whole life back to term?
Replies: 16
Views: 895

Re: Can I convert whole life back to term?

Can't hurt to check with the agent about your wife. Also make sure you are right that she could not get a new policy of her own. Many people have chronic illnesses but are still insurable. The new term policy just has to be a better deal than the while life policy she has now. If she really is not i...
by afan
Thu Feb 15, 2018 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Taking mortgage from a trust?
Replies: 13
Views: 683

Re: Taking mortgage from a trust?

I gather a distribution or below market loan to buy a house would not qualify as HEMS?

Sounds like the OP needs to go over this with an attorney to make sure they do it right.
by afan
Thu Feb 15, 2018 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Taking mortgage from a trust?
Replies: 13
Views: 683

Re: Taking mortgage from a trust?

bsteiner, If the trust is to protect trust assets from creditors, would that require the mortgage be at market rates? If the trust lent money to the beneficiaries at less than market rates, would that be evidence this was just them taking the difference from the trust? It sounds like they would have...
by afan
Wed Feb 14, 2018 6:20 pm
Forum: Investing - Theory, News & General
Topic: What if you only live off dividends?
Replies: 183
Views: 13629

Re: What if you only live off dividends?

As others have noted, the problem with living off dividends is that they can drop. You have to be willing to cut spending when that happens. For this reason, you should not spend all of the dividends in good years because saving some of them helps sustain the value of the portfolio when you have to ...
by afan
Wed Feb 14, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Daily asset and liability management service and fee
Replies: 1
Views: 171

Re: Daily asset and liability management service and fee

If the elderly person has enough money you could hire a bank or trust company to be the trustee and pay the bills. They would charge a rate that depends on the total value of the assets they were managing. They would usually want at least a couple million, although Vanguard will do it for less. One ...
by afan
Wed Feb 14, 2018 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: C-Suite etiquette advise needed
Replies: 27
Views: 3669

Re: C-Suite etiquette advise needed

Good for him. I have encountered several who think of their wine drinking as a source of moral superiority and look down on those who do not partake. The "I don't like the taste" is to them so baffling that they come to a halt, dumbfounded. Then disbelieving. "But this is $400/bottle Chateau Somethi...
by afan
Wed Feb 14, 2018 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Daughter’s College & Grad School Expenses -Nurse Practitioner
Replies: 51
Views: 3318

Re: Daughter’s College & Grad School Expenses -Nurse Practitioner

Those are very valuable degrees. Huge demand means no problem getting a job after the BSN. Two years of BSN should permit her to pay back some of the loan for the tuition and living expenses while getting that degree. She might even be able to save some for the NP program. Could she work part time a...
by afan
Wed Feb 14, 2018 11:09 am
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15857

Re: free dinner investing seminar

There are venues where legitimate experts give talks on a wide variety of topics. Some are free, others available for a small price. My alma mater, and many of the other colleges in town, has at least two types of regular speaker series. One is professors at other universities who come to campus and...
by afan
Wed Feb 14, 2018 6:15 am
Forum: Investing - Theory, News & General
Topic: The Misguided Beliefs of Financial Advisors
Replies: 15
Views: 2842

Re: The Misguided Beliefs of Financial Advisors

I wonder how their results compare to those of the Vanguard study that found that advisors add several percent to clients' realized returns, mainly from behavioral coaching. I don't recall a Vanguard study like that. I know of something Vanguard published that simply assumed or asserted this adviso...
by afan
Wed Feb 14, 2018 5:46 am
Forum: Personal Finance (Not Investing)
Topic: C-Suite etiquette advise needed
Replies: 27
Views: 3669

Re: C-Suite etiquette advise needed

Lots of people don't drink. I have had only one instance where a restaurant had a problem with serving me something else. They actually did not want to give me water??!! Same for food. You don't have to launch into a lecture about being a vegetarian. Just tell them you don't eat animal products. The...
by afan
Tue Feb 13, 2018 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard advice--I'm confused
Replies: 30
Views: 3703

Re: Vanguard advice--I'm confused

Owning the three national tax exempt bond funds makes no sense. Limited term + intermediate term + long term = intermediate term. If you want intermediate term, then buy it. If for some reason you want a shorter maturity than intermediate term, then there MIGHT be logic to a mix of intermediate and ...
by afan
Tue Feb 13, 2018 5:18 am
Forum: Personal Finance (Not Investing)
Topic: What criteria warrants a need for Living Revocable Trust?
Replies: 67
Views: 6181

Re: What criteria warrants a need for Living Revocable Trust?

You cannot put the retirement plans into the living trust, so your trustee cannot manage it. For this you would have to get the plan sponsors to accept a DPOA. As Firechief says, it is best to do this while you are competent and using the forms the sponsors want. You CAN simplify things by consolida...
by afan
Sun Feb 11, 2018 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: What criteria warrants a need for Living Revocable Trust?
Replies: 67
Views: 6181

Re: What criteria warrants a need for Living Revocable Trust?

You are missing my point. Putting the assets in trust has nothing to do with the complexity of the assets. It has nothing to do with hiring professional management. The issue is being permitted to do the management. Many financial institutions refuse to accept durable powers of attorney. Even when p...
by afan
Sun Feb 11, 2018 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15857

Re: free dinner investing seminar

Having no interest in hearing a sales pitch while I am eating dinner with my spouse, I never considered this. Thinking it over, my obligations to behave honestly are not negated by dishonorable behavior by a counterparty. If I think someone is trying to cheat me the appropriate response is to avoid ...
by afan
Sun Feb 11, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Dropping comprehensive/collision auto insurance - implications with rentals?
Replies: 23
Views: 1231

Re: Dropping comprehensive/collision auto insurance - implications with rentals?

Of course, you have decide whether the overall package is worth the cost. FromChase Sapphire Reserve Auto Rental Collision Damage Waiver Decline the rental company’s collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to $75,000 for t...
by afan
Sun Feb 11, 2018 10:50 am
Forum: Personal Finance (Not Investing)
Topic: What criteria warrants a need for Living Revocable Trust?
Replies: 67
Views: 6181

Re: What criteria warrants a need for Living Revocable Trust?

Much of the justification for revocable trust seems to be the avoidance of scary probate. ... It seems like an awful lot of work -- all that re-titling -- and I just don't see where all the peace-of-mind comes in. Am I off-base? Off base. Read the thread again and see the examples of living trust a...
by afan
Sun Feb 11, 2018 8:30 am
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15857

Re: free dinner investing seminar

SQRT wrote:
Sun Feb 11, 2018 2:51 am
Who would be that desperate for a dinner?
People who cannot afford to buy whatever the dinner sponsor is selling.
by afan
Sat Feb 10, 2018 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Creation with Stepchild
Replies: 12
Views: 961

Re: Trust Creation with Stepchild

Not to hijack this thread, but I want to point out another current bogleheads thread on going to free dinner seminars. The people on that one are going simply for the free food. They know they are not going to get useful advice. One of them posted a link to this industry as seen from the inside. The...
by afan
Sat Feb 10, 2018 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15857

Re: free dinner investing seminar

If you want some idea of what to expect then check out this link... http://www.wealthmanagement.com/forums/prospecting-marketing-and-selling/successful-seminars This is a link to the forum for Registered Reps. Basically the Boglehead's nemesis. As you will see, if you attend and don't buy then you ...
by afan
Sat Feb 10, 2018 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Can durable POA designate beneficiaries for Mom with dementia?
Replies: 8
Views: 487

Re: Can durable POA designate beneficiaries for Mom with dementia?

Everything seemed fine until OP got to the part about the DIY DPOA. No one but a qualified lawyer could have an opinion as to whether it is valid at all, let alone whether it permits this action. Legal documents mean what they say and no one who would understand it seems to have read the DPOA you ha...
by afan
Fri Feb 09, 2018 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Creation with Stepchild
Replies: 12
Views: 961

Re: Trust Creation with Stepchild

You and your wife might also go to one of those presentations by lawyers who are looking for more business. This is a very bad idea. You are going to get a boilerplate proposal that makes it profitable enough to hold dinner meetings paid for by the small fraction of attendees who buy an estate plan...
by afan
Fri Feb 09, 2018 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15857

Re: free dinner investing seminar

This thread inspired me to check for.timeshares on eBay. Many have sold for $0.01. The minimum bid. The sellers.claim to be paying over $1,000 to get out from under the timeshare. I wonder who buys these things???
by afan
Fri Feb 09, 2018 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15857

Re: free dinner investing seminar

I and my wife never went to any of those. I am proud to have convinced my then young son not to go to a timeshare weekend, after having read here at the Bogleheads about those scams. We have enough money, can pay for nice dinners in nice settings, don't need the noise of a presentation we do not ca...
by afan
Fri Feb 09, 2018 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Indexed Universal Life Question
Replies: 15
Views: 985

Re: Indexed Universal Life Question

Your agent will REALLY not want to talk about the guarantees. Those returns will look terrible. Among the many problems with the indexed products is that the share of the market return you get is capped. What the cap might be varies, but for example: If the market returned 7% one year you might get ...