Search found 854 matches

by plannerman
Wed Feb 28, 2024 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Tax return - Grantor irrevocable trust
Replies: 21
Views: 2164

Re: Tax return - Grantor irrevocable trust

The purpose of the Form-1041 for a grantor trust with an EIN is to tie the trust income to the grantors social security number. All I do, as a trustee of a grantor trust, is fill out the top of the 1041, sign the form, and attach a spreadsheet with the trust's Form 1099-I, 1099-Div and 1099-B information.

plannerman
by plannerman
Tue Feb 27, 2024 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Tax return - Grantor irrevocable trust
Replies: 21
Views: 2164

Re: Tax return - Grantor irrevocable trust

I thought grantor trusts were reported on the grantor's return. At one time, the trustee would get an EIN, and file a blank return with a separate sheet of paper setting forth the income that was taxable to the grantor, and the grantor reports the income. However, Treas. Reg. § 1.671-4, https://www.law.cornell.edu/cfr/text/26/1.671-4, was amended in 1995. With a few exceptions, you now have a choice. Most trustees use the grantor's social security number, and don't file returns. Instead, the grantor includes the income. However, some trustees use the old method and file a blank return with a separate sheet showing the income that's taxable to the grantor. If this is a grantor trust, and your description reads like it is, filling out the 10...
by plannerman
Fri Feb 02, 2024 1:37 pm
Forum: Personal Consumer Issues
Topic: Best & Worst "Mid-Life Crisis" expenditures
Replies: 129
Views: 24370

Re: Best & Worst "Mid-Life Crisis" expenditures

Bought a two seat, turbo-charged sports car (MR2) that I still enjoy driving 32 years later.

plannerman
by plannerman
Wed Jan 24, 2024 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Washington Post: "That 'free' annual checkup might cost you"
Replies: 112
Views: 11776

Re: Washington Post: "That 'free' annual checkup might cost you"

I have a colonoscopy scheduled for April. I was told by the person I made the appointment with that, because I was 80 years old, I had to come in 1 week before the appointment for a physical to make sure I was healthy enough to undergo the procedure. I asked if I could provide statement from my PCP to that effect and they said no. After reading this article, it's clear this is just another case of
"Creative exploitation"

plannerman
by plannerman
Mon Jan 15, 2024 7:12 am
Forum: Personal Finance (Not Investing)
Topic: IRS statute of limitations
Replies: 12
Views: 2141

Re: IRS statute of limitations

Well I guess no one knows the answer. Thanks to all who took the time to respond. I will add this. The payment never shower up in my IRS account, and furthermore, the IRS agents I talked to couldn't find it even after I sent them a copy of the canceled check with the IRS tracking number stamped on the front. I was not best pleased with the IRS after this experience.

plannerman
by plannerman
Sat Jan 13, 2024 7:42 am
Forum: Personal Finance (Not Investing)
Topic: IRS statute of limitations
Replies: 12
Views: 2141

IRS statute of limitations

This is complicated. I will try to be brief. In February 2020, we purchased a condominium from a foreign national. The Foreign Investment in Real Property Tax Act 1980 (FIRPTA), generally requires any transferee (buyer) of a U.S. Real Property Interest to withhold from the purchase price an amount which constitutes a tax on the foreign transferor (seller). There are exceptions to the withholding requirement that we met and there was no withholding. In August 2021, we received a letter from the IRS saying they denied the no withholding and we had 20 days to send them the required withholding amount. I promptly sent them a check. After stewing over this and rereading more than I wanted to know about FIRPTA, I contacted a CPA firm that special...
by plannerman
Sun Jan 07, 2024 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: buying car on lease and paying off in 1 month
Replies: 27
Views: 5342

Re: buying car on lease and paying off in 1 month

TheGreyingDuke wrote: Sun Jan 07, 2024 12:19 pm
MishkaWorries wrote: Sun Jan 07, 2024 11:00 am The dealer told me the $7500 was cash rebate from Hyundai. Maybe he was wrong. You're right to thoroughly research before you buy.
That's close enough to the truth to be actionable. The details are that Hyundai Finance collects the $7500 tax credit and they reduce the selling price.
For this to work Hyundai Finance have to buy (take-title) the car and resell it. Doesn't pass the smell test.
by plannerman
Thu Jan 04, 2024 6:33 am
Forum: Personal Finance (Not Investing)
Topic: Current Vanguard account balance discrepancies
Replies: 46
Views: 5569

Re: Current Vanguard account balance discrepancies

EyeDee wrote: Wed Jan 03, 2024 8:59 pm .
Our statements were available Wednesday evening. However, a quick check seems to indicate the dollar values were calculated by multiplying the shares by the share price and then truncating instead of rounding, resulting in some dollar values to be off by a penny. Although it might be some internal representation that is off because in one case the dollar value was a penny lower than the Excel TRUNC function result.
EyeDee also reported up thread that he or she received their statement yesterday
by plannerman
Thu Jan 04, 2024 6:12 am
Forum: Personal Finance (Not Investing)
Topic: Current Vanguard account balance discrepancies
Replies: 46
Views: 5569

Re: Current Vanguard account balance discrepancies

As of this morning, I still don't have either EOY statements or EOY performance results.

plannerman
by plannerman
Mon Jan 01, 2024 6:27 am
Forum: Personal Finance (Not Investing)
Topic: Current Vanguard account balance discrepancies
Replies: 46
Views: 5569

Re: Current Vanguard account balance discrepancies

My account balances still don't match the ones shown in the performance tab.

plannerman
by plannerman
Sun Dec 31, 2023 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Current Vanguard account balance discrepancies
Replies: 46
Views: 5569

Current Vanguard account balance discrepancies

While doing my EOY bookkeeping, I noticed that 5 out of 6 of our family's accounts are currently showing different balances depending on where you look on the Vanguard website. The values on the account balance page are different than the ones on the end of year balances shown on the "Performance" tab.

It hard for me to fathom how this is possible. Clearly Vanguard has at least two sets of books.

This might be an EOY problem that will soon get fixed, so you may want to wait to see is this clears up before spending a lot of time on your end of year analysis.

plannerman
by plannerman
Tue Dec 19, 2023 5:24 am
Forum: Personal Finance (Not Investing)
Topic: [Updated] The IRS Owes Me Money...
Replies: 20
Views: 2592

Re: The IRS Owes Me Money...

I had a somewhat similar situation and, after 3 years, asked my congressman's office for help. They got me the refund plus interest back in less than 30 days. No communication from the IRS--just a check in the mail.

plannerman
by plannerman
Wed Oct 11, 2023 7:38 am
Forum: Investing - Theory, News & General
Topic: What ratio are you stocks/bonds and how old are you?
Replies: 449
Views: 95645

Re: What ratio are you stocks/bonds and how old are you?

esetter wrote: Sun Sep 17, 2023 11:35 am
plannerman wrote: Wed Jun 24, 2015 1:58 pm Age 72, married and retired for 16-years.
60% equities
35% bonds
5% cash

I have the next 10-year's cash needs liability matched with TIPS. I add to the end of the ladder when my portfolio is overweight in equities.

plannerman
I'm considering something similar. I assume you have your TIPS in an IRA account. If so, have you considered the income taxes associated with your IRA withdrawals when estimating your future income needs?
Yes and yes.

I'm now 80, retired for24 years and have the same asset allocation. I currently only have the next 6-year's cash needs in laddered TIPs. The rest of my bond allocation is in a short-term TIPs fund
by plannerman
Sat Sep 09, 2023 1:41 pm
Forum: Personal Consumer Issues
Topic: Generator to back up Sump Pump
Replies: 40
Views: 3325

Re: Generator to back up Sump Pump

If you have city water, are you aware that there are water powered sump pumps?

https://www.watercommander.com/
by plannerman
Thu Jul 20, 2023 6:58 am
Forum: Personal Consumer Issues
Topic: Buying a car, mid-2023. Experiences? Best strategy?
Replies: 45
Views: 5003

Re: Buying a car, mid-2023. Experiences? Best strategy?

I just purchased a Hyundai Ioniq 5. The dealer was asking $10k over MSLP. I made them an offer in mid May for $5K under MSLP including the $7,500 Lease rebate. They sneered at the offer. On May 30th I got a call (plus a text and email) from the sales person saying if I was still interested they would take the offer as long as I could close before the end of the month.

I paid off the lease the next week.

plannerman
by plannerman
Sun Jul 09, 2023 7:08 am
Forum: Personal Finance (Not Investing)
Topic: IBM UHC Medicare Advantage 2023 - pros and cons?
Replies: 85
Views: 15722

Re: IBM UHC Medicare Advantage 2023 - pros and cons?

AT&T is going down a similar path for 2024. I would be very interested in hearing from IBMers what their experiences with the IBM UHC Advantage 2023 have been--both positive and negative.

plannerman
by plannerman
Wed May 17, 2023 7:33 pm
Forum: Personal Consumer Issues
Topic: Best place to buy refurbished Windows 11 PC desktop computer?
Replies: 14
Views: 1574

Re: Best place to buy refurbished Windows 11 PC desktop computer?

Discount Electronics
internet@discountelectronics.com

I have purchased several PCs from them and they have provided great customer service after the sale.

plannerman
by plannerman
Sat May 13, 2023 11:31 am
Forum: Personal Consumer Issues
Topic: Trip to Asheville, NC - where to stay?
Replies: 44
Views: 4601

Re: Trip to Asheville, NC - where to stay?

When you get tired of hiking, consider taking a train ride.
https://www.gsmr.com/

plannerman
by plannerman
Fri Apr 28, 2023 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Unexpected IRS refund
Replies: 59
Views: 5331

Re: Unexpected IRS refund

When receiving a refund like this from the IRS, is there any obligation to try and determine if was in fact warranted? I would be inclined to simply deposit the check and get on with my life.

plannerman
by plannerman
Mon Apr 24, 2023 3:06 pm
Forum: Personal Consumer Issues
Topic: ID.me [Identify verification site]
Replies: 363
Views: 41904

Re: ID.me [Identify verification site]

MAI wrote: Sun Apr 23, 2023 7:07 pm
plannerman wrote: Sun Apr 23, 2023 6:58 pm I just tried the self-serve option and could not for the life of me figure out how to upload required picture of my drivers license. If you hvve done it what was the trick?
Are you talking about ID.me? I was able to complete the process with both ID.me and Login.gov. I already had the necessary pictures of my documents (acquired with a scanner) on my desktop and just browsed to their location to upload. I don't have a mobile device so can't help if you're using one.
Yes. Thanks. When I got to the upload photo section, I said I didn't have a smartphone and was able to upload the photos from my PC.
by plannerman
Sun Apr 23, 2023 6:58 pm
Forum: Personal Consumer Issues
Topic: ID.me [Identify verification site]
Replies: 363
Views: 41904

Re: ID.me [Identify verification site]

I just tried the self-serve option and could not for the life of me figure out how to upload required picture of my drivers license. If you hvve done it what was the trick?

plannerman
by plannerman
Mon Apr 17, 2023 7:00 pm
Forum: Personal Consumer Issues
Topic: [On-going Scams - Post them here]
Replies: 1372
Views: 165417

Re: [On-going Scams - Post them here]

Lastrun wrote: Mon Apr 17, 2023 4:52 pm
plannerman wrote: Mon Apr 17, 2023 4:24 pm This one, I'm embarrassed to say, almost got me. I received a text message that looked like it was from my bank asking if had made a $907.99 charge on a my credit card with a link to supposedly acknowledge it was not an authorized charge. The link returned my bank's login and password screen. It looked authentic and I almost fell for it.

plannerman
plannerman, quick question: Did it mention your bank of credit card company?
Yes it came from My_Bank name_supprt@sti-mobile.com

Our bank is a large regional bank, not one of the big national ones. And we have a credit card with that bank.
by plannerman
Mon Apr 17, 2023 4:24 pm
Forum: Personal Consumer Issues
Topic: [On-going Scams - Post them here]
Replies: 1372
Views: 165417

Re: [On-going Scams - Post them here]

This one, I'm embarrassed to say, almost got me. I received a text message that looked like it was from my bank asking if had made a $907.99 charge on a my credit card with a link to supposedly acknowledge it was not an authorized charge. The link returned my bank's login and password screen. It looked authentic and I almost fell for it.

plannerman
by plannerman
Thu Apr 13, 2023 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: trustees estate settlement question
Replies: 11
Views: 1285

Re: trustees estate settlement question

How did you arrive at the value of the farmland? Seems to me that might be a bigger issue than the the differences in capital gains.

plannerman
by plannerman
Mon Mar 27, 2023 4:36 pm
Forum: Personal Consumer Issues
Topic: Heat and sun blocking film for windows
Replies: 21
Views: 1777

Re: Heat and sun blocking film for windows

I just did it on south facing windows in FL. My predecessors had had it done maybe 20 years ago and the old film had lost its effectiveness. Removing the old film was a bigger chore than applying the new film. Plus 1 on the YouTube videos--they were very helpful. Glad I did it; it makes a big difference on the sun load.

plannerman
by plannerman
Sun Mar 19, 2023 8:14 am
Forum: Investing - Theory, News & General
Topic: Vanguard PAS and International Stock Allocation
Replies: 50
Views: 5160

Re: Vanguard PAS and International Stock Allocation

In a recent portfolio transferred to PAS, the International allocation went from 18% pre PAS to 25% post PAS.

plannerman
by plannerman
Sat Feb 25, 2023 5:49 am
Forum: Personal Consumer Issues
Topic: Undermount sink repair - Should I use Black Mamba FHG adhesive?
Replies: 3
Views: 691

Re: Undermount sink repair - Should I use Black Mamba FHG adhesive?

DoctorTiger99 wrote: Fri Feb 24, 2023 5:02 am I had the same problem with my sinks a year after we built our house - yikes!

I bought these clips off of Amazon and attached them to every granite counter with an undermount sink with PC-7 epoxy.


https://www.amazon.com/Artisan-Clips-1 ... 2668&psc=1
+1
by plannerman
Wed Feb 22, 2023 7:02 am
Forum: Personal Consumer Issues
Topic: Ioniq 5 SEL AWD vs. ID.4 Pro S AWD
Replies: 68
Views: 5752

Re: Ioniq 5 SEL AWD vs. ID.4 Pro S AWD

The market for Ioniq 5s is in complete disarray with the recent MSLP changes. Dealers haven't changed their prices on their website. Some dealers are trying to get $10k over the old MSLP while others are discounting the new price slightly. Some dealers, maybe most, don't seem to know about the lease deal. The numbers quoted in that deal don't make any sense to me but maybe I don't understand car leases. Carmax is listing used models for more than the current MSLP.

Seems to me to be a good time to lay low and see what happens. On the other hand, there is so much confusion, maybe there is a deal in here somewhere.

plannerman
by plannerman
Tue Feb 21, 2023 5:26 am
Forum: Personal Consumer Issues
Topic: Ioniq 5 SEL AWD vs. ID.4 Pro S AWD
Replies: 68
Views: 5752

Re: Ioniq 5 SEL AWD vs. ID.4 Pro S AWD

It looks to me like Hyundai has just lower the MSLP on all four trim levels of the Ioniq 5. I was looking at the Limited and it was $58k and change and its now $52,600. This is apparently without the lease $7,500 tax credit workaround.

Edited to post the link to the prices https://www.hyundaiusa.com/us/en/vehicl ... lsrc=aw.ds

plannerman
by plannerman
Sat Feb 18, 2023 10:01 pm
Forum: Personal Consumer Issues
Topic: Ioniq 5 SEL AWD vs. ID.4 Pro S AWD
Replies: 68
Views: 5752

Re: Ioniq 5 SEL AWD vs. ID.4 Pro S AWD

Ioniq 5 SEL AWD: $52,285; $600 Doc Fee; ~$3,200 taxes 10 yr/100,000 mile warranty for battery 320 hp/446 lb-ft torque; 266-mile range 2 years free charging w/ Electrify America Dealer said that they could knock $1,000 if we used Hyundai financing (could pay off after 3 months w/o penalty) Does NOT qualify for tax credit Total w/ financing benefit: $55,085 If you lease this, the dealer will pass through the $7500 tax credit and then you can immediately buy out the lease. You might lose the $1k financing credit and you will also need to pay $1k extra in lease acquisition & disposition charges. But you still end up $5500 ahead. $49,585 OTD if my math serves. https://www.hyundaiusa.com/us/en/offers/detail?model=Ioniq%205&year=2023&...
by plannerman
Sat Feb 18, 2023 5:26 pm
Forum: Personal Consumer Issues
Topic: Ioniq 5 SEL AWD vs. ID.4 Pro S AWD
Replies: 68
Views: 5752

Re: Ioniq 5 SEL AWD vs. ID.4 Pro S AWD

I'm in the market for a midsized EV SUV as well. I really liked the Ioniq 5. My local dealer, howeber, is asking $10,000 over MSLP. I don't like it that much better than the Tesla Model Y. Where is your dealer located? I could have it shipped for a lot less than $10,000.

You may also want to read about a problem with the 12 volt accessory battery loosing charge https://www.ioniqforum.com/threads/has- ... ost-550954.

There are a few other complaints on the forum about the lack of repair parts.

plannerman
by plannerman
Wed Feb 15, 2023 4:10 pm
Forum: Personal Consumer Issues
Topic: Evaluating a CCRC (Continuing Care Retirement Community)
Replies: 22
Views: 3803

Re: Evaluating a CCRC (Continuing Care Retirement Community)

My bias is toward a non profit with a long track record and a waiting list. Talk to current residents. View assisted living and skilled nursing areas as well as independent living facilities.

plannerman
by plannerman
Mon Feb 13, 2023 4:36 am
Forum: Personal Finance (Not Investing)
Topic: Trust Income Distribution
Replies: 37
Views: 3443

Re: Trust Income Distribution

Just to add to this confusing subject, my understanding is that capital gains distributions e.g., from a mutual fund, are considered distributable income.

plannerman
by plannerman
Sun Feb 12, 2023 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Forgiveness of debt tax questions
Replies: 3
Views: 320

Re: Forgiveness of debt tax questions

That's helpful. Thanks.

plannerman
by plannerman
Sun Feb 12, 2023 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Forgiveness of debt tax questions
Replies: 3
Views: 320

Forgiveness of debt tax questions

I'm trying to help a relative with his income taxes. He settled a credit card debt last year and has not received a 1099-C from the credit card company. He knows he owes income taxes on the amount of the principal forgiven. He no longer has online access to the settled account and has no way to figure out if he settled the account for more or less than the principal. I have read online that lenders may not issue 1099-Cs until they write the forgiven debt off their books if at all. What's the best course of action in this situation? 1) wait to see if he gets a 1099-C, 2) Make an uneducated guess on what the principal was? (he knows who much he settled the debt for) and report the estimated forgiven debt as other income on his 1040, or 3) som...
by plannerman
Mon Feb 06, 2023 8:40 am
Forum: Personal Consumer Issues
Topic: Dipping my toes in EV? Tesla 3/Y Questions!
Replies: 272
Views: 26669

Re: Dipping my toes in EV? Tesla 3/Y Questions!

Thanks. What's Elan's thinking that led to that?
by plannerman
Mon Feb 06, 2023 8:00 am
Forum: Personal Consumer Issues
Topic: Dipping my toes in EV? Tesla 3/Y Questions!
Replies: 272
Views: 26669

Re: Dipping my toes in EV? Tesla 3/Y Questions!

Anybody know if Tesla is passing through the credit on leases?

plannerman
by plannerman
Wed Jan 11, 2023 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Amended Form 1040 processing
Replies: 6
Views: 554

Re: Amended Form 1040 processing

Just my social security and the form number.

plannerman
by plannerman
Wed Jan 11, 2023 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Amended Form 1040 processing
Replies: 6
Views: 554

Re: Amended Form 1040 processing

After a surprisingly short time in queue with the IRS today, I spent almost two hours with a very helpful agent trying to sort this out. Long story short, I faxed her a copy of the canceled check for the payment, with the DLN number stamped on the front, but she was unable to find out where the payment got applied. She provided me her name and IRS number and promised to get back to me. I was appalled that they couldn't account for the check, but was impressed with the customer service. It was certainly far better than I experienced with my last issue with Vanguard.

plannerman
by plannerman
Tue Jan 10, 2023 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Amended Form 1040 processing
Replies: 6
Views: 554

Amended Form 1040 processing

I e-filed a Form 1040X on April 22, 2022 amending our 2021 Form 1040. I requested a payment, that had I made in error, be applied to our 2022 taxes. I checked the "Where is my amended return" website and the processing of the Form 1040X was completed on 7/21/2022. I have yet to hear anything from the IRS and there are no notices shown on my account.

I just checked our 2021 transcript and the IRS has not added the payment to the "Applied to next year's estimated tax" line. Nor is it shown on my account balance.

Is there a way, online, to track down the status of this payment--I really don't want to spend hours waiting for an IRS agent to answer the phone.

plannerman
by plannerman
Sat Jan 07, 2023 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Does Medicare cover MD visit for ear infection?
Replies: 40
Views: 3431

Re: Does Medicare cover MD visit for ear infection?

If this is your neighbors first claim of the new year, the $200 charge would be less that the 2023 Medicare deductible of $226. And therefore not covered.

plannerman
by plannerman
Thu Dec 29, 2022 8:25 am
Forum: Personal Finance (Not Investing)
Topic: What are you doing differently in 2023?
Replies: 210
Views: 28714

Re: What are you doing differently in 2023?

We are turning 80 next year, will have been retired for 24 years, are slowly coming to grips with the reality that we are not going to run out of money and we probably don't need to add to the end of our 10-year TIPs ladder.

We are going to gift more to kids and charities, spend more and stop worrying about every purchase of something we want but don't really need.

plannerman
by plannerman
Tue Nov 29, 2022 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Got IRS Notice CP22A [amended return discrepancy]
Replies: 53
Views: 6704

Re: Got IRS Notice CP22A

For what it's worth, I filed an amended return in April, It was processed in June and has still not shown up on my transcript. The IRS might be even more screwed up than Vanguard.

plannerman
by plannerman
Sat Nov 05, 2022 8:39 am
Forum: Investing - Theory, News & General
Topic: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
Replies: 2094
Views: 215686

Re: New fee for Vanguard mutual accounts

Like many posters here, I manage Vanguard accounts for a few family members. One of these family member's accounts would have been subject to the $20/mutual fund fees. Said family member does not have an online account, and therefore could not initiate the transition online. And neither could I. He, therefore, dutifully completed and mailed the two paper forms (one for retirement accounts and one for non-requirement accounts) to move both of his accounts to the brokerage platform. Both accounts were eventually transitioned in September, so no fees were incurred. That is the good news! However, the permissions for me to transact on his accounts did not automatically transfer to my online account. I called Vanguard and they were able to locat...
by plannerman
Tue Aug 16, 2022 5:48 am
Forum: Personal Finance (Not Investing)
Topic: Individualizing Life Expectancy Estimates
Replies: 6
Views: 819

Re: Individualizing Life Expectancy Estimates

Thanks for posting this. I found it helpful as I'm in the process of deciding on treatment options for slow growing cancer.

plannerman
by plannerman
Wed Jul 13, 2022 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Typical cost in Florida for Residential Real Estate settlement service
Replies: 9
Views: 873

Re: Typical cost in Florida for Residential Real Estate settlement service

Two years ago, I purchased a FL condo in a "friendly sale". The seller and I shared a closing agent and his total fee was $500 ($250 each). What I didn't realized at the time was, I had also agreed to purchase buyer's title insurance, which I didn't want. Closing agents receive a generous sales commission on title insurance allowing them to charge a rather nominal amount for closing the sale. Live and learn or as least be forewarned.

plannerman
by plannerman
Sun Jun 12, 2022 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Paying from a Vanguard self-managed irrevocable trust account
Replies: 8
Views: 1097

Re: Paying from a Vanguard self-managed irrevocable trust account

I simply do online (ACH) transfers from the trust brokerage account to the beneficiary's checking account.
No big deal.

For the other expenses, I do similar transfers to a trust checking account at my own bank. Then write checks.

plannerman
by plannerman
Wed May 04, 2022 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Email from Vanguard regarding switching account type.
Replies: 51
Views: 5719

Re: Email from Vanguard regarding switching account type.

Don't know if they have fixed this or not. But when my wife and I switched to the new brokerage platform, our respective full agent authorizations to act on each other's accounts did not follow. We only found out by accident. Then to correct it, we had to summit new agent authorization forms that required both witnessed and notarized signatures. This was at the height of the Covid lockdown and was a burden to accomplish.

plannerman
by plannerman
Sat Apr 23, 2022 6:08 am
Forum: Personal Finance (Not Investing)
Topic: Heads Up - Citi Double Cash MC snafu
Replies: 62
Views: 7754

Re: Heads Up - Citi Double Cash MC snafu

Thanks for posting. I saw this offer pop up on a Shell gas pump yesterday and didn't know what it was all about, so I declined. I have no idea what the conversion rate would have been. I converted my outstanding cash rewards to a statement credit this morning before reading this and lost a $1 or so. However, even more annoying, they said it could take up to 2 billing cycles to for the credit to show up. How long does it take for cash to show up in your checking account?

plannerman
by plannerman
Tue Apr 12, 2022 5:26 am
Forum: Personal Finance (Not Investing)
Topic: Should I buy Owner's Title Insurance?
Replies: 43
Views: 3893

Re: Should I buy Owner's Title Insurance?

We had a somewhat similar situation. We bought a condo in Florida a couple of years ago for cash in a gated golf community with 850 living units. We were the second owners and chose to not purchase owner's title insurance. My view was that the risk of a significant title defect was vanishingly small. I certainly haven't lost any sleep worrying about it since.

plannerman