Search found 2073 matches

by hoops777
Tue Jan 16, 2018 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 93
Views: 5651

Re: Stats on When People Take Social Security

What I do not understand is why they allow file and suspend.They are running out of money but they choose to give free money to probably mostly wealthier people who use it for play money. File and Suspend went away May 1st 2016. You maybe thinking of restricting your application to spousal benefits...
by hoops777
Tue Jan 16, 2018 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 93
Views: 5651

Re: Stats on When People Take Social Security

What I do not understand is why they allow file and suspend.They are running out of money but they choose to give free money to probably mostly wealthier people who use it for play money.
by hoops777
Mon Jan 15, 2018 12:48 pm
Forum: Investing - Theory, News & General
Topic: I can't believe I am thinking this [Panic and Survival 2008-09]
Replies: 247
Views: 72590

Re: I can't believe I am thinking this [Panic and Survival 2008-09]

If I had been on this forum in 2008 and seen this thread I would have a lot more money than I do today.
by hoops777
Sun Jan 14, 2018 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1383

Re: Trustee vs POA

Hoops 777, I have read your various posts about caring for your brother. As one who has likewise had responsibility for my own completely disabled, brain-injured brother for the last four years, I want to pitch in some moral support. The bureaucracies and personal dynamics you are navigating are in...
by hoops777
Sun Jan 14, 2018 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1383

Re: Trustee vs POA

Thank you for your replies.I guess I was hoping for some magical answer that does not exist in reality.I posted this on a whim without doing enough research first.It is obvious now that being trustee is probably worse than having POA and now it appears I am destined to assume both. I know what I nee...
by hoops777
Sat Jan 13, 2018 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1383

Re: Executor vs POA

I am now thinking that I could be sued as a trustee just as easily as a POA by a caregiver who is injured helping my brother..... Anyone involved in anyway can be sued even if you are not a POA or a trustee. But as said previously, this would be unusual in your situation you describe. That said, a ...
by hoops777
Sat Jan 13, 2018 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1383

Re: Executor vs POA

David Jay wrote:
Sat Jan 13, 2018 6:53 pm
Executor and POA are mutually exclusive. You can only have POA for someone who is living and you can only be executor for someone who is dead.
I know I misspoke.I should have said trustee.
by hoops777
Sat Jan 13, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1383

Re: Executor vs POA

They are the crew that I would be inheriting and that my brother knows and wants.None of them are licensed or bonded and that is my issue if I am seen as responsible for continuing their employment.
by hoops777
Fri Jan 12, 2018 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1383

Re: Executor vs POA

I am now thinking that I could be sued as a trustee just as easily as a POA by a caregiver who is injured helping my brother.....
by hoops777
Fri Jan 12, 2018 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1383

Re: Executer vs POA

I believe you mean that you are "trustee" of the living trust. An executor is not appointed until somebody passes away. While a trustee does have powers as established by a trust, it may depend upon language within the POA document how much "power" the POA may have over assets that the grantor plac...
by hoops777
Fri Jan 12, 2018 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1383

Re: Executer vs POA

Ok.But If I sold the house would the proceeds go into the trust so I would have control over his living expenses instead of the POA?That would be all the money he has left.
by hoops777
Fri Jan 12, 2018 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1383

Trustee vs POA

I have had a couple threads recently about taking care of my brother. My question is if I become trustee of his living trust and his home is in his trust,how does this play out. A friend/caregiver of his assumes POA. I can sell his house if in my brother’s best interest even if the friend with POA d...
by hoops777
Mon Jan 08, 2018 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Lowball offer on a home
Replies: 82
Views: 6878

Re: Lowball offer on a home

Yes I think some people misinterpret me. I do like the house. But I’m not being emotional about it. If fixed up houses are worth $525k in that area then this house is worth $525k minus the upgrade costs. Let the owner reject it...there will be other homes when they come on the market. Home improvem...
by hoops777
Mon Jan 08, 2018 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Lowball offer on a home
Replies: 82
Views: 6878

Re: Lowball offer on a home

itstoomuch wrote:
Mon Jan 08, 2018 9:14 pm
BTW, we eventually sold at 27% below our beginning ask :happy .

We also bought a condo in August at 22% above ask :happy .
Will you represent me on my next home purchase :D :D :D
by hoops777
Mon Jan 08, 2018 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Lowball offer on a home
Replies: 82
Views: 6878

Re: Lowball offer on a home

Figure out what the house is worth to you and make an offer.The owner will be greedy and probably not rational.It certainly sounds like he overpriced his home by a good margin.I would make by best offer upfront.You have no way to know what other offers will be or how low the owner will go.
by hoops777
Mon Jan 08, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Can you ever win the game?
Replies: 50
Views: 5132

Re: Can you ever win the game?

I am your average Joe who thinks he made it. So, judging by that, it is possible. Part of having made it is an attitude. On these BH boards there is a lot of fear. Fear of a crash, medical unknowns, what age they may die thus outliving your money. If you subscribe to those fears, which are almost b...
by hoops777
Mon Jan 08, 2018 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Can you ever win the game?
Replies: 50
Views: 5132

Re: Can you ever win the game?

The OP says reasonably......not 100 pct even if the world falls apart.I would say a very high pct of bogleheads answer yes to that question.Even me which is almost beyond belief :D
by hoops777
Mon Jan 08, 2018 11:18 am
Forum: Personal Consumer Issues
Topic: Hot Water Delay at faucet/shower far from water heater
Replies: 89
Views: 5152

Re: Hot Water Delay at faucet/shower far from water heater

We had a similar problem,not quite so long for the water to get hot.A plumber friend told me turn the hot water on for a couple seconds and turn it off and then wait a bit.The water will get hot much faster because the hot water was activated or something like that.It did actually help cut the time ...
by hoops777
Sun Jan 07, 2018 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

Re: POA and Legal liability

Thank you so much for all the replies. A reverse mortgage would not work. I am strongly leaning toward convincing him to leave his home.He will run out of money very quickly if he stays,especially if I have to get more insurance and deal with all of the payroll stuff that I am sure he is not paying ...
by hoops777
Sun Jan 07, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Selling home to realtor friend discount math problem
Replies: 15
Views: 925

Re: Selling home to realtor friend discount math problem

Thank you for the replies. I have contacted a realtor who is the neighborhood expert who actually sold my brother this house and his previous house.He is the one who gave me the price of 825 to 850 with a possibility of more in a multiple offer scenario which is what will happen.The local inventory ...
by hoops777
Sun Jan 07, 2018 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

Re: POA and Legal liability

I know it sounds a bit shady but I have known the woman for 7 years and she has a good heart.She is a single mom and my other brother who just passed did a lot for her two sons and her,as has my brother who they are caring for.Her oldest son recently signed a contract and is a professional athlete s...
by hoops777
Sun Jan 07, 2018 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Selling home to realtor friend discount math problem
Replies: 15
Views: 925

Re: Selling home to realtor friend discount math problem

I am uncertain about any other costs involved that need to be factored in when you sell a house without commission like this.
by hoops777
Sun Jan 07, 2018 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

Re: POA and Legal liability

The caregivers feel that if he is in a home they will medicate him to the point where he sleeps all the time and he will lose himself. Here is another question that just developed last night.The father of the caregiver is a realtor and they are now talking about buying his home and having him live i...
by hoops777
Sun Jan 07, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Selling home to realtor friend discount math problem
Replies: 15
Views: 925

Re: Selling home to realtor friend discount math problem

Sandi_k wrote:
Sun Jan 07, 2018 12:53 pm
You do realize if he sells he'll have significant capital gains tax to pay, right?

Sale Price: $835k
Purchase Price: $265k

Profit: $570k
Exemption: $250k

Capital Gains due: on $320k - could be as high as 20% of this, or $64,000
Yes I mentioned capital gains in my post.
by hoops777
Sun Jan 07, 2018 11:43 am
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

Re: POA and Legal liability

Thanks swimmer. Yes, you definitely need to check with your and your brothers insurance carriers for the specific situation. When I employed care-givers for a family member in their own home I went to a local agent and set up the whole package of workers comp, liability, etc. That agent had also be...
by hoops777
Sun Jan 07, 2018 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Selling home to realtor friend discount math problem
Replies: 15
Views: 925

Selling home to realtor friend discount math problem

My brother is thinking about selling his home in California to a realtor who is the father of his caregiver.The deal would include him staying in the home but that is a long complicated issue being discussed on another thread. So just going by the numbers please. House is worth 825 to 850,000. He bo...
by hoops777
Sun Jan 07, 2018 11:21 am
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

Re: POA and Legal liability

Thanks swimmer.
by hoops777
Sat Jan 06, 2018 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

Re: POA and Legal liability

To answer your original question, IMO, it is unlikely that there would be trouble for you if your brother fell. Who would file the complaint against you? The only time I hear of an issue in this situation is if there is a second family member that disagrees with the care or choice of POA. I am not ...
by hoops777
Sat Jan 06, 2018 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

Re: POA and Legal liability

Thank you carruthers
by hoops777
Sat Jan 06, 2018 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

Re: POA and Legal liability

Parkinson's is progressive and it seems like right now things are going relatively smoothly. I think it's a good opportunity to plan for the future-when the Parkinson's and dementia inevitably progresses. You need to have a plan and doing your research now is good idea. The recommendation for a car...
by hoops777
Sat Jan 06, 2018 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

Re: POA and Legal liability

Thanks dbr. My other brother who just passed away had a PHD in education and was a very detail oriented smart guy.I am surprised that he allowed this situation with what appears to be a lot of issues.I do not yet have POA because he had it without a backup. I had my brother convinced yesterday to se...
by hoops777
Sat Jan 06, 2018 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

Re: POA and Legal liability

I never thought about one of them being injured.Geez....it just keeps getting better.
by hoops777
Sat Jan 06, 2018 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1357

POA and Legal liability

A question I hate asking but need to. I am gaining POA for my 72 year old brother who has Parkinson’s and some dementia.He has been living in his own home with a non relative who has been in charge of his care along with hired workers from an agency.The non relative is a woman with a son in college ...
by hoops777
Fri Jan 05, 2018 4:41 pm
Forum: Investing - Theory, News & General
Topic: Small cap value vs. total market?
Replies: 103
Views: 10135

Re: Small cap value vs. total market?

Compare the world today to 50 years ago,including how investments are traded.I am not really buying the importance of past results on so many levels.It is a brave new world and I wish all of you luck.
by hoops777
Tue Jan 02, 2018 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Switching power of attorney
Replies: 19
Views: 714

Re: Switching power of attorney

earlyout wrote:
Tue Jan 02, 2018 8:59 pm
Okay. Does your state require separate documents or can they be combined? Oftentimes the agent named in one's healthcare POA is not the same person as the agent named in the financial POA.
Calif requires separate.
by hoops777
Tue Jan 02, 2018 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Switching power of attorney
Replies: 19
Views: 714

Re: Switching power of attorney

Whichever you chose to do, he will have to sign it in front of a notary. So make sure your brother understands what is happening beforehand and has a photo ID. Another place you might want to check to see if you were already designated as a back-up is to call his primary care doctor who should have...
by hoops777
Tue Jan 02, 2018 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Switching power of attorney
Replies: 19
Views: 714

Re: Switching power of attorney

Thank you.
by hoops777
Tue Jan 02, 2018 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Switching power of attorney
Replies: 19
Views: 714

Re: Switching power of attorney

Or maybe we should use legal zoom?
by hoops777
Tue Jan 02, 2018 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Switching power of attorney
Replies: 19
Views: 714

Re: Switching power of attorney

RocketLawyer.com has DPOA and health POA forms.I will sit down with him and go through all of the steps and questions.We are in California and he needs to separate financial and medical.
by hoops777
Tue Jan 02, 2018 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Switching power of attorney
Replies: 19
Views: 714

Re: Switching power of attorney

Thank you.
by hoops777
Tue Jan 02, 2018 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Switching power of attorney
Replies: 19
Views: 714

Re: Switching power of attorney

Yes my brother is legally competent and to my knowledge there is no back up at this time.
by hoops777
Tue Jan 02, 2018 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Switching power of attorney
Replies: 19
Views: 714

Switching power of attorney

I am trying to determine the easiest way to switch power of attorney.I am going to be in charge of caring for my older brother who is 72.My other brother who had power of attorney died unexpectedly last week and I have to figure this all out from scratch.
Thanks
by hoops777
Tue Jan 02, 2018 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Timing of Roth conversion
Replies: 2
Views: 404

Re: Timing of Roth conversion

Thank you.
by hoops777
Mon Jan 01, 2018 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Timing of Roth conversion
Replies: 2
Views: 404

Timing of Roth conversion

I am planning on doing Roth conversions the next 4 years of about 50,000 each.The money will be in brokered CDs or bond funds.Is it best to do it in January and if so do I pay the taxes immediately?
by hoops777
Mon Jan 01, 2018 2:27 pm
Forum: Investing - Help with Personal Investments
Topic: Investing money needed for assisted living
Replies: 28
Views: 1599

Re: Investing money needed for assisted living

The other issue is the place I would prefer he move to is not in the best location and I am sure would result in less visits from his friends because of the travel time.
by hoops777
Mon Jan 01, 2018 1:24 pm
Forum: Investing - Help with Personal Investments
Topic: Investing money needed for assisted living
Replies: 28
Views: 1599

Re: Investing money needed for assisted living

The way I look at it is whether he sales his home or not,the state or the facility is still getting the money.Right now the market in the Bay Area is at an all time high and who knows where it will be in 2 or 3 years.If we rent the home that would open up a lot of problems having to do with his uniq...
by hoops777
Sun Dec 31, 2017 7:00 pm
Forum: Investing - Help with Personal Investments
Topic: Investing money needed for assisted living
Replies: 28
Views: 1599

Re: Investing money needed for assisted living

BTW, you are required to re-certify the need for Medicaid every year, which is a formality if you have crossed every "T" and dotted every "I" when the initial application is filled out. Thank you for all of that information.For a lot of reasons,he needs to sell the house.So I need to find out if th...
by hoops777
Sun Dec 31, 2017 4:55 pm
Forum: Investing - Help with Personal Investments
Topic: Investing money needed for assisted living
Replies: 28
Views: 1599

Re: Investing money needed for assisted living

Thanks delamer.I have talked to two of the best facilities and I am waiting for a call back about what happens when he runs out of money.That is my main concern along with the investment portfolio.
by hoops777
Sun Dec 31, 2017 3:40 pm
Forum: Investing - Help with Personal Investments
Topic: Investing money needed for assisted living
Replies: 28
Views: 1599

Re: Investing money needed for assisted living

I have just started working on this.The facilities have different policies so not sure yet.
by hoops777
Sun Dec 31, 2017 1:30 pm
Forum: Investing - Help with Personal Investments
Topic: Investing money needed for assisted living
Replies: 28
Views: 1599

Re: Investing money needed for assisted living

Oh well,I expected a few more responses considering the seriousness of my question but thanks to the two of you who did reply.