Search found 2248 matches

by runner9
Mon Mar 18, 2024 7:07 pm
Forum: Personal Investments
Topic: Lucent Paper 1996 Certificate
Replies: 4
Views: 561

Re: Lucent Paper 1996 Certificate

Thanks for the idea.

We already created an account with Computershare for a different stock and Lucent wasn't there.

The certificate is dated 9/30/1996 and looks identical to this one except for date, number, address, etc.
https://www.bullmarketgifts.com/Lucent- ... /sc839.htm

The fact that missing money had at least one dividend for "Alcatel Lucent" is curious to me.
by runner9
Mon Mar 18, 2024 5:29 pm
Forum: Personal Investments
Topic: Lucent Paper 1996 Certificate
Replies: 4
Views: 561

Lucent Paper 1996 Certificate

My MIL has a paper Lucent stock certificate for 43 shares from 1996 when they were split from AT&T.

On missingmoney.com there was a dividend and a "cash fo" for Alcatel Lucent which makes me think maybe it was transferred when they were sold?

This PDF was somewhat helpful, I'm unsure if there's any value now: https://tinyurl.com/3sys96un

Just the paper for historical purposes I've seen online but only for 1-3 shares.

Any guidance appreciated. So much of what my MIL has is just as it was 15+ years ago with lots of missing paperwork in the middle.
by runner9
Sun Mar 17, 2024 2:06 pm
Forum: Personal Consumer Issues
Topic: Cameras, Binoculars and Jackets for Alaska Cruise
Replies: 21
Views: 1268

Re: Cameras, Binoculars and Jackets for Alaska Cruise

On Facebook, the group Alaskan Cruises on Princess, all capitalized, has a wealth of information
by runner9
Sun Mar 17, 2024 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Federal efile rejected * H&R Block
Replies: 33
Views: 4102

Re: Federal efile rejected * H&R Block

I had H&R Block filed state school district return (Ohio) rejected this year. Didn’t realize it was even a thing. I printed the 3 pages and mailed it certified.
by runner9
Sat Mar 16, 2024 10:46 am
Forum: Personal Investments
Topic: MIL's inherited Taxable (sell right away?)
Replies: 3
Views: 743

Re: MIL's inherited Taxable (sell right away?)

Thank you both. I changed this fund to put dividends and capital gains into the settlement fund.

We are still moving everything to Vanguard and have only had some preliminary conversations about timelines, risk, etc. More conversations, questionnaires and probably Boglehead posts will occur before we make changes to the accounts.
by runner9
Sat Mar 16, 2024 6:24 am
Forum: Personal Investments
Topic: MIL's inherited Taxable (sell right away?)
Replies: 3
Views: 743

MIL's inherited Taxable (sell right away?)

My MIL inherited 1/3 of three accounts at Edwards Jones. We've now moved her 1. taxable, 2. inherited IRA died 2021, and 3. inherited IRA died 2023 to Vanguard. Starting to just think about overall asset allocation as we get her few other investments to Vanguard so they're in one place. Overall will be about $200K, taxable is $38K, most of taxable is in a 12 month CD due in July. My question is the other fund in taxable: AMECX INCOME FUND OF AMERICA CL A It's $4K and up $250 since the original owner's death in November. We're going to want to sell it as we simplify and put everything in low fee, diversified Vanguard funds. I should turn off reinvest dividends and capital gains now, correct? She's in a low tax bracket, until we withdraw from...
by runner9
Wed Mar 06, 2024 7:57 pm
Forum: Personal Investments
Topic: Is this account a 403b? move or liquidate?
Replies: 6
Views: 548

Re: Is this account a 403b? move or liquidate?

OP here, I now notice that it says "Special Pay Plan" on the documents which google returns as a 403b.
https://www.corebridgefinancial.com/rs/ ... l-pay-plan
by runner9
Wed Mar 06, 2024 5:17 pm
Forum: Personal Investments
Topic: Is this account a 403b? move or liquidate?
Replies: 6
Views: 548

Is this account a 403b? move or liquidate?

I'm helping my MIL move inheritance and random accounts to Vanguard. One is at Corebridge, it was a payout of sick leave when she retired from teaching. State is Ohio if that matters. It's a little under $3K in "VC Conserv Growth Lifestyle" Under it includes "plus interest rate is guaranteed through 2023..." and "account interest rate is 1%, or the contract minimum rate" Number of shares is 789 and price is $3.55 There is paragraphs of small print/legalize that includes "if invested in VALIC variable annuity" and "Many fund families make payments to The Variable Annuity Life Insurance Company..." I have three photos with 80% of that statement to go off of. So, I'm assuming 403b. If so, what ...
by runner9
Wed Mar 06, 2024 5:08 pm
Forum: Personal Investments
Topic: Need medallion signature to move from UBS?
Replies: 3
Views: 680

Need medallion signature to move from UBS?

I'm helping my MIL move inheritance and random accounts all to Vanguard. One is an IRA with $20K at UBS. Vanguard needs paperwork and says to check with the current brokerage to see if medallion signature guarantee is required. Her broker isn't responsive. Their 84 page prospectus says "we may request a medallion signature guarantee"

Any ideas if medallion signature guarantee will be required? Thanks!
by runner9
Sat Mar 02, 2024 7:41 am
Forum: Personal Investments
Topic: Helping relative with Vanguard (acount access)
Replies: 3
Views: 448

Helping relative with Vanguard (acount access)

I'm going to be helping my MIL move small accounts she has various places to Vanguard. She has a laptop and is ok with technology.

Right now the plan is to use her laptop at our house with our wifi.

Is there a way for us both to log in and see her accounts once logged in? I'm guessing using her username and password isn't best.

Everything will be moved in-kind and she's 35 minutes drive away. Simplifying, even just telling me what on her screen could easily be an issue.

Suggestions appreciated.
by runner9
Sun Feb 25, 2024 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Edward Jones: Am I missing a tax form?
Replies: 1
Views: 267

Edward Jones: Am I missing a tax form?

Doing taxes for my wife's deceased 91 year old grandma who died in November, 2023. At Edward Jones she had her own IRA, an inherited IRA from her son and a taxable/"individual" account. The taxable account is mostly a 12 month CD that matured in July, 2023 and was renewed for 12 months. I have a 1099R for each IRA. She had distribution of $1700 from her IRA and $8600 from the inherited IRA. I then got a Consolidated 1099 Statement which lists 1099-INT interest income of $2900, 1099-DIV ordinary dividends of $400 and qualified dividends of $250. Then there's a section that lists "Interest Income-Taxable" for section heading and each monthly line is "Interest on credit balance" including one line that matches the...
by runner9
Sun Jan 07, 2024 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Real Estate Windfall Amid Family Drama
Replies: 96
Views: 16961

Re: Real Estate Windfall Amid Family Drama

I'd for sure insist on slowing down the process and checking with your own independent folks first (lawyer, realtor, city zoning office) or just say no. How much could you possible clear? IMO, not enough to make the hassle worth it.
by runner9
Sat Jan 06, 2024 9:50 am
Forum: Personal Investments
Topic: Taxable account: dividends to sweep or checking?
Replies: 15
Views: 1413

Re: Taxable account: dividends to sweep or checking?

Thank you. I’m understanding the first step for possible wash is selling for a loss in taxable?

Not selling for gain in taxable or Roth or for a loss in Roth. Correct?
by runner9
Sat Jan 06, 2024 9:34 am
Forum: Personal Investments
Topic: Taxable account: dividends to sweep or checking?
Replies: 15
Views: 1413

Re: Taxable account: dividends to sweep or checking?

2 of you have pointed out having VTSAX in taxable and in a Roth, I'm sorry but I'm missing the issue? A wash is only two similar funds in taxable, correct?
by runner9
Sat Jan 06, 2024 8:35 am
Forum: Personal Investments
Topic: Taxable account: dividends to sweep or checking?
Replies: 15
Views: 1413

Taxable account: dividends to sweep or checking?

We just opened a taxable account after filling our Roth IRAs and 457bs fully for several years and planning to continue doing so. Put $10K in Vanguard Total Stock Market with no set plan for the money. It's not emergency fund, maybe it's college in 5-9 years or retirement in 15+, who knows. I read the wiki and think it makes sense to not auto reinvest the dividends as it would create more tax lots. (https://www.bogleheads.org/wiki/Reinvesting_dividends_in_a_taxable_account) I went in to Vanguard online to check the setting and it of course offers to put dividends in the sweep account or transfer to checking which I hadn't considered. We don't need the dividends to live on. If it goes to sweep I'm just reinvesting it but probably slower than...
by runner9
Wed Jan 03, 2024 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: CD in inherited taxable account with "estate features"
Replies: 3
Views: 363

Re: CD in inherited taxable account with "estate features"

November statement says Maturity Value 102,000.00; Value* 101,818.44 Rate of Return^ 1.61%

* The values shown for CDs represent estimated values if sold prior to maturity. Actual prices may be higher or lower. Generally if held until maturity, the maturity value plus any accrued interest due will be credited to your account.

^Your rate of return for each individual asset above is as of [statement date]. Returns greater than 12 months are annualized.

The October statement says value is 101,668.50 and rate of return is 1.05%.
by runner9
Wed Jan 03, 2024 10:00 am
Forum: Personal Finance (Not Investing)
Topic: CD in inherited taxable account with "estate features"
Replies: 3
Views: 363

CD in inherited taxable account with "estate features"

Helping my MIL who is 1 of 3 beneficiaries for accounts from her mother. One is a taxable account that is mostly in a "Wells Fargo Bk N A Sioux Falls 5.30%" Certificate of Deposit that matures in July, 2024. She's moving everything to Vanguard after EJ splits the accounts to the three daughters. I asked how a CD could be split between 3 daughters. It was explained that the Certificate of Deposit has "estate features" that could be called but the CD is "trading over face value" and since it's trading above par and due in 7 months it might take up to 3 months to be called in for estate features so she recommended leaving it and is unsure if it could be transferred to another brokerage as is. She said it has units...
by runner9
Wed Jan 03, 2024 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Edward Jones requiring meeting to set up inherited IRA
Replies: 40
Views: 5403

Re: Edward Jones requiring meeting to set up inherited IRA

Thank you all. Meeting went well, I didn't ask any of my questions except what the process going forward is. Of course it won't start until after all 3 sisters meet with them. The only part referred to "as required by law" during the meeting was just the standard IRS questions of income, net worth, employer, etc.

I think she explained the options for a CD in a taxable account well but I do need to research that more and will start another thread for that. Thanks!
by runner9
Tue Jan 02, 2024 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Edward Jones requiring meeting to set up inherited IRA
Replies: 40
Views: 5403

Re: Edward Jones requiring meeting to set up inherited IRA

OP here, meeting is tomorrow/Wednesday morning.

Questions I currently am planning to ask are:

1. Does to the 10 year rule apply or life expectancy? If you have no idea that's fine. Regulation 87 FR 105044 pg 22 (from https://bogleheads.org/forum/viewtopic.php?t=419742)

2. What law requires this meeting? Is it in IRS 590b or in another law of the US?

3. How long until electronic paperwork is e-mailed to sign? (meeting is on zoom)
How long will it take to set up the Inherited IRAs after paperwork is signed?
Do we have to set up an online account to get account numbers and estimated value or is there a better/easier way?
by runner9
Mon Jan 01, 2024 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Transfer individual stock to Vanguard
Replies: 3
Views: 537

Transfer individual stock to Vanguard

Helping my MIL who has accounts at a few places. Plan is to move everything to Vanguard.

She has a few individual stocks, 2-4 different companies. Can these easily be moved to Vanguard? I know the cost basis transferring might be an issue.

She has no online accounts, just paper statements and I think getting everything to Vanguard will help have it in one place, then we can discuss the taxes of selling to diversity, etc. I know one has paperwork from AST-American Stock Transfer & Trust, Brooklyn NY.

If this makes sense and is doable, which option on transferring type of account, Individual (general investing)?
https://personal1.vanguard.com/mmx-move ... count-type

Thanks!
by runner9
Sun Dec 31, 2023 8:04 am
Forum: Personal Investments
Topic: Best Domestic Fund at Ohio457
Replies: 6
Views: 602

Re: Best Domestic Fund at Ohio457

Thank you all.
by runner9
Sat Dec 30, 2023 5:47 pm
Forum: Personal Investments
Topic: Best Domestic Fund at Ohio457
Replies: 6
Views: 602

Best Domestic Fund at Ohio457

My wife and I both contribute the max to a 457b for each of us at Ohio 457. I used to have it all in a Vanguard international fund, with the domestic in our Roth IRAs. 457 changed the fund and now it's in this fund which isn't a publicly traded fund and doesn't have dividends. https://cdn.ohio457.org/contentpdf/Non-US%20Company%20Stock%20Index.pdf I don't see a better international fund at Ohio457. Regardless, I'm thinking I'm going to have to add a domestic fund as contributions at $23K times 2 outpaces $7K times 2 annually by a lot. I wish there was something similar to VTSAX-Total Stock Market but there isn't. I don't really want to have to add both a large and small/mid fund as that goes against simplicity but I'm leaning to splitting b...
by runner9
Thu Dec 28, 2023 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Inherited IRA twice, 20 years younger, anything special?
Replies: 10
Views: 1380

Re: Inherited IRA twice, 20 years younger, anything special?

Thank you Alan S. The IRA was transferred from Wells Fargo to the mother's new Edward Jones account on 3/30/2022. I managed her finances with her full decision making from January 2023 until her death in late November, 2023. My understanding was that it had to be emptied within 10 years but no RMD was required annually. This seems to be what Alan S. is saying: "Mom could have opted OUT OF EDB treatment and into the 10 year rule. In that case, the inherited 401k would not have been required to distribute a beneficiary RMD prior to the direct rollover, and the 10 year rule would transfer to the inherited IRA. In that case, no annual beneficiary RMDs, but the inherited IRA would have to be drained by 2031." In which case my understan...
by runner9
Thu Dec 28, 2023 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Inherited IRA twice, 20 years younger, anything special?
Replies: 10
Views: 1380

Re: Inherited IRA twice, 20 years younger, anything special?

Thanks. I believe the plan administer didn't require RMD based on the 10 year rule that's still on the IRA website. At least that's how I interpreted it in early 2023 when I started helping the now deceased 91 year old mother of the original account owner. https://www.irs.gov/publications/p590b#en_US_2022_publink100090130 "The 10-year rule requires the IRA beneficiaries who are not taking life expectancy payments to withdraw the entire balance of the IRA by December 31 of the year containing the 10th anniversary of the owner’s death. For example, if the owner died in 2022, the beneficiary would have to fully distribute the IRA by December 31, 2032. The beneficiary is allowed, but not required, to take distributions prior to that date.&...
by runner9
Thu Dec 28, 2023 5:20 am
Forum: Personal Finance (Not Investing)
Topic: Inherited IRA twice, 20 years younger, anything special?
Replies: 10
Views: 1380

Re: Inherited IRA twice, 20 years younger, anything special?

Thanks. My understanding is the IRS has passed on requiring RMD in 2022 and 2023 because of how late their regulations were announced.
by runner9
Tue Dec 26, 2023 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Inherited IRA twice, 20 years younger, anything special?
Replies: 10
Views: 1380

Inherited IRA twice, 20 years younger, anything special?

I've been reading about the new 10 year rules and the delay in required RMD for inherited IRAs. Some mention if within 10 years of the deceased, etc. and I just want to make sure I'm not missing anything. A man dies in December 2021 at age 62. He leaves his 401k to his mother, age 89. It is re-titled as an inherited IRA, Man's name c/o mother's name. Value of $349K when transferred. ($10K was withdrawn in 2022 and $8,500 in 2023) Mother dies in November, 2023 at age 91 and account is split to her three daughters, ages 71, 69 and 67. We have to meet with Edward Jones investment person to set up inherited accounts and will then transfer them to Vanguard. Who knows what they'll try to suggest or say. I've read these articles: https://www.morni...
by runner9
Wed Dec 20, 2023 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Edward Jones requiring meeting to set up inherited IRA
Replies: 40
Views: 5403

Re: Edward Jones requiring meeting to set up inherited IRA

Edward Jones Advisor told my MIL that “she explained that because I am a beneficiary she is obligated by law to explain things to me.”
by runner9
Tue Dec 19, 2023 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Edward Jones requiring meeting to set up inherited IRA
Replies: 40
Views: 5403

Re: Edward Jones requiring meeting to set up inherited IRA

Thanks. We did a three way call with MIL with secretary which did move the Jan 3 to zoom.

Is selling everything first the best option or moving in-kind except for what it’s not possible?
by runner9
Tue Dec 19, 2023 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Edward Jones requiring meeting to set up inherited IRA
Replies: 40
Views: 5403

Edward Jones requiring meeting to set up inherited IRA

My MIL inherited 1/3 of two different IRAs and a taxable account from her mother that are at Edward Jones. She's on board with moving to Vanguard. Edward Jones office was given a death certificate on Dec 3 and told my wife and I (executors, not beneficiaries) they had all they needed and, when asked, they would contact the beneficiaries directly. I assumed this meant in the mail but not really my business as I hadn't discussed or agreed to help my MIL at the time. Edward Jones calls for the first time yesterday, two full weeks after getting death certificate, and asks each beneficiary about setting up a meeting. No dates are discussed, each daughter says after Christmas. At my urging my MIL calls back today to say she will be transferring t...
by runner9
Mon Dec 18, 2023 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Need simple Expense Ratio Fee Explaination
Replies: 7
Views: 677

Re: Need simple Expense Ratio Fee Explaination

Thank you. I think the video, Rule 7, will be helpful.

Again, this is to help my MIL. I understand fees well:)
by runner9
Mon Dec 18, 2023 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Need simple Expense Ratio Fee Explaination
Replies: 7
Views: 677

Re: Need simple Expense Ratio Fee Explaination

Thanks! Why didn't I think to look at Vanguard?!?!?

I thought this one isn't to bad or complicated: https://time.com/personal-finance/artic ... beginners/
by runner9
Mon Dec 18, 2023 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Need simple Expense Ratio Fee Explaination
Replies: 7
Views: 677

Need simple Expense Ratio Fee Explaination

I've just started helping my MIL with her finances and getting inheritence out of Edward Jones.

She's on board but I agreed to send her a few links/articles/videos on expense ratios and fees.

I'm looking for SIMPLE. I've found many that are too complex and the wiki and this forum haven't lead me to a SIMPLE explanation or video.

Thanks!
by runner9
Wed Dec 06, 2023 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Finding financial and tax advisors for relatives
Replies: 6
Views: 1012

Re: Finding financial and tax advisors for relatives

bsteiner wrote: Wed Dec 06, 2023 8:07 am Since each one's share is $148,000, how much advice to they need or want and how much advice are they willing to pay for?
Honestly, the two that have talked to me (separately) act like it's more money than they could imagine. My wife and I are 25 years younger and have several times that saved. I don't know what else they have saved, I'm guessing more than nothing but not a lot.
by runner9
Tue Dec 05, 2023 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Finding financial and tax advisors for relatives
Replies: 6
Views: 1012

Re: Finding financial and tax advisors for relatives

Thanks. Through that link I found two sites with free listings and have a better understanding of the scope and cost of such advice.

https://www.napfa.org/find-an-advisor#

https://www.garrettplanningnetwork.com/
by runner9
Mon Dec 04, 2023 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Finding financial and tax advisors for relatives
Replies: 6
Views: 1012

Finding financial and tax advisors for relatives

A few weeks ago my wife's grandma, who we had been taking of financial and health for passed away at 91. She had about $444,000 in 3 accounts at Edward Jones. (We debated discussing moving them but decided against it.) Most are an inherited IRA that I believe needs to be empty within 10 years of her son's death, in December, 2021. Some is in her own IRA and some in a taxable account. Her three daughters are beneficiaries, one is my MIL, two are my wife's aunts. Two have asked me a bit about if they should keep the funds at Edwards Jones, the tax implications, etc. I for sure don't want to commit to helping my aunt this much and don't really want to help my MIL. I've spent 11 months simplifying and managing grandma's and don't regret it for ...
by runner9
Fri Nov 24, 2023 9:49 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2023 software offer
Replies: 246
Views: 38134

Re: H&R Block 2023 software offer

Buying the Deluxe on Amazon for $24.99 https://www.amazon.com/gp/product/B0CJCWHXH2/
by runner9
Sat Nov 11, 2023 3:43 pm
Forum: Personal Consumer Issues
Topic: Fidelity Rewards CC WITHOUT a CMA/Brokerage?
Replies: 24
Views: 3137

Re: Fidelity Rewards CC WITHOUT a CMA/Brokerage?

Every month I transfer the balance deposited from the Fidelity credit card rewards into the Fidelity account into our checking account.

The fidelity balance is between zero and $0.03 if I forget of a while and it earns interest.
by runner9
Sun Oct 15, 2023 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Planning estate for 91 year old
Replies: 15
Views: 2003

Re: Planning estate for 91 year old

UPDATE: Thank you all for the advice. Yesterday all the women in the extended family were present or represented and all, or at least most, of the valuable and/or sentimental jewelry was given away in rounds. It was a mostly upbeat afternoon and Grandma is keeping a few pieces to wear but we know who they go to when she passes away. I talked to the lawyer who wrote up her current will, etc. We talked though the checking/savings and the risk of the daughter just taking it. He agreed with me that as long as that doesn't happen we're avoiding probate and then just use that account as the de facto estate account for any final expenses. I feel better from an estate side now than I did two weeks ago. Life will get more difficult the next several...
by runner9
Sun Oct 08, 2023 6:08 pm
Forum: Personal Consumer Issues
Topic: Google Login redirects to Microsoft
Replies: 5
Views: 814

Re: Google Login redirects to Microsoft

I can't login to that profile on the affected computer but did log into a different profile and turned off sync. Still can't log into the one I need:( Thanks though.
by runner9
Sun Oct 08, 2023 4:14 pm
Forum: Personal Consumer Issues
Topic: Google Login redirects to Microsoft
Replies: 5
Views: 814

Google Login redirects to Microsoft

A few weeks ago when logging into a google drive on firefox I kept being redirected to a microsoft login page. There is no microsoft account with this username and it didn't make any sense. Some google searches led to delete cookies, browsing history, etc. Something worked, but only for a few days. I decided to just access the google drive on a different browser. Fast forward to today and my google chrome browser profile says paused, meaning it's not sycing across devices. I clicked to login and got the same microsoft redirection. I deleted the profile, then uninstalled chrome and reinstalled. Same issue. Now I can't access my chrome bookmarks, passwords, etc that are in that profile on that computer. I don't want to take more stabs in the ...
by runner9
Sun Oct 01, 2023 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Planning estate for 91 year old
Replies: 15
Views: 2003

Re: Planning estate for 91 year old

Thank you all for the replies.

If not using probate, what is the preferred way to have checking/savings work after death? Obviously, immediate bills need to be paid.

Let's say the daughter does as asked and "gifts" it to the estate. How is this titled if there's no probate?
by runner9
Thu Sep 28, 2023 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Planning estate for 91 year old
Replies: 15
Views: 2003

Re: Planning estate for 91 year old

Thank you all. They are joint owners on the checking and savings. It was suggested earlier and I discussed with her that the daughter could legally do whatever she wants with the money after her passing.

I believe she'll move it as we see fit. If so what title do we put on the account? There's about 60K between checking and savings right now.
by runner9
Thu Sep 28, 2023 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Planning estate for 91 year old
Replies: 15
Views: 2003

Planning estate for 91 year old

Thank you for all the prior advice as my spouse and I have been helping her 91 year old grandma the past 10 months. We are the executors of her estate and I'm trying to envision our exact steps. I've read a few estate planning books and think we've helped her take many steps to simply her life as well as to avoid Probate. I believe we've done so but I'm not sure. She's currently in another health scare, so a good time to review and get ducks in a row. EDIT: State is Ohio Will splits everything among her 3 children. -She has no car or real estate. -Retirement and inherited IRA all list her 3 children as equal beneficiaries -Checking and Savings currently have one daughter as joint owners . When she dies we expect that daughter to transfer th...
by runner9
Tue Jul 04, 2023 9:09 am
Forum: Personal Consumer Issues
Topic: Recommended AppleTV+ Shows
Replies: 48
Views: 3444

Re: Recommended AppleTV+ Shows

Not repeating what's been mentioned repeatedly:

CODA-stands for Children of Deaf Adults, a great movie (won Oscar for Best Picture)

Still: A Michael J Fox Story-a documentary about his life and Parkinson’s.

We found both to be excellent.
by runner9
Wed Jun 28, 2023 5:23 am
Forum: Personal Investments
Topic: Portfolio review for 91 year old relative
Replies: 18
Views: 2414

Re: Portfolio review for 91 year old relative

Thank you. The facility is completely independent, no medical check to live there, no medical services provided by the management except pull cords in each room, they'll respond if you fall and help you up or call 911.
by runner9
Tue Jun 27, 2023 3:16 pm
Forum: Personal Investments
Topic: Portfolio review for 91 year old relative
Replies: 18
Views: 2414

Re: Portfolio review for 91 year old relative

I don't see how her federal tax can be zero. Did she take a 2023 RMD yet for the 401K and IRAs (hopefully any distributions were coded as RMD if she had not taken an RMD yet)? For a 90 year old, that will require just over 8% of the sum of those balances. So I would expect she has about $337K of value subject to RMD (what matters is the Dec 31st balance last year). At 8.2%, this would require $27,675 in RMD withdraws. Her standard deduction will be $14,700 so that leaves $13,00 subject to tax at 10% or 12% rates (and I doubt you have enough in medical expenses to get over the standard deduction). Then some of her social security may be taxed. Bank and CD interest will be taxed. Dividend income may not be taxed if she can keep her income be...
by runner9
Tue Jun 27, 2023 10:25 am
Forum: Personal Investments
Topic: Portfolio review for 91 year old relative
Replies: 18
Views: 2414

Re: Portfolio review for 91 year old relative

Thank you all for your responses. Relative was married to first husband at 19 and widowed at 79. She married second husband at 80 and was widowed at 90. I’m assuming SSA is on 1st husband’s work record but I guess I don’t know that for sure. Spousal benefits are at 50%; widow's benefits are at 100%. She may be collecting widow's benefits at 100% from her first husband but it would be worthwhile to check to see if a) that is true or b) if her 100% benefits from second husband would be more. This is not something that happens automatically at SSA. Thanks, how would we go about checking this? I know I have SSA annual statement for 2nd husband, possibly the last 1 or 2 for 1st husband. We're in the process of setting up online SSA access. (Cha...
by runner9
Mon Jun 26, 2023 8:41 am
Forum: Personal Investments
Topic: Portfolio review for 91 year old relative
Replies: 18
Views: 2414

Re: Portfolio review for 91 year old relative

Thank you all for your responses. Relative was married to first husband at 19 and widowed at 79. She married second husband at 80 and was widowed at 90. I’m assuming SSA is on 1st husband’s work record but I guess I don’t know that for sure. This has me thinking about medical expenses. My understanding is Medicare, taken from social security doesn’t count. She also pays $486 every two months for supplemental insurance, or $2916. In 2023 she’s spent $21 on direct doctor bills. Total RX costs this year are $719 (doesn’t currently have Part D) plus she spent $4,900 on new hearing aids and $173 on new glasses. These costs total $8,708 thus far, with a guess of $800 in additional prescription costs the rest of 2023. This would appear higher than...
by runner9
Sun Jun 25, 2023 6:16 pm
Forum: Personal Investments
Topic: Portfolio review for 91 year old relative
Replies: 18
Views: 2414

Re: Portfolio review for 91 year old relative

stan1 wrote: Sun Jun 25, 2023 5:16 pm Is the inherited IRA from her husband? If so a spousal inherited IRA does not have a 10 year withdrawal requirement. You would take the yearly RMD.
No, it's from one of her children who passed away.