Search found 1946 matches
- Tue Mar 07, 2023 5:14 pm
- Forum: Personal Finance (Not Investing)
- Topic: Inheritance and tax returns for decedent and beneficaries.
- Replies: 2
- Views: 611
Re: Inheritance and tax returns for decedent and beneficaries.
cas thank you for your reply, I updated my original post to add what I know now, but my original Q still stands. Hopefully the additional info added will result in an answer or more info that would help us. Thank u!
- Thu Feb 16, 2023 12:30 pm
- Forum: Personal Finance (Not Investing)
- Topic: Inheritance and tax returns for decedent and beneficaries.
- Replies: 2
- Views: 611
Inheritance and tax returns for decedent and beneficaries.
Hi updating this post to add info and hoping to get more replies from the all knowing Bogleheads. Thank you in advance. Spouse requested I post the following for your advice. Spouse's second parent passed away early 2022, adult children were the heirs, and everything inherited in in parent's revocable living trust was split evenly between them without issue and completed before end of 2022. The trust was titled in parent's name, but don't know if tied to parent's SS # or tax ID. Parent had a taxable investment account with EJ in the trust and trustee (not an executor) who is one of the siblings asked for that to be distributed right away. Financial advisor tried to persuade all to stay with him, then dawdled and by time the taxable investme...
- Tue Jan 31, 2023 11:09 am
- Forum: Personal Consumer Issues
- Topic: Where to buy bulk moving/storage boxes?
- Replies: 18
- Views: 1259
- Sat Jan 28, 2023 12:51 pm
- Forum: Personal Consumer Issues
- Topic: January Gas Bill - Wowza
- Replies: 77
- Views: 9181
Re: January Gas Bill - Wowza
This thread would be more helpful if everyone amended their posts to indicate where they live, at least the state.
- Mon Jan 16, 2023 4:02 pm
- Forum: Personal Consumer Issues
- Topic: insurance claim for burst water heater?
- Replies: 16
- Views: 1485
Re: insurance claim for burst water heater?
Hmmm idk, but I'll ask. Thanks for the suggestion. I still think I'd prefer it up b/c not a lot of room in the garage especially w the cars in there, one has to part right in front of it and the door to outside is just past the corner it's in so barely enough distance to walk in front of it w the cars in there.
And thanks to all the others, I might push back a bit on that drywall bid, but like I said similar across 3 different contractors. The insulation will be redone too.
- Mon Jan 16, 2023 4:01 pm
- Forum: Personal Consumer Issues
- Topic: insurance claim for burst water heater?
- Replies: 16
- Views: 1485
Re: insurance claim for burst water heater?
Hmmm idk, but I'll ask. Thanks for the suggestion. I still think I'd prefer it up b/c not a lot of room in the garage especially w the cars in there, one has to part right in front of it and the door to outside is just past the corner it's in so barely enough distance to walk in front of it w the cars in there.
And thanks to all the others, I might push back a bit on that drywall bid, but like I said similar across 3 different contractors. The insulation will be redone too.
- Mon Jan 16, 2023 1:28 pm
- Forum: Personal Consumer Issues
- Topic: insurance claim for burst water heater?
- Replies: 16
- Views: 1485
Re: insurance claim for burst water heater?
That drywall estimate sounds ridiculous. How big is the damaged area? It shouldn't take 1 or 2 guys more than a day to do what im imagining and less than a couple hundred in materials. Drywalling a garage doesn't need to be done perfectly so I'd rate it about a 4/10 in difficulty. That's what happens when one hires a water mitigation specialist who removes and disposes of the wet drywall and insulation, suctions up any residual water, "rents" you some fans and a dehumidifier or two for a few days, measures the humidity, may (or may not) clean the studs and bottom plate, and then installs new insulation and drywall. Not everyone has the interest, time or DIY skills to do that work. Personally, I would have been able to do the demo...
- Mon Jan 16, 2023 1:24 pm
- Forum: Personal Consumer Issues
- Topic: insurance claim for burst water heater?
- Replies: 16
- Views: 1485
Re: insurance claim for burst water heater?
That drywall estimate sounds ridiculous. How big is the damaged area? It shouldn't take 1 or 2 guys more than a day to do what im imagining and less than a couple hundred in materials. Drywalling a garage doesn't need to be done perfectly so I'd rate it about a 4/10 in difficulty. Had 3 estimates from plumbers and water mitigation companies, all about the same. Maybe the drywall is higher than what you'd expect because of the dry out process and set up and that both the plumber and dry wallers from water mitigation have to come back more than once. Idk,. I don't know where you live, but everything in S CA is a fortune and of course it's always way more than just what materials cost. The heater and install is about 2K, but not sure if that ...
- Mon Jan 16, 2023 12:37 pm
- Forum: Personal Consumer Issues
- Topic: insurance claim for burst water heater?
- Replies: 16
- Views: 1485
Re: insurance claim for burst water heater?
You should be able to wait and see what the insurance company will pay, without following-up with a claim. More information is useful. Just because they offer doesn't mean you need to accept their payment. You can also check on what the hit would be to your annual insurance bill if you file a claim equal to the estimate. I had a $4,000 claim and our homeowner's insurance went up... we paid about an extra $4,000 over the next 3 or 4 years, so it was a wash. I've seen on here and come to believe that homeowner's insurance might should be considered a catastrophic plan, and go with a $10,000 deductible, but it depends on what one is comfortable with. Oh, don't discount the possibility of mold growth here. Thank you for the reply. How do you &...
- Mon Jan 16, 2023 11:57 am
- Forum: Personal Consumer Issues
- Topic: insurance claim for burst water heater?
- Replies: 16
- Views: 1485
insurance claim for burst water heater?
Our water heater burst, water ruined the dry walled raised platform it sits on and drywall on surrounding walls about halfway up in the corner where it sits in the garage. Wasn't going to put in a claim w insurance until found out it's about 6K in total, wasn't expecting that, but most cost due to the drywall damage. We got bids from plumbers and water mitigation companies right away and hired one. Currently the dry wall is ripped out and drying out behind plastic enclosure w fan and dehumidifier for 4 days so far, water heater set up on garage floor so we have water until it can be moved in place after the drywall is repaired which can't be done until insurance co inspects. They don't work weekends or holidays (of course) and don't have an...
- Mon Jan 02, 2023 4:46 pm
- Forum: Personal Consumer Issues
- Topic: What have you baked recently?
- Replies: 538
- Views: 81243
Re: What have you baked recently?
Thanks LadyGeek! I don’t do much baking w yeast, but may have to branch out now that have more time.
- Sun Jan 01, 2023 9:17 pm
- Forum: Personal Consumer Issues
- Topic: What have you baked recently?
- Replies: 538
- Views: 81243
Re: What have you baked recently?
LadyGeek would love to have your white pizza recipe if it’s double crust and to know your cheese blend. Old Forge joints guard their secret blends. Thanks!
- Sun Jan 01, 2023 8:38 pm
- Forum: Personal Consumer Issues
- Topic: What have you baked recently?
- Replies: 538
- Views: 81243
Re: What have you baked recently?
For New Year's Eve - Fugazzeta - Stuffed Argentinian-Style Pizza Recipe . The recipe doesn't specify the type of onion. Based on similar recipes, I used a sweet onion. The recipe was a hit with my friends. One friend who doesn't like onions appreciated that this recipe soaks the onions in salt water to reduce the intensity. It made a difference. --------------------- For some reason, any pizza dough I make with my KitchenAid mixer never rises. No clue why. This dough was no exception. I was able to use the dough, but it was flat. My friends didn't notice. I have no problem getting my no-knead pizza and dough to rise, but not pizza dough made with a mixer. I use a KitchenAid with a dough hook. Does anyone have any insight on what's wrong? C...
- Mon Sep 05, 2022 3:00 pm
- Forum: Personal Consumer Issues
- Topic: swimming pool electrical problem, please help troubleshoot
- Replies: 11
- Views: 1065
swimming pool electrical problem, please help troubleshoot
Hi All, Have an inground swimming pool. Today went out to check the chemicals and the filter wasn't running. It's on a timer and didn't turn on as usual. Oh great, and DH who handles this stuff is out of town and unreachable so trying to troubleshoot this myself and could use some help please. Everything was running fine yesterday. Don't think this has ever happened before. I checked the electrical panel on the house and the breaker for the pool was tripped, showed red. Turned it on and off and second time off and on, and both times right away tripped again. Then went to pool equipment and turned off power there and unset all the timer tabs. Returned to breaker panel and tried again, flipped the breaker off to on and it tripped again. Dang,...
- Sun Aug 14, 2022 7:31 pm
- Forum: Investing - Theory, News & General
- Topic: Lump Sum pension then vs now ?
- Replies: 4
- Views: 1307
Re: Lump Sum pension then vs now ?
My lump sum was based on the IRS segment interest rates that reflect short, mid, and longer term rates rather than GATT (30 year Treasury rates). These change monthly and my company reset lump sums once each year based on July rates. My own lump sum was based on July 2020, fortuitous for me. At one time there was a calculator available online, but it is gone now. My own rough calculations indicate that comparing May 2022 rates (3.23% 4.59% 4.69%) vs July 2020 rates (0.59% 2.25% 3.01%) for my actual retirement situation at ~61, my lump sum would have been reduced by about 23.5%. Just found this thread. Wow it would nave been ~23.5% less?! If situation was reversed and you were retiring when the lump sum was reduced that much, would u take t...
- Sat Aug 06, 2022 5:36 pm
- Forum: Personal Investments
- Topic: Inherited My Dad's IRA and His Financial Advisor. Please Help
- Replies: 61
- Views: 8450
Re: Inherited My Dad's IRA and His Financial Advisor. Please Help
Actually, you as the beneficiary cannot make transactions in the deceased's IRA at all. Once notified of the account owner's death, the custodian (TDA, Vanguard, Fido, etc.) will immediately freeze the account. (TDA also changed the account number. I don't know if that's industry standard or not.) I have seen it done both ways. But when all is said and done, you will find it better if new accounts were created for the beneficiary/ies because that maintains the history of which transactions were done under each SSN/ EIN/ TIN. Come tax time, it will be easier to prepare tax returns for the deceased, the OP, and possibly the trust, if the tax forms arrive next January under the correct number. If you overwrite the account title and SSN field,...
- Sat Aug 06, 2022 4:58 pm
- Forum: Personal Investments
- Topic: IRMAA Question
- Replies: 21
- Views: 3524
Re: IRMAA Question
Thank u Chip Munk! Will check out those links
- Sat Aug 06, 2022 3:26 pm
- Forum: Personal Investments
- Topic: Inherited My Dad's IRA and His Financial Advisor. Please Help
- Replies: 61
- Views: 8450
Re: Inherited My Dad's IRA and His Financial Advisor. Please Help
Actually, you as the beneficiary cannot make transactions in the deceased's IRA at all. Once notified of the account owner's death, the custodian (TDA, Vanguard, Fido, etc.) will immediately freeze the account. (TDA also changed the account number. I don't know if that's industry standard or not.) I have seen it done both ways. But when all is said and done, you will find it better if new accounts were created for the beneficiary/ies because that maintains the history of which transactions were done under each SSN/ EIN/ TIN. Come tax time, it will be easier to prepare tax returns for the deceased, the OP, and possibly the trust, if the tax forms arrive next January under the correct number. If you overwrite the account title and SSN field,...
- Sat Aug 06, 2022 3:15 pm
- Forum: Personal Investments
- Topic: IRMAA Question
- Replies: 21
- Views: 3524
Re: IRMAA Question
You haven't indicated if your current income is partially based on either you or your spouse still working. If that is the case, then you might not need to worry about current income limits for IRMAA. This is a very common occurrence. Your first Medicare premium will be based on your income from two years previous. So when you get your first billing statement for the Medicare premium, you then file an appeal using Form SSA-44, Life Changing Event. So if your income is reduced below the IRMAA limit in the year you start Medicare because you stopped working, the previous two years income is ignored. https://www.quarles.com/content/uploads/2020/10/ssa-44-ext.pdf It will take a few months, but eventually Medicare will send you a refund check i...
- Fri Aug 05, 2022 2:56 pm
- Forum: Personal Consumer Issues
- Topic: How to say "No" for an extended warranty?
- Replies: 117
- Views: 7479
Re: How to say "No" for an extended warranty?
Easy. Just say NO, not interested. Thanks. What's so hard about that?
Who cares what his reaction is.
If he tried to continue, I would say adamantly, I just said NO, not interested, I don't even want to hear about it.
He's got a job to do just like everyone else so can't blame him for trying to make a sale, you can only blame yourself if you start giving excuses he can counter, and you get dragged down into an awkward convo. That's how people end up buying timeshares.
Who cares what his reaction is.
If he tried to continue, I would say adamantly, I just said NO, not interested, I don't even want to hear about it.
He's got a job to do just like everyone else so can't blame him for trying to make a sale, you can only blame yourself if you start giving excuses he can counter, and you get dragged down into an awkward convo. That's how people end up buying timeshares.
- Tue Aug 02, 2022 5:54 am
- Forum: Personal Finance (Not Investing)
- Topic: Geico Homeowner Insurance Increases
- Replies: 74
- Views: 9689
Re: Geico Homeowner Insurance Increases
OP here. I tried to get a quote from Mercury Insurance. They wouldn't give me one because my house borders a "fire hazard zone". This is a power line easement to Southern California Edison that is natural vegetation and borders the side of my house. There have been one or two insurance companies over the years (since 1991) that have refused to underwrite my home insurance. Geico/Travelers had no problem with it 3 years ago, but they now apparently want drastically higher rates for coverage. .. OP here. So I got some quotes. Below is a summary. Geico/Travelers renewal $5,062 = $3345 + $1717 [EQ] Geico/Travelers renewal $4,864 = $3147 + $1717 [EQ] with 5k deductible Costco/CONNECT coverage denied Mercury Insurance coverage denied P...
- Mon Aug 01, 2022 6:43 pm
- Forum: Personal Finance (Not Investing)
- Topic: Pension Pre-PPA interest rate
- Replies: 6
- Views: 746
Re: Pension Pre-PPA interest rate
Hey ColoradoGuy, wondering if you made a decision or was able to get any more info to help you decide. Now that interest rates are up is the lump sum still a better option than the monthly payments, or are you not interested in monthly payments anyway? I too will have a non COLA'd pension, but will not be taking before Apr 2023, maybe 2024. Haven't really looked into the details yet, but called today to get some info and run some calculations if I took monthly. Told too far out to predict the lump sum, but she maed a comment how much the rising interest rates have affected the lump sum payments compared to last, "drop in the thousands" for many. She mentioned final calc of lump sum based on rates from 2 months prior, "minimum...
- Sat Jul 23, 2022 2:54 pm
- Forum: Personal Finance (Not Investing)
- Topic: Separate property and "fairness" in marriage
- Replies: 129
- Views: 13766
Re: Separate property and "fairness" in marriage
I know that, but that's not what I'm talking about and it was just a joking aside anyway. Meaning I didn't receive an inheritance of my own to add to the marital pot... or not, and assume same for OP since not mentioned. I amended my last sentence of that post in case anyone else misunderstood.
- Sat Jul 23, 2022 2:38 pm
- Forum: Personal Finance (Not Investing)
- Topic: Separate property and "fairness" in marriage
- Replies: 129
- Views: 13766
Re: Separate property and "fairness" in marriage
Spouse and I are married over 30 years. Finances always combined, both have/had careers, not necessarily same salary or benefits, but we've been all in together and never any issues or need to set limits, allowances, etc. That was the case even when single income at one time or another. We saved for home, purchases, retirement, etc. However, an inheritance is different and I'm kind of surprised to see so many in this thread say all should be combined when many other threads warn keep inheritance is separate. My spouse will soon have an inheritance and whether chooses to keep separate or combine that's my spouses' decision once it arrives. Spouse's parents saved for their children, that's how I see it and I respect that. All I care about is ...
- Sat Jul 23, 2022 1:52 pm
- Forum: Personal Consumer Issues
- Topic: Renting out backyard pool to strangers
- Replies: 113
- Views: 11845
Re: Renting out backyard pool to strangers
I thought this was going to be a joke post, but you're serious.
NO WAY for all the obvious reasons mentioned!
Our yard is fenced, and the fewer people that know we have a pool the better, especially in the neighborhood.
NO WAY for all the obvious reasons mentioned!
Our yard is fenced, and the fewer people that know we have a pool the better, especially in the neighborhood.
- Thu Jul 21, 2022 8:39 pm
- Forum: Personal Consumer Issues
- Topic: What to do with old iPad Air?
- Replies: 14
- Views: 2179
Re: What to do with old iPad Air?
We bought a new PC and iPad Air at Costco a few mos ago and I still have my old iPad Air (maybe 1st gen?) too. I usually just used it to surf the web, but the some webpages would constantly "reload" when scrolling down on an article or recipe which got annoying. So bought the new one. For now the old one lives upstairs in case I want to do a quick search or surf up there. Also found it works fine for HBO Max.
Wish I could figure out how to fix the pesky web page needs to reload problem.
Also take the old one on local staycations or condo stays at the beach or desert
Wish I could figure out how to fix the pesky web page needs to reload problem.
Also take the old one on local staycations or condo stays at the beach or desert
- Thu Jul 21, 2022 8:28 pm
- Forum: Investing - Theory, News & General
- Topic: Treasury Direct Customer Service Horror Stories Have Prevented Me from Buying I-Bonds
- Replies: 76
- Views: 5677
Re: Treasury Direct Customer Service Horror Stories Have Prevented Me from Buying I-Bonds
I don't know what the big stink is about. Spouse and I have been buying 10K each, 1 transaction each for several years without any issues.
Maybe there are problems when trying to cash out, idk, haven't done that yet.
Maybe there are problems when trying to cash out, idk, haven't done that yet.
- Thu Jul 21, 2022 7:06 pm
- Forum: Personal Finance (Not Investing)
- Topic: Accounts Listed in Wills and Trusts
- Replies: 57
- Views: 4903
Re: Accounts Listed in Wills and Trusts
I'd guess the majority of Bogleheads have more than fifty financial accounts. Do you still have Vanguard’s mutual fund accounts where each FUND has a number and an ACCOUNT number and do you count each fund in each account as a separate “account”? If so, that is unnecessary as once the ACCOUNT number is known, all the funds are also known when you or an agent see the account online. I can see that a spreadsheet with the fund numbers could be useful for rebalancing purposes, but it is not helpful for inheritance issues unless different heirs get different mutual funds. I do actually have such a list that contains every account number . . . . . . because it's encrypted I'm not as confident that it will be accessible . . . If your list of acco...
- Thu Jul 21, 2022 6:42 pm
- Forum: Personal Investments
- Topic: HELP - How to Allocate $5M in retirement funds
- Replies: 34
- Views: 6570
Re: HELP - How to Allocate $5M in retirement funds
So, now this is a year later. The first thing I was going to ask was if there was a trust, but now I saw a reference to a Trust lawyer somewhere above. I assume that when the estate was originally settled, half the assets went into an irrevocable trust in your dad’s name (or similar). Therefore, before proposing anything, you need to understand the terms of the trust and all the tax impacts. (This would be good for you to learn anyway, if you live in California.) Find out who the trustee is for each “half” of the trust. If the portfolio has not yet been changed, that is unfortunate but possibly is to her benefit now that the markets are down. Change everything in her Roth to stock funds to maximize future tax-free growth while putting her ...
- Thu Jul 21, 2022 6:08 pm
- Forum: Personal Investments
- Topic: HELP - How to Allocate $5M in retirement funds
- Replies: 34
- Views: 6570
Re: HELP - How to Allocate $5M in retirement funds
Sorry for your loss.
When did your mom start taking RMDs? Does she have someone who manages that for her? Does she have someone do her tax filing and advise her on tax minimizing strategies?
When did your mom start taking RMDs? Does she have someone who manages that for her? Does she have someone do her tax filing and advise her on tax minimizing strategies?
- Thu Jul 21, 2022 5:24 pm
- Forum: Personal Finance (Not Investing)
- Topic: Accounts Listed in Wills and Trusts
- Replies: 57
- Views: 4903
Re: Accounts Listed in Wills and Trusts
I'd guess the majority of Bogleheads have more than fifty financial accounts. Do you still have Vanguard’s mutual fund accounts where each FUND has a number and an ACCOUNT number and do you count each fund in each account as a separate “account”? If so, that is unnecessary as once the ACCOUNT number is known, all the funds are also known when you or an agent see the account online. I can see that a spreadsheet with the fund numbers could be useful for rebalancing purposes, but it is not helpful for inheritance issues unless different heirs get different mutual funds. I do actually have such a list that contains every account number . . . . . . because it's encrypted I'm not as confident that it will be accessible . . . If your list of acco...
- Mon Jul 18, 2022 5:16 pm
- Forum: Personal Consumer Issues
- Topic: Do I have to pre-purchase seats for travel to Europe on Delta?
- Replies: 32
- Views: 3130
Re: Do I have to pre-purchase seats for travel to Europe on Delta?
Did you select a "basic economy" fare vs "main cabin"? Basic economy fares are barebones and don't include an assigned seat. When purchasing main cabin, you should be able to select your seats free of charge. The seats that have a fee are "premium" seats such as exit row or "comfort plus". It is a long story. But I paid for the seats but was refunded inadvertently by Delta when I received a refund for a cancellation of a fully refundable ticket - this was a separate booking. Nothing to do with the current ticket but they were for the same destination around the same time. The carrier is Air France. So when I called Delta (spoke to 2 different CSRs), they all say that my seats on Air France is confirm...
- Mon Jul 18, 2022 3:05 pm
- Forum: Personal Finance (Not Investing)
- Topic: living trust necessary? recomended?
- Replies: 56
- Views: 6932
Re: living trust necessary? recomended?
Bummer, that's what I was afraid of. Spouse's 2nd parent passed earlier this year and finding out also not a great idea to name a family member as trustee just because they live the closest especially if they know nothing. We fear paperwork errors and IRS filing issues in our future.
Thanks again for your response. This thread and the replies have been so helpful
- Mon Jul 18, 2022 2:29 pm
- Forum: Personal Finance (Not Investing)
- Topic: living trust necessary? recomended?
- Replies: 56
- Views: 6932
Re: living trust necessary? recomended?
Hi Todd, Yes that's very helpful, thank u!
K-1's are they generated automatically by broker where funds are held like a 1099-Div?
K-1's are they generated automatically by broker where funds are held like a 1099-Div?
- Mon Jul 18, 2022 1:02 pm
- Forum: Personal Finance (Not Investing)
- Topic: living trust necessary? recomended?
- Replies: 56
- Views: 6932
Re: living trust necessary? recomended?
2. It depends if the trust has income. If Dad puts $10m in cash in a trust and it pays out $500k for 20 years, no, it is not taxed. If Dad puts $10m in a trust, the trust buys Treasury bonds paying 3%, the trust will have $300,000 of income. If the trust then distributes $500,000 to you, you will owe taxes on the $300,000. Does that mean income always comes out of the trust first for tax purposes? For example, the $500K distribution could not target principle only? Thanks Correct. When you distribute from a trust, it is always income first. Example: You put $200,000 of cash in a trust. You buy $100,000 of bonds and $100,000 of stock. The bond earns a coupon payment of $10,000. You have automatic reinvestment turned on, so now you have $110...
- Mon Jul 18, 2022 4:26 am
- Forum: Personal Consumer Issues
- Topic: Thinking about longer-term places to live
- Replies: 85
- Views: 11228
Re: Thinking about longer-term places to live
Well, the thing is, the cost/work stress is very much there, despite the fact that we live fairly comfortably. Admittedly, some of that is in my mind. My family struggled with finances due to some unfortunate circumstances when I was growing up, and a lot of my life is based around trying to never end up in that hole again, which is why I'm really into the whole FIRE thing. Needless to say, living in an expensive places makes FIRE expensive. If I won the lottery, a lot of that anxiety would go away overnight, but that hasn't happened yet ;). I'd say it'll take another 5-10 years for me to reach another milestone of feeling financially comfortably. It doesn't sound like a long time, but work has really been wearing me down lately, and with ...
- Mon Jul 18, 2022 2:55 am
- Forum: Personal Finance (Not Investing)
- Topic: Separate property and "fairness" in marriage
- Replies: 129
- Views: 13766
Re: Separate property and "fairness" in marriage
Who has the inherited funds, and has it been kept separate?
- Sun Jul 17, 2022 11:39 pm
- Forum: Personal Finance (Not Investing)
- Topic: living trust necessary? recomended?
- Replies: 56
- Views: 6932
Re: living trust necessary? recomended?
Only undistributed income is subject to the condensed tax rates. Trustee fees go down the larger the trust is. You can find reputable corporate trustees that will charge 0.1% to 0.5% per year on large trusts, slightly more if they are operating as investment advisors as well. Yes understood it's undistributed INCOME subject to the compressed tax rate, but I figured that could balloon over the years. Can you please clarify how it works in the following 2 scenarios? 1. If beneficiary inherits the deceased $500K taxable brokerage account held in a revokable (now irrevocable trust) distributed as soon as possible after death, it's not taxed, correct? Assuming no gain in this example. 2. If deceased trust is set up to keep inheritance out of be...
- Sun Jul 17, 2022 11:29 pm
- Forum: Personal Finance (Not Investing)
- Topic: living trust necessary? recomended?
- Replies: 56
- Views: 6932
Re: living trust necessary? recomended?
Only undistributed income is subject to the condensed tax rates. Trustee fees go down the larger the trust is. You can find reputable corporate trustees that will charge 0.1% to 0.5% per year on large trusts, slightly more if they are operating as investment advisors as well. Yes understood it's undistributed INCOME subject to the compressed tax rate, but I figured that could balloon over the years. Can you please clarify how it works in the following 2 scenarios? 1. If beneficiary inherits the deceased $500K taxable brokerage account held in a revokable (now irrevocable trust) distributed as soon as possible after death, it's not taxed, correct? Assuming no gain in this example. 2. If deceased trust is set up to keep inheritance out of be...
- Sun Jul 17, 2022 9:14 pm
- Forum: Personal Finance (Not Investing)
- Topic: living trust necessary? recomended?
- Replies: 56
- Views: 6932
Re: living trust necessary? recomended?
Only undistributed income is subject to the condensed tax rates. Trustee fees go down the larger the trust is. You can find reputable corporate trustees that will charge 0.1% to 0.5% per year on large trusts, slightly more if they are operating as investment advisors as well. Yes understood it's undistributed INCOME subject to the compressed tax rate, but I figured that could balloon over the years. Can you please clarify how it works in the following 2 scenarios? 1. If beneficiary inherits the deceased $500K taxable brokerage account held in a revokable (now irrevocable trust) distributed as soon as possible after death, it's not taxed, correct? Assuming no gain in this example. 2. If deceased trust is set up to keep inheritance out of be...
- Sun Jul 17, 2022 6:12 pm
- Forum: Personal Finance (Not Investing)
- Topic: living trust necessary? recomended?
- Replies: 56
- Views: 6932
Re: living trust necessary? recomended?
Only undistributed income is subject to the condensed tax rates. Trustee fees go down the larger the trust is. You can find reputable corporate trustees that will charge 0.1% to 0.5% per year on large trusts, slightly more if they are operating as investment advisors as well. Yes understood it's undistributed INCOME subject to the compressed tax rate, but I figured that could balloon over the years. Can you please clarify how it works in the following 2 scenarios? 1. If beneficiary inherits the deceased $500K taxable brokerage account held in a revokable (now irrevocable trust) distributed as soon as possible after death, it's not taxed, correct? Assuming no gain in this example. 2. If deceased trust is set up to keep inheritance out of be...
- Sun Jul 17, 2022 5:18 pm
- Forum: Personal Finance (Not Investing)
- Topic: living trust necessary? recomended?
- Replies: 56
- Views: 6932
Re: living trust necessary? recomended?
As Freddie and Lee pointed out, the far more important issue is providing for your children in trust rather than outright. If you provide for them outright at age 25, you'll be throwing a few million dollars into each of their estates for estate tax purposes, and exposing it to their creditors and spouses. You could instead allow each child to gain control of his/her trust at age 25, while still keeping their inheritances out of their estates and protecting their inheritances from their creditors and spouses. I understand how a trust reduces exposure to creditors and spouses but what is the concern with a few million dollars passing to them in terms of estate taxes as long as they are below the federal exception? Stocks would also receive ...
- Sun Jul 17, 2022 4:44 pm
- Forum: Personal Finance (Not Investing)
- Topic: living trust necessary? recomended?
- Replies: 56
- Views: 6932
Re: living trust necessary? recomended?
As Freddie and Lee pointed out, the far more important issue is providing for your children in trust rather than outright. If you provide for them outright at age 25, you'll be throwing a few million dollars into each of their estates for estate tax purposes, and exposing it to their creditors and spouses. You could instead allow each child to gain control of his/her trust at age 25, while still keeping their inheritances out of their estates and protecting their inheritances from their creditors and spouses. I understand how a trust reduces exposure to creditors and spouses but what is the concern with a few million dollars passing to them in terms of estate taxes as long as they are below the federal exception? Stocks would also receive ...
- Sat Jul 16, 2022 10:00 pm
- Forum: Personal Consumer Issues
- Topic: Classic men's suit, what and where to buy? In San Diego.
- Replies: 42
- Views: 5148
Re: Classic men's suit, what and where to buy? In San Diego.
Thanks everyone!
- Mon Jul 11, 2022 4:15 pm
- Forum: Forum Issues and Administration
- Topic: Hidden thread bumping
- Replies: 25
- Views: 3265
Re: Hidden thread bumping
I haven't noticed, but it wouldn't bother me.
- Mon Jul 11, 2022 3:53 pm
- Forum: Personal Consumer Issues
- Topic: Classic men's suit, what and where to buy? In San Diego.
- Replies: 42
- Views: 5148
Re: Classic men's suit, what and where to buy? In San Diego.
Thanks, any idea how long it takes to get the suit?themesrob wrote: ↑Mon Jul 11, 2022 9:33 amseconding this route. having the Indochino location in town makes it very easy. I've been very satisfied with their quality for the price.Goldwater85 wrote: ↑Sun Jul 10, 2022 3:51 pm Second Indochino. Surprisingly well made, and if you get the measurements right and go with a super-luxury fabric (still inexpensive), you'd mistake it for a fairly high-end suit. You have a store in San Diego that will measure you and then check the suit fit when it arrives, but I've had better luck getting a good fit with my tailor's measurements. The first jacket they ever sent me fit poorly, and Indochino replaced it no fuss and no questions (other than the revised measurements).
- Mon Jul 11, 2022 1:52 am
- Forum: Personal Consumer Issues
- Topic: throwing my own retirement party
- Replies: 50
- Views: 8262
Re: throwing my own retirement party
So happy your party was a success! Were there Mariachis?
Now enjoy your retirement. Best Wishes!
Now enjoy your retirement. Best Wishes!
- Sun Jul 10, 2022 9:04 pm
- Forum: Personal Consumer Issues
- Topic: Classic men's suit, what and where to buy? In San Diego.
- Replies: 42
- Views: 5148
Re: Classic men's suit, what and where to buy? In San Diego.
My husband, with my help :), bought two of these at Nordstrom yesterday. Same kind of situation, hadn’t bought suits in years. He’s always gone to Brooks Brothers previously but we had a gift card. My husband is smaller than yours so the cut may not be right but these are wool but lighter weight. https://www.nordstrom.com/s/ted-baker-london-jay-trim-fit-solid-wool-suit/4256718 Thanks Isabelle, appreciate the link. Looks like a nice suit; what colors did u purchase? Did you go to a Nordstrom in San Diego? Wondering if you prefer one location over the other for menswear. They do alterations too don't they? Not as many locations now. I hate to see stores closing. I'll never be an online shopper for most clothing. He bought a navy and a charco...
- Sun Jul 10, 2022 8:59 pm
- Forum: Personal Consumer Issues
- Topic: Classic men's suit, what and where to buy? In San Diego.
- Replies: 42
- Views: 5148
Re: Classic men's suit, what and where to buy? In San Diego.
All in one location?! Great he'll be thrilled to hear that. A 5K suit, heck no, I doubt there will be any elbow rubbing w the 5K suit set or anyone who would know the difference. Just wants a suit with a fit and style that will last and then back to shorts most days of the year. We are so weather spoiled. Thanks again.quietseas wrote: ↑Sun Jul 10, 2022 5:09 pm @island, drive to the UTC mall where there is a Nordstrom, Macys, Indochino and Suit Supply store. You'll be overwhelmed with choices, but you may decide that you like the Indochino and Suit Supply at a lower price point just fine. There might be a Men's Wearhouse nearby, too, which is just fine for a suit worn once or twice per year around people who aren't going to judge him for not wearing a $5,000 suit.
- Sun Jul 10, 2022 4:48 pm
- Forum: Personal Consumer Issues
- Topic: Classic men's suit, what and where to buy? In San Diego.
- Replies: 42
- Views: 5148
Re: Classic men's suit, what and where to buy? In San Diego.
By tailored, you mean altered to fit better or something else? But yes suits always altered. Never required much, but it's been awhile so will see.harrychan wrote: ↑Sun Jul 10, 2022 3:20 pm+1 for Macys. They seem to have deep discounts when I needed a jacket off the shelf. Make sure you get a slim fit suit as that's the current style now. If possible, I would recommend getting a tailored suit. I have 3 and it still fits perfectly the last 6 years.mr_brightside wrote: ↑Wed Jul 06, 2022 4:19 pm i would check out any of the 'major' department stores. Macy's, Dillard's, Nordstrom etc
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