Search found 477 matches

by FBN2014
Wed Dec 12, 2018 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone been able to execute a Power of Attorney with Vanguard?
Replies: 29
Views: 1475

Re: Has anyone been able to execute a Power of Attorney with Vanguard?

North Carolina also has a statue that allows a lawsuit against anyone not honoring a legally executed POA. Makes one wonder what is the point of having a POA if financial institutions put up all these roadblocks. A good revenue source for attorneys?
by FBN2014
Tue Dec 11, 2018 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Contingent Durable Power of Attorney
Replies: 14
Views: 790

Re: Contingent Durable Power of Attorney

Thank you all for the information. However if the successor trustee agrees to be your POA while alive, then you should update the POA to name that person. If your successor trustee is a corporate trustee then you may have a problem naming them because typically corporate trustees that I have looked...
by FBN2014
Mon Dec 10, 2018 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Wills, Estates and Trusts
Replies: 28
Views: 2541

Re: Wills, Estates and Trusts

I think one can cover all the various scenarios where a successor trustee or POA would need to step in. I decided to have my two daughters as co-trustees and co-POAs in the original documents with each trustee or POA able to sign documents, transact business, etc. independently of the other. I have ...
by FBN2014
Mon Dec 10, 2018 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Wills, Estates and Trusts
Replies: 28
Views: 2541

Re: Wills, Estates and Trusts

Regarding the issue of enabling a successor trustee to seamlessly act when a sole trustee is incapacitated, I recall from a previous thread what seemed to be a very helpful suggestion that the Trust could specify that the successor Trustee could determine incapacity of the predecssor trustee and st...
by FBN2014
Sun Dec 09, 2018 6:37 pm
Forum: Investing - Theory, News & General
Topic: What should a new investor being reading?
Replies: 29
Views: 1938

Re: What should a new investor being reading?

I highly recommend Dan Solin's books. Brief, to the point, and non technical.
by FBN2014
Sun Dec 09, 2018 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Wills, Estates and Trusts
Replies: 28
Views: 2541

Re: Wills, Estates and Trusts

A major advantage of a living trust comes while you are alive. It can be far easier for the trustee of your trust to manage your affairs if you become incapacitated than for someone to do it under a durable power of attorney. Once you are dead avoiding probate is simply a nice bonus. It can be a bi...
by FBN2014
Sun Dec 09, 2018 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Contingent Durable Power of Attorney
Replies: 14
Views: 790

Re: Contingent Durable Power of Attorney

A successor trustee only applies to managing your trust when you are deceased This is not correct. You can relinquish your trusteeship and turn management over to a successor trustee while you are alive. I knew that and can't imagine what I was thinking. I corrected my post and thank you for catchi...
by FBN2014
Sun Dec 09, 2018 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Wills, Estates and Trusts
Replies: 28
Views: 2541

Re: Wills, Estates and Trusts

I recently had wills, trust, POAs done and was given quotes from $2,900, $5,250, and $6800 by 3 attorneys I met with that all had good credentials. The size of the firm and the proximity to a large metro area is what I believe accounts for the difference in cost. The larger firm was highest probably...
by FBN2014
Sun Dec 09, 2018 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Contingent Durable Power of Attorney
Replies: 14
Views: 790

Re: Contingent Durable Power of Attorney

A successor trustee only applies to managing your trust when you are deceased unless you resign when you are declared incapacitated. However if the successor trustee agrees to be your POA while alive, then you should update the POA to name that person. If your successor trustee is a corporate truste...
by FBN2014
Tue Dec 04, 2018 7:21 am
Forum: Personal Finance (Not Investing)
Topic: Power of attorney for Mom?
Replies: 12
Views: 959

Re: Power of attorney for Mom?

A good power of attorney will have a provision for you to access her online accounts. In my POA this is covered under a "digital assets" provision.
by FBN2014
Mon Dec 03, 2018 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited IRA
Replies: 16
Views: 929

Re: Inherited IRA

Excellent: thanks guys (the 3 mil is spit up 4 ways, so not quite the big windfall, but no complaints from me) I think the best course of action is to utilize the tax-deferral of the new IRA in regards to reinvestment of dividends or interest income (which I assume will be done as in any other IRA,...
by FBN2014
Mon Dec 03, 2018 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited IRA
Replies: 16
Views: 929

Re: Inherited IRA

The only item I would add is that I recall there are some critical dates required by the IRS to inform the custodian of your desire to set up Inherited IRA accounts for stretch distributions and when the first distribution needs to be made. Also check if the RMD for this year has been made otherwise...
by FBN2014
Sun Dec 02, 2018 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Managing ACA income with a Vanguard Variable Annuity
Replies: 17
Views: 1384

Re: Managing ACA income with a Variable Annuity

I'm income planning for qualifying for an ACA subsidy in 2019. I have a good amount of CDs in taxable (changed some bond holdings to CDs a few years ago). Between the CDs (about 30k per year), dividends and the rising yields of tax free bond funds I'm a few thousand dollars over the ACA cliff. What...
by FBN2014
Sun Dec 02, 2018 9:19 am
Forum: Investing - Theory, News & General
Topic: "The Steak Dinner Annuity Pitch"
Replies: 60
Views: 7159

Re: "The Steak Dinner Annuity Pitch"

If you go to the free dinner seminar, and you buy the annuity, the living trust, the timeshare, or the bridge, you paid for the free dinners for everyone else in the room. Absolutely correct. The commission is typically 6-10% on indexed annuities. The dinner cost is $40-50 per head. The mailings to...
by FBN2014
Sun Dec 02, 2018 9:02 am
Forum: Investing - Theory, News & General
Topic: "The Steak Dinner Annuity Pitch"
Replies: 60
Views: 7159

Re: "The Steak Dinner Annuity Pitch"

Don't get me started!!!.... LOL Nothing new here. Same as it ever was. And.... you can bet your bippy that I'll jump on the next high end steak house invite that shows up. Dinner and a show!! :sharebeer November and December are usually slow for the free dinner hucksters. I only attended one in Nov...
by FBN2014
Mon Nov 26, 2018 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3496

Re: Helping elderly Mom with finances

Maybe I missed it but how are nursing home costs being paid? Long term care insurance, Medicaid, private pay?
by FBN2014
Sun Nov 25, 2018 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Best tax software for me
Replies: 4
Views: 608

Re: Best tax software for me

I concur that TurboTax is the best and I've tried them all. The support service is great if you have questions on the software or tax law questions.
by FBN2014
Tue Nov 13, 2018 9:34 am
Forum: Investing - Theory, News & General
Topic: COMING SOON: BOGLEHEADS PODCASTS
Replies: 366
Views: 20071

Re: COMING SOON: BOGLEHEADS PODCASTS

The interviews are excellent. Thanks Mr. Ferri!
by FBN2014
Sun Nov 11, 2018 10:19 am
Forum: Local Chapters and Bogleheads Community
Topic: 2019 BOGLEHEADS CONFERENCE DATES
Replies: 12
Views: 2864

Re: 2019 BOGLEHEADS CONFERENCE DATES

Are there any recordings (video or audio) of the 2018 conference?
by FBN2014
Sun Nov 11, 2018 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Regrets from canceling whole life insurance policy - anyone out there?
Replies: 27
Views: 3029

Re: Regrets from canceling whole life insurance policy - anyone out there?

I have a 20 year term policy that is finished in 2019. I now foresee a need for permanent insurance. So I regret not buying when I was younger. Big mistake. I don't think you would ever meet a surviving spouse who wished their deceased spouse had not had more life insurance.
by FBN2014
Sun Nov 11, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Massachusetts Estate Tax
Replies: 8
Views: 1151

Re: Massachusetts Estate Tax

We plan to move to Massachusetts next year. This will be helpful in figuring out what we need to do to minimize eventual estate tax. I had thought we'd need some form of trust(s) but from what I see above there is no longer any need to do this. Is that right? We will of course see a lawyer to make ...
by FBN2014
Sun Nov 11, 2018 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Massachusetts Estate Tax
Replies: 8
Views: 1151

Re: Massachusetts Estate Tax

I live in Massachusetts also. I'd really appreciate a good resource that explained the Mass estate tax. I have an article that was written several years ago by a MA estate planning attorney and was published on his website. Unfortunately he is now deceased. The article gives a detailed description ...
by FBN2014
Sun Nov 11, 2018 8:37 am
Forum: Personal Finance (Not Investing)
Topic: TurboTax on TaxMarkDown.com
Replies: 37
Views: 3903

Re: TurboTax on TaxMarkDown.com

I use TurboTax Trusts and Estates. I believe it was $110 last year. Great product with great customer support. I have been quoted at minimum $500 to have an attorney or accountant do a trust return. I was happy to pay $110.
by FBN2014
Sun Nov 11, 2018 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Do I need more than Original Medicare?
Replies: 110
Views: 6293

Re: Do I need more than Original Medicare?

You have one chance during initial enrollment to buy a supplement plan and Part D without going through medical underwriting. If you don't take advantage of this and you get sick in the future then you will either be denied coverage or the premiums will be exorbitant. In addition there are significa...
by FBN2014
Sat Nov 10, 2018 11:56 pm
Forum: Personal Finance (Not Investing)
Topic: Massachusetts Estate Tax
Replies: 8
Views: 1151

Re: Massachusetts Estate Tax

That's a pretty good summary. The $1 million trust is a nonmarital trust. Regardless of how much it grows during the surviving spouse's lifetime, it will pass to or in further trust for the children free of estate tax at the surviving spouse's death. Massachusetts adopted both the Uniform Probate C...
by FBN2014
Fri Nov 09, 2018 7:51 am
Forum: Investing - Help with Personal Investments
Topic: Reverse Mortgage
Replies: 17
Views: 1892

Re: Reverse Mortgage

Wade Pfau highly advocates reverse mortgages. Don't be frightened by scare tactics. In the past they weren't so good. Today's reverse mortgage is a great product. Wade has written a book on the topic. Another good resource is Don Graves who also wrote a very good book.
by FBN2014
Fri Nov 09, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 15015

Re: How much money are you leaving your kids after you die?

Retirement should be enjoyed by doing the things you want to do. If you want to make sure that your heirs have a legacy then decide on the amount and purchase the life insurance to cover that need. Of course this assumes that you are healthy enough to qualify but it is the cheapest way to leverage y...
by FBN2014
Fri Nov 09, 2018 7:36 am
Forum: Investing - Help with Personal Investments
Topic: Charting and performance software
Replies: 0
Views: 131

Charting and performance software

Charting and performance software
Does anyone know of a software tool where you can track the day to day performance of multiple mutual funds. The tool would show moving average information, daily, monthly, and yearly performance. Hopefully it is a low cost or free tool. Thanks
by FBN2014
Thu Nov 08, 2018 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Is an MBA worth it these days?
Replies: 53
Views: 6380

Re: Is an MBA worth it these days?

You obviously have the analytical skills. Before spending time on an MBA, I would network via LinkedIn with people in your area who are in management positions with real estate development or equity firms. I would also explore a CCIM certification which is quite rigorous but a lot cheaper than an MB...
by FBN2014
Mon Nov 05, 2018 10:49 am
Forum: Personal Finance (Not Investing)
Topic: One Trust or Two Trusts?
Replies: 3
Views: 414

One Trust or Two Trusts?

When creating an estate plan is it preferred to have one revocable living trust for both spouses or separate trusts? If there is one trust then wouldn't 1/2 of the trust become irrevocable at the death of the first spouse? I don't anticipate the estate being taxable in the future since present value...
by FBN2014
Wed Oct 31, 2018 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 396
Views: 36612

Re: free dinner investing seminar

I usually get an invite to an annuity or insurance or estate planning or pre-planned funeral arrangements dinner once a month. I haven't received one for 3 months now. I must be getting a bad reputation as a plate licker. :confused The drought is over. Maggiano's for November 6th! Here comes the an...
by FBN2014
Wed Oct 31, 2018 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Tell me about establishing trusts for our minor children
Replies: 28
Views: 2742

Re: Tell me about establishing trusts for our minor children

I concur with posters who recommend assets remaining in trust for asset protection features in case of a daughter's divorce, judgements as a result of an auto accident, etc. Daughters can become trustee of their own trust at a specified age but still have asset protection.
by FBN2014
Tue Oct 30, 2018 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Annuity, trusts, and taxes
Replies: 1
Views: 196

Annuity, trusts, and taxes

A complicated question for the tax experts and attorneys. An annuity that has a trust as beneficiary must be distributed at the owner's death either as a lump sum or over a 5 year period. All gains are then taxed as ordinary income (no step up in basis or capital gains treatment). Since trust income...
by FBN2014
Tue Oct 30, 2018 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard as a trustee
Replies: 33
Views: 3156

Re: Vanguard as a trustee

I'm not sure how usual it is, but such provisions are fairly common. However, any time you mandate or limit distributions, something can go wrong. If you mandate distributions, that might force a distribution at a time when it's unwise. If you limit distributions, you may preclude a distribution th...
by FBN2014
Tue Oct 30, 2018 8:25 am
Forum: Personal Finance (Not Investing)
Topic: Will or Trust?
Replies: 13
Views: 1614

Re: Will or Trust?

bsteiner wrote:
Fri Oct 12, 2018 10:06 am
Neither creditor protection nor probate is a factor in deciding whether she should create a revocable trust.
What are the reasons for creating a revocable trust vs creating the trust via the will?
by FBN2014
Tue Oct 30, 2018 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard as a trustee
Replies: 33
Views: 3156

Re: Vanguard as a trustee

tj wrote:
Mon Oct 29, 2018 10:35 pm
Doesn't Vanguard include accounting (e.g. the tax prep for the trust) in their fee? I recall reading that here...
Yes
by FBN2014
Tue Oct 30, 2018 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard as a trustee
Replies: 33
Views: 3156

Re: Vanguard as a trustee

Docbarb wrote:
Sun Oct 28, 2018 10:51 am
thanks for responding. Are you satisfied with the contact you have with them? What has your experience been with them? Fees resonable? I need a corporate trustee and dont know of any other company I would trust.
Schwab has a trust department. Members Trust is also another good choice.
by FBN2014
Tue Oct 30, 2018 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard as a trustee
Replies: 33
Views: 3156

Re: Vanguard as a trustee

I am also interested in hearing about experiences with Vanguard as a trustee for an irrevokable trust. In particular, is there any way that the trust (with Vanguard as trustee) can own a share of a family LLC (limited liability corporation)? (The LLC mainly holds about 9,000 acres of pastureland th...
by FBN2014
Tue Oct 30, 2018 6:39 am
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 396
Views: 36612

Re: free dinner investing seminar

I usually get an invite to an annuity or insurance or estate planning or pre-planned funeral arrangements dinner once a month. I haven't received one for 3 months now. I must be getting a bad reputation as a plate licker. :confused
by FBN2014
Mon Oct 15, 2018 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Switching from ACA to Medicare
Replies: 32
Views: 3659

Re: Switching from ACA to Medicare

While you early retirees kept your income low to take advantage of govt ACA subsidies, I hope you've thought ahead to age 70.5 RMDs and what they will do to your tax bracket while also taking SS at the same time. For those with a lot of money in their TIRAs, the low income years are the best time t...
by FBN2014
Sun Oct 14, 2018 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Switching from ACA to Medicare
Replies: 32
Views: 3659

Re: Switching from ACA to Medicare

Well I knew someday marrying a slightly older woman would come in handy. Only six years older, but I guess when I buy an ACA policy upon retirement, I will put it in my name, she can drop off when she hits 65, with me remaining as primary for a few more weeks :-) Hopefully by then this will be stre...
by FBN2014
Sat Oct 13, 2018 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 396
Views: 36612

Re: free dinner investing seminar

mickeyd wrote:
Sat Oct 13, 2018 12:27 pm
I've attended dozens of these shows during that last 10 years (for entertainment purposes only) but none laity, though I still receive the occasional invite in the mail.

Enjoy the meal, but don't drink the Kool-Aid.
mickeyd, did you ever go to one at McDonald's? :D
by FBN2014
Sat Oct 13, 2018 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Switching from ACA to Medicare
Replies: 32
Views: 3659

Re: Switching from ACA to Medicare

You have to be very careful when you have an ACA plan and you are going on Medicare. If you talk to SS, ACA exchange rep, or the insurance carrier you will get confusing and conflicting information. If you don't do the sign up for Medicare correctly then it will cost you big time if you are receivin...
by FBN2014
Sat Oct 13, 2018 8:57 am
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 396
Views: 36612

Re: free dinner investing seminar

appointments. The pitch is always for annuities. One advisor asked me to leave when I told him that I subscribe to the Bogle investing philosophy. Was this at the dinner or a follow up appointment? It varies. The ones that tell you upfront at the dinner aren't trying to hide anything. The others al...
by FBN2014
Fri Oct 12, 2018 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 396
Views: 36612

Re: free dinner investing seminar

appointments. The pitch is always for annuities. One advisor asked me to leave when I told him that I subscribe to the Bogle investing philosophy. Was this at the dinner or a follow up appointment? It varies. The ones that tell you upfront at the dinner aren't trying to hide anything. The others al...
by FBN2014
Fri Oct 12, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 396
Views: 36612

Re: free dinner investing seminar

Gus wrote:
Fri Oct 12, 2018 8:45 am
Any tips on how to get invited to these seminars? I just turned 50 this year. Is it just a matter of time now?
Your just a pup! 😁 When you get closer to 59 1/2 then you'll get the invites. That's when they want you to rollover your 401K and IRAs into an annuity.
by FBN2014
Fri Oct 12, 2018 8:15 am
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 396
Views: 36612

Re: free dinner investing seminar

At the end when he was issuing his altar call free consultation invite, he actually suggested that there are three types of people who should probably not schedule a meeting. I can't remember the third, but I was two of them. "If you just looked at the invite and thought you would like to get a fre...
by FBN2014
Wed Oct 10, 2018 4:02 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 8544
Views: 1671553

Re: U.S. stocks in freefall

David Stockman is celebrating.
by FBN2014
Sat Oct 06, 2018 4:45 pm
Forum: Investing - Theory, News & General
Topic: Allan Roth doesn't like single premium annuities
Replies: 198
Views: 11063

Re: Alan Roth doesn't like single premium annuities

I would like to see Roth debate Tom Hegna on the use of annuities. That would be fun to watch.
by FBN2014
Fri Oct 05, 2018 1:53 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 8544
Views: 1671553

Re: U.S. stocks in freefall

Quick question about what is going on in the stock market. New to the investing scene and trying to learn as much as I can. I am not planning on making any changes as a result of a down day on the stock market, but I would like to understand why others are selling today. Wasn’t the jobs report over...