Search found 34 matches

by MerriebytheSea
Sun Sep 27, 2020 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Quit Hated Job And Take 80% Pay Cut?
Replies: 62
Views: 8265

Re: Should I Quit Hated Job And Take 80% Pay Cut?

I was an RN. Have heard lots of regrets. Never heard regrets about leaving a hated job.
by MerriebytheSea
Sun Sep 27, 2020 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Friend on the verge of financial ruin, how to help?
Replies: 137
Views: 15708

Re: Friend on the verge of financial ruin, how to help?

Good to hear that you have the kind-heartedness to want to help an old friend, but I add to the caution about taking on what could become a dependency. Your friend’s problem is bigger than a financial hump. She needs a self-help plan. Underperforming for twenty years, in positions where she is margi...
by MerriebytheSea
Fri Sep 18, 2020 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

Your post said you had an ethical dilemma. This looks more like a legal decision than an ethical one. If I'm wrong, could you say more about the ethical issue you're facing? There have been several questions about my motive, asking if I wanted to punish people who were sloppy, unethical or worse. N...
by MerriebytheSea
Thu Sep 17, 2020 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

That's fine, but how would you have structured it differently? Sounds like the broker is the worst offender. But your dad trusted him. You are right. He was the worst offender. Dad had confidence in this broker's investment skills and perhaps that trustee shared that confidence. But investment skil...
by MerriebytheSea
Thu Sep 17, 2020 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

neverpanic wrote: Thu Sep 17, 2020 7:05 pm
Wouldn't a "sub-trust" just be a separate trust with trust #1 as the POD/TOD when the only living beneficiary of trust #2 passed?
No, it was described within the trust.
by MerriebytheSea
Thu Sep 17, 2020 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

I don't understand the last line. How does a release on the father's trust (agreeing to the final distribution) impact the wife's trustee, other than that trustee possibly knowing about the $25K .... Both trustees are protected by the trust attny. Trusts protect trustees. When Dad became very ill, ...
by MerriebytheSea
Thu Sep 17, 2020 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

When doing your estate planning, your choice of executors and trustees is one of the most important things to consider. A poor Will or trust agreement with good trustees is often better than a good Will or trust agreement with poor trustees. What's a Sub-Trust? The sub-trust: perhaps the wrong word...
by MerriebytheSea
Thu Sep 17, 2020 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

I respect your pursuit of justice, but sometimes, it's better to take things into our own hands when seeking a practical result. If you go the "legal" route of restoring the $25,000 to S's children, the primary beneficiaries will be the attorneys, the accountants, and the county. Thank you. Your po...
by MerriebytheSea
Thu Sep 17, 2020 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

Once your dad died, as a beneficiary, you were entitled to a copy of the trust. Did you ever receive it? Were you officially notified that you were a beneficiary? You were also entitled to a yearly accounting until the trust was closed. .... But, here's a new idea. Has the trustee stepped aside? On...
by MerriebytheSea
Thu Sep 17, 2020 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

Edit: Also, I am failing to see what the trust attorney did wrong .... From the outset the trust attny or is staff made errors such ..... there were lots of ooops, we forgot,redos .....He staunchly resisted providing accounting/annual reports even though it was required under the law. .... He sent ...
by MerriebytheSea
Thu Sep 17, 2020 4:04 am
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

Edit: Also, I am failing to see what the trust attorney did wrong. He's not even involved in the administration of the trust, or at least they typically aren't. From the outset the trust attny or is staff made errors such as assigning the wrong people as trustees. My own attny, who once worked for ...
by MerriebytheSea
Wed Sep 16, 2020 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

The potential to unravel this mess and have any money left over to go to the heirs of S is approximately zero. It's time to let it go. File a complaint with whatever professional organizations make sense, but accept that it isn't likely to go anywhere and the money that has been distributed is what...
by MerriebytheSea
Wed Sep 16, 2020 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

I suspect the threat of an expensive accounting and audit is a bluff..... an accounting/audit presented in court is likely high on the trustee and broker's list of things to avoid. No doubt the broker is having more than a little anxiety .... as for the S's trustee, not so much. The mis-depositing ...
by MerriebytheSea
Wed Sep 16, 2020 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

I'm not sure what you think the trust attorney did other than to threaten you with legal action which seems an extreme response. You said yourself that the sub trust would just be reabsorbed back into the main trust upon death. So, if S never intended to spend the $25k, so what? She's dead anyway; ...
by MerriebytheSea
Wed Sep 16, 2020 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

Food for thought for those considering whether to appoint corporate vs individual trustees: I doubt these shenanigans would have occurred and the trust administration would probably have been cheaper in the hands of a reputable corporate trustee. In reply: The broker had been Dad's broker. S came t...
by MerriebytheSea
Wed Sep 16, 2020 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

If you suspect that the trust attorney was unethical or negligent, you can file a complaint with the (depending on your) state's Office of Disciplinary Counsel/State Bar. The Disciplinary Counsel will investigate your complaint to see if the attorney violated his duty to the trustees. It is my unde...
by MerriebytheSea
Wed Sep 16, 2020 2:33 am
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

If you suspect that the trust attorney was unethical or negligent, you can file a complaint with the (depending on your) state's Office of Disciplinary Counsel/State Bar. The Disciplinary Counsel will investigate your complaint to see if the attorney violated his duty to the trustees. It is my unde...
by MerriebytheSea
Wed Sep 16, 2020 2:15 am
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

Re: ethics concern with trust

I assume that S has a different set of beneficiaries than the 16 that your father's Trusts do? Are any S's beneficiaries aware of what happened? They are the group that is out 25k. If you feel strongly about this, then maybe you should advise one of them and let them decide whether to take action. ...
by MerriebytheSea
Wed Sep 16, 2020 12:11 am
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 69
Views: 4693

ethics concern with trust

I have ethics concerns with a trust and would appreciate input – A bit complex but interesting. Dad passed, leaving a Trust for his 6 Children and 10 Grandchildren as well as a Sub-Trust for his last wife (S), a wonderful woman. Upon her death, what remained in the Sub-Trust was to revert back to hi...
by MerriebytheSea
Mon May 27, 2019 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Troubling Delay in Retirement Processing
Replies: 8
Views: 969

Re: Troubling Delay in Retirement Processing

Just curious: to your knowledge, is that city in financial difficulty? This is a bit of a concern ... just a few years back decided mismanagement of the pension fund (one of the worst managed of public pension funds) came to light. Entirely new management was brought under more accountability. It's...
by MerriebytheSea
Mon May 27, 2019 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Troubling Delay in Retirement Processing
Replies: 8
Views: 969

Troubling Delay in Retirement Processing

In January of this year I applied for my retirement benefits with a major west coast city. At the time I applied, the projected wait time for retirement estimates was just over 2 weeks. After waiting a couple of months, I began calling the retirement office, but staff was never available and phone m...
by MerriebytheSea
Sat Jan 06, 2018 3:53 am
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 1477
Views: 174359

Re: What frugal thing did you do today?

While in the laundromat I noticed a woman putting her clothes in a dryer. On the phone she told a friend she would be right over. A half hour walk was no problem. So I opened her dryer + threw my clothes in with hers. Got dryed for free. She never knew. This definitely transcends "frugal" and shoul...
by MerriebytheSea
Sat Jan 06, 2018 3:07 am
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 1477
Views: 174359

Re: What frugal thing did you do today?

Our washer began leaking. I used the internet to diagnose the problem so my husband and I were able to fix it ourselves - saved money but also the down time of waiting for a repairman. A few years ago, I fixed our refrigerator by using the internet to diagnose the problem. Feels good to tap the inte...
by MerriebytheSea
Mon Nov 20, 2017 4:32 am
Forum: Personal Consumer Issues
Topic: Warm Shirt for Winter
Replies: 41
Views: 5617

Re: Warm Shirt for Winter

If you want a plain long sleeve thermal pullover shirt which is comfortable, durable, warm, soft against the skin, made with natural fibers, breathes well, and inexpensive - I recommend Duofold Originals (currently on sale for less than $20 at hoiseryandmore.com ) These shirts are 65% cotton next to...
by MerriebytheSea
Sun Jun 12, 2016 4:22 am
Forum: Personal Investments
Topic: Tax Strategies for Income Dip preceding Hike?
Replies: 15
Views: 2129

Re: Tax Strategies for Income Dip preceding Hike?

House Blend and Peter : Thank you for bringing home the error of putting funds into IRA or 401K when we are in this low tax income dip. Before this last year my husband was earning about 60K. The ACA kicked us off our good 4K/year health insurance and forced us on to Obamacare to the tune of $12K/y...
by MerriebytheSea
Sat Jun 11, 2016 4:03 pm
Forum: Personal Investments
Topic: Tax Strategies for Income Dip preceding Hike?
Replies: 15
Views: 2129

Re: Tax Strategies for Income Dip preceding Hike?

Thanks you all for your thoughtful responses. Forgive me but I have to take this slowly because I am not familiar with tax regulations 2. In retirement, I see $20K + $10K + $10K + $15K + $8K RMD + $34K SS = $97K, less another $20K+ for two exemptions and a standard deduction. (The reason I gave you ...
by MerriebytheSea
Sat Jun 11, 2016 7:34 am
Forum: Personal Investments
Topic: Tax Strategies for Income Dip preceding Hike?
Replies: 15
Views: 2129

Tax Strategies for Income Dip preceding Hike?

Morning Bogleheads, Investing is fun but tax analysis - not so much - could use some sage advice. Husband and I are 64. He wants to work part time to supplement retirement funds while delaying SS until 70. Our basic before tax income is as follows: Part time earnings of $20K (offset by putting 10K i...
by MerriebytheSea
Tue Nov 25, 2014 6:16 pm
Forum: Personal Investments
Topic: Trustee-Broker Disagree over Allocation/Investments
Replies: 18
Views: 2072

Re: Trustee-Broker Disagree over Allocation/Investments

Feedback for lazyday suggestion: I asked for a paper on investing to be shared with young people who might be too busy to read a book. I haven't read this yet, but his other works are very good: http://www.amazon.com/If-You-Can-Millennials-Slowly-ebook/dp/B00JCC5JKI It's free at Amazon right now, ot...
by MerriebytheSea
Mon Nov 24, 2014 1:25 am
Forum: Personal Investments
Topic: Trustee-Broker Disagree over Allocation/Investments
Replies: 18
Views: 2072

Re: Trustee-Broker Disagree over Allocation/Investments

I appreciate the responses. I am among the least financially sophisticated on this site, so please hang in and let me know if you note errors in reasoning. To answer questions : the asset allocation was from the division of investments made for the decedent's benefit - no reallocation for the benefi...
by MerriebytheSea
Sun Nov 23, 2014 3:23 am
Forum: Personal Investments
Topic: Trustee-Broker Disagree over Allocation/Investments
Replies: 18
Views: 2072

Trustee-Broker Disagree over Allocation/Investments

Hi, please help me get some young families oriented in a wise direction for protecting their assets. A decedent designated me as trustee for accounts he set up (through his investment broker) for two young adults. The broker has recommended the purchase of high load/high expense ratio mutual funds, ...
by MerriebytheSea
Thu Aug 21, 2014 9:10 am
Forum: Personal Investments
Topic: Advice please, new to bonds, portfolio shifts
Replies: 3
Views: 645

Advice please, new to bonds, portfolio shifts

Hi all New to boglehead philosophy - Arrived her looking for a plan to allocate newly acquired cash and long term muni bonds - tax exempt, grade A or better. I am reading the recommended books but I would appreciate advice/feedback. Also, I have a few questions: 1) Is there any reason not to keep lo...
by MerriebytheSea
Wed Jul 23, 2014 3:45 pm
Forum: Personal Investments
Topic: Intimidated by Trustee and Investment Advisor
Replies: 32
Views: 5281

Re: Intimidated by Trustee and Investment Advisor

Calm man quoted: I am rating it at 50/50 robbery because it is amazing how much incompetence I have found in the world !!!! [/quote] Calm man - wanted to respond to your comment about incompetency - I too find myself dismayed with how much I find. Case in point: Father's trust clearly provided that ...
by MerriebytheSea
Mon Jul 21, 2014 6:35 am
Forum: Personal Investments
Topic: Intimidated by Trustee and Investment Advisor
Replies: 32
Views: 5281

Intimidated by Trustee and Investment Advisor

Edited this old post down -- The Trustee never advised me of my inheritance or my benefits. He has never spoken to me. He passed his responsibilities to the decedents investment broker who attempted to maintain control of all the funds by dividing all investments in kind, among many beneficiaries. T...