Search found 5438 matches

by FIREchief
Sat Sep 26, 2020 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Avoiding Estate Tax
Replies: 40
Views: 3738

Re: Avoiding Estate Tax

wolf359 wrote: Sat Sep 26, 2020 9:11 am If the surviving spouse inherits everything at first, then the first exemption is essentially wasted.
Portability? :confused
by FIREchief
Fri Sep 25, 2020 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Should I have an estate plan at this point in my life?
Replies: 33
Views: 2815

Re: Should I have an estate plan at this point in my life?

J295 wrote: Fri Sep 25, 2020 8:34 pm Personally, when we were that age we were comfortable with wills with testamentary trusts, durable powers of attorney for healthcare, and powers of attorney.
No medical POAs??
by FIREchief
Fri Sep 25, 2020 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Should I have an estate plan at this point in my life?
Replies: 33
Views: 2815

Re: Should I have an estate plan at this point in my life?

I’m not sure if I should have a full up estate plan at this point in my life or if I should wait until I’m retired in about 9 more years. Below are some generalized facts about my life: An estate attorney once told me that the right time to establish an estate plan is on a person's 18th birthday. O...
by FIREchief
Fri Sep 25, 2020 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Should I have an estate plan at this point in my life?
Replies: 33
Views: 2815

Re: Should I have an estate plan at this point in my life?

I’m not sure if I should have a full up estate plan at this point in my life or if I should wait until I’m retired in about 9 more years. Below are some generalized facts about my life: An estate attorney once told me that the right time to establish an estate plan is on a person's 18th birthday. O...
by FIREchief
Thu Sep 24, 2020 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Avoiding Estate Tax
Replies: 40
Views: 3738

Re: Avoiding Estate Tax

“Some qualified people” likely are not.
by FIREchief
Thu Sep 24, 2020 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Should I go for online Will making software?
Replies: 81
Views: 5592

Re: Should I go for online Will making software?

There is no evidence that I have seen that Will Maker documents are not valid and recognized. After all 10s of thousands of documents are created by Will Maker. You would think we would have had many lawsuits if the documents were faulty. Have we have one lawsuit? And yet people will say things lik...
by FIREchief
Thu Sep 24, 2020 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: What happens if your income comes in below the minimum for the ACA?
Replies: 70
Views: 5147

Re: What happens if your income comes in below the minimum for the ACA?

A tax advisor cannot advise on the default order Vanguard will use for the withdrawals. I believe they will do LTCG before STCG and noncovered shares before covered shares. At Fidelity, with my Spec ID accounts, I identify exactly which tax lots to sell. Isn't this the same at VG (or is this yet an...
by FIREchief
Thu Sep 24, 2020 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Community property with right of survivorship
Replies: 8
Views: 757

Re: Community property with right of survivorship

I doubt the account title makes any difference. It's typically state law, and not account titles, that determine if an asset is community property. Some lawyers will even include a community property declaration within an estate plan package that declares all property owned by the married couple to ...
by FIREchief
Thu Sep 24, 2020 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: What happens if your income comes in below the minimum for the ACA?
Replies: 70
Views: 5147

Re: What happens if your income comes in below the minimum for the ACA?

To answer your question about Roth conversions: yes, if you want to create $1300 of taxable income it really is as simple as converting $1300 from your traditional IRA to your Roth IRA. It won't matter whether you or your wife converts since it's only total household income that matters for both AC...
by FIREchief
Thu Sep 24, 2020 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Should I go for online Will making software?
Replies: 81
Views: 5592

Re: Should I go for online Will making software?

The only wrinkle I have is old trust/will from another state from 10 years back. Can the online software take care of Reinstation? Why do you think this will be an issue? Wouldn't the new document simply supersede any older documents? Does anybody other than you even have a signed copy of the prior...
by FIREchief
Wed Sep 23, 2020 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Dental practice billing
Replies: 37
Views: 3150

Re: Dental practice billing

Is this really a dentist's office? Yikes!!
by FIREchief
Tue Sep 22, 2020 1:43 am
Forum: Personal Finance (Not Investing)
Topic: Amended return hasn't been processed in ~2 months.
Replies: 27
Views: 2027

Re: Amended return hasn't been processed in ~2 months.

I filed an amended return mid February. IRS hotline still says it was received but not processed. Am I the winner for the longest delay? Possibly, but not by much!! :P I sent in an amended return for 2019 after I realized that I forgot to write "rollover" next to one of the lines. They ha...
by FIREchief
Tue Sep 22, 2020 1:39 am
Forum: Personal Finance (Not Investing)
Topic: Trust Beneficiary Modification
Replies: 57
Views: 2988

Re: Trust Beneficiary Modification

If the father and the two children, being all of the beneficiaries, and the trustees agree, who could object? Of course, the trustees may not go along if they are independent and are being asked to do something that is not allowed by the terms of the trust. If, however, they are family or the like,...
by FIREchief
Tue Sep 22, 2020 1:26 am
Forum: Personal Finance (Not Investing)
Topic: HDHP versus PPO
Replies: 43
Views: 2427

Re: HDHP versus PPO

Fyi, a PPO plan can also be an HDHP plan. I am on one now. Not through the Exchange however. Yes. I don't understand the thread title. It's generally HDHP vs. any plan that doesn't meet the HDHP requirements for an HSA. It's also HMO vs. PPO. There are HDHP HMOs and HDHP PPOs and also HMOs and PPOs...
by FIREchief
Mon Sep 21, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Challenging a physician's bill
Replies: 82
Views: 5499

Re: Challenging a physician's bill

I'm appalled at a few things, including the fact that any PCP charges $525 for an eight-minute "physical"! The money my PCP receives for my 8 minute physical also pays her for 12 months of coverage for phone calls, portal messaging, prescription refills, test result interpretation/feedbac...
by FIREchief
Mon Sep 21, 2020 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Challenging a physician's bill
Replies: 82
Views: 5499

Re: Challenging a physician's bill

What does it mean for a provider to tell you that they "accept your insurance?" It may mean nothing more than that they will see you on the hopes of ultimately being paid by someone. When is comes to private insurance, in close to 100% of the cases the terms "in network," "o...
by FIREchief
Mon Sep 21, 2020 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Home Listing Mess-Up
Replies: 36
Views: 3885

Re: Home Listing Mess-Up

Coltrane75 wrote: Mon Sep 21, 2020 9:27 am I choice my current one because he was from Redfin with a lower commission.
Is this one of those deals where you take your own photos?
by FIREchief
Mon Sep 21, 2020 1:15 pm
Forum: Investing - Theory, News & General
Topic: Doesn't it still make sense to hold bonds in tax advantaged?
Replies: 37
Views: 2756

Re: Doesn't it still make sense to hold bonds in tax advantaged?

I have seen some comments on the forum that this perhaps is no longer the case due to extremely low interest rates and yields on stocks being more than bonds. Please clarify what you mean by "tax advantaged." Both traditional and Roth IRAs are considered tax advantaged, and the answers mi...
by FIREchief
Sat Sep 19, 2020 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Trust discretionary distributions: couple questions
Replies: 4
Views: 348

Re: Trust discretionary distributions: couple questions

Are there successor beneficiaries that might reasonably be expected to challenge the trustee's actions?
by FIREchief
Fri Sep 18, 2020 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance Medical Report (MIB): Should I Apply for a New Policy and Risk Blacklisting?
Replies: 12
Views: 799

Re: Insurance Medical Report (MBB): Should I Apply for a New Policy and Risk Blacklisting?

In my experience, insurance companies don’t do the real deep dive until a claim is made.
by FIREchief
Fri Sep 18, 2020 6:03 pm
Forum: Personal Consumer Issues
Topic: Anybody else enjoy sitting around and doing little in retirement?
Replies: 106
Views: 14657

Re: Anybody else enjoy sitting around and doing little in retirement?

I thought people love to retire to Florida. Yes, so did I. Hence, here I am. I think a major part of it is geography. I've met very few westerners who retire here. Cheap, close to relatives, already used to humid summers, and no snow. I can see the appeal to folks who've lived their lives east of t...
by FIREchief
Fri Sep 18, 2020 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Estate considerations with sibling living in home owned by parent
Replies: 33
Views: 2686

Re: Estate considerations with sibling living in home owned by parent

bluebolt wrote: Fri Sep 18, 2020 4:47 pm Parent's will does not specifically call out the property, but divides all assets equally among all siblings.
Who does the will nominate to serve as executor?
by FIREchief
Fri Sep 18, 2020 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Estate considerations with sibling living in home owned by parent
Replies: 33
Views: 2686

Re: Estate considerations with sibling living in home owned by parent

Unless spelled out in the will or other legal documents, one cannot assume anything about dividing a house among the siblings, the estate making mortgage payments, etc. Wouldn't an executor typically be responsible for continuing the mortgage payments (whether specifically required by the will or n...
by FIREchief
Fri Sep 18, 2020 12:36 pm
Forum: Investing - Theory, News & General
Topic: what percent of retirement should be invested in tax deferred vs tax free accounts?
Replies: 39
Views: 3244

Re: what percent of retirement should be invested in tax deferred vs tax free accounts?

It is impossible to determine optimal because of the three great unknowns: a) you don't know what the market is going to do b) you don't know what Washington is going to do c) you don't know how long you are going to live That said, I'll agree with another poster that making Roth contributions while...
by FIREchief
Fri Sep 18, 2020 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Failure to go through probate
Replies: 3
Views: 817

Re: Failure to go through probate

House was jointly owned, but some assets was listed only in his name. Were these individually owned assets significant? Were they the types of assets formally titled in his name (e.g. financial accounts, vehicles, etc.) or un-titled personal property (e.g. collectibles)? Has she checked to see if T...
by FIREchief
Thu Sep 17, 2020 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Reimbursing mileage for HSA
Replies: 26
Views: 1460

Re: Reimbursing mileage for HSA

I realize that an employer policy from several years ago could differ from IRS regulations. After doing some more searching, my understanding is that publication 463 provides guidance for both business and personal mileage deductions without differentiating a less onerous process for personal tax r...
by FIREchief
Thu Sep 17, 2020 3:24 pm
Forum: Investing - Theory, News & General
Topic: TIPS Funds vs Direct Purchase from Treasury Direct
Replies: 25
Views: 1929

Re: TIPS Funds vs Direct Purchase from Treasury Direct

If the Fed switched to a 4% target, and decided to suppress yields till they reached it, you would be very happy to have TIPS! :sharebeer Since they haven't been able to hit even 2%..... Yep! That's the thing about unexpected inflation. It's unexpected!! :sharebeer Hey, I'll share a beer any time, ...
by FIREchief
Thu Sep 17, 2020 2:17 pm
Forum: Investing - Theory, News & General
Topic: TIPS Funds vs Direct Purchase from Treasury Direct
Replies: 25
Views: 1929

Re: TIPS Funds vs Direct Purchase from Treasury Direct

gmaynardkrebs wrote: Thu Sep 17, 2020 2:07 pm
FIREchief wrote: Thu Sep 17, 2020 1:48 pm
Robot Monster wrote: Thu Sep 17, 2020 1:13 pm If the Fed switched to a 4% target, and decided to suppress yields till they reached it, you would be very happy to have TIPS!
:sharebeer
Since they haven't been able to hit even 2%.....
Yep! That's the thing about unexpected inflation. It's unexpected!! :sharebeer
by FIREchief
Thu Sep 17, 2020 1:48 pm
Forum: Investing - Theory, News & General
Topic: TIPS Funds vs Direct Purchase from Treasury Direct
Replies: 25
Views: 1929

Re: TIPS Funds vs Direct Purchase from Treasury Direct

Robot Monster wrote: Thu Sep 17, 2020 1:13 pm If the Fed switched to a 4% target, and decided to suppress yields till they reached it, you would be very happy to have TIPS!
:sharebeer
by FIREchief
Thu Sep 17, 2020 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Misspelled Trust Name in IRS Form
Replies: 19
Views: 1269

Re: Misspelled Trust Name in IRS Form

Yikes!! I didn't read every post, but this attorney sounds awful. :annoyed
by FIREchief
Thu Sep 17, 2020 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Bypass-trust seems to be no longer feasible for inherited IRA?
Replies: 28
Views: 2099

Re: Bypass-trust seems to be no longer feasible for inherited IRA?

But they might indulge the crazy grantor who did not want to take advantage of their world-beating investment brilliance. LOL. You would certainly think so, but it's a strange world (especially in this realm). Maybe you and I should start the "afan and FIREchief" independent trustee LLC, ...
by FIREchief
Thu Sep 17, 2020 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Bypass-trust seems to be no longer feasible for inherited IRA?
Replies: 28
Views: 2099

Re: Bypass-trust seems to be no longer feasible for inherited IRA?

It would be more whether the trustee could add a beneficiary (the charity). I agree that, since this is not a person, it might not be permitted to change the trust at that point. I think this is pretty cut and dried. If a trustee is allowed to add a non-individual beneficiary, than the trust will n...
by FIREchief
Thu Sep 17, 2020 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Reimbursing mileage for HSA
Replies: 26
Views: 1460

Re: Reimbursing mileage for HSA

And because of how they are treated during inheritance and with no RMDs ever required you can kind of look at them along with your Roth bucket - or even better than a Roth bucket because they reduced your taxes now. They're actually pretty bad for inheritance because unless the inheritor is a spous...
by FIREchief
Thu Sep 17, 2020 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Reimbursing mileage for HSA
Replies: 26
Views: 1460

Re: Reimbursing mileage for HSA

Home address and provider address is all I track. Mileage from google maps. I can’t imagine the IRS expecting anything more. 8-) Several years ago I had a trip reimbursement package rejected by an employer because my receipts included a Google Maps printouts showing how I calculated the mileage. Th...
by FIREchief
Thu Sep 17, 2020 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Bypass-trust seems to be no longer feasible for inherited IRA?
Replies: 28
Views: 2099

Re: Bypass-trust seems to be no longer feasible for inherited IRA?

If you have an accumulation trust, can the trustee have authority to create a charitable remainder trust if that appears to be appropriate? Could the trustee do this down the road, years after the grantor's death, in response to tax laws and the circumstances of the beneficiaries? If so, then one m...
by FIREchief
Wed Sep 16, 2020 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Can ROTH Conversion prevent ROTH IRA Contribution
Replies: 13
Views: 655

Re: Can ROTH Conversion prevent ROTH IRA Contribution

There is a worksheet in the 1040 instructions that backs out the Roth conversions.
by FIREchief
Wed Sep 16, 2020 4:01 pm
Forum: Personal Investments
Topic: "Refinance" mortgage for a family member @ 2%?
Replies: 46
Views: 2982

Re: "Refinance" mortgage for a family member @ 2%?

Making it a "real" loan and placing a lien on the property will protect both of you. The best asset protection for a house is a mortgage.
by FIREchief
Wed Sep 16, 2020 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Trust & Beneficary Designation
Replies: 7
Views: 628

Re: Revocable Trust & Beneficary Designation

BTW tax deferred accounts such as traditional & Roth IRAs should NOT be titled to the revocable trust, and should have a designated beneficiary. Is it even possible/legal to title a tax deferred account in the name of a trust? I think not, although the trust could be named as the beneficiary (a...
by FIREchief
Wed Sep 16, 2020 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Reimbursing mileage for HSA
Replies: 26
Views: 1460

Re: Reimbursing mileage for HSA

Home address and provider address is all I track. Mileage from google maps. I can’t imagine the IRS expecting anything more. 8-) IRS rate may change each year. It’s 17 cents per mile for 2020. Interesting. So which mileage rate matters? I presume it would be the year its claimed not the year it act...
by FIREchief
Wed Sep 16, 2020 1:12 am
Forum: Personal Finance (Not Investing)
Topic: Reimbursing mileage for HSA
Replies: 26
Views: 1460

Re: Reimbursing mileage for HSA

Home address and provider address is all I track. Mileage from google maps. I can’t imagine the IRS expecting anything more. 8-) IRS rate may change each year. It’s 17 cents per mile for 2020. Interesting. So which mileage rate matters? I presume it would be the year its claimed not the year it act...
by FIREchief
Tue Sep 15, 2020 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Reimbursing mileage for HSA
Replies: 26
Views: 1460

Re: Reimbursing mileage for HSA

Home address and provider address is all I track. Mileage from google maps. I can’t imagine the IRS expecting anything more. 8-)

IRS rate may change each year. It’s 17 cents per mile for 2020.
by FIREchief
Tue Sep 15, 2020 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Bypass-trust seems to be no longer feasible for inherited IRA?
Replies: 28
Views: 2099

Re: Bypass-trust seems to be no longer feasible for inherited IRA?

Just thinking out loud here but could an SPIA possibly make sense here for assets above the exemption? Removes those assets from the estate, protects against longevity, and still would likely provide an inheritance with the remaining assets. Not perfect, but does this potentially eliminate both the...
by FIREchief
Mon Sep 14, 2020 3:46 pm
Forum: Investing - Theory, News & General
Topic: TIPS Funds vs Direct Purchase from Treasury Direct
Replies: 25
Views: 1929

Re: TIPS Funds vs Direct Purchase from Treasury Direct

gmaynardkrebs wrote: Mon Sep 14, 2020 12:34 pm You're locking in a roughly 10% real loss over ten years. I'm willing to risk a 10% real loss on an investment, but the idea of locking one in in advance rubs me the wrong way. Yes, I know it's irrational to think that way. But....I do,
What will you do with that money if you don’t buy the TIPS?
by FIREchief
Mon Sep 14, 2020 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Part C / SS statement has Part B premium deduction
Replies: 10
Views: 657

Re: Medicare Part C / SS statement has Part B premium deduction

This is likely correct. I’m not on Medicare but believe that part C premiums are in addition to part B premiums.
by FIREchief
Sun Sep 13, 2020 4:21 pm
Forum: Investing - Theory, News & General
Topic: TIPS Funds vs Direct Purchase from Treasury Direct
Replies: 25
Views: 1929

Re: TIPS Funds vs Direct Purchase from Treasury Direct

Hi everyone. I have been reading about TIPS Funds (like VIPSX) and purchasing direct TIPS from Treasury Direct. It has come to my attention that it is possible for funds, such as VIPSX, to actually go down in value. I am not sure how this is possible, because I thought TIPS were almost guaranteed t...
by FIREchief
Sat Sep 12, 2020 4:38 pm
Forum: Personal Investments
Topic: Is it Possible to Opt-out of Fidelity Premium Services?
Replies: 37
Views: 4024

Re: Is it Possible to Opt-out of Fidelity Premium Services?

nedsaid wrote: Sat Sep 12, 2020 3:58 pm I actually took the bait and met with a Fidelity Advisor. It was a pleasant experience
95% of those on the forum who have done this report similar experiences (and the other 5% may just be making stuff up for attention). 8-)
by FIREchief
Sat Sep 12, 2020 4:37 pm
Forum: Personal Investments
Topic: Is it Possible to Opt-out of Fidelity Premium Services?
Replies: 37
Views: 4024

Re: Is it Possible to Opt-out of Fidelity Premium Services?

softwaregeek wrote: Sat Sep 12, 2020 3:22 pm The key benefit for a lot of these things is phone wait time. At most institutions, your call gets answered in order of your account tier.
I believe that this is correct. It may also be that the person answering the phone is more senior and/or has better customer feedback.
by FIREchief
Fri Sep 11, 2020 4:44 pm
Forum: Investing - Theory, News & General
Topic: Timing the market for Roth Conversions. Sin?
Replies: 18
Views: 960

Re: Timing the market for Roth Conversions. Sin?

Does anyone else try to time the market for Roth conversions? Is it a Boglehead sin? Do you have a more defined algorithm than me? What is it? :mrgreen: Never. Since the death of recharacterizations, I just convert substantially all of my annual target on Jan 2. I did consider increasing my target ...
by FIREchief
Sun Sep 06, 2020 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Buying vs. Renting Principles
Replies: 206
Views: 14014

Re: Buying vs. Renting Principles (Sticky Thread Request)

Divided by the market value of the home, and we're getting about a 4.2% imputed return vs. renting. Inflation would increase the cost of ownership (i.e. the $7k spent each year) but would also increase the benefit from owning (i.e. the $13.4k). Considering that we're very aggressive with our invest...