Search found 4381 matches

by afan
Sun Aug 18, 2019 10:19 am
Forum: Personal Consumer Issues
Topic: Aliens have captured my husband [wants to buy a Porsche]
Replies: 138
Views: 11377

Re: Aliens have captured my husband [wants to buy a Porsche]

All I know about Porsche cars is that they are 1. Expensive and 2. Marketed to people who want to drive fast. Much faster than the laws permit, since you can go the speed limit in a Camry hybrid. I am sure that any Porsche would run laps around my car if we went to a race track. Since I don't go to ...
by afan
Fri Aug 16, 2019 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2818

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

I have used Maxif and generally find it good. Some shortcomings: It assumes one has to start RMDs at 70, even if still working. There does not seem to be a way to fix this. It used to assume that all capital gains must be realized during life- no option to hold them till death and give heirs a stepp...
by afan
Tue Aug 13, 2019 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 204
Views: 25596

Re: Trust Services

4. Have an administrative trustee that has no responsibility for the investments. Let the beneficiaries manage the money. Or hire a non trustee to manage the money with instructions to keep it all in VTI. Or put in the terms if the trust that the only investment it is allowed to hold is VTI. This is...
by afan
Mon Aug 12, 2019 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Rate Reduction or Refinance
Replies: 14
Views: 716

Re: Rate Reduction or Refinance

If you are correct that the break even is only 2 months further along and there ia a big difference in monthly payments then you should be far ahead after a few years with the second option. But break even time is not the right way to analyze this because it ignores what happens after that point. Th...
by afan
Mon Aug 12, 2019 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: As a trustee, can I "settle" the financial portion of a trust on my own?
Replies: 21
Views: 1803

Re: As a trustee, can I "settle" the financial portion of a trust on my own?

I believe that doing nothing is always a legal option for somebody nominated to serve as executor within a decedent's will. I am sure it would be legal to refuse to serve. It would hardly live up to commitments made to the deceased to do right for the survivors. If you intend to bail out completely...
by afan
Mon Aug 12, 2019 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Trust to avoid Probate
Replies: 21
Views: 2023

Re: Trust to avoid Probate

[quote=AstroJohn post_id=4691925 time=1565554591 user_id=19347] I have always read that a significant advantage of a trust is the possibility of a successor trustee taking over in the event of disability. In my experience that has been easy compared to things like durable powers of attorney. Is that...
by afan
Mon Aug 12, 2019 10:30 am
Forum: Personal Finance (Not Investing)
Topic: As a trustee, can I "settle" the financial portion of a trust on my own?
Replies: 21
Views: 1803

Re: As a trustee, can I "settle" the financial portion of a trust on my own?

It can be hard to be sure that there are no final bills. Perhaps if the deceased owned little, including no real estate, was incapable of creating new creditors for long enough that the people taking care of them would know about all the costs. Otherwise, it would be wise to wait some amount of time...
by afan
Mon Aug 12, 2019 10:14 am
Forum: Personal Investments
Topic: We should not buy a condo in the Boston area, right?
Replies: 9
Views: 1298

Re: We should not buy a condo in the Boston area, right?

For all the reasons people have mentioned, this is risky. The price you are contemplating is a high cost given your income and assets. With your spouse's income unsure, and a family on the way, it would be risky to expect income to make up for this. Your price for a 3 BR condo in Boston sound very l...
by afan
Sun Aug 11, 2019 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Chubb/PURE vs "normal" insurance (lifelong renter)
Replies: 3
Views: 646

Re: Chubb/PURE vs "normal" insurance (lifelong renter)

We get a Chubb umbrella policy through work. When that started I priced Chubb for home and auto. Used the same coverages and limits as our current policies. The quote was so much higher than our SF coverage that I did not pursue to see whether any extras in the Chobb policy were worth the increased ...
by afan
Sun Aug 11, 2019 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: As a trustee, can I "settle" the financial portion of a trust on my own?
Replies: 21
Views: 1803

Re: As a trustee, can I "settle" the financial portion of a trust on my own?

I gather you are talking about settling the trust after the grantor has died. You certainly can do this all by yourself. Whether you should depends on the circumstances. It sounds like all the funds are to be distributed to the beneficiaries, rather than held in trust for them. If that is the case t...
by afan
Sat Aug 10, 2019 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Testamentary trust as beneficiary of an IRA?
Replies: 16
Views: 876

Re: Testamentary trust as beneficiary of an IRA?

Got that. My concern was more the ability to change the trust to react to changes in tax rules. Our attorney in fact has some powers to change things but I think it is limited to beneficiary designations, as you suggest. What if tax rules change, say the IRS finally promulgates regulations that defi...
by afan
Sat Aug 10, 2019 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Testamentary trust as beneficiary of an IRA?
Replies: 16
Views: 876

Re: Testamentary trust as beneficiary of an IRA?

The question I thought Firechief was asking: With the constant changes in tax laws, it would be helpful to have someone who can change the terms of the accumulation trust in response. The accumulation trust comes into existence under a will when the testator dies. I suppose the trust already exists ...
by afan
Fri Aug 09, 2019 12:54 pm
Forum: Investing - Theory, News & General
Topic: A look at funds managed by the Vanguard Quantitative Equity Group (VUVLX, VSEQX, VSTCX, VMNFX, VMNVX, VASFX, VPGDX)
Replies: 27
Views: 8262

Re: A look at funds managed by the Vanguard Quantitative Equity Group (VUVLX, VSEQX, VSTCX, VMNFX, VMNVX, VASFX, VPGDX)

I don't get the market neutral fynd either, but for a different reason. Assume one accepts that there is no reason to expect an active manager to beat the market in picking what stocks to buy. Pretty safe assumption. So why would one expect an active manager to beat the market in picking stocks to s...
by afan
Tue Aug 06, 2019 1:57 pm
Forum: Investing - Theory, News & General
Topic: Personal Flagship Representaive Going Away
Replies: 126
Views: 13867

Re: Personal Flagship Representaive Going Away

Have had an assigned Flagship rep for years. Have never spoken to them. If I wanted something I would send a message and someone would address the issue. Works fine. On the rare cases where I called my Flagship rep has never been available and I spoke with whoever answered the phone.
by afan
Sun Aug 04, 2019 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Individual stocks in Will
Replies: 16
Views: 862

Re: Individual stocks in Will

OP said that there is a trust to be set up. If the stocks are in the trust then there will be no probate.
by afan
Sat Aug 03, 2019 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Bloomberg: Forget Tech, Medicine Still Pays More
Replies: 124
Views: 9900

Re: Bloomberg: Forget Tech, Medicine Still Pays More

People who do not get residencies tend to have major black marks on their records. For some this is simply terrible performance in medical school. At some places it is possible to graduate with so little skills and knowledge that no one really considers you ready to enter training. For others it is ...
by afan
Sat Aug 03, 2019 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 204
Views: 25596

Re: Trust Services

The assets will all be at VG so one question if anyone has experience. If they need/want help managing the portfolio as trustees, can they hire VG PAS to do so without appointing VG as a co-trustee? Yes, the trustees can hire PAS to manage the assets. They could just as well hire a different firm t...
by afan
Fri Aug 02, 2019 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 204
Views: 25596

Re: Trust Services

Not Gill, but most trust companies will handle real estate. It is just Vanguard that will not. Whether your real estate should be in trust depends on individual situation, type of real estate, marital status and state law. You would need an attorney to figure that out for you. When I checked Schwab ...
by afan
Fri Aug 02, 2019 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Durable Power of Attorney: Implementation Report
Replies: 60
Views: 5469

Re: Durable Power of Attorney: Implementation Report

Long ago our attorney said not to use springing powers if we had any choice. He said that they lead to all sorts of problems proving that the springing event has occurred. We use funded living trusts with co (not successor) trustees. Same people have DPOA and health care proxy. We each have poa, usi...
by afan
Fri Aug 02, 2019 5:02 am
Forum: Personal Investments
Topic: Vanguard Frustrations - No Free Trades/Matching Offers
Replies: 75
Views: 4174

Re: Vanguard Frustrations - No Free Trades/Matching Offers

Instead of selling this junk from Wealthfront, I would donate them to the DAF. Problem solved. Going forward, stick with etf's . No commissions. I cannot see the logic in signing up for $7 trades, then complaining when they say they will charge you $7 for trades. You could move enough to V to get th...
by afan
Thu Aug 01, 2019 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 204
Views: 25596

Re: Trust Services

Since there are companies that will serve as administrative trustee without managing investments, it is no longer necessary to find one that will do a simple index fund portfolio. You can hire your own investment manager who will do this. Or set it up so that one or more of the beneficiaries can do ...
by afan
Wed Jul 31, 2019 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Burned the mortgage. Change the insurance?
Replies: 27
Views: 2054

Re: Burned the mortgage. Change the insurance?

Fascinating. We have had a deductible way over $1,000 forever. The multiple banks that have held mortgages have received copies of the coverage and never said anything about the high deductible.
by afan
Wed Jul 31, 2019 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Storing documents--- trust, will, etc.
Replies: 22
Views: 2144

Re: Storing documents--- trust, will, etc.

Our lawyer has copies of all the documents. We have paper copies at home. As best I can tell, both of these are "original." We have photocopies in our joint sdb. Also in the sdb are pdfs on a thumbdrive. The personal representative and his successor (same identities as successor trustees and DPOA) h...
by afan
Wed Jul 31, 2019 7:18 am
Forum: Personal Finance (Not Investing)
Topic: Bloomberg: Forget Tech, Medicine Still Pays More
Replies: 124
Views: 9900

Re: Bloomberg: Forget Tech, Medicine Still Pays More

Docs do not have nearly the autonomy that some people assume. Much of their work is constantly second guessed or blocked by bureaucrats and insurance companies. Lots of counterproductive busy work. These factors account for much of the burnout. Most medicine is practiced as teams, not solo. Getting ...
by afan
Tue Jul 30, 2019 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Bloomberg: Forget Tech, Medicine Still Pays More
Replies: 124
Views: 9900

Re: Bloomberg: Forget Tech, Medicine Still Pays More

A student absolutely should consider compensation when choosing a career. That is not the only factor but it is important. Right now one can start earning 6 figures straight out of college. Going to medical school not only keeps one out of the labor market for four more years but forces most people ...
by afan
Sat Jul 27, 2019 9:11 pm
Forum: Investing - Theory, News & General
Topic: My Fido retirement meeting pushing me to SMA
Replies: 90
Views: 8192

Re: My Fido retirement meeting pushing me to SMA

I don't get the appeal of having physical offices nearby. I would far prefer to do everything online, after hours, from the comfort of my home. Anything I might do face to face at the office will then disappear into the bureaucracy, be handled by other nameless people I will never meet and move from...
by afan
Sat Jul 27, 2019 7:21 pm
Forum: Investing - Theory, News & General
Topic: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.
Replies: 53
Views: 7335

Re: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.

Not sure why there is such a negative reaction to this article. We all think we’re great at investing, but statistics show the opposite. Gallup found that only 1/3 of working adults thought that social security would be a major part of their retirement income. Yet about 2/3 of retirees depend on so...
by afan
Sat Jul 27, 2019 7:04 pm
Forum: Investing - Theory, News & General
Topic: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.
Replies: 53
Views: 7335

Re: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.

Disappointing that a newspaper would quote the Dalbar nonsense as if it were meaningful. Useless article but better than average for the Times.
by afan
Sat Jul 27, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Natl. Trust Co. - Important Information
Replies: 62
Views: 5746

Re: Vanguard Natl. Trust Co. - Important Information

Part of the issue is uncertainty as to what Vanguard might refuse to accept.

Would the trust say that the other trustee(s) will handle asset that Vanguard rejected, whatever they might be? If one has a ready alternative trustee who could and would do this, then what would be the need for Vanguard?
by afan
Sat Jul 27, 2019 4:04 pm
Forum: Personal Investments
Topic: Are Bonds Still Necessary Ballast in a Long-Term Trust Fund?
Replies: 33
Views: 2513

Re: Are Bonds Still Necessary Ballast in a Long-Term Trust Fund?

No problem, I love to gripe! It was with Northern Trust, I can't say enough bad things about them. I'm in the process of moving to Schwab. It will save about 75%+ in annual fees (and almost certainly better investment returns from a more buy and hold, ETF approach) and I prefer their management phi...
by afan
Sat Jul 27, 2019 9:46 am
Forum: Personal Investments
Topic: Are Bonds Still Necessary Ballast in a Long-Term Trust Fund?
Replies: 33
Views: 2513

Re: Are Bonds Still Necessary Ballast in a Long-Term Trust Fund?

So one beneficiary gets all the income? How do you account for the interest of the other beneficiary? Does the second person get an ever increasing share of the principal? If you have one trust for two people, only one of whom needs the money, it may still be worthwhile to keep some income in the tr...
by afan
Sat Jul 27, 2019 9:20 am
Forum: Personal Investments
Topic: Do-it-yourself Joint Trust (MA) for Brokerage/Checking/House?
Replies: 7
Views: 509

Re: Do-it-yourself Joint Trust (MA) for Brokerage/Checking/House?

Those fees sound high, even for top quality experienced experts in estates and trusts, unless your situation is in reality more complicated than you think. The lawyers may be picking up on that and giving you fair prices for what they would have to do. But it pays to shop around. There are plenty of...
by afan
Sat Jul 27, 2019 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Finding a preparer for complex tax returns and consultation
Replies: 20
Views: 1775

Re: Finding a preparer for complex tax returns and consultation

Since you have accountants and lawyers on the thread, you might post more detail about your tax situation. They could then advise on the level of expertise actually required for your returns. That would give you a better idea of where to look for expertise. Although you may need someone who knows th...
by afan
Fri Jul 26, 2019 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Natl. Trust Co. - Important Information
Replies: 62
Views: 5746

Re: Vanguard Natl. Trust Co. - Important Information

Schwab has changed their trust offerings. In the past, the only way to have them serve as administrative trustee was to have an investment advisor who is part of the Advisor Network. The option remains, but Schwab will now also serve as trustee, handling both the administrative and the investment du...
by afan
Thu Jul 25, 2019 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Do I include taxes when calculating a retirement number?
Replies: 63
Views: 5546

Re: Do I include taxes when calculating a retirement number?

Income will determine income taxes. Expenses will determine the income needed. The level of income that you get by estimating expenses, as well as the source of income, will be the basis for estimates of after tax income available. You need your after tax income to exceed your expenses. Here, one in...
by afan
Wed Jul 24, 2019 7:35 pm
Forum: Investing - Theory, News & General
Topic: Former Harvard Endowment Hotshot Jack Meyer Closes Hedge Fund
Replies: 7
Views: 1535

Re: Former Harvard Endowment Hotshot Jack Meyer Closes Hedge Fund

It may be true that donors will give more money if the college can show high investment returns but it does not make sense. Markets are efficient. The only way to beat the market is to hold an undiversified portfolio, overweighted in some assets and underweighted in others. The deviations from marke...
by afan
Tue Jul 23, 2019 9:36 am
Forum: Investing - Theory, News & General
Topic: Vanguard considering move to Private Equity
Replies: 3
Views: 947

Re: Vanguard considering move to Private Equity

Per my conversation with VG Advisor last week, if this does happen, retail investors will not be eligible to participate. Interesting. A prior thread suggested that the PE offerings would be available to individuals. Perhaps only accredited investors who are PAS clients but that is more liberal tha...
by afan
Mon Jul 22, 2019 4:36 pm
Forum: Personal Investments
Topic: How does Vanguard PAS service handle existing positions in taxable?
Replies: 7
Views: 993

Re: How does Vanguard PAS service handle existing positions in taxable?

If you think you know that some should be sold, you probably have good reasons for thinking so. If you just want someone else to deal with it, the hourly fee approach might give you suggestions as to what to do, but those advisors would not actually do the transactions for you. For that you would ne...
by afan
Mon Jul 22, 2019 4:30 pm
Forum: Personal Investments
Topic: How does Vanguard PAS service handle existing positions in taxable?
Replies: 7
Views: 993

Re: How does Vanguard PAS service handle existing positions in taxable?

I have one set of friends who have used PAS. They brought in a portfolio including many individual stock positions, many with capital gains. According to my friends, PAS did not automatically sell all of the positions. Instead, they retained some and took taxes into account when deciding what to sel...
by afan
Mon Jul 22, 2019 5:28 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Natl. Trust Co. - Important Information
Replies: 62
Views: 5746

Re: Vanguard Natl. Trust Co. - Important Information

The level of interest of the trust company is why I would rather be in the asset range of their typical trust. That rules out the biggest companies, I suspect, since many have high minimums. Beesemer has a $10 M minimum, for example. That implies that their typical account is much larger than that. ...
by afan
Sun Jul 21, 2019 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Natl. Trust Co. - Important Information
Replies: 62
Views: 5746

Re: Vanguard Natl. Trust Co. - Important Information

Unfortunately, it does interfere in my estate plan to the extent I preferred this portion of my portfolio to be in trust rather than pass outright. However, at this juncture I’m leaning toward having them pass outright free of the trust rather than removing VNTC as successor trustee. If I’m unable ...
by afan
Sun Jul 21, 2019 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Natl. Trust Co. - Important Information
Replies: 62
Views: 5746

Re: Vanguard Natl. Trust Co. - Important Information

This would be a solution provided keeping the bonds outside of the trust does not interfere with your estate plan. It also assumes that there will be no need for your successor trustee to step in while you are alive. If you go through a period when you can no longer manage your affairs you may not b...
by afan
Sun Jul 21, 2019 12:45 pm
Forum: Investing - Theory, News & General
Topic: Has DFA failed to innovate and keep up
Replies: 59
Views: 5316

Re: Has DFA failed to innovate and keep up

DFA does not limit itself to small value. It uses other factors as well One can get factor tilted funds from mnay vendors, not just DFA. One can get tilted funds for lower costs. The founders of DFA became very wealthy. This is capitalism. They made a product that many wanted to buy and pay high mar...
by afan
Sat Jul 20, 2019 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Natl. Trust Co. - Important Information
Replies: 62
Views: 5746

Re: Vanguard Natl. Trust Co. - Important Information

Because of the various limitations of VNTC my current plan is to find a bank that will serve as directed trustee and have the beneficiaries manage the assets themselves, getting help if they want it. They can change trustee if they like. This does create a risk that they might make a bad choice in m...
by afan
Fri Jul 19, 2019 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: NYT Article: Safe Deposit Boxes Aren't Safe
Replies: 96
Views: 9211

Re: NYT Article: Safe Deposit Boxes Aren't Safe

I am surprised anyone thought the bank would insure your possessions in a safe deposit box. They have no idea what you may may put in it. How could they possibly insure whatever is inside? Since the people in the article are suing the bank, I assume they were not insured. If they had been, then it m...
by afan
Tue Jul 16, 2019 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 204
Views: 25596

Re: Trust Services

Although my interest in a directed trustee is mainly having administrative tasks handled without the trusree doing the investing, the asset protection for heirs is appealing. I had the impression that SD and Nevada had the strongest asset protection. Is that correct? More than Delaware, Alaska or NH...
by afan
Tue Jul 16, 2019 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Having second thoughts about Personal Capital
Replies: 30
Views: 3384

Re: Having second thoughts about Personal Capital

I consider the difficulty of logging in to all my accounts to be a feature, not a bug. I WANT it to be hard to collect all that info. I check the value of my investment accounts and update my networth spreadsheet twice a year, if I remember. At least once a year. Since I would not change anything ba...
by afan
Tue Jul 16, 2019 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 204
Views: 25596

Re: Trust Services

If a client comes in with what is to a bank a big trust they may be able to negotiate not only the fees but how the assets are managed. Many big trusts hold undiversified portfolios that reflect how the grantor got rich. Such grantors would discuss the importance to the family of, say, holding on to...
by afan
Tue Jul 16, 2019 5:01 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 204
Views: 25596

Re: Trust Services

That would be a great way to ruin an estate plan. If there was a good reason to establish the trust, then it would be crazy to throw it out because you could not agree with one trustee. Instead of ending the trust, just hire a different trustee. As Gill points out, a projected bank income of $70k ov...
by afan
Mon Jul 15, 2019 5:32 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 204
Views: 25596

Re: Trust Services

I suspect it is because there is a traditional defense against claims of improper behavior. Probably so well established that following the usual procedures can shut down many suits long before they get to court. There are plenty of experts who would happily claim that an all index portfolio is irre...