Trusts for adult Children

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
WannabeAgAlum
Posts: 73
Joined: Mon Apr 03, 2017 10:55 pm

Re: Trusts for adult Children

Post by WannabeAgAlum » Sun Jan 14, 2018 2:00 am

samsmith: The estate's TIN is tied to the decedent's SSN. The form SS4 (to apply for an EIN) asks for the decedent's SSN. Does this answer your question?

Wannabe

FoolMeOnce
Posts: 291
Joined: Mon Apr 24, 2017 11:16 am

Re: Trusts for adults Children

Post by FoolMeOnce » Wed Jan 17, 2018 9:51 am

DrGoogle2017 wrote:
Tue Jan 09, 2018 5:43 pm
FoolMeOnce wrote:
Tue Jan 09, 2018 4:40 pm
Perhaps DrGoogle2017 lives in Alaska: https://www.statista.com/statistics/303 ... ptcy-rate/
Don’t post anything that I have to register and pay $49 to read. That’s how one can go bankrupt.

Here is what I’ve found on a free link.
http://www.uscourts.gov/news/2017/01/25 ... level-2006
Weird, I have not registered and paid. When I looked last week on my laptop, I could see the chart and info. When I look now on mobile, it says I have to register and pay. Sorry about that.

bsteiner
Posts: 3497
Joined: Sat Oct 20, 2012 9:39 pm
Location: NYC/NJ/FL

Re: Trusts for adult Children

Post by bsteiner » Wed Jan 17, 2018 10:16 am

FIREchief wrote:
Thu Jan 11, 2018 5:12 pm
... I started looking into the website for the fancy sounding national estate attorney "society" that they proudly advertised their memberships in. I found a section geared towards selling their software product to member law firms. Then I found a video "tutorial" sales pitch on why law firms should buy their all-encompassing software (this includes the document generator you describe). I was really surprised and enlightened. It described the entire sales process from registration and the introductory seminar through cashing the checks. All laid out as a business model like you described. Basically, the process was a) sign up clients to attend hotel seminar, b) meet with junior attorney/salesperson who asks for check and assigns homework, c) office staff plugs numbers from homework into mega-computer and spits out 500 pages of fancy looking documents, d) office staff stuffs all this into the biggest, nicest gold embossed binder you have ever seen, e) client returns and signs their name 50 times and walks out with binder. It took me about two of my long list of questions to determine that I needed a "real" estate attorney. ...
If you go to the free dinner seminar and you're the one who buys the annuity, the living trust, the timeshare, or the bridge, not only did you pay for your free dinner, but you paid for the free dinners for everyone else in the room.

Be careful. The binders might be fake leather.

User avatar
FIREchief
Posts: 2691
Joined: Fri Aug 19, 2016 6:40 pm

Re: Trusts for adult Children

Post by FIREchief » Wed Jan 17, 2018 4:06 pm

bsteiner wrote:
Wed Jan 17, 2018 10:16 am
FIREchief wrote:
Thu Jan 11, 2018 5:12 pm
... I started looking into the website for the fancy sounding national estate attorney "society" that they proudly advertised their memberships in. I found a section geared towards selling their software product to member law firms. Then I found a video "tutorial" sales pitch on why law firms should buy their all-encompassing software (this includes the document generator you describe). I was really surprised and enlightened. It described the entire sales process from registration and the introductory seminar through cashing the checks. All laid out as a business model like you described. Basically, the process was a) sign up clients to attend hotel seminar, b) meet with junior attorney/salesperson who asks for check and assigns homework, c) office staff plugs numbers from homework into mega-computer and spits out 500 pages of fancy looking documents, d) office staff stuffs all this into the biggest, nicest gold embossed binder you have ever seen, e) client returns and signs their name 50 times and walks out with binder. It took me about two of my long list of questions to determine that I needed a "real" estate attorney. ...
If you go to the free dinner seminar and you're the one who buys the annuity, the living trust, the timeshare, or the bridge, not only did you pay for your free dinner, but you paid for the free dinners for everyone else in the room.

Be careful. The binders might be fake leather.
Absolutely. OTOH, I enjoy getting a high end steak dinner (along with an hour of entertainment), while letting somebody else pay the bill!

(Bruce: Thanks, but I've never bought any of those from the purveyors of free dinners/shows/cash/etc. and never will. :happy )
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

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