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e-filed for my deceased mother, and needed a paper check rather than electronic payment. It took 3 weeks for the check to arrive.

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That’s what markets do. +1 I see your point but I disagree as this is different. You refer to 2013 but that was a full 5+ years after the great recession low. Now we aren't even out of the great pandemic of 2020 and in March 2021 we are at all time highs. In March 2020 the Dow got down to about 18,...

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Are they going to get a mortgage on this house, or is this a $170K house? If a mortgage, are they going to disclose that they have a $170K loan outstanding? Because either they have to disclose the loan, even if it means a higher interest rate, or you have to call it a gift from the start. You can t...

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For financial aid purposes, the 529 will be treated like any other after-tax account. So if you make too much money to qualify for financial aid, which you likely will, then using a 529 to reduce your tax burden on college expenses make sense. And if you have $1M in 529s, you have demonstrated that ...

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You can order checks online and specify how the account owner is listed. It can list Jane Doe, doesn't have to list Jane Doe Trust, Jane Doe Trustee.

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My trust account (my name only) at Vanguard is paperless, my husband's trust account there (his name only) sends paper statements and we can't seem to change it to paperless. One of life's mysteries we've given up on solving. So the trust is in one name. But are there 2 trustees for each trust? In ...

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I couldn’t help but think of this when I read this thread... Late 90s Photo Of Divorcing Couple Splitting Up Their Beanie Babies Now that is a picture worth 1000 words or more! Glad we made sure each Beanie Baby that entered our household was de-tagged and treated like a toy. We wanted to discourag...

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My trust account (my name only) at Vanguard is paperless, my husband's trust account there (his name only) sends paper statements and we can't seem to change it to paperless. One of life's mysteries we've given up on solving.

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I am never surprised about what I owe at tax time, because tax planning has prepared me for what the total tax obligation for the year will be, and I know how much has been withheld or paid through quarterly estimates. I make sure to pay enough to avoid penalties. That said, it's been about 25% of ...

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I am never surprised about what I owe at tax time, because tax planning has prepared me for what the total tax obligation for the year will be, and I know how much has been withheld or paid through quarterly estimates. I make sure to pay enough to avoid penalties. That said, it's been about 25% of A...

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Looks like they are in great shape financially, but maybe you could help them learn to spend more. Not on designer handbags and luxury travel (not that there is anything wrong with either) but on household help. People that age who have always been frugal probably do their own lawn care, housekeepin...

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This thread is 100% depressing and makes me want to spend every penny I have. That's funny, I find the thread quite fascinating! It's like a sci-fi reading to me and very entertaining. I grew up in what Americans would call extreme poverty. I don't expect to inherit anything. I don't even know anyo...

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If she has no other assets, you need to consider the possibility that if she ever has to go to a nursing home her home equity would be used to pay for her care, and there would be nothing left to distribute after her death. So I wouldn't advise paying her mortgage (lump sum or monthly supplements) a...

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I'm vaguely familiar with estate sales, having attended a few, but never having arranged one. I would assume, very possibly incorrectly, that this is not entirely an option for a hoarders house in the early stages. In the early stages I had several professional moving companies refuse to even bid t...

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check estatesales.net and their zip code. browse sales in the area and call a couple of th companies.

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3 kids are joint executors My parent's will is set up this way for my two siblings and I. We all get along and quite frankly are all financially secure so I don't think there will be too much drama as we split everything three ways. My concern has always been how much hassle(and possibly expense) i...

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Are you talking about the Drivers License Number of other ID that Turbo Tax asks for? My state doesn't require it, so I skip it on my own taxes. My mom's state doesn't have state income taxes, so I skipped it on the Turbo Tax form I sent yesterday for my deceased mother. The IRS does not require it.

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Equipment: Burr grinder - Baratza Encore ($130) Kettle - Cuisinart electric kettle CPK-17 ($99) Brewer: Aeropress ($30) Use freshly ground beans. Starbucks uses medium to dark roasts. Even their blonde roasts are on the darker side. When you buy your beans, get light roasts. Lightly roasted beans r...

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Congratulations! I'm one of the oldsters that stated out entering my income from my fast food job on paper forms picked up at the post office or library. Good old Publications 17! Which still exists, but I miss that printed book of instructions and data. Turbo Tax downloaded to my computer works wel...

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Edit: Teen does have their own account, but wants "bank of dad" to cover the spread as it's my fault :shock: for the shortfall due to aggressive Roth contributing including unreported tip amount The first rule of taxes is that you are responsible for your own taxes, and don't get to blame...

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In my state, the Estate Sale companies have been back up and running for months. Check Estatesales.net and search your zip code to find companies conducting sales. My mom had been living in an Independent Living apartment at a CCRC when she died last summer. We would not have been able to have an es...

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People are careless and forgetful. If they have TOD beneficiaries on some but not all accounts, and forget to update them as life changes, then when they die their asset distribution might be very different from what they thought they planned. Some distribution will be determined by the will, others...

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As mentioned above, if you can take your retirement as a lump sum rather than an annuity, then you could leave the money to your son in an appropriate trust.

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Are there future gifts expected?

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Thank your FA for managing the money for you over the last few years. Since you weren't paying attention it's good that someone was. Now that you are willing to be more involved, you might want to change how the money is managed. Your FIL's advice on "index funds" is good as far as it goes...

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For families in NYC, it is reasonable to consider cost of private school as part of the housing cost. So you just have to decide whether the location is favorable enough to make it worth the cost of rent + private school. For some families it is, for others not. We live in a leafy midwestern suburb ...

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As mentioned by others, the confusion comes when looking at the refund/amount owed at filing rather than at the total tax burden and what kinds of taxes are owed - regular income, capital gains, NIIT, etc. Turbo Tax puts the refund/owed boxes at the top of the screen, but you have to dig into the fo...

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As soon as we get vaccinated. I don't enjoy flying, but do like visiting other places. Hope we can get to/from Canada by summer.

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How much would you harangue them if you noticed they were putting on weight? And how effective do you think your harangues would be? They've heard your plans and made their own. And may be wondering if they should warn you that your path is risky, and that you might want to consider meeting with the...

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Sounds a little awkward to me, especially for siblings. My siblings and I are close, but we've never given each other money, or given the nieces/nephews money except for Christmas/birthdays up to age 18. (And there are 2 orders of magnitude between richest/poorest sibling on each side of the family....

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When my sister-in-law found out my FIL's net worth, she started the campaign to get him to spend his money on her grandkids. He was a lifelong tightwad, which is why he had a fair amount of money. It really became a problem.

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When my mom, who had given all her kids cash gifts for Christmas for years, started worrying about how long past 90 she'd live and whether the money would last, I mentioned how much I had in Megacorp deferred accounts. She never sent me another cash gift, but did give me the Waterford. When she died...

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Hint that you might be carrying some debt, and might need a personal loan but aren't asking yet.

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Also consider social security, if it applies. I didn't dust off the linear algebra, but did make a few excel calculations, using 3 pensions and 2 social security payments. For example, if her SS payment is 3000/month, and yours would have been 1200/month on your own, but you get 3000 as half of hers...

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You know more about your life expectancy than your employer knows. If all of your parents and grandparents lived past 90, and you are in good health, you'd have a good chance to come out ahead with the pension/annuity. If heart disease runs in your family and you are being treated for cancer, a lump...

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Listing of the insurance property in Schedule A probably means little - what matters is what the insurance policy itself says. If ownership of the policy was never moved to the trust, and if the listed beneficiaries are people rather than the trust, then the trust doesn't come into play as regards t...

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When I stop working and drawing a paycheck I will need income. I won't have time to wait years for interest rates to come up (which could have a negative impact on my stock portfolio, but oh well). I have enough capital in my "growth" portfolio to acquire additional annuities at a later t...

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Contrast this with my brother who saw a fancy AUM financial planner. She ran a Monte Carlo simulation and I think he was dazzled by it. She doesn't like annuities and wants them to nibble away at their growth portfolio which doesn't have a real income component except for soc sec. I think the CFP h...

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Oh, Good! Maybe she can get Schwab to let us know when they plan to offer this option for mutual funds! See thread below. I was just ready to ease into the weekend now that the snow has been cleared from the streets, but reminding me of this got me all worked up again. https://www.bogleheads.org/for...

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Not making an old lady do something she doesn't want to do, when there are minimal consequences of not doing it, sounds like an advantage to me. In the College Confidential forum, parents are often reminded to "love the kid on the couch" - don't try to make that kid want to be something he...

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Has an estate representative been named by the probate court? Has anyone even applied? Not much can happen until that happens.

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Don't be too hard on Mom, it doesn't sound like a will would have done much good if it split the properties 3 ways. You still have siblings that don't get along, and they have to split the value of a property one of them is living in. It is the life situations that complicates this estate, not the l...

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The instructions say it can be claimed for someone who died in 2020. You and I didn't write the law, Congress did, and that's what they decided. Go with it, just like you go with all their other laws.

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As a high school graduation present for a distant relative, we electronically and automatically deposited a weekly sum into his checking account during his first semester of college. There were no conditions on these weekly deposits. However, we told him that if he ever makes Dean's List anytime wh...

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If you are looking at your refund/tax owed at filing instead of your total tax obligation and tax forms, then you are not understanding your tax liability at all. What is your tax bracket? What is your actual marginal rate? How are your capital gains and dividends taxed? You really need to start wit...

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You're fortunate to live in an area with helpful folks. Two months ago I broke down on a very busy six lane highway. No motorist stopped, but the state highway truck and a police car did. I appreciated that they took the time. My dad explained this to me in the 1970s, as he was changing a flat tire...

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This was on the IRS website. We'll probably follow the instructions and claim the payment on my mother's return. If we don't, somebody somewhere will probably notice our "error" and spend time and money correcting it. Will a deceased individual receive the payment? (added January 5, 2021) ...

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Check whether your state has tax credits for charitable contributions. Maybe Duck Duck Go "MyState tax credits charity" In my state, food pantries and some children's services charities can give state tax credits to people who make significant (~$1K+) donations. - you donate $1K, and can d...

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Asset allocation stays at 60/40. No emergency fund, I'm already retired. No sinking fund. No buckets. If we have a big expense, it comes out of the 60/40. If we are 61/39 it comes from equities. If we are 59/41 it comes from fixed income.

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DH could have a taxable account that is TOD/POD to nephew. Fund it with $10K today, and add to it or empty it later as needed.

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