THANKS for all of the replies. I am now ready to get the Date OF Death appraisal, but I will let the trust that was written for my mom in 10/22 remain intact, as I likely have 88 more years before it terminates.
I do not know if I need to open a post in the banking category, but the reason...
Re: welkin and Tax Counsel,
I have my mom's trust in front of me. Page 3 states that "All trusts created by this instrument or by the exercise of any power of appoinment shall terminate within 90 years after its creation, pursuant to California Probate Code #21200-21231 and shall include any...
THANKS, adjusterjack and welkin for the answers and the links to the articles. 2 questions popped into my head as I read the articles.
1. The articles mentioned PROP 19 reassessment and ways to keep the low tax basis upon TRANSFER of real PROPERTY. IF I do not change the reg/title at the...
THANKS for all of the replies. Mr. zddoodah, THE REVOCABLE trust for the house was written as the 'MY MOM's NAME trust dated October 11, 2022' and the house registration was changed at the LA county reg/recorder's office to that effect on the next day. NOTHING else, such as bank accounts, is...
My mom owned a house as trustee with me as secondary trustee. She died in 2/24. THE house is 100% mine now.
1. DO I need to get a Date of Death appraisal? I do not plan to sell, but a local real estate agent who came by to chat, presumably to talk me into selling, said that the DATE of DEATH...
IF a brokerage acct allows me to buy numerous cds and get the FULL FDIC insurance, as you said, without having to fill out the endless paperwork repeatedly, then it really is attractive
--Tax counsel wrote, 'the SEC can't help with that.'--
THE Medallion program is not an SEC program and eSignature Guarantee is therefore not registered with the SEC. I understand.
The Consumer Financial Protection Bureau (CFPB) deals with consumer complaints, from what I have read and...
---Unfortunately no, for the reasons I explained above. The limit will still be $250,000 if you own the account and have just a single beneficiary---
OKAY, as I am the only owner, I guess that 1 owner x 250 k = 250k FDIC insurance and the presence of a Beneficiary is MOOT.
THANKS. YOU...
THANKS for your thorough answers. IF I understood everything that was presented, then I can
1. add my cousin as beneficiary in a POD account and get $500k FDIC insurance;
2. avoid worrying about my cousin having access to the money WHILE I AM ALIVE;
3. rest assured that I will not lose the...
I returned to the esignature guarantee site to search again for the contract, but I did not locate it. I found the document that I pasted below instead. THE document was not completed by me earlier, as I was not advised of its presence.
IF I complete the document, which includes disclosing...
--'POD doesn't confer any ownership rights while you are alive'--
GOOD NEWS! :) I (the cd account) would not be liable for any debts that my cousin, AS POD, incurred, and I would not have to worry about the money being garnished as a result of any judgment against my cousin.
SHE--my...
The transaction was online. I do not have a copy of the contract and I do not see it under my account on the website.
THE contract, to my recollection, focused on what the site would do and what my responsibility was. I, for $149, would upload the docs and the company would give a medallion...
My dad and I had a checking acct and a cd acct in joint tenancy at a bank. HE died. I had no problem getting the money and having his name removed.
I want to open a new CD and checking acct, but I have no spouse or kids. I have no will, so If I open the accts in my name only and I die, the...
Mr 'T,' YOUR words about paying the $150 to complete the transaction, limit my losses, and get the shares in my name, makes great sense, but I admit that I resent having to pay the money; however, if I am responsible for the failure of the paper shares to be transferred because I listened to the...
I contracted with e signature guarantee via signing documents and paying a fee of almost $150 to obtain a medallion signature guarantee stamp to 147 direct registered shares AND 147 paper shares that I held of the same company. E signature would then forward by courier the medallion guarantee to...