Foolforfood, you're name is great, at least you know you're a fool. You are also very wrong. A solid will with all assets satisfied would avoid probate issues. I am more than qualified to discuss estates and trusts, this is the line of business I am in. If you want to claim to be an expert in estates and trusts, what qualifies you? Which licenses or assignments or designations do you hold? .....so who's the real fool here? Name one thing that I am purportedly very wrong about. It's pretty obnoxious that you resort to name calling when such important matters are being discussed.
Foolforfood - Sounds like you're an attorney or law student from what you wrote... Just out of curiousity, did you find any flaws in my explanations about probate? I'm always open to polite feedback.
Expat, I don't think you said anything wrong, however, what you said does not exactly apply to all states. I find that a lot of financial planners (and opportunistic attys) issue scare tactics to clients. They're always saying things, "You've got to avoid probate!! To do that, you need to buy my product!!!"The fact of the matter is, most states have very low probate fees. There's nothing wrong with going through probate. Most of the time, there is no discernable difference in regards to death tax liability - which is where the estate really gets hit. I think ppl think that avoiding probate means avoiding tax, which is certaintly not the case. I'm not saying that you're guilty of the same, I'm just saying that some of the language you used seem to be very skewed.For instance, insurance guys love to promote policies by telling clients that the proceeds avoid probate. Yes, in many states that is true. However, the proceeds will still be subject to death tax. HTH...I'm watching Top Chef right now so my thoughts are pretty jumbled
Can I have park place, boardwalk, and the red avenues? (indiana, Illinois, and the other one?) Andplusalso, do I get 200 dollars for passing go and reading this whole thing because it made my brain hurt and I still have no clue what any of you are talking about? I call HOTELS ON ORIENTAL!!!
Foolforfood - Thanks for the insight. You're right about insurance salesmen using probate as a scare tactic. Depending on the size of the estate and the state laws, insurance policies can be used effectively and ethically for many estate planning goals. Probate aviodance is only one of them. I would be weary of any planner whose sole reason for suggesting an insurance policy is to avoid probate... Fishy - I'm extremely impressed that you read through all of that!
Foolforfood, I am an opportunist and your sn was asking for it. Don't cry in your sleep over it. Really, you didn't have to summon me from another thread over that. Fishsticks will tell you, I have called people worse.
I'm not crying in my sleep. I'm still fully conscious. I don't care you yap about the best waterproof mascara, or how how pre-printed TY cards are rude. However, I do care when you come here and give incorrect, misguided advice to someone who clearly needs direction on an urgent matter and then purport to label me as the "fool". Seriously, name one incorrect thing that I said. I don't normally give professional advice on the internet, but your behavior really forced to me to set the record straight for the OP. Seriously, if you don't know what you're talking about in regards to technical issues, maybe you should refrain from it??
I did give her the right information, just not full disclosure. She seemed to want basic info, not full details and analysis of her situation. You are clearly bothered by my comment, which I truly am enjoying.
...But you didn't simply "basic info." You made incorrect, misleadng statemetns re: basic info. The issues you wrote about should be basic knowledge for CFPs. I'm not offended at all by the "fool" comment. I was sensitive to that stuff, why would I have this SN in the first place? I am offended that you still can't admit that YOUR statements were "very wrong" whereas MINE were pretty much on target. It's one thing for you to have a professional opinion, it's another thing for you to call out another professional and accuse of her dispensing "very wrong" advice. This is all moot though b/c you know that you're wrong, but you're just too stubborn and prideful to admit it. But you should think of the OP and how much you might have confused her.
The OP isn't confused, you are. You are the only one who cares about this that much. No, I wasn't wrong, you want to argue semantics. I get that, I am also argumentative but seriously, there is nothing to admit so just stop because you look sad.
Wow....you really think this back and forth is based on semantics? No...it's really about basic 101 issues you should have learned a long time ago. If I were you, I'd hone my skills before purporting to be the $9000 expert on this board. Remember, put the client first, and set your ego in the background.
Expat, I won't forget it, already emailed my assistant for the morning. The 9000 comment had nothing to do with estates or trusts. P2 made a condescending comment as a rebuttal to my comment about time is money and I have a call to take. I informed her of the commission from that call, 9800. I then asked her how long it would take her to make the same amount. Of course, to us, that is a simple commission but it took telling her that to understand the value of time vs money.
Expat, you're right, but the tone in her initial posts just irked me. BTW, I just looked through your bio and I felt like a kid in a candy store. Everything about your wedding was beautiful and lush!
Thanks! Your signature pic looks like it foreshadows even greater pics to come - have you made a bio? Try Weebly. If you're not good with websites, it's caveman easy...
Re: nwr: what happens with wills and estates?
Vacation with Alix, Andy, Mandy, and FLORENCE. AND HER MACHINE.
The Margarita Evolution
Featured Showing: Planning Bio-The Original
Coming Soon: Married Bio