[XBoxBoy]

I’m no expert on this, but have been down the route of hiring a lawyer, creating a trust etc.  From my experience a trust is only a part of the of package. More important is the will and a power of attorney/medical directive. The will is what makes it so you can avoid probate and the medical directive is what makes sure if you become unable to care for yourself your wishes are known and who decides for you. Depending on the value of your estate, a trust might be needed or might not. The will and medical directive are always good to have.

So just to emphasis: Make sure you get the will and medical directive, not just the trust.

A couple small suggestions:

1) Think about the name of the trust.  Attorney’s like to pick names like: “Johanna and Bethany Smith Revocable Family Trust of 2024”.  The problem with that is the name is long and it publicly identifies you. If you place assets in the trust the deed or stock accounts will have that for the name. If you name is long enough, it actually becomes too long to fit into the forms you will be filling out. Real estate in your trust will now have your name on the public records. (Which maybe is okay, maybe not, depending on how much you value your privacy.) Maybe a little thing, but boy I wish we had named our trust something simple like “The Big Dog Trust”.

Try to keep your trust simple.  How to disperse assets should be in one section. Then if you want to amend your trust amendments are simple.

 

[XBoxBoy]

JPJones – Why shouldn’t unemployment be low? It seems to me that what has been going on over the last decade is a steady drum beat of how horrible things are. The news makes more money by printing stories about how bad things are then about good things. Last consumer sentiment was terrible.  But things aren’t terrible. People just listen to what they’ve been told, and they’ve been told the world is heading for disaster. The economy is doing very nicely. People are working and spending. Yeah, fed rate is up to 5%.  That’s not a huge deal, it only seems so because we got used to ZIRP. There’s some inflation but hey this ain’t Zimbabwe. The stock market has been in the doldrums for a while now, but so what. Maybe we do get a recession in the near future, maybe not. But you should stop listening to whomever is convincing you that things are bad and collapse is just around the corner.

[XBoxBoy]

Did you talk to your doctor about this? Reading online, and from what I’ve heard in the past, you should only water fast for 2-3 days. Longer than that can cause medical issues. (Although I can’t tell you what issues…)

[XBoxBoy]

Meh… Unlike Rich’s posts, I’m not seeing any real data in this article. Some interesting narratives, but nothing more. Really just this guy speculating on what might happen.

Your mileage may vary.

[XBoxBoy]

[quote=Coronita][quote=XBoxBoy]I’m going to guess that this will be too expensive for our cheapskate Scaredy, but what about the Rivian SUV:

https://rivian.com/r1s%5B/quote%5D

I heard the space and reliability isn’t that great.[/quote]

Meh, the jealous ramblings of Tesla owners who now regret funding Musk’s take over of Twitter.

[XBoxBoy]

I’m going to guess that this will be too expensive for our cheapskate Scaredy, but what about the Rivian SUV:

https://rivian.com/r1s

[XBoxBoy]

[quote=svelte]How in the world did he convince some of the biggest institutions in the world to give him millions of dollars? It boggles my mind.[/quote]

I have seen way too many cases of people convincing investors to give them money to build companies that are obviously just scams. The founders pay themselves a fat salary all the while knowing the company will be never work out. It’s just amazing how common this is.

Just like we watched netflix shows about Theranos this last year, I bet in another year or two we are watching a documentary about FTX and Bankman-Fried.

[XBoxBoy]

[quote=scaredyclassic][quote=sdrealtor]His candidacy was covered minimally. All his big donors have come out against him. The death spiral into irrelevancy begins[/quote]

disagree. his diehard base splits the republican party. He is absolutely relevant.[/quote]

From a strategy point of view, the Republicans are in a tough spot. If they stick with trump, can he win? That doesn’t look so likely. If they try to toss him to the side, will he go quietly? I doubt it. Instead he rips into any potential challenger. Calling DeSantis DeSanctimonious is just the start. That could split the party right in half. And a split party isn’t a recipe for winning elections.

Seems to me that everyone who has gotten in bed with trump regrets it in the end. I don’t see why that would change now.

[XBoxBoy]

This thread continues to be the most interesting thing on piggington in a long while. Thanks for keeping it going!

[XBoxBoy]

I can’t help but wonder why Smithfield has pursued this case. I can understand that they are unhappy about people breaking onto a farm and stealing a couple of little piglets, but they are generating a lot of press for the animal rights people, which ultimately isn’t good for their product or brand. Have the execs at Smithfield thought this through, or they just reacting with a high and mighty attitude of “Punish them, Off with their heads!”

It would sure seem to me that just dropping charges would be a better route for Smithfield.

[XBoxBoy]

The more I read about this whole scandal the more I hope someone writes a book or makes a good movie about it.

[XBoxBoy]

[quote=gzz]The willingness of young people to get overpriced college degrees is going down, and soon so is the number of young people period.[/quote]

Is that true? The number of young (college age) people in the USA is probably dropping, but what about world wide? And since people in other countries can get visas to come for college reasonably easily, I think you need to consider world wide. Plus, as fewer people live in abject poverty, even if there is a decline in college age people there could be a rise in people wanting to go to college. I suspect your claim isn’t as simple as it sounds.

[XBoxBoy]

[quote=an]Seems like the next smart person who runs for president should say they’ll forgive another $10k in student loan AND $20k in mortgage AND $20k in car loan. That should get the majority to vote for you.[/quote]

One of the big questions I’ve been wondering is just how effective this hand out will be to get votes. Probably a lot of the people who will benefit from this will vote democratic already. Is this handout an effective way to get people to vote? I have my doubts. If nothing else, Trump showed me how effective anger and rage are at getting people to show up at the polls and to vote. I’m not so sure people bother to show up after they’ve gotten the handout.

[XBoxBoy]

[quote=sdrealtor]Been real busy with stuff so not sure if I’ll get to update this week. [/quote]

Understandable, but hopefully you will manage to update. As much as I’ve enjoyed a lot of the other discussions on Piggington, for me, this thread has become one of the most interesting. It helps me to understand what is going on if only in a very limited location. (Three zip codes) And as a bonus, it is timely, not a month or three months behind. So, hopefully you’ll provide this real estate trend junkie his weekly fix.

[XBoxBoy]

[quote=scaredyclassic]There’s a really awful song from the 60s that sticks in my head, I heard it as a child. I think my parents may have taken me to a pete seeger concert…

somng’s called Little boxes…about real estate, conformity and general crappiness of society. it’s just an awful song, such an arrogant, elitist monstrosity of a song. Should have a parental advisory warning sticker on it.
[/quote]

This was used as the theme song of the show “Weeds”! Loved the show, but yeah, the song is kinda arrogant.

[Author]

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