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Financial Q&A

What an RLT Can Do And NOT Do

Posted by Keith on June 17, 2007 at 5:01 am | Leave a Comment


What type of trust should I set up to (a) let the children avoid probate, and (b) protect the house, bank accounts, personal property from legal actions now and after my death?

My husband listened to you every Sunday. I have a new appreciation for that! Thank you so much


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Real Estate Investing in Your IRA?

Posted by Keith on June 17, 2007 at 4:51 am | Leave a Comment


Several local radio shows/advertising hours tout the concept of self-directed IRAs aimed at real estate investment.
Is this a reasonable idea? I’m below 40 and have about 190K with my wife in retirement
accounts. I could look to put in roughly 10K next year is this enough to make it worthwhile?

I don’t want to have to do a lot of management. I want a few options and then I want to be able to let someone work on implementation. Are there firms you would recommend over others or keys to look for in considering various firms?

Thank you for your time.

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Divorce 101: Splitting IRAs

Posted by Keith on June 17, 2007 at 4:42 am | Leave a Comment


In a divorce how are the IRA’s dealt with? They are all in my name. My wife had no earned income. Do they have to be sold and then renamed. What is the best way to handle them with the least tax consequences?


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I would like to buy a Nordhavn and cruise inland up the Alaska coast.

I would also try to charter the ship to help with taxes, etc. I have real estate — vacant land — and wonder if I could do a tax-free 1031 exchange — the land for the boat. I would use the boat as my primary residence, and would also charter it.

I enjoy reading of your adventures and financial information. Thanks for your help.


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For medical reason I had to have my father’s house deeded over to me. I have talked to two accountants who have told me 1) I have my father’s tax base and 2) I have a new tax base. What say you mate.


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If someone with a revocable living trust dies, is it the attorney’s job to identify all the assets, or is that the job of the trustee?

Are beneficiaries of the estate always supposed to be notified in writing, and if so whose job is that – the trustee’s or the attorney’s?


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My wife and I received $550,000.00 from her father when he died 10 years ago. Since than we put the money in 5 year CD’s. The first 5 yr was paying 8.5% and the 2nd coming due this summer paying 6.5%. My wife is afraid to invest because this will be the only money we will ever have so if we lose any it will affect our income. Over the last 10 years we have earned around $50,000.00 including our Social Security income & her part time job. We both took early SS (I’m 64 & she’s 63) We have no other income and our house is paid for.

My concern is inflation!! What advice do you have for us. Thanks.


PS you’re taking this great trip without your family…How did you get away with it?

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401(k) to IRA Transfer Considerations

Posted by Keith on May 7, 2007 at 10:48 pm | 1 Comment

I’m planning to transfer my 401k into an IRA. Since I’m 60 years old I believe it’s a no-brainer. Is there anything I should be aware of or could be a problem? I have my wife as the primary beneficiary and my trust as contingent beneficiary. Is this the correct method?

Thanks for your help and enjoy your trip.


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Avoid Index Annuities

Posted by Keith on May 4, 2007 at 12:59 pm | 1 Comment


Our adviser has recommended that we invest in something called a market index annuity. He says we’ll receive the greater of two alternative returns: Either the growth in the S&P, just as if we had bought an S&P Index fund;, or five percent per year, whichever is greater.

Our adviser says a lot of people are investing in these annuities. It sounds almost too good to be true. What can you tell us about market index annuities?


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Should You Put Real Estate in a Trust or LLC?

Posted by Keith on April 24, 2007 at 3:40 pm | Leave a Comment


What are the advantages of putting personal real estate (first or second homes) into trusts or LLC’s other than limiting potential liability issues?



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