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John Smith posted:Now, now. People in glasshouses shouldn't throw stones. John Smith not understand something simple, you don't say.
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May 31, 2017 16:56
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CitizenKain posted:John Smith not understand something simple, you don't say.
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May 31, 2017 17:06
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Beep boop
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May 31, 2017 17:21
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lol hey guy i don't understand any of this but why didn't he just do it like this??
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May 31, 2017 17:27
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Zo posted:i mean i can see somebody intervening if the guy was being physically violent Wrong thread?
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May 31, 2017 17:28
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I mean, isn't the point of a trust that the heir throwing a tantrum does *not* get it signed over to them? I have no idea of the legal structure involved but like, isn't being tantrum-proof is supposed to be what it's for? If I had a trust(we can all dream~) and all I had to do to gain control of the principal was throw a hissy fit, then frankly, I would. She didn't have to cut off the family or whatever - keep the legal matters legal.
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May 31, 2017 17:38
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The trust was not even 6 figures and the dad had been fighting her about it for over a year when he finally gave up on it. No rational person would subject themselves and their own family to all the drama involved in a lawsuit over a trust fund with a relative for like $90k. It could have probably been set up a different way with a professional in the first place, but I imagine the outcome would have been exactly the same except the girl would have pissed away half the money on legal fees instead of pissing away all of it on drugs and whatever. It just was never a big enough amount of money to have any other outcome.
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May 31, 2017 17:44
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Jeffrey of YOSPOS posted:I mean, isn't the point of a trust that the heir throwing a tantrum does *not* get it signed over to them? I have no idea of the legal structure involved but like, isn't being tantrum-proof is supposed to be what it's for? Yes and no, it depends on how the trust is written. If she was covered under something like a special needs trust, which is an actual thing, then it's not uncommon for the actual trustee to be a professional, with someone close to the family supervising them: http://www.specialneedsalliance.org/do-i-really-need-a-professional-trustee-for-my-special-needs-trust/ Even a trust which boils down to "if I die, use my trust to pay for my kid's education and give them whatever is left at some age when hopefully they are a grownup" is boilerplate for any estate planning attorney. I guess her uncle doesn't have to deal with her now that she's in prison, so win?  And there's no family drama since she's in lockup, so win again?
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May 31, 2017 17:46
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I think we're all underestimating how loving annoying it'd be living in a J.G. Wentworth commercial for a whole year. 365 days of this: Even the dead father would be like, "just let it go."
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May 31, 2017 18:05
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Krispy Kareem posted:I think we're all underestimating how loving annoying it'd be living in a J.G. Wentworth commercial for a whole year. 365 days of this: Which is why you get a professional trustee because their literal job is dealing with beneficiaries who want to liquidate the trust. Or just bill the trust yourself every time you have to deal with them because trustees get to pay themselves.
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May 31, 2017 18:12
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monster on a stick posted:Which is why you get a professional trustee because their literal job is dealing with beneficiaries who want to liquidate the trust. And when the trustee sues you I guess you can bill the trust for your legal costs? At some point, it's either costing you money to keep the status quo or protecting the trust is slowly draining it with fees. It sounds like the uncle was doing alright dealing with his niece's demands until she mentioned lawsuits. In retrospect, it should have totally been handled by professionals. But that wasn't the way it was set up.
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May 31, 2017 18:19
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Krispy Kareem posted:And when the trustee sues you I guess you can bill the trust for your legal costs? At some point, it's either costing you money to keep the status quo or protecting the trust is slowly draining it with fees. It sounds like the uncle was doing alright dealing with his niece's demands until she mentioned lawsuits. In general, yes, a trustee can bill the trust for legal fees, it depends on how the trust was written (and of course if a trustee was committing fraud, no judge would allow them to use it as a defense fund.) In this situation, pushing the trust administration off to a professional would probably have diffused the lawsuit entirely, since the court no longer sees "trustee uncle vs. beneficiary niece" but instead "licensed professional vs. whiny brat". Then the niece would have had to find a lawyer to take this case on contingency and good luck with that.
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May 31, 2017 18:35
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So, shall I take it as a heartfelt general feeling that CitizenKain is indeed full of poo poo? And that I was indeed right that the trust *can* be structured accordingly, albeit at significant but necessary expense.
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May 31, 2017 18:49
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John Smith posted:So, shall I take it as a heartfelt general feeling that CitizenKain is indeed full of poo poo? And that I was indeed right that the trust *can* be structured accordingly, albeit at significant but necessary expense. The general consensus in every thread I see you mentioned seems to be that you're a douche. I've always kind of wondered why but now I know!
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May 31, 2017 18:54
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Where's that drat bird... Edit: 
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May 31, 2017 19:00
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I have a feeling my parents/sister are about to be bad with money and want to run it by here since I can't say specifically how: My sister has a condo downtown in a major city. She got it when she started medical school, but instead of a normal mortgage, my dad used his HELOC to buy it. Purchase price was 330k, 300k from HELOC and 30k "down payment". It is an interest only loan with a low to mid 3.XX rate. He charged her "rent" equal to the interest payments. 5 years later, she is in residency in the same city and want to keep living in the condo. The entire 300k principle is still there, but the condo has appreciated to about 400k... maybe... based on Zillow. The area has gentrified a bit and there is a brand new whole foods half a block away, so maybe its true. The HELOC is ending (for some reason?) and they are discussing what they are going to do. I put forth that they should refinance into a regular mortgage under my sisters name. I get told this would be a waste of money and my dad wants to shop around to other banks and get a new loan, once again an interest only HELOC (again not sure why he needs to move it). He think she would save significantly in interest by doing a HELOC over a regular mortgage. Also with interest only her payments would be much less and that she should go for the cheaper option in the short term since she will be making significantly more money after residency. I know the assumption of higher future income burned a lot of people in 2008, but baring something crazy, its pretty sure at this point. I get the sense this whole thing is/was a terrible idea, but I don't have anything specific to back up it.
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May 31, 2017 19:10
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Is HELOC interest deductible like regular mortgage interest though? If her income jumps, that would help as her marginal rate will determine how much the deduction is worth.
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May 31, 2017 19:14
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Sounds like Dad wouldn't get to deduct the HELOC interest (that he's not actually paying himself and probably is not eligible to deduct) anymore so that could be why he's opposing it. Refinancing in the actual owner's name seems like a very obvious Good Decision to me if only for liability reasons. Your Dad is hosed if, for example, Sister has the deed to the property and decides to stop paying interest. E: no idea if HELOC rates are less than mortgage rates. Maybe you save on closing costs? antiga fucked around with this message at 19:33 on May 31, 2017 |
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May 31, 2017 19:29
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^^^ it's this. The overall scheme is really BWM quite honestly since if she and her parents together had just made 15 year mortgage payments together in the first place they would have $175k principal equity PLUS the good fortune of appreciation in the property by the end of 9 years of medical school and residency which is astoundingly GWM
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May 31, 2017 20:49
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My boss (makes approximately 104k per year) is currently complaining to her personal assistant (makes about 32k per year) that she is having a fight with her ex-husband (who she lives with to "stay together for the kid") about money. She bought her daughter American Girl Doll pajamas - these are pajamas for her doll - for $240 and her ex-husband won't pay for half of the cost and wants to get her something different from him. She is also fighting with him about cosigning for a personal loan for 20k to pay for the following for her daughter: - 1 hour of private tumbling instruction a week - Membership fee for a traveling tumbling/cheerleading team - Uniforms and time with a professional choreographer (these are apparently required as part of the team) - Travel expenses for the tumbling team - Multiple pairs (for backups) of some kind of special cheerleading/tumbling shoe that apparently costs several hundred dollars. Her daughter is 4-years old.
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May 31, 2017 21:11
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On which line does everyone else put tumbling/tumbling dues/tumbling shoes on their budget? Isn't becoming a professional cheerleader BWM, unless you marry an NFL player?
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May 31, 2017 21:16
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Technically those are a form of candle.
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May 31, 2017 21:21
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She's now complaining that she is very upset that the tumbling team, choreographer, and personal tumbling instructor all require cash or check and won't take a credit card. She wants her ex-husband to cosign the loan because she can't get a personal loan (even with 104k a year in income) because she has too much current debt. Told her personal assistant (32k per year) that you can't have kids and live on her (104k) salary. *HER DAUGHTER IS 4* Who is going to a traveling tumbling/cheerleading competition (the team goes to meets once a month all over the country and travel expenses are part of the dues upfront) to watch 4-year olds other than the parents of those 4-year olds and wealthy pedophiles?
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May 31, 2017 21:25
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Leon Trotsky 2012 posted:She's now complaining that she is very upset that the tumbling team, choreographer, and personal tumbling instructor all require cash or check and won't take a credit card. You gotta travel all over the country to find the teams. There's only so many marks in an area able and willing to spend $20k/year on competitive tumbling for 4 year olds.
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May 31, 2017 21:38
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Good Parmesan posted:On which line does everyone else put tumbling/tumbling dues/tumbling shoes on their budget? Isn't becoming a professional cheerleader BWM, unless you marry an NFL player? Yeah they get paid about $100 a game and nothing for practice, public appearances, calendars, etc., all of which are mandatory: http://abcnews.go.com/US/cheerleaders-sue-nfl-alleging-conspiracy-unfair-wages/story?id=45176620 The lawsuit's already been chucked out too: https://www.bna.com/nfl-cheerleaders-pay-n73014451636/
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May 31, 2017 22:07
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greazeball posted:Yeah they get paid about $100 a game and nothing for practice, public appearances, calendars, etc., all of which are mandatory: http://abcnews.go.com/US/cheerleaders-sue-nfl-alleging-conspiracy-unfair-wages/story?id=45176620 Also expressly forbidden from fraternizing with players so can't even get it on that sweet football wife gig. I didn't know the suit got thrown out...that's really lovely.
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May 31, 2017 22:13
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They need a union real bad.
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May 31, 2017 22:32
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paragon1 posted:They need a union real bad. They do, but even ignoring the general anti-union sentiment in this country, it's particularly hard to unionize workers who have short careers. We really need a nationwide marketing initiative for the "gently caress You, Pay Me" movement.
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May 31, 2017 23:03
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Bob Barker's Beauties on The Price Is Right have had more luck protecting their interests than NFL cheerleaders, but I suspect that many of them (the NFL cheerleaders) still do alright. Former Virginia Governor McDonnell is married to a former Redskins cheerleader. On topic: they were prosecuted in federal court for being BWM/ethics!
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May 31, 2017 23:19
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LLCoolJD posted:Bob Barker's Beauties on The Price Is Right have had more luck protecting their interests than NFL cheerleaders, but I suspect that many of them (the NFL cheerleaders) still do alright. Former Virginia Governor McDonnell is married to a former Redskins cheerleader. On topic: they were prosecuted in federal court for being BWM/ethics! Yeah pro cheerleading sort of functions as a weird finishing school for professional Babes. A lot of them go on to do spokesmodel stuff, kind of like beauty queens. A lot of overlap between those two groups probably.
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May 31, 2017 23:24
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That the most profitable sports league in the world can't find a small but respectable salary to pay its cheerleaders is just another symptom of the general societal disease that is the NFL. There is basically nobody the NFL owners will not actively gently caress over for money: players, local governments, and cheerleaders
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May 31, 2017 23:24
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BEHOLD: MY CAPE posted:That the most profitable sports league in the world can't find a small but respectable salary to pay its cheerleaders is just another symptom of the general societal disease that is the NFL. There is basically nobody the NFL owners will not actively gently caress over for money: players, local governments, and cheerleaders BWM: Not shelling out for the only known recording of the first instance of your marquee sporting event https://www.nytimes.com/2016/02/03/sports/football/super-bowl-i-recording-broadcast-nfl-troy-haupt.html
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May 31, 2017 23:26
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NFL cheerleading even crosses into MLM territory. IIRC they shoot promotional calendars and then force the cheerleaders themselves buy them from the team and re-sell them on their own. Shockingly, no one makes their money back.
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May 31, 2017 23:29
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Tiny Brontosaurus posted:BWM: Not shelling out for the only known recording of the first instance of your marquee sporting event It's actually exquisitely GWM because the recording is not honestly worth very much in terms of commercial broadcast income (i.e. the absolute only thing the NFL gives a gently caress about) and their threats to enforce their copyrights effectively prevent a third party collectors market from existing. They don't want to be extorted for film of their event and they don't want the owner to profit off its sale, either.
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May 31, 2017 23:44
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An Atlanta Falcons cheerleader worked at my old job and did a meet and greet right before the Super Bowl. She has the unfortunate name of Riley Reed. Cue multitudes of guys in the building Googling her name and getting redirected to a different lady in an industry that also takes advantage of its female talent.
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May 31, 2017 23:54
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BEHOLD: MY CAPE posted:It's actually exquisitely GWM because the recording is not honestly worth very much in terms of commercial broadcast income (i.e. the absolute only thing the NFL gives a gently caress about) and their threats to enforce their copyrights effectively prevent a third party collectors market from existing. They don't want to be extorted for film of their event and they don't want the owner to profit off its sale, either. Well it's BWHistory then 
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May 31, 2017 23:58
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Convicted Medicaid cheater now victim of Ponzi schemequote:A woman now in prison for Medicaid fraud used some of her ill-gotten gains to invest in a Ponzi scheme, according to court documents. Stealing from the feds? Investing in ponzi scheme? Million dollar federal fine? Is stealing from the feds BWM? I think stealing from the feds to invest in a ponzi scheme is definitely BWM. Would a fine of this nature be bankruptable? I can't imagine that it would be, and if it's not, that's lifetime garnishment.
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Jun 1, 2017 00:02
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BWM Bingo Alert: Family members involved in MLM scheme https://www.reddit.com/r/relationships/comments/6eeyhd/my_23f_familys_involvement_in_a_multilevel/ quote:Hi, Internet.
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Jun 1, 2017 00:24
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BEHOLD: MY CAPE posted:They don't want to be extorted for film of their event and they don't want the owner to profit off its sale, either. lol won't someone think of the poor multi-billion dollar corporation?
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Jun 1, 2017 00:33
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Weatherman posted:lol 
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Jun 1, 2017 00:44
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