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GoGoGadgetChris posted:Parents divorcing and remarrying late in life is always a mess.
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Apr 16, 2018 20:37
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Rotten Red Rod posted:Well inevitably it's going to end with the house being sold, whether it's now or later. The sister can't pay for it, the 2nd wife is literally allowed to legally squat there, and they can't afford to on their own. They'd tend up ahead by quitclaiming their share of the house to the sister the second they get it. It's really a question if they want to continue their good finances or destroy them for a lost cause. No the best course of action for them financially speaking is to pocket the money they supposedly are going to receive, and refuse to make payments on the mortgage on behalf of the trust, which will eventually force foreclosure or a voluntary sale. Otherwise they basically are forced to let the second wife freeload on their property for life. The only way they can twist her arm is to let the house get foreclosed on. The only way they can prevent the house from getting foreclosed on is to negotiate payments with the second wife who apparently has no money and no ability or desire to work.
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Apr 16, 2018 20:39
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Phanatic posted:
Okay, so the finance options are ridiculous (and likely built into the web site template for all cars they are selling), but that's legitimately a $120,000 car as it sits and I'm sure they'd let it go for that without too much negotiation. Are you confused that there are used cars that are worth that much money or that there are people who make enough money to where this is a reasonable expense for them? Or confused that this is a GT4 which is not at all in the same price range as a regular Cayman?
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Apr 16, 2018 20:40
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We're currently dealing with the estate of my fiancee's mom, who died completely unexpectedly. Her father is in terrible shape health wise. Their will was last updated in the mid 80s.
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Apr 16, 2018 20:42
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Motronic posted:Okay, so the finance options are ridiculous (and likely built into the web site template for all cars they are selling), but that's legitimately a $120,000 car as it sits and I'm sure they'd let it go for that without too much negotiation. High performance automobiles are a pure luxury. Nothing aboit thirteen is necessary nor do they serve a function other than pleasure. They are really loving awesome too, which is why rich people sometimes buy them. That is fine if you can afford it, but if you have to finance a luxury like that then you can't afford it. See also boats and racehorses.
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Apr 16, 2018 20:47
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Randler posted:Probably a wise decision. May I interest you tales of Germany's investment taxation regime where you have to pay taxes on purely theoretical dividends even if you invest in funds that do not pay dividends? Can you elaborate? Germany doesn't seem to have a wealth tax. Are you required to pay taxes on capital gains before you take distributions?
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Apr 16, 2018 20:47
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Phanatic posted:
I figure that's about 6.5% interest, which kind of sucks for a car loan. Certainly you could do worse then financing a limited production collector Porsche but probably shouldn't do it for 12 years at 6.5% interest
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Apr 16, 2018 20:50
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BEHOLD: MY CAPE posted:No the best course of action for them financially speaking is to pocket the money they supposedly are going to receive, and refuse to make payments on the mortgage on behalf of the trust, which will eventually force foreclosure or a voluntary sale. Otherwise they basically are forced to let the second wife freeload on their property for life. The only way they can twist her arm is to let the house get foreclosed on. The only way they can prevent the house from getting foreclosed on is to negotiate payments with the second wife who apparently has no money and no ability or desire to work. Oh yeah for sure, I said they'd end up ahead by quitclaiming, as in ahead of if they tried to play nice everyone and pay the mortgage themselves. What you're suggesting would probably be the best course financially but would be some insane family drama that is not remotely worth the (nonexistant) money, IMHO.
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Apr 16, 2018 20:50
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Motronic posted:Okay, so the finance options are ridiculous (and likely built into the web site template for all cars they are selling), but that's legitimately a $120,000 car as it sits and I'm sure they'd let it go for that without too much negotiation. It's legitimately about a $100,000 car, $104,000 is entirely reasonable. A 12-year car loan is insanely BWM.
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Apr 16, 2018 20:51
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therobit posted:High performance automobiles are a pure luxury. Nothing aboit thirteen is necessary nor do they serve a function other than pleasure. They are really loving awesome too, which is why rich people sometimes buy them. In my opinion given current auto loan rates (for example I have loans on my cars at 1.9% and 2.7%) it is silly not to finance unless you just have piles of cash sitting in bank accounts you can't figure out any other way to deploy usefully
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Apr 16, 2018 20:54
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Rotten Red Rod posted:Oh yeah for sure, I said they'd end up ahead by quitclaiming, as in ahead of if they tried to play nice everyone and pay the mortgage themselves. What you're suggesting would probably be the best course financially but would be some insane family drama that is not remotely worth the (nonexistant) money, IMHO. They can't quitclaim anything; the deed is held by a trust, what they are essentially forcing the children to do is refinance and pay for a mortgage on a property that they do not own, which is held in trust and which apparently includes a life estate for this second wife, who could live for decades. If they do nothing what will presumably happen is the mortgage will go into default, or perhaps the wife who doesn't want to work will sack up and get a job. Or perhaps the estate has other assets that might really go towards this and save the day. if they agree to this bogus refinancing deal they are going to have a millstone around their next until the mortgage is paid off, all for the benefit of the second wife.
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Apr 16, 2018 20:57
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This feels like an appropriate place to dump this. https://www.youtube.com/watch?v=M_3T-Af57Pg Edit: poo poo there's even more. These are wonderful. https://www.youtube.com/watch?v=j2AvU2cfXRk Hoodwinker fucked around with this message at 21:06 on Apr 16, 2018 |
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Apr 16, 2018 21:03
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AreWeDrunkYet posted:Can you elaborate? Germany doesn't seem to have a wealth tax. Are you required to pay taxes on capital gains before you take distributions? German income tax for private citizens generally works on a cash basis, i.e. you only have to pay taxes on income you have actually received in cash (As opposed to businesses, which already have to pay taxes once they recognise a receivable in their balance sheet). Accordingly, under previous German tax law, you only had to pay taxes on dividends once those dividends were paid out and on capital gains once you dispose of your investment. N.B. German tax terminology refers to both "dividends" and "capital gains" as Kapitalerträge (literally "capital gain") and there is no beneficial tax regime for long-term capital gains. As functionally capital gains and dividends both reflect stock appreciating in value, it was decided that you only having to pay taxes on capital gains upon disposal was not fair. So nowadays you have to pay income tax on your stock regardless of whether it pays out dividends or not. If a stock does not pay dividends, the tax base is calculated as follows. Each year a calculatory interest rate is determined that is supposed to reflect the general trend of the market. Based on this calculated interest rate, you pay taxes as if your stock payed out a dividend in the corresponding amount. If, many years later, you dispose of the stock, the taxes you paid on those virtual dividends in the past are offset against the taxes you would pay upon disposal (You get a refund if you make a loss upon disposal).
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Apr 16, 2018 21:11
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How many years have they been doing this because that sounds like some truly hellacious record-keeping to keep track of, even worse than some of the silly nonsense with American tax-advantaged accounts that you end up requiring you to keep documents for 30 or 40 years
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Apr 16, 2018 21:16
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BEHOLD: MY CAPE posted:They can't quitclaim anything; the deed is held by a trust, what they are essentially forcing the children to do is refinance and pay for a mortgage on a property that they do not own, which is held in trust and which apparently includes a life estate for this second wife, who could live for decades. If they do nothing what will presumably happen is the mortgage will go into default, or perhaps the wife who doesn't want to work will sack up and get a job. Or perhaps the estate has other assets that might really go towards this and save the day. if they agree to this bogus refinancing deal they are going to have a millstone around their next until the mortgage is paid off, all for the benefit of the second wife. I'm following the reddit thread and the guy updated, he seems to be under the impression they have the ability to sell. Also he sheds some light on why the situation happened in the first place: quote:No other assets left. FIL worked with some sort of estate attorney to make all these plans. Estate attorney advised FIL to "die broke" to avoid any debts going to 2nd wife or his two daughters. So he used his IRA for medical costs, sold other investments for day to day expense since he had to stop working at his retirement job (he captains leisure craft that need transport up and down coast - cushy retirement job that pays under the table). He put the house in a trust so it's no longer an asset of his that anyone could go after. He apparently lost $50k in a bad investment scam and is still paying that debt off too.
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Apr 16, 2018 21:22
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Phanatic posted:It's legitimately about a $100,000 car, $104,000 is entirely reasonable. A 12-year car loan is insanely BWM. Way to clip out the part where I said "the finance options are ridiculous (and likely built into the web site template for all cars they are selling)". I'm not sure arguing the price of high end sports cars is particularly useful here. BEHOLD: MY CAPE posted:In my opinion given current auto loan rates (for example I have loans on my cars at 1.9% and 2.7%) it is silly not to finance unless you just have piles of cash sitting in bank accounts you can't figure out any other way to deploy usefully Agreed. When you have the money to pay for things in cash you get rates like this. It's the definition of how you need to have money to get a leg up. If you don't take advantage of this kind of thing by leaving that cash invested and making 7%+ on it you're pretty foolish. Or perhaps your cash piles are so large that's just not money on a scale you care to bother with.
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Apr 16, 2018 21:36
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Motronic posted:Way to clip out the part where I said "the finance options are ridiculous (and likely built into the web site template for all cars they are selling)". I'm not sure arguing the price of high end sports cars is particularly useful here. It seemed pretty obvious to me why someone would post a 12 year loan on a car in this thread. Why are you getting weird about it?
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Apr 16, 2018 22:13
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Car people are weird man. I respect everyone's right to blow their cash however they want but they like cars sooo much. You can't just like them a little bit. It goes: 1) Gun people 2) Car people 3) Horse people, Cheer people (tie)
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Apr 16, 2018 22:22
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Actual #1, people that belong to a crossfit-style gym
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Apr 16, 2018 22:27
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Oh poo poo you're right. I'm one of them, so I guess that's my blind spot.
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Apr 16, 2018 22:38
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potatoducks posted:Car people are weird man. I respect everyone's right to blow their cash however they want but they like cars sooo much. You can't just like them a little bit. It goes: Funny thing is that generally the BWM scale goes in reverse of that. Horses are more expensive than cars which are (usually) more expensive than guns. E: vapers joke goes here. Also vegans.
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Apr 16, 2018 22:40
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Yeah you're right but there aren't any single issue car voters or horse voters. Whereas that's the default for gun people. So they get first place crazy.
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Apr 16, 2018 22:44
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potatoducks posted:Oh poo poo you're right. I'm one of them, so I guess that's my blind spot. Off topic - it's weird how... asexual those gyms are. Bunch of super fit people that get their sweat on together and do tons of booze-related socializing, but it's borderline incestuous for them to hook up On topic - these gyms can cost like $200 to $600 a month! gently caress!
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Apr 16, 2018 22:48
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Do I recognize you from the Mass Shooting thread? I really don’t understand that being a cause for single issue voting, though. Even with how batshit some anti-gun opinions voiced on here (and elsewhere) have been, and even with how strongly I feel on the topic, it was never single issue for me. I don’t think it is for most of TFR, but TFR is unusual. Specialty gyms are all super expensive, it’s frustrating.
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Apr 16, 2018 22:49
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potatoducks posted:Yeah you're right but there aren't any single issue car voters or horse voters. Whereas that's the default for gun people. So they get first place crazy. They don't get the same amount of press, but there are totally single-issue horse voters. They flood Congress with letters and phone calls every time someone tries to do something about the massive overpopulation of wild horses (and the BLM has to spend tens of millions of dollars every year on population management).
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Apr 16, 2018 22:55
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Yond Cassius posted:They don't get the same amount of press, but there are totally single-issue horse voters. They flood Congress with letters and phone calls every time someone tries to do something about the massive overpopulation of wild horses (and the BLM has to spend tens of millions of dollars every year on population management).
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Apr 16, 2018 22:57
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There are a lot of hobbies that can be done cheaply, but can get really, really expensive for enthusiasts because there's no upper limit. Golf, guns, crochet, video games, youth sports. Then there are those special hobbies that are very difficult to do cheaply and the default state for them is Really Expensive. Sailing, horses, aircraft, race cars.
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Apr 16, 2018 22:57
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Sailing can be cheap. I've been to two clubs where it costs $20 to rent a 420 or laser for a few hours.
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Apr 16, 2018 23:00
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Hoodwinker posted:Wait, wait, wait. Hold the loving phone. Are you saying there's so many horses out there I could go out there and catch my own horse? I’ve caught every horse I’ve ever seen!
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Apr 16, 2018 23:02
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potatoducks posted:Yeah you're right but there aren't any single issue car voters or horse voters. Whereas that's the default for gun people. So they get first place crazy.  their tax dollars on public transit, or focusing on making roads more efficient(read: generally narrower and with off-street parking) instead of blindly building more and bigger roads and giant parking lots everywhere, or higher gas taxes, or bike infrastructure, or...
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Apr 16, 2018 23:06
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Hoodwinker posted:Wait, wait, wait. Hold the loving phone. Are you saying there's so many horses out there I could go out there and catch my own horse? Very nearly. The BLM runs an adoption program, with a minimum adoption fee of $125. There are so many horses available that bids rarely go for more than a few hundred dollars. National Geographic had a good series about the issue a while back.
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Apr 16, 2018 23:13
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GoGoGadgetChris posted:Off topic - it's weird how... asexual those gyms are. Bunch of super fit people that get their sweat on together and do tons of booze-related socializing, but it's borderline incestuous for them to hook up That's not the impression that I get. Hookups happen as they do in any other group with a shared interest. It's a common story for two people to start dating and break up, and then one person has to join a new gym. 22 Eargesplitten posted:Do I recognize you from the Mass Shooting thread? Nah, never posted there and not "anti-gun".
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Apr 16, 2018 23:16
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I think he was talking about me. I get paid to appear in the aftermath of most mass shootings, yes. Usually interviewed in the news but sometimes as one of the victims or victims' relatives
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Apr 16, 2018 23:17
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Ah, okay. Sorry, didn’t mean to sound aggressive. There were a lot of people posting in there, must have confused your name with someone else. No, talking about Potatoducks, just typed too slow without quoting.
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Apr 16, 2018 23:18
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I invested my entire fortune into these and then stacked them in the ocean to shelter my assets.
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Apr 16, 2018 23:45
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Now that's what I call being underwater on your car loan!!
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Apr 16, 2018 23:46
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Senor Dog posted:It seemed pretty obvious to me why someone would post a 12 year loan on a car in this thread. Why are you getting weird about it? I'm not trying to be weird about it, I think that autogenerated finance prices on an autodealer web sites is like......not really decent content, so I was confused as to whether that was what the "joke" or the price of the car or what........ This is nearly at the level of "I heard someone say horse today". None of the car BWM typicals are buying or financing cars like this. They are going for 100% of their $32k/yr salaries on WRXes or 100% of their $55k/yr salaries on a 5 series. Hoodwinker posted:Wait, wait, wait. Hold the loving phone. Are you saying there's so many horses out there I could go out there and catch my own horse? Yes, but to do so legally costs a lot of money. I facilitated this at my farm in NC years ago. JFC there were a lot of requirements and a lot of infrastructure required. It is totally BWM, but totally GWM for me at the time as the person providing services. (and both of them were good goddamn horses that just needed some lovin........but I'm not BWM or rich enough to take that on myself) Motronic fucked around with this message at 01:54 on Apr 17, 2018 |
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Apr 17, 2018 01:50
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Who among us doesn't have a little experience picking up a stallion from the BLM?!
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Apr 17, 2018 01:53
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an actual dog posted:I love the $10,000 for miscellaneous. "Something always comes up!" And I'm out 10 grand. I love the 'effective 40% tax rate' as if they can't afford a CPA. 22 Eargesplitten posted:Funny thing is that generally the BWM scale goes in reverse of that. Horses are more expensive than cars which are (usually) more expensive than guns. Guns are also slightly GWM in that you can usually sell them for most of what you paid for them. More if they've become more desirable since you bought them. Liquid Communism fucked around with this message at 03:24 on Apr 17, 2018 |
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Apr 17, 2018 02:04
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ehh for some fancy decorative firearms*, good quality hunting rifles, or rare collector pieces maybe. But I don't believe for a second that poo poo-ugly AR-15s sell anywhere near cost once they're festooned with idiot paint jobs and engravings. *ie: pistols made out of a meteorite  The most important thing today is to find the next bitcoin or Canopy weed stock of tomorrow! posted:For our generation and future generations that we will teach. What resources do you use to find leads?
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Apr 17, 2018 03:37
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