Go to Jeff Salisbury LWGate Home Page.From: persfin-digest <owner-persfin-digest@shore.net>
Subject: persfin-digest V4 #25
Date: Sat, 19 Apr 1997 13:02:04 -0400 (EDT)
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persfin-digest Saturday, April 19 1997 Volume 04 : Number 025
IN THIS ISSUE:
ADVERTISEMENT: MCI FAX REPLY SERVICE [Oppenheimer Software <Connect-Sale]
Re: Medicare and Blue Cross Question [Avrum Lapin <avrum113@cyberg8t.com>]
Re: Does A Husband Have a Legal Claim on His Wife's Pension in a [Avrum]
Re: Small Claims Court Help Needed [Jules Vallay <jvallay@wilcom.com>]
Annuity Payout Question [Jackie Monk <jmonk@umich.edu>]
Re: Quicken and Spinoffs [David Chaille <davec2@ptconnect.infi.net>]
Re: How to Handle Mortgage Refinancing in Quicken [David Chaille <davec2]
Pure water retail store cost? ["Anh Tran" <Anh.Tran@Forsythe.Stanf]
Re: Legal Claim on His Wife's Pension (in Colorado) [Jeff Morgan <morgajs]
McDonalds DRIP is a Raw Deal [vemuri@informix.com (Sudhakar Vemuri)]
Re: MCD DRIP / Auditing Mortgage Lender's Interest Charges (Waste [Mirin]
Re: Pros And Cons of Holding Gold/Phone Cards/Car Rental in France [Harry]
Re: Calling card - Try National TeleService [wwoody@juno.com (William C W]
Inheritance is not a martial asset in case of divorce [BOB FORD <BOB_FORD]
Re: Medicare and Blue Cross [BOB FORD <BOB_FORD@compuserve.com>]
Re: Checking on Mortgage lenders interest charges [BOB FORD <BOB_FORD@com]
Are Wills Ever Read? [BOB FORD <BOB_FORD@compuserve.com>]
Re: Calling Cards ["David J. Churchill" <churchilld@worldnet.att.net>]
Calling Cards - Another Suggestion [Scott Johnston <JOHNSTOS@gunet.george]
McDirect Stock Program [Nick Lebredo <NLebredo@exchange.ureg.ohio-state.]
Re: McDonald's DRIP - check out www.netstockdirect.com [Barry Basden <bb]
Credit Counseling Experience? CCCS? [SMorris443@aol.com]
Maximum Amount of Social Security for Married Couple? [BERT HORWITZ <BG48]
Re: Setting Inheritance Question Straight [mantin@ix.netcom.com]
Pay off Credit Card or Keep Savings Intact? [The Joneses <ajjones@io.com>]
tax withholding question [vemuri@informix.com (Sudhakar Vemuri)]
Re: Phone calls away from home [eric <73354.3477@CompuServe.COM>]
Great return on CD's, is it??? [Scribler <scribler@erols.com>]
re: historical quotes [Ken Stone <kstone@pantheon.YALE.EDU>]
Re: First Trust Deed - On The Level? [padre4@juno.com (John Whitley)]
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Date: Sat, 19 Apr 1997 12:17:27 -0400 (EDT)
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------------------------------
Date: Sat, 19 Apr 1997 12:20:05 -0400 (EDT)
From: Avrum Lapin <avrum113@cyberg8t.com>
Subject: Re: Medicare and Blue Cross Question
> I'm getting close to needing to decide about Medicare- partA,B and sup.
>Anyone had any experience with Blue Cross HMO? Will appreciate feedback,
>good or bad experiences.
Most af my Medicare friends are in HMOs and are generally satisfied
(Note that many have been in Kaiser plans since there was a Kaiser plan).
In our area all of the Medicare HMOS provide $2-3000 worth of presciptions
with minimum co-pay, many provide limited chiropatic and dental care.
These are the following issues to consider beforetaking an HMO.
Does your present primary care physician contract (either directly
or though a group) with the HMO that you are considering.
If you are under the care of a specialist for some existing
disease, is that specialist on the referral list of the physician's group.
What is the attitude of your physician to the HMO - mine seemed
reasonable acceptable about it.
Finally what are your medicare aged friends attitudes to their
HMOS. The same HMO may vary considerably from area to area.
Avrum Lapin
Upland., CA
(Editor's Comment - Kaiser Permanente just settled with the State of Texas
over several wrongful death suits related to Kaiser refusing to cover
emergency room care and other treatments. Any Web site that rates HMOs?
- -IK)
------------------------------
Date: Sat, 19 Apr 1997 12:20:44 -0400 (EDT)
From: Avrum Lapin <avrum113@cyberg8t.com>
Subject: Re: Does A Husband Have a Legal Claim on His Wife's Pension in a
Divorce?
Sender: owner-persfin-mod@shore.net
Precedence: bulk
One can evaluate a 401k asset fairly easily at the time of a divorce.
There are standard actuarial calculations to determine the value of a
defined benefit pension at any age. It becomes more complicated in a
defined contribution pension.
Settling a cash equivalent is often done - the wife may take the house and
the husband keeps the 401k plan etc but this depends on the relative value
of each and the degree of bitterness of the divorcing partners. This is
the time where if one party has a barracuda lawyer then the other one needs
a phirana.
It is very important that once a settlement is arrived at that it be cast
in brass with no opportunity for recourse. I am aware of a former
co-worker who was divorced about 15 yrs ago and now that he has retired the
employer advised the ex of his 401k plan etc and she is going back to court
Not a lawyer, this comment is just that
Avrum Lapin
Upland., CA
------------------------------
Date: Sat, 19 Apr 1997 12:22:11 -0400 (EDT)
From: Jules Vallay <jvallay@wilcom.com>
Subject: Re: Small Claims Court Help Needed
(Jackie Richardson asked about taking her roofing contractor to small
claims court.)
REPLY (this is not legal advice, just my humble opinion)
Having watched People's Court on occasion myself, the biggest
problem with claimants is that they typically come ill prepared,
especially as to the issue of proof of damages, so it is great that
you are asking this question beforehand.
I think there are several things you will need to consider before
proceeding. Before availing yourself of the Small Claims Court,
you must determine the extent of your damages. Generally,
Small Claims Court has a jurisdiction threshold of say, up to
$2,000 to maybe as much as $5,000, and any claim for more
may have to be heard by a higher Court. So, you need to assess
your total damages and this should be done by getting at least
two itemized estimates for the repair work. This would include
the cost of removal, replacement and fixing the damage that
proximately resulted from the work. It would also be helpful if you
have the actual itemized bill or invoice, receipted or marked paid
by the contractor.
You say that the contractor orally "guaranteed" that the roof would
not leak. Orally is okay so long as you can prove it. Perhaps this
oral guarantee can be evidenced by some statement on the bill,
or the written estimate, if you got one. Did he guarantee his
workmanship, the material, or both? If the material was faulty,
you may have a claim against the manufacturer of the material.
However, it is possible that the manufacturer has no obligation
to you if the contractor was not a manufacturer certified installer,
or if the material installed was not faulty but rather the damage
resulted from faulty workmanship. If the workmanship was
faulty, which would include using the wrong kind of material
based on the slope of your roof or improper installation, then you
may have an action for negligence and breach of contract
against the contractor.
So, first determine your damages. Then find out the procedural
rules of your respective small claims court including dollar
jurisdiction (threshold) and service of process ( how to serve the
defendant(s) with court papers), and decide if you can make a
claim against the contractor and the roofing material
manufacturer. It is best to make the claim against both parties if
you are not sure who is at fault in order to cover your bases. If
the contractor squeaks out of responsibility then it is best to have
the wrongdoer already named in the claim so you don't have to
start the whole process over again.
Keep in mind your time. The installation was done last August
and the terms of the manufacturer's warranty may be limiting in
some way, such as having a time limit to how long you have to
file a claim after the installation, or after the faulty condition was
discovered, or maybe your state law limits your time to file a
claim against the contractor. In other words, don't delay on
pursuing this matter if you are intent on getting it resolved in
court.
And don't forget to assess your prospective court costs including
filing fees, service of process fees and time, against the cost of
repair. You may find your Court costs won't justify moving
forward the Court route.
Good luck,
Jules Vallay.
------------------------------
Date: Sat, 19 Apr 1997 12:24:10 -0400 (EDT)
From: Jackie Monk <jmonk@umich.edu>
Subject: Annuity Payout Question
My mother-in-law received a 1099-R for an annuity pay-out. She is 88
years old. While she was living in California, a young "friend" in a
religious group she belonged to offered to handle her finances. At first,
he used the money for some personal real estate transactions. I think
she had about $55,000 that she literally gave to him. Eventually he
bought an 8 year annuity contract in his and his wife's name. From that
point on he paid her bills with a social security check which was deposited in
a joint account with my mother-in-law. He says he also paid some of her
bills with his own money which he probably did, but he also used her money
for quite some time for personal gain. Anyway, when she came back to
Michigan to enter a nursing home, we discovered that she had no control
over the annuity.
After an attorney contacted this "friend", he did sign over the annuity to
her and submitted a bill for $20,000 for administrative fees which we have
not paid. The paperwork we got from Old Colony insurance company doesn't
say how much was paid for the annuity.
Now the questions. Does she owe some taxes on the money? In the past she
hasn't even had to file income tax anymore because her only income was
social security. If tax is due, would it be on the profit (investment and
fees vs payout)? On the 1099-R only boxes 1 and 2A are filled in with the
amount of payout and nothing is indicated as to what the original cost
was.
Jackie Monk jmonk@umich.edu Kelsey Museum of Archaeology 434 S. State St.
Ann Arbor, MI 48109-1390
(313) 763-3559
------------------------------
Date: Sat, 19 Apr 1997 12:28:30 -0400 (EDT)
From: David Chaille <davec2@ptconnect.infi.net>
Subject: Re: Quicken and Spinoffs
>(Any version of Quicken handle spinoffs?)
I would suggest calling Intuit's tech support for Quicken. Or
alternatively, you might get a answer from their web site.
I have the latest Quicken Deluxe for the Macintosh and Intuit has really
improved the investment features. However, I have not had a reason to
record "spin-offs."
Good luck,
David Chaille
(Editor's Comment - I believe this relates to how the spin off happened
(stock swap, pooling of interests, etc.). If it's an exchange of one
company's stock for another company's stock, then record it as a purchase
of one stock and a sale of the other. Find out the price from the spin
off document (you approved it at the stockholder's meeting, remember?).
If it's a sale, then treat it as a sale, etc. -IK)
------------------------------
Date: Sat, 19 Apr 1997 12:29:37 -0400 (EDT)
From: David Chaille <davec2@ptconnect.infi.net>
Subject: Re: How to Handle Mortgage Refinancing in Quicken
I have Quicken Deluxe 7 for the Mac. All you have to do is to use the
edit button for the account and check the hide option to rid yourself of
seeing the cancelled credit cards. If you ever want to see them again,
just check the "unhide" feature at the bottom of the accounts window.
All the data is preserved. i have done this with numerous credit cards,
bank accounts, CD's, etc.
David Chaille
(Editor's Comment - I don't believe this answers the question. -IK)
------------------------------
Date: Sat, 19 Apr 1997 12:30:22 -0400 (EDT)
From: "Anh Tran" <Anh.Tran@Forsythe.Stanford.EDU>
Subject: Pure water retail store cost?
Hello!
Does anyone know what is the cost of the water purification system for
a pure water retail store? and also is there any data for this business
out there to look at?
Any suggestion and advised would be greatly appreciated.
Thanks
Anh
------------------------------
Date: Sat, 19 Apr 1997 12:31:27 -0400 (EDT)
From: Jeff Morgan <morgajs@parsec.com>
Subject: Re: Legal Claim on His Wife's Pension (in Colorado)
(Editor's Question - How about non-community property states? -IK)
FWIW, in the state of Colorado, my spouse's notarized
signature was required when I rolled proceeds from a 403(b)
held by Mutual of America to an IRA. I've also had occasion
to roll 401(k) proceeds and lump sum pension plan distributions
to IRAs, and my spouse's signature was *not* required.
I don't know if this says that there's something special about
a 403(b) plan, or about M of A specifically, but the customer
"service" personnel at M of A seemed to go out of their way to
make my rollover as difficult as humanly possible. Several
issues arose, and as a consequence, I'll avoid doing
business with them in the future.
- --
Jeff Morgan - mailto:morgajs@parsec.com
------------------------------
Date: Sat, 19 Apr 1997 12:31:55 -0400 (EDT)
From: vemuri@informix.com (Sudhakar Vemuri)
Subject: McDonalds DRIP is a Raw Deal
Hi,
McDonalds DRIP is not as good as it used to be earlier. There are
commissions on purchases since 1995. You have to pay 5$ to enroll. Then 5$
for checks payment or 1$ for ACH. Then there is 10c per share purchased.
There is 3$ account service fee per annum deducted from your dividends.
Since DRIPs are for long term, these costs can add up if your monthly
payments are too low. If you choose to put 100$ a month, the annual costs
are 1.20 per month @50$ a share. That is 1.2% cost. Some people argue that
a typical stock fund charges that much in load. Choice is yours.
Compare them to GE/INTC that I am are virtual commission free purchases.
GE purchases on 25th of the month and INTC on 1st of the month. Both are
waiting for shareholder approval for 2 for 1 split.
Thanks,
Sudhakar Vemuri
PS : I am in MCD Drip, but not making any additional purchases.
------------------------------
Date: Sat, 19 Apr 1997 12:34:44 -0400 (EDT)
From: Mirin Lew <mirin@scmkt.sr.hp.com>
Subject: Re: MCD DRIP / Auditing Mortgage Lender's Interest Charges (Waste
of Money)
Sender: owner-persfin-mod@shore.net
Precedence: bulk
I would not recommend McDonald's DRIP plan, because they just implemented
a whole host of fees that will probabably nickel and dime your friend to
death. On the plus side, you can buy your first share of stock directly
from the company. For more info, visit http://www.mcdonalds.com/a_system/
mcdirect.
> From: Vicki Simons <probe@scescape.net>
> Subject: Re: Checking on Mortgage Lender's Interest Charges?
>
> <dannydo@pacbell.net> wrote
> > Is there someone that check and see if mortgage lender charge you the
> > right amount of interest based on the contract and ask the lender for
> > a refund if the lender overcharge? I need to double check my mortgage
> > interest and if any, I can use the refund...
In my opinion, "mortgage audit" companies are a waste of money. They
don't do anything for you that either a personal finance program
like Quicken, or even a simple spreadsheet like Lotus 1-2-3 or Excel,
couldn't do. Just set up an amortization table to check if the
lender has been charging the correct amount of interest, and if not,
contact the lender to explain the discrepancy. In my case, I use
Quicken on an adjustable mortgage, and the amount that Quicken says should
be paid toward interest on the next payment is always correct.
Mirin Lew
(Editor's Comments - If you prepay, make sure the additional amount goes
towards principal. -IK)
------------------------------
Date: Sat, 19 Apr 1997 12:36:58 -0400 (EDT)
From: Harry Matthews <matthews@panix.com>
Subject: Re: Pros And Cons of Holding Gold/Phone Cards/Car Rental in France
> (Editor's Question - Pros and cons of holding the actual gold
> itself?
> Gold bars? Held in custodianship? -IK)
A friend who once sold Krugerrands explains that the main advantage of
holding coins is that their value is guaranteed by the way they are
produced. "Shaving," for instance, could easily be detected by the
absence of milling on the edges or distortions of the design. But if
you buy or sell a gold bar, you have to pay to have it weighed and
assayed. Ergo, while coins command a certain premium, they spare a lot
of expense and inconcenience in trading.
> From: "Edward R. Fickenscher" <grants@cs.wustl.edu>
> Subject: Calling Cards - Good Idea?
If you don't need a detailed record of calls, you might consider using
prepaid cards. You typically buy them for a fixed sum ($5, $10, $20,
$50 or what-have-you) and access the service by dialing an 800 number
and entering a PIN code (printed on the card); a recorded voice tells
you how many dollars and/or minutes you have left. You then dial the
distant number you want. If you don't use up all the time on one call,
it remains available for future calls. Many of these cards also let you
add value to the account by charging the additional funds to a credit
card. Rates vary widely, but it's not difficult to find a 25- or
30-cent a minute rate for calls anywhere in the US, any time or day --
considerably less than you'd pay for a most "calling card" calls on the
major long distance carriers, given the per-minute rates and the
per-call surcharges they impose.
Prepaid cards are sold in a variety of outlets, from inner city bodegas
to the U.S. Post Office (which earns big bucks from overseas tourists,
who usually assume that the post office and phone company are related).
There are even low-demonination cards offered as sales promotions: buy
our product, get $5 in long distance.
The downside, as I suggested before, is that the issuer provides no
records of calls made. If you need third-party confirmation for an
expense account, these cards may not work. But if you're talking about
personal calls, or calls that can be documented elsewhere (e.g., from
corporate phone logs), this approach may save you money.
> From: Sandi Rollins <srollins@econ.Berkeley.EDU>
> Subject: RE: Car Rental in France - Don't Do It
>
> Eric:
>
> It's probably too late now, but I would advise against renting a car
> in
> France. The VAT in Paris is higher than almost anywhere else in
> Europe
The VAT is a national tax, but the point is extremely well taken. I
worked for several years for an international education organization and
learned that all European countries consider car rentals a "luxury" and
impose taxes at a corresponding rate -- ranging from 15% to 37.5%.
Especially if you're planning to visit more than one country, shopping
for rental car rates can pay off big time. (Caution: in Britain and
Ireland, rental cars do not automatically come with the "green cards"
which provide insurance cover throughout the 12-nation European
Community. There is often a hefty surcharge for this coverage.) You
may even discover a way to get the VAT reduced for the time you spend
out of the car's "home" country. France, on the other hand, has a
national policy of discouraging auto use, through both extravagant taxes
(which push the gas price close to $5 a gallon) and generous subsidies
to public transportation, so it is an exceptionally bad place to rent,
unless you can write it off on an expense account (as most French
car-owners do).
Some other points to consider: look for prepaid dollar plans. In the
first place, they give you fixed costs you can budget around. What's
more, some countries grant them reduced tax status in the name of
boosting the tourist industry.
Call your car insurance agent and ask what coverage you may have for a
car rented abroad; it's often more generous than you'd think. Get
appropriate documentation and carry it with you; it could well qualify
you for a waiver of insurance surcharges. Ditto with any coverage your
credit card company may provide. And in the event of a fender-bender,
try direct negotiation with the other driver. In many countries, any
claim (even one re-imbursed by a company in another country) can result
in an increase in insurance rates. Offering a reasonable sum in cash
(say $30 for a broken tail light lens) can often end a case on the spot,
the goal European insurers want to reach.
Also, keep in mind the fact that, in Europe, only luxury cars have
automatic transmissions, so requesting an automatic usually pushes your
rental rate into the highest category. If you're looking for an
affordable vacation car, you might try recovering the skills you used on
the VW beatle you drove in your strudent years.
Finally, do remember that European countries have more far-reaching
public transportation systems than most of the US. For city-to-city
travel or getting around in metropolitan areas, you're probably better
off with a train, plane, bus, tram, or taxi. But if you're visiting
remote areas or looking to roam forgotten countrysides, rental cars are
likely worth the cost.
H [>o<] M
P.S. If you're planning an extended visit AND a new car purchase, you
may want to look into "European purchase" plans offered by many
companies. You strike a deal through the company's US affiliate, pick
up the car at the factory, and drive it around (with no rental or lease
fees) for at least 90 days (long enough to make it a "used car" under
customs regs), then ship it home (for a fee included in the original
deal). It's more expensive than buying a European car here, but less
than a long-term lease/rental in Europe PLUS a new car here.
------------------------------
Date: Sat, 19 Apr 1997 12:37:29 -0400 (EDT)
From: wwoody@juno.com (William C Woody)
Subject: Re: Calling card - Try National TeleService
A gentleman asked about telephone calling cards. I have been very
pleased with National TeleService, 800 657-4444. Much cheaper than phone
cards sold at grocery stores, etc.
Bill Woody
------------------------------
Date: Sat, 19 Apr 1997 12:38:33 -0400 (EDT)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: Inheritance is not a martial asset in case of divorce
I am not an attorney and the following is not legal advice. It is just my
opinion. It is based on my experience in California. The laws of your
state may be different.
An inheritance is usually the sole property of the person that received it.
However, it is very easy for it not to stay the sole property of the
person that received it. To keep it the sole property, see the notes
below.
If it is money, do not put it in your joint checking account. Put it in an
account with only your name on the account at a different financial
institution from where you keep your checking/savings accounts.
If it is real estate, do not pay taxes on it with money from your joint
checking account. Do not put another person's name on the deed.
If it is personal property in states that have personal property tax, do
not pay these taxes from your joint checking account.
If you have it in an interest bearing account, do not pay the taxes on that
interest from your joint checking account.
If it is a auto, do not put another person's name on the registration. The
same goes for stocks and bonds.
Do not put the asset in a trust unless you are the only benificary of the
trust.
Do not pledge it as collateral for a loan taken out by you and your spouse.
BOB FORD
------------------------------
Date: Sat, 19 Apr 1997 12:42:37 -0400 (EDT)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: Re: Medicare and Blue Cross
Eric
I hope this note does not start flames coming my way. I do not belong to
an HMO, however I had several family members that did. I can only relate
their experiences to you. Their experiences have given me a STRONG BIAS
AGAINST HMO's. It is my opinion that if you want good medical care, DO NOT
go to an HMO. HMO's make money by NOT GIVING YOU MEDICAL CARE.
It is in their financial interest to spend as little time with you as
possible and to give you as little care as they can get by with. Remember
HMO's are a business and they are interested in the bottom line. They
want to make a profit for their shareholders. The more medical care HMO's
give you, the more money it cost them.
In fact if you are seriously ill, it is cheaper for an HMO to let you die
than to treat you long term with expensive hospital stays and treatments.
I do not claim that will do that. It is just in their financial best
interest to do so.
When I have a medical problem, I want my medical care providers to have as
their priority, getting me well, not how soon they can get rid of me. I
also want to choose who gives me medical care. If for example, I have a
heart problem, I want to see a Cardiologist on my first visit. I do not
want to see a doctor that might or might not refer me to a Cardiologist.
In most HMO's it will cost the referring doctor money to send me to a
Cardiologist. Would that shade their judgement?
HMO's usually have a policy of using only the cheapest medicine to treat an
illness. I do not want the cheapest medicine to treat my illness. I want
the BEST medicine to treat my illness. Some HMO's make you wait a long
time to get medical care if your problem is not serious. The problem is
how do you know if a problem is not serious unless you see a doctor.
Isn't it worth something to be able to call your non HMO doctor and get an
appointment the same day if your think you might be sick.
BOB FORD
(Editor's Comment - Bob is correct. It might be even worse than he
describes. With capitation, doctors are paid a fix fee per year per
enrolled patient. That means the doctor has an economic incentive not to
treat, since he/she keeps the difference and presumably must eat the
difference if the cost goes above the capitated amount. This type of
incentive is more and more common across the country. -IK)
------------------------------
Date: Wed, 16 Apr 1997 23:59:17 -0400
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: Re: Checking on Mortgage lenders interest charges
DANNY
This is how you can compute what your monthly mortgage payment should be.
Assume your mortgage is $100,000. It is for 30 years and it is 12 percent
interest.
This calculation does not include any taxes and insurance you pay with your
mortgage payment.
Find you MONTHLY interest rate by dividing the YEARLY interest rate by 12.
Remember a yearly interest rate of 12 percent on the loan has an interest
rate of .12 (12/100) so the monthly interest rate is
.12/12 =.01
Find how many months it will take to pay off the mortgage by multiplying
the years
by 12.
30 years X 12 =360 months
Add the monthly interest rate to 1.
1 +.01= 1.01
Divide 1 by the answer above (1.01)
1/1.01=.990099
Multiply the answer above times itself the number of months of the mortgage
(360). For people with a math background this is the same as raising
.990099 to
the 360 power. Most calculators
Y
have a X key to do this for you.
.990099 times itself 360 times = .027816
Subtract the above answer from 1
1-.027816=.972814
Divide the above answer by the monthly interest rate of .01
.972814/.01 = 97.218
Divide 1 by the above answer.
1/97.218 =.0102861
Multiply the above answer by the amount of the loan to get your monthly
payment.
.0102861 X $100,000= $1028.61
The monthly payment on the above loan should be $1028.61
NOTE: On the first payment, you pay interest of $1000 and principal of
$28.61
If you do not want to go through the above math, you can buy a financial
calculator or get software that will do amortization for you.
If you need more information, let me know.
Bob Ford
------------------------------
Date: Sat, 19 Apr 1997 12:45:04 -0400 (EDT)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: Are Wills Ever Read?
The recent post about contesting a will left me with a question. Are wills
read to the heirs?
Has anyone been to a will reading?
Bob Ford
------------------------------
Date: Sat, 19 Apr 1997 12:45:43 -0400 (EDT)
From: "David J. Churchill" <churchilld@worldnet.att.net>
Subject: Re: Calling Cards
I would suggest inquiring with Costco about their plan. A Costco
membership allows you to use their plan - the cost is billed to the
charge feature of your Costco card. I have not used it yet (my wife and
I do very little calling from home) but I'm sure the cost is quite
competitive.
------------------------------
Date: Sat, 19 Apr 1997 12:46:25 -0400 (EDT)
From: Scott Johnston <JOHNSTOS@gunet.georgetown.edu>
Subject: Calling Cards - Another Suggestion
Check out any issue of an Airline Magazine. There are independent
calling calls W/O an access charge and a standard flat rate. I use
VOICENET (800-377-1490) 17 cents per minute, no access fee, billed in
10 sec increments. Usual disclaimers. My credit card is billed monthly (no
minimum) my average bills have dropped 62%. Sorry no freq. flyer miles
(yet). Nice readable statement each month. MCI charges 89 cents per call
+ 31 cents per minute billed in 1 minute increments.
Scott Johnston
------------------------------
Date: Sat, 19 Apr 1997 12:47:41 -0400 (EDT)
From: Nick Lebredo <NLebredo@exchange.ureg.ohio-state.edu>
Subject: McDirect Stock Program
You can buy your first and subsequent shares directly from McDonalds
via its McDirect Program. Call (800) 228-9623 to get information on
enrolling in the DRIP. Purchase fees were raised relatively recently
as seems to be the trend with "no-load" stock programs. Still beats a
broker though if you like the company and plan on investing for the
long term since you normally have much less control over the timing of
selling with DRIPs. As another consideration, record-keeping is also a
little more demanding than a mutual fund. For information on other
DRIP programs and no-load stock investing in general, a recognized
expert is Charles Carlson. If your friend has an interest in DRIPs and
direct purchase programs, recommend he/she read one of his various
books on the subject.
------------------------------
Date: Sat, 19 Apr 1997 12:48:44 -0400 (EDT)
From: Barry Basden <bbasden@orion.tstar.net>
Subject: Re: McDonald's DRIP - check out www.netstockdirect.com
Anyone wanting to set up a DRIP should check out
http://www.Netstockdirect.com to see if you can buy the first share
directly from the company. McDonald's is one of many listed that offer
this service.
Last time I checked, though, McDonald's DRIP was not offered gratis. The
associated fees could make small purchases somewhat costly.
Good Luck.
Barry
------------------------------
Date: Sat, 19 Apr 1997 12:49:06 -0400 (EDT)
From: SMorris443@aol.com
Subject: Credit Counseling Experience? CCCS?
I am a single mom who is finding it hard to make ends meet from week to week
due to a large amount of unsecured debt. I was wondering if anyone has had
any experiences with organizations that negoitiate repayment terms with
creditors, such as CCCS or Money Management by Mail. I am interested in how
my credit rating might be affected and if I would have problems obtaining a
mortgage or auto loan.
Any experiences would be appreciated.
Susan Morris
------------------------------
Date: Sat, 19 Apr 1997 12:49:57 -0400 (EDT)
From: BERT HORWITZ <BG4868@bingvmb.cc.binghamton.edu>
Subject: Maximum Amount of Social Security for Married Couple?
dear netters:what is the maximum amount of social security benefits for a
married couple,both being over 70 years old?thank you.
------------------------------
Date: Sat, 19 Apr 1997 12:54:00 -0400 (EDT)
From: mantin@ix.netcom.com
Subject: Re: Setting Inheritance Question Straight
Setting inheritance straight:
The common estate planning tool to anticipate the sons and divorce is to
use a revocable living trust by the father, irrevocable on his death, and
including Generation Skipping provisions, so that the sons have no right
to withdraw or automatically receive income from the Trust. If
"practical" control is desired, allow the each son to be trustee of his
own share, and provide HEMS discretion in the trustee (distribute income
and/or principal upon discretion of trustee based on the ascertainable
standard of health, education, maintenance and support of son), which not
only keeps assets out of divorce consideration but also from estate
taxation at death of son.
If practical control is not so important, sons together may serve as
co-trustee of the shares for each of them, or truly independent trustee
may be used. This is so commonly done, it is surprising that Dr Levy is
unaware. Perhaps, if he were to discuss his planning objectives with a
Fellow of the American College of Trust and Estate Counsel (there are 2500
in the United States, out of 325,000 attorneys), he might get appropriate
help, so that his entire estate plan can be co-ordinated, rather than
helter skelter set up. It is cheaper to use this network for help, but it
can be way more expensive, since he does not know from whom he is getting
advice. This is not legal advice and may not be relied upon. See your
own attorney. Mike Antin
(Editor's Question - Why not use a CPA instead? Might be better because
not all lawyers know the tax issues. What are the fee comparisons? -IK)
------------------------------
Date: Sat, 19 Apr 1997 12:55:35 -0400 (EDT)
From: The Joneses <ajjones@io.com>
Subject: Pay off Credit Card or Keep Savings Intact?
(I'm trying to get lots of opinions, so sorry if you've already seen
this posted somewhere else.)
I know it's often recommend that one keep 3-6 months' worth of living
expenses saved in cash (or some other easily accessible place). But what
if I have a large credit card debt (all @ 12% interest or less)? If I
left the savings intact (currently earning 4-6%), I could pay off the CCs
in about 33 months. If I kept, oh, $1000 or something for quick cash
emergencies and applied the rest of the savings toward the CC debt right
now, I would be paid off in 27 mths, and would save about $1100 in
interest. In this case, were a serious emergency to occur, I could always
get the cash back off of the credit cards.
Any opinions or experiences on this kind of situation?
Thanks.
Alicia Jones
(Editor's Comment - I like your idea. Your best "investment" is paying
down your credit card ASAP. -IK)
------------------------------
Date: Sat, 19 Apr 1997 12:56:07 -0400 (EDT)
From: vemuri@informix.com (Sudhakar Vemuri)
Subject: tax withholding question
Hi,
Some weeks ago, I put a question about tax withholding and penalties
rather vaguely. I got only one response.
My wife worked only part of 1996 and will be full time this year. Both
of us are claiming 2 allowances each on our W4. Our projected 1997
withholding is likely to be little more than 1996 taxes we paid. This
shoud avoid the penalty becuase 1997 withholdings are equal to 100% of
1996 taxes paid. I know I have huge tax bill due in April 98. I will put
my additional take home pay into a money market or similar for 1 year and
make money instead of IRS.
1. Is my logic correct ? Are there any catches with it ?
2. Legally, can both of us claim 2 exemptions each in our W4 ?
Thanks,
Sudhakar Vemuri
------------------------------
Date: Sat, 19 Apr 1997 12:56:41 -0400 (EDT)
From: eric <73354.3477@CompuServe.COM>
Subject: Re: Phone calls away from home
I use World-Com (800-375-8200). Calls cost 18 cents/min. anytime,
anywhere. You are billed monthly. No monthly fee. You get a card with your
access and ID numbers. It's painless.
------------------------------
Date: Sat, 19 Apr 1997 12:57:27 -0400 (EDT)
From: Scribler <scribler@erols.com>
Subject: Great return on CD's, is it???
I got and email today describing great returns on CD's from
FREEDOM STAR BANK -- P.O. Box 66781 -- Phoenix, AZ 85082
They claim to offer only CD's, i.e., Certificates of Deposit.
The contact person's name is Mr. Jon L. Boulet at 1-602-267-9688
Has anyone had any experience with these people?
is it real or is it a scam?
------------------------------
Date: Sat, 19 Apr 1997 12:58:14 -0400 (EDT)
From: Ken Stone <kstone@pantheon.YALE.EDU>
Subject: re: historical quotes
> Does anyone know of a on-line quote service that allows me to get a
> price quote for a certain date? I would like to put in a symbol and a
> date and get the share price or NAV on that date.
Compuserve has this service.
------------------------------
Date: Sat, 19 Apr 1997 12:59:18 -0400 (EDT)
From: padre4@juno.com (John Whitley)
Subject: Re: First Trust Deed - On The Level?
Can anyone comment on this advertsment and let me know what I might be
getting into?
12% Bank Savers 1Yr Plan Interest Paid Monthly
First Trust Deeds/ Fully Secured/Title Insured
3 ways safer than bank c.d's/ Amazing But True
3, 6, or 12 month investment terms avail
our 25K 1 yr T.D. pays you $250 monthly
AABASE HOMES 25,000 Minimum
Thanks.
------------------------------
End of persfin-digest V4 #25
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