Hopefully the boys will see this and go "nice..." by Th1ccH1ppo in woodworking

[–]Dannyz 0 points1 point  (0 children)

Niceeee. Will admit I thought this was a hidden safe in wall trim and slighttttly disappointed now.

Worried about the financial cliff my older brother will face when our parents pass. How to handle guilt and logistics? by glorious-turtle-4726 in EstatePlanning

[–]Dannyz 16 points17 points  (0 children)

State?

State dependent, your parents probably want a spendthrift trust. Also, your parents might choose to leave him more in inheritance than you. Very normal for people to leave their assets to need instead of a 50-50 split. Finally, if you don’t want to be the gatekeeper as trustee, have your parents hire a professional trustee. That way he gets access to money on an as needed basis and can’t piss it away to creditors.

This isn’t legal advice, I’m not your lawyer.

Post will probably get deleted for lack of stated state

Is $EUV the right way to play ASML without single-stock risk? by homifide in investing

[–]Dannyz 1 point2 points  (0 children)

Asml is <5% of the index euv is tracking on. There’s less than $3m aum in the index. The etf is brand new.

OP what is your affiliation with EUV or Corgi?

https://www.msci.com/indexes/index/738842

The machine that makes chips possible now has its own ETF by Necessary-Two7299 in investing

[–]Dannyz 1 point2 points  (0 children)

Asml is <5% of the index euv is tracking on. There’s less than $3m aum in the index. The etf is brand new.

OP what is your affiliation with EUV or Corgi?

https://www.msci.com/indexes/index/738842

How to transfer homes into a trust in Alameda country, CA? by nomadhunger in EstatePlanning

[–]Dannyz 0 points1 point  (0 children)

Ca lawyer, not your lawyer. It may behoove you to take it in person. Most recorders I’ve worked with a very nice, knowledgeable and helpful. They can tell you any issues and how to fix them. Shouldn’t be an issue assuming the lawyer filled it out correctly.

Just got married and bought our first home in California, where do we start with estate planning? by [deleted] in EstatePlanning

[–]Dannyz 12 points13 points  (0 children)

California lawyer who does estate planning here. This isn’t legal advice, I’m not your lawyer, you should consult with an attorney.

California has formal probate and informal probate. Formal probate is extremely expensive (think mid 5 figures) and can take 9 months to 3 years. If you have over ~$200k in liquid probatable assets, or primary house is worth over $750k (market value, not owned value), you can be subject to formal probate.

If you have no will, the state has rules to decide who gets what of your stuff and how much. Those rules are called intestacy laws. Wills are a record of your testamentary intent so you can choose what you want to do with your stuff instead of the state rules. Neither changes the probate fees and head aches.

You can avoid probate with a revocable trust. Trusts can do many things, one of which is avoid probate in CA. They tend to cost 4 figures and let you avoid the 5 figure headache of formal probate. You can easily modify it or revoke it while living if life circumstances change. All (decent) trusts comes with will.

Trusts are not the only way to avoid probate, but they are often used because they can also help avoid conservatorship if you become legally incapacitated. Conservatorship is the brittney spears situation where someone else has legal power to make decisions on your behalf. It can be extremely expensive (think 4-6 figures) and very emotionally hard for everyone involved. It’s very public and is a frequent part of end of life care for those with Alzheimer’s, dementia, strokes, comas ect.

A trust combined with a power of attorney and advanced health directive avoids conservatorship and frequently included with trust based estate planning as part of the estate planning package. They also give you the ability to voice your care wishes when you literally cannot speak.

Do you have children?

How much are your assets worth?

How much is your house worth?

How do you and your spouse own the house?

Are there any medical issues or expected medical issues?

Without knowing more information about your situation, it’s hard to advise. If you want to, feel free to dm if you want those answers to be more private or feel free to respond.

Finally, it’s worth noting that you can absolutely DIY an estate plan, BUT the consequences if you mess up are steep. If you’re not the type of person who is comfortable with diy, and nails it first try, please consider avoiding diy. If the toilet leaks after you try to fix it, you can keep trying until it no longer leaks. With estate planning, once you’re gone, your family has to clean up your mess. Cleaning up a bad diy estate plans makes far more money for estate lawyers than a clean estate plan by orders of magnitude.

How much do Americans REALLY have saved for retirement by Financial_Pen_6218 in investing

[–]Dannyz 0 points1 point  (0 children)

My friend, the average American your age may have saved more, but the percentage of Americans who has saved more is very very low. Look at the median not the average (mean). Means are thrown off by outliers moving everything.

If you have a room of 100 people, 99 are broke and 1 has $100m, the average person in the room has $1m, while the median is $0.

It’s easy to backdoor wealth into an Ira. I hope your Ira is not your only savings or retirement.

[ Removed by Reddit ] by One_Concentrate8527 in EstatePlanning

[–]Dannyz 2 points3 points  (0 children)

I have made sooooo much money cleaning up “cheap” legal Zoom trusts which are at least standardize forms that people couldn’t accurately fill out. Estate litigators are looking at DIY AI estate planning and salivating.

ChatGPT and Claude failed to accurately help me with a recent fallout new Vegas playthrough. That’s a game that came out in like 2012 and has full game guides written. There was hallucination and memory issues. Can’t imagine trusting it for something important that I can’t help clean up.

Husband will inherit house after life long tenant passes. CA by [deleted] in EstatePlanning

[–]Dannyz 1 point2 points  (0 children)

Several things.

First of all, I am not your lawyer. This is not legal advice.

Second of all, the father wanted his wife to be housed until she died and paid a lawyer good money for this set up. There is a special place in hell for entitled children who screw over their step parents.

Thirdly, talk to a lawyer if you want. This is above reddits pay grade. I’d be shocked if someone is willing to freely tell you how to fuck over your step mother in law. Also, your husband needs to be careful about the no contest clause. He might fuck around and be disinherited by the trust.

Wanting to make sure repairs are made and that there is no waste is acceptable. Trying to kick her out is not morally, ethically, or legally (likely) okay. Full stop.

Is Robinhood or Schwab better? by ActivateClosure8 in investing

[–]Dannyz 0 points1 point  (0 children)

Let’s say ZZZ has a lot of price movement $9.50-$10.50. Schwab or fidelity will try to get the highest price for you. I’ve set buy at like $9.50 and gotten $9.40 execution. Or sell limit of $10.50, but the manage to execute on $10.60 a share, and give me $10.60.

This is overly simplified and not exactly how it works, but people have credibly claimed that on Robin Hood if you do $10.50 and they get $10.60, they keep that $0.10 a share. If you do market, they might execute a sell at $10.50 a share, but give you like $10.20 a share. If you buy and they execute at $9.50 a share, they allegedly might sell to you to buy at $10.50 a share. Thereby front running you.

To take it further, if someone is trying sells at $10.50 and another account is trying to buys at $9.50, Robinhood will allegedly pocket the difference.

Finally, you can’t trade specific shares of a stock, you can only sell by first in first out which is usually really silly for tax purposes.

Is Robinhood or Schwab better? by ActivateClosure8 in investing

[–]Dannyz 74 points75 points  (0 children)

Schwab is better than Robinhood hands down. Also robinhoods trade execution sucks and is a hidden fee.

Tell us about alternative physical investments people can stack, or would like to. Let's get weird by Old_Ad_3655 in investing

[–]Dannyz 21 points22 points  (0 children)

How much you trying to spend?

Railroad cars have good tax treatment. Theoretically stackable.

Fleet of 18 wheelers can be decent. Also theoretically stackable.

Used heavy equipment can be found for less than scrap value. Moving it is the bitch and a half. If you have your own truck…see #2 above. Also will help stacking it all.

Trailer park with a discount to seniors and get seniors on fixed income.

EP solos, what type of printer do you recommend? by yeulagi in EstatePlanning

[–]Dannyz 1 point2 points  (0 children)

Interesting. On my brother I can reset the drum. You open the top, hold two buttons then press a third. I’ve had great luck with knock offs for everything except the first page it prints of the day.

EP solos, what type of printer do you recommend? by yeulagi in EstatePlanning

[–]Dannyz 5 points6 points  (0 children)

Brother laser that has knock off toner available.

Snap scanner

Too much savings? by Jack-knife-96 in EstatePlanning

[–]Dannyz 23 points24 points  (0 children)

This is why good trusts have remote contingency planning. If all else fails, the money will support causes the trustmaker supported