Pelican Parts Forums - financial planner recommendation needed; NOT mainly investment-focused

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Quote:

Originally Posted by Seahawk (Post 12203370)

I'll do it for free.

Send her to me.

Seriously, I have done this many, many times and helped a lot of people not crater financially; Others, not so much when they spit the bit.

If I can't make it work, her problem. Worth a shot since I will have zero skin in the game other than what is true in the real world of personal finance.

Your call.

You a good man, Paul. In spite of what everybody says.

Ben Franklin: Simplify, simplify.

Crowbob: Simplify.

1) Earn more
2) Spend less.

BOTH are required to gain financial serenity. Simple.

Quote:

Originally Posted by skipgs911 (Post 12203507)

.... If you can post a specific recommendation with a link, thank you.

I've heard these folks are excellent, but have no personal experience....

Seahawk&Crowbob.com :D

Quote:

Originally Posted by KC911 (Post 12204232)

^^^^ After talking with an atty about "Trust"(s), etc. and wanting to KISS, and all the instructions, contingencies, and family dynamics (i.e. looking out for each other), ages, etc. I went (as did my parents) in a different direction .... moving away from a trust they setup decades ago. It gets complicated when your "primary" administrator croaks, etc. and I don't want to burden others, nor have non-family deal with stuff ..... that's family. The amount of $$$/property(ies) differs for each situation too... ain't easy ;).

I (and my parents) will "give it all", no strings attached to an absolutely responsible, TRUSTed individual and told to "take care of your mother, grandparents, family" .... this will NOT work for some, but it's YOURS .... do the right thing.

Just for consideration.... maybe consider:

Kid 1 - 0% (or mebbe a very modest amount)
Kid 2 - 50%
Kid 3 - 50%

Kids 2 & 3 are instructed to "take care of Kid 1" as life changes, curve balls that you NEVER anticipated and "time" changes every thing .... and it will ;).

I know my family and you know yours.... what works for me .... might not :D

But I'm good with it... YMMV.

It all depends .... my crystal ball is really a cube ... and cloudy too... but it's family :).

Good luck!

This is sort of what my Grandmother set up for my Mom to administer for her brother. It has been a personal disaster for them. They no longer speak unless it is about money, and that is mostly to confirm he is still alive. If he passes before the crazy wife, it all stops. He and his wife are mentally ill but independent. They are constantly demanding money not owed to them. They have sicked lawyers on her at least once but her record keeping was so solid, the lawyer told them to pound sand once he saw what was going on. It was complicated by G&M having assets (rental property) they owned together, but brother got his 25% of that joint income and 50% of the property income Grandma owned outright. He gets a healthy monthly check which is always not enough.

This is all birth family drama, so I'm removed from it. My bio Mom is now 80 and my sister is set up to take over if she passes first. Likely won't happen.

Family can work well if there are level heads involved. If not, it is a significant burden on the trustee.

^^^^ Every family situation is different .... FOR SURE! After all my parents (and I ... behind the scene) have done for my older sister .... the shtf years ago... (now somewhat resolved) about other things (not financial in nature) and I absolutely recused myself from being involved with the trust my parents had set up.

We put that "burden" on her daughter ... the ONE person on this planet who my sister will not "question" .... and if she does.... ???

No right answer imo .... time passes on....

Good luck all!

Kid#2 (age 22) already is sick of kid #1 (almost 24)

I don’t really trust my kids to be nice for the rest of their lives.

I love them all. But, they (like all of us) have flaws and issues.

And, Kid #1 can be a real pain.