HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Personal Finance and Investing (Group) » Introduction » Reply #24
In the discussion thread: Introduction [View all]

Response to A HERETIC I AM (Reply #22)

Wed Jul 8, 2020, 03:38 PM

24. The "Don't keep all your eggs in one basket" idea is fine for FDIC accounts these days

Since they top out for federal coverage. But for brokerage accounts it doesn't make sense. Mostly my parents wanted to keep their net value private in a very small town, but not telling their estate planners the truth was downright stupid.

At least my parents had the sense when they re-wrote their wills in 2011 and set up a professional trust company to be co-trustee with my sister. All the accounts are now consolidated there. My sister is now over 70 and some of my parents' grandchildren's trust will run for another 40 years (or longer if the grandchildren pass before then and their children inherit), so having a company handle things makes sense.

I have a spending account at a SunTrust (soon to be Truist) and my EJ account. Period. With all the other things my Dad kept going being dissolved or sold, my accountant's life will be much easier going forward.

At the moment my biggest headache is that my husband and I are waiting for three estates to be settled - my parents' (which are seperate), and my husband's mother's. Talk about nightmares!

We both were lucky - there were few conflicts about the personal possessions. I gave in on one table I really wanted and basically bought off my sister for a clock. The one big thing still left is a mirror that no one seems to want but that shouldn't just be dumped on the estate sale market. I may take it just to simplify things, but shipping a mirror that is 8'6" tall and over 4' wide is not cheap or easy.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 31 replies Author Time Post
hermetic Jul 2020 OP
empedocles Jul 2020 #1
empedocles Jul 2020 #7
hermetic Jul 2020 #14
BComplex Jul 2020 #2
hermetic Jul 2020 #15
progree Jul 2020 #3
hermetic Jul 2020 #16
Canoe52 Jul 2020 #4
Merlot Jul 2020 #5
hermetic Jul 2020 #17
Merlot Jul 2020 #25
bottomofthehill Jul 2020 #6
hermetic Jul 2020 #13
csziggy Jul 2020 #8
hermetic Jul 2020 #18
csziggy Jul 2020 #20
A HERETIC I AM Jul 2020 #9
progree Jul 2020 #10
progree Jul 2020 #11
A HERETIC I AM Jul 2020 #12
csziggy Jul 2020 #21
A HERETIC I AM Jul 2020 #22
LineLineLineLineLineNew Reply The "Don't keep all your eggs in one basket" idea is fine for FDIC accounts these days
csziggy Jul 2020 #24
hermetic Jul 2020 #19
A HERETIC I AM Jul 2020 #23
bucolic_frolic Jul 25 #26
hermetic Jul 26 #27
bucolic_frolic Jul 26 #28
PoindexterOglethorpe Aug 24 #29
A HERETIC I AM Sep 8 #31
Post removed Sep 1 #30
Please login to view edit histories.