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Family Financial Planning - 4/24/2005 4:04:32 AM

terah

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Joined: 12/17/2004
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How many of you have plans to include your extended family in financial planning. As our family gets older and we see this as long term everthing we do as a group is in a Trust. Which includes personal and created investments. Recently we have dicussed by purchasing plots as that we have to place to be laid to rest rather then waiting for something to happen. Mind you we women are in our 40's and our dominant is in his 50.

Has anyone else considered real long term?

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RE: Family Financial Planning - 4/24/2005 8:49:26 AM

knees2you

Posts: 1129
Joined: 3/15/2004
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Terah,

I work for a Company called World Financial Group.
We help all kinds of people with Family planning!

You or anybody wishing to set something up can e~mail me at

[email protected]

Our company has been around for 30 years.

I Wish You well!

Sincerely, ant

(in reply to terah)

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RE: Family Financial Planning - 4/24/2005 9:12:16 AM

stormsfate

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Joined: 2/1/2005
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We haven't, because v has a primary partner and they have their own arrangements...as do we. Should the situation call for it, it would definately be something that would need to be explored. From my research, a FLP (family limited partnership) or even an LLP (limited liability partnership) would be a good scenario for a poly family.

best regards,
fate

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RE: Family Financial Planning - 4/28/2005 5:19:45 PM

ScooterTrash

Posts: 267
Joined: 1/24/2005
From: Indiana
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Yes, we have also. Actually our Daughter knows if anything happens to us it is up to her to take care of any subs living with us. We have discussed doing the "final plans" thing, but haven't got to that yet. Health insurance is always a problem though and is a tough one to get around, particularly if all don't work. Haven't thought about the "trust" thing but is not a bad idea.

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RE: Family Financial Planning - 5/14/2005 8:41:18 AM

SenorX

Posts: 142
Joined: 12/23/2004
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Amazing to see such an important topic receiving such little attention. I am glad to see this discussion, as Family Financial Planning is so very important... one of the most important plans you can make.... since it is dealing with the only real certainty in Life... Death.

I help alot of folks with their complete Financial Planning strategies... from Wills and Living Wills, to Powers of Attorney, to Insurance, to Investment Strategies, and so this is something that I feel is so ever important.

"I've heard it said that "People don't plan to fail, they just fail to plan, but in reality, if you fail to plan, you might as well plan to fail"

X

(in reply to ScooterTrash)

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RE: Family Financial Planning - 5/14/2005 9:55:49 AM

ShiftedJewel

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Joined: 12/2/2004
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quote:

Amazing to see such an important topic receiving such little attention. I am glad to see this discussion, as Family Financial Planning is so very important... one of the most important plans you can make.... since it is dealing with the only real certainty in Life... Death.

As Scooter stated, it is something we have thought a lot about. Our daughter is our sole heir, she is fully aware of our lifestyle and understands that should anything happen to us it would be her responsibility to see to it that any submissive under our collar would be taken care of. She is also aware that our home will be the submissives home as long as they need it to be and nothing is to be removed from our home as long as the submissive continues to live here. It is paid for and would not present no financial burden to our daughter.

Aside from that, we have discussed having the submissive work, hopefully with medical insurance, until such time that they have paid off any outstanding bills and set aside a good "nest egg" from which they could pay for independent medical insurance until they reach the age where medicaid would kick in as well as to have something to fall back on just in case. I also believe it is a good idea to own the burial plots before hand, funerals cost so much as it is.

In my opinion, age has nothing to do with financial planning for the future of submissives/slaves, as no one is guaranteed tomorrow.

Jewel

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RE: Family Financial Planning - 5/15/2005 9:21:34 PM

MsPurrmeow

Posts: 254
Joined: 10/30/2004
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Absolutely. we own property together, and have worked on our life insurance plans, retirement plans, IRA's, Wills, Living wills and Powers of Attorney. Ok, the POA's aren't final yet. They get signed later this week. We've been together a decade, and own everything under three names. We're going to work on the Trust thing in the next year. Right now that will cost us more to divide and get set up than it would be worth.

As for new arrivals, they are responsible for their own medical insurance and other personal expenses until things have settled, which is usually a year or so, then we'll work them all in together. We're looking forward to that other person, by the way, so we've kept our options open in all of our planning. We believe we must always be open-ended.

Purr

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RE: Family Financial Planning - 5/16/2005 12:13:33 PM

SenorX

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Joined: 12/23/2004
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check with your state and local laws regarding Wills, Living Wills, Trusts, General POA's and Healthcare POA's.

I had someone one time who came to Me showing Me a signed and notarized POA, yet I didn't accept it, since it had not been properly registered.

Also, most probate problems that arise when a Will is presented is when codicils are not properly executed.

Best Regards,

X

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RE: Family Financial Planning - 5/24/2005 5:56:51 AM

rufus1969

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Joined: 9/7/2004
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It is still a bit early for us to combine assets and debts. We already do combine income and expenses, but we wanted some more time together before taking the next step. We have discussed it though. At a future date and time, we will quite likely combine 90% of all resources, both to help protect us as well as provide for the children regardless of who their biological parents are--all of the adults are committed to all of the children. As a law student, I have and continue to read on solutions. So far, the Family Limited Partnership would be the ideal vehicle for us. Actually, with all of the political debates surrounding marriage, I have be curious why gay couples haven't turned to the Family Limited Partnership as a solution.

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RE: Family Financial Planning - 5/24/2005 6:28:22 AM

SweetDommes

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When I got my life insurance policy through my job, I put Holly as primary benificiary, and in case she wasn't around to collect, the two boys (this was during the time that we still thought baggage boy was moving in) as 50/50 secondary benificiaries. I'm sure that anyone who read the paperwork thought it was a bit strange ... but who cares. I will do the same when my benifits kick in at my next place, although at this point, there is no second boy, so it would all go to our current boy. We also have money set aside (not so much right now because we just bought him a car, but there is still some there) in case something should happen.

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RE: Family Financial Planning - 5/24/2005 8:58:43 AM

SenorX

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quote:

ORIGINAL: rufus1969

It is still a bit early for us to combine assets and debts. We already do combine income and expenses, but we wanted some more time together before taking the next step. We have discussed it though. At a future date and time, we will quite likely combine 90% of all resources, both to help protect us as well as provide for the children regardless of who their biological parents are--all of the adults are committed to all of the children. As a law student, I have and continue to read on solutions. So far, the Family Limited Partnership would be the ideal vehicle for us. Actually, with all of the political debates surrounding marriage, I have be curious why gay couples haven't turned to the Family Limited Partnership as a solution.

Excellent post, rufus! I can tell you have been doing some serious research in re this topic for yourselves. Here are some of My comments though, infra, that may or may not shed some additional light:

You may wish to check on a sub chapter L. The FLP's (Family Limited Partnerships) were quite fashionable in the latter 90's until the IRS made some changes whereby some of the tax benefits decimated. The corporation idea is still an excellent idea, but you may wish to check out some of the alternatives in establishing a corp for the family. In re the comment concerning gay couples, the major influence behind their desires to be able to marry (or at least be officially recognized as a legal spousal entity is in order for the corporate benefits to extend to the 'dependent' since most benefits only extend to dependents under 18, 23 if in college, or with a physical or mental disability which would prevent them from living independently).

There are various options available to those who have not formed a legal entity, namely a corp of some sort. One is to place the second or additional subs into a domestic category in re taxes, thereby allowing to claim deductions for allowances, etc. to a degree. Another is to start a small, home-based business of your own, pool that income together, take Schedule C deductions, etc. as merely a Schedule C filer. In so doing, you can take out franchise group health coverages (small group plans) under one name, open an account under the business name, start up some form of savings or retirement planning, and take out what would be known as 'key-man' insurance. The problem found herein is that when any kind of business sort of entity begins to offer benefits, then ERISA regs may become an element to consider, and it is imperative that accurate accounting and bookkeeping records be kept in case of any potential problems arising in the future.

If anybody reading this wishes to seriously figure out some beneficial avenues for financial planning, without the pressure of having to buy stocks, annuities, mutual funds, insurance, or other programs, feel free to contact Me. I have a consulting group whereby I and a few associates can help people formulate the best strategies for that individual purpose and do so legally without bucking or sneaking around the system, but rather using the established systems to their best benefits.

Best Regards,

X

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