On Apr 12, 5:31*am, trapped in tulsa <visibleunderwa...[at]gmail.comwrote:
- quote -

her children as beneficeries for whatever account she she puts it in.
She will have to pay taxes. Buying a house can provide a deductions.
Investing in index funds can be tax efficient.

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On 2008-04-12 03:31:33 -0700, trapped in tulsa
<visibleunderwater[at]gmail.com> said:

- quote -

If I were in your position (or your fiance's position), getting the
house would be my first priority and other investment would be my
second. I would make every effort to get by with the old car instead of
getting a new one. As for the investment portion, that "holding trust"
you mentioned raises all sorts of red flags and alarm bells, although I
know nothing about such a product. I would investigate things like
no-load mutual funds with low management fees, index funds, and
dividend reinvestment plans (DRIPs). I would make no final financial
decisions until the marriage ceremony has actually taken place. And all
this assumes that your credit card and any other debt is fully paid off
and that you have contributed the maximum to matching company pensions
and tax advantaged savings plans.



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On Apr 12, 3:31*am, trapped in tulsa <visibleunderwa...[at]gmail.comwrote:
- quote -


Are we talking about $70,000? there seems to be a lot of stuff you
are talking about with this amount of money. I think talking to an
accountant is a definite first step. Don't wait till the amount hits
your account.

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My finance is getting a a back-pay SSI settlement of nearly 70$
within the next few months. We have been discussing what exactly to
do with it to help it grow into more. Our high priorities are getting
a house, getting a new vehicle, then investing the rest in various
places.

I've heard some of my other friends talk about a "holding trust" to
place assets in. These will probably range from a interest bearing
savings account, an IRA, day trading stock fundings, part ownership in
a computer consulting company, and part ownership of a nightclub
venue.

I'm not sure if it's possible, but I would like to be able to put
everything under one separate entity, so we can have her as the
executor or such, and her two kids (15 and 14) as the beneficiaries.
We may work in some type of for-college investments, and trying to
turn over part of it into profit within three years.

Her biggest fear is getting caught up in taxes, or having too many
assets in her name and SSI freaking out.

Any suggestions or ideas? We live in Oklahoma, both age 34, if that
helps. We plan to talk to an accountant once the first lump some hits
our account, what should we have prepared hand to get the ball rolling?

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