Jeff...that is all generally true, but do you really think it applies
to someone who spends all his time crowing about his stereo and the
boat his "wife" owns? Bob is hoping to crack the "five figure" net
worth barrier at some point. It is looking more and more apparent
that Bob has a rather checkered credit history. When people want
assets in their spouses names, it is usually because of creditors
lurking about in hopes of getting paid. Bob said "he bought the car
and she bought the boat." Big surprise. A car is usually exempt from
the claims of creditors whereas a boat would not be exempt.

I really don't think "estate planning" was the reason that Suzzy
bought the boat and it is in her name, but in any event, it is nice
that Bob has a boat to sail on, even if it is not his

On Wed, 9 Jul 2003 10:27:14 -0400, "Jeff Morris"
jeffmo@NoSpam-sv-lokiDOTcom wrote:

Each person receives an exemption - it was $600,000 and is now $1,000,000. (It actually
ramps up to 3.5 mil, then drops back to 1 mil in 2011, I think.) If all the assets are
in one person's name, the other effectively waives this exemption. This blunder could cost
your heirs a million bucks or more.

However, I'm sure Suzzy's lawyers are feeding you this nonsense about "tax profiles" to
save her a bundle of money.


"Bobsprit" wrote in message
...
However, when you get older and (God forbid!) have children, you may start to
think of
estate transfer. In that case the issues are different, and it becomes
important to
balance holdings, and to set up trust funds to maximize the amount that stays
in the
family.

You clearly know very little about estate transfers. By splitting the holdings
you pay far more in taxes if a transfer is made. You also fail to realize that
financial history comes into play. Suzzy's is perfect. Mine is not.

RB

but in any event, it is nice
that Bob has a boat to sail on, even if it is not his

Yup...and a nicer one coming very soon!

RB

It must be awful to sail a boat you're unhappy with.

Your situation is truly sad.

SV

"Bobsprit" wrote

Yup...and a nicer one coming very soon!

RB

Nutsy,

No need for a phony photo, like the mooring shackle, If you have a
documented certificate we can check with the CG.

Nutsy, once again you've become a hooked fish in your own troll.

As OZ says; "You're Nuts!"

Ole Thom

It must be awful to sail a boat you're unhappy with.

It's called evolution, my poor little Scotty. You move sideways. I move up to
bigger and nicer boats. I like each one, yet can still be open minded and look
forward to the next.
That's what irks you so. I have a future. And yours is already spent with
meager results.
I'm sorry for you, but I suspect you've done it to yourself.

RB

Completely false. A builders certificate is IN LIEU of a title. There
is no title until the first person who buys the boat obtains one,

Uh, bill. Snap out of it. Does my C&C 32 built in 1980 have a title??

Duhhhh!

RB

If the boat is yours, then that would mean you could legally sell it
without anyone's signature other than your own.

Suzzy cannot legally sell the boat without me. I "own" a house in Brooklyn. I
can no longer sell it or any major assett without her approval. In a divorce,
she could challenge and win.
You know nothing about the law.

RB

You have painted yourself into the
corner.

You claimed:

My C&C was never documented.
And that we had not filed for new documentation under the new name.
Are you ready to admit you were wrong.

RB

Please explain how my sister-in-law took my brother's IRA and deposited the
whole balance of it in a new bank account in her name alone.
Face it, you don't own anything.
--
----
Steve
S/V Pony Express

"Bobsprit" wrote in message
...

Suzzy cannot legally sell the boat without me. I "own" a house in
Brooklyn. I
can no longer sell it or any major assett without her approval. In a
divorce,
she could challenge and win.
You know nothing about the law.

RB

When people want
assets in their spouses names, it is usually because of creditors
lurking about in hopes of getting paid. Bob said "he bought the car
and she bought the boat." Big surprise. A car is usually exempt from
the claims of creditors whereas a boat would not be exempt.

Not 100% untrue. Luxury items in my name would be dangerous for me at present.
I'm in the middle of an estate audit due to a recent death.
Since most of you have no real money and none to inherit you know nothing of
this or what flags the IRS systems.

RB