Q & A w/One Who Knows #4 4/14/17

GURU HUNTER Posts : 16999 Join date : 2012-04-10

Exchanging For Someone Else & More Exchange Information

I got a question from "Truckdriver Wife" about her husband being on the road. Could she just exchange for the both of them? There are actually 4 answers to this question. I will also cover where you can get all the Official & Exact information you want (Your 5 Sources).

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First let me say thank you One Who Knows. Your contributions and help are invaluable. Thank you for what you do. At times you are the glue that holds things together.

I have a question about exchanging our ZIMs. My husband is an over the road trucker and only gets in a few days every month. It is never predictable or even certain that he actually gets in when planned as loads cancel and there are sometimes delays. I have the currency with me. Can I go ahead and do the exchange for us and then he can sign whatever he needs to sign when he comes in, or do we have to wait till he gets in to exchange? How would we even set up the appointment as it is not set in stone when he could be here? I know all is well and it will work out fine, but I just need your wisdom and advice. I am 65 and don't travel as well as I did a few years ago or handle things so easily. But we need to get the funds as soon as we can so we can get where we need to be and finally have our own home again. I am so grateful for this opportunity to finally pull our lives back together as all came crashing down in 2012 for us. We have great plans to help all we can with our blessing.

He also wants to know how he can get on the email list to be notified.

Signed, truckdriver wife

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Answer:

First thanks for this question because I think that there will be many people who will have similar circumstances.

Answer #1) The "Official" answer might be that you get a signed and notarized "Power of Attorney" to exchange his portion of the currency for him while he is a way. This is the most complex of the possible solutions as it involves attorneys and such. Frankly, I personally think that it is too late for this solution, since I think it is about to go, maybe today!

Answer #2) Another possibility, is to use the delayed appointment plan. Remember that the most important part of the Exchange Process is calling right away and getting in the system. They will make allowances for travel, medical, or other reasons like the one you have. That means that even though you called right away, like you should, you can set the actual physical appointment for a later, or a much later date. That might give you plenty of time for him to get back home. I expect that you can stretch it out quite a while, once you have made contact and are "in the system."

Answer #3) The next solution is since the one who has the currency "in Hand" (you), is the owner in a sense. They have complete control of it and absent any legal documents or agreements, are able to do whatever they like with the currency. This is how the Bank is going to look at this event. So you could just exchange all the currency yourself, and when it is put in the temporary trust, just place both your names on the trust. In this way, you will both have equal power over the money. If this sounds good to you, then you can and ask the bank to help you "Arrange It" that way when you are at your exchange.

Answer #4) The last answer for this situation is a variation of Answer #3, in that you exchange all the currency yourself and put it in a Trust, except you only put your name on the Trust, for now. This means that all the money is yours, at least for the moment. It is a bit less complex this way since you don't have to get into putting someone else on a trust at your first exchange appointment. However, after the exchange, when he is back in town, you can go to your second appointment with your Wealth Manager, and "Fix" things there. You could split it up then into two trusts or you could both be on the same trust or whatever way you want. It is my VERY strong feeling that by that time there will be NO income tax consequences. If that is the case, you could just give him half of the money and the matter is solved. That might be a good question to ask the exchanger in case he knows. They have been trained for years on what is to come.

The Bottom Line

The bottom line is that once this goes and is Live around the World, you will find out everything you need to know. You will get "Official" information and instructions. When you call in for your appointment, you will be able to ask all the questions you need to know about setting your appointment, what to bring, who can come with you etc. It will no longer be a matter of "guessing" it will be a matter of getting straight, exact, and official answers. You will have 5 "Levels" of information available to you that should cover anything and everything you want to know.

Level #1) The official information and instructions on the web sites and/or emailed to you. 800#s, appointment getting instructions etc.

Level #2) The first call in number. You will be able to ask a lot of questions at that time including what currencies you have, including Historical Bonds if you have them, and figuring out where the best exchange location is for you.

Level #3) The actual appointment location phone call. This is the call you make with the actual location you will be going to. You can get information on what to bring, directions on how to get there, who can come with you, etc. You can get a lot of very important information during this call.

Level #4) This is the information you get while you are at your exchange appointment. These bankers can answer lots of questions about temporary trusts, tax implications, rates, types of credit cards, no RFID cards, account types, cash in hand, send money by wires, getting cashier's checks, and many other things. This will be a wealth of information waiting to be tapped.

Level #5) This will be your greatest source of information, you appointment with your Wealth Manager. He will help you from now on to set up accounts, trusts, estate planning, setting up your families, whatever else you want to do. He will become your personal banker/advisor 24/7/365.

So don’t worry, you will have help and valid information all along your journey, once the GCR is a go.... and I am expecting that time to be VERY SOON!

May You Get Everything You Want and Live The Life Of Your Dreams/Plans

Signed: One Who Knows

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GURU HUNTER Posts : 2828 Join date : 2015-04-20

Here we go again with darn nonexistent 800#s again!