Dazed & Confused????

I gifted my Mom/Dad, & brother 100,000 dinar each. my question is this: "when I make the appointments, why can't I be present for their appts, because they generally are relying on me to help them get through setting up the first 3 accounts.

1) original deposit,

2) original deposit swept into acct #2, closing acct #1. 3) putting half of acct #2, into acct #3, for taxes (possibly for 3 years, interest bearing or premier acct)???? Also, my Dad isn't able to travel very far distances, due to several back & neck surgeries, (not planning on exchanging locally, as we are too well known, planning on an 85 mile trip there),  so will Mom be able to set up a joint account, without him being there? She does this when she switches banks locally?

Thanks in advance, for all answers/help. Yes, I know bring an attorney, but I do not have the money currently to hire an attorney. Now what? I have just Dinar. Well, a lot of different currencies because of my job/travel, but not enough to become a millionaire, or hire an attorney, (I think).... Georgia....

I don't beleive there will be 800 numbers, or any of that other stuff. This will be a simple foreign currency exchange, nothing more, nothing less. When the value changes, bring your currency to the bank, and cash in your IQD. There will be taxes I expect, how much depends on the amount you have and whether it is considered income or capital gains, and if capital gains whether you have held it long enough for it to be considered long term gains. Check with a tax consultant or CPA regarding that.

Notice I stated that IMO opinion this will be a simple foreign currency exchange. So then by definition it will be able to be done at any bank with a foreign currency department. All this stuff about multiple accounts is also IMO a lot of hype and hoopla. Put in in one account to start with and then find a good Financial Adviser you are comfortable with and work with him or her to find investments that will best meet your needs and desires. Now to be clear, there is no such thing as a risk free investment. You and your adviser will have to work together to determine what sort of risks you are comfortable with and balance that against the returns you need to have, tax strategies, etc. There are a lot of tools that can be utilized, Universal Life Insurance, Annuities, IRAs and Roth IRAs, trusts, charitable remainder trusts, mutual funds, tax free bonds, and on and on. As an insurance professional, I can tell you that a properly structured UL can be a great tool for passing on wealth, future income and tax avoidance. Roth IRAs can also be a great tool, you'll pay taxes now, but avoid taxes on the gains when you take it out. Annuities can also provide for tax deferral on the gains. There is of course a lot more to it than that, but it would take books to explain it all.

Not sure why you would want to take a lawyer, you really do not need one for a simple currency exchange, and there will be no NDA to be examined, so why incur the additional expense? In summation, relax, enjoy the ride, and don't listen to the guruspeak.

did you say dazed and confused?

Every day I work so hard
Bringin' home my hard earned pay
Try to love you baby, but you push me away

Don't know where you're goin'
Only know just where you've been
Sweet little baby, I want you again

Been dazed and confused for so long, it's not true
Wanted a woman, never bargained for you
Take it easy baby, let them say what they will
Will your tongue wag so much when I send you the bill

kevin is probably right about the 800 numbers i would not trust one word out of the gurus mouth they have never been remotely correct.  according to my fa it should be considered capital gains  and most important is a excellent cpa and a tax attorney i have both ready

NO such thing as a 800 # beside the Sex lines okie and tony use. If there is currency that can be exchanged, EVERY bank in the world that deals in MONEY will exchange it. 800 numbers are used for the gullible to keep coming back to their sites. PERIOD !!

Guru Debunker wrote:NO such thing as a 800 # beside the Sex lines okie and tony use. If there is currency that can be exchanged, EVERY bank in the world that deals in MONEY will exchange it. 800 numbers are used for the gullible to keep coming back to their sites. PERIOD !!

AGREED !!  Just another tidbit added by hooroos to keep the sheepie  hooked and to   not focus on reality !!


 

Guru Debunker wrote:NO such thing as a 800 # beside the Sex lines okie and tony use. If there is currency that can be exchanged, EVERY bank in the world that deals in MONEY will exchange it. 800 numbers are used for the gullible to keep coming back to their sites. PERIOD !!

No those are 900 numbers I think ...

Kevind53 wrote:

Guru Debunker wrote:NO such thing as a 800 # beside the Sex lines okie and tony use. If there is currency that can be exchanged, EVERY bank in the world that deals in MONEY will exchange it. 800 numbers are used for the gullible to keep coming back to their sites. PERIOD !!

No those are 900 numbers I think ...

EXCELLENT THERE KEVIN !!!