This morning I got a call from my Broker in regard to a Corporate Bond I bought a couple of years ago. It is with Citi Group for $5,000. It hasn't been worth that since I bought it at a premium. It HAS paid regular dividends so I haven't worried to much about it. Now the outfit wants to convert the value to shares. I told Darlene to just cash it in and transfer to funds to my bank account with Valley Federal Credit Union. I had just been in the Office to talk with her earlier this week to make arrangements for dividends from several municipal bonds to be transferred to the account, and to make sure that when I am "gone" that any funds remaining in my IRA will be transferred to the Jim and Betty Taylor Scholarship Endowment at Rocky Mountain College. We established that before Betty's death as an Annuity from which I get a quarterly check. It will become an unrestricted scholarship fund at my own death. The dividends from the Munis will pretty much take care of property taxes in the years to come. As they come due the children will receive the value in order of age and due date.
As I suggested to someone the other day: Now that I've taken care of everything in case of death I'll probably live another 10 years. I see my primary care physician next week. I'll check with him about that.
Thursday, October 22, 2009
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3 comments:
10 Years at least. Long term investments mean you have to live long enough to reap the benefits.
Uncle Jim... in the fundraising world - particularly the planned giving part - we joke that if someone wants to live forever all they have to do is create a life-income agreement type gift (as you did)... do that and you live forever, in more ways than one! Glad to know you have made arrangements for a scholarship at Rocky. Trudy and I have done the same (with different deferred giving arrangements) at A-B to create a scholarship in my folks name.
I can live with you being around for another 10 years or more!
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