BD69: The Owner Operator Chronicles
Discussion in 'Ask An Owner Operator' started by Broke Down 69, Feb 5, 2018.
Page 116 of 158
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There has got to be more to the story. A truck should pay for itself AND pay a decent driver salary AND provide the business owner a reasonable profit.
What kind of house are we talking about here? A normal middle class home or are we talking a half million dollar home? I gotta be missing something.dunchues, intrepidor, Oxbow and 1 other person Thank this. -
I listed it at 479k.Vic Firth, intrepidor, Feedman and 2 others Thank this.
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And thats what I'm missing. Ty.
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The hardest part of any situation like this is keeping focus. You have a lot of history to deal with.
Vic Firth, daf105paccar, spyder7723 and 2 others Thank this. -
Saw this poor guy yesterday. He was on the onramp. Right as I drove by (very slowly) through the thick black smoke, one of his tires exploded! Scared the crap out of me LOL
Tug Toy, Broke Down 69, otterinthewater and 2 others Thank this. -
Can you clear enough equity in the home to pay the truck off? That would make Truck ownership a breeze with no payment
Broke Down 69 and Feedman Thank this. -
Pretty sure what he said was house needed to be sold in order to generate the money to pay for his dad's convalescent care, which is expensive.BoostedTeg, Vic Firth and Broke Down 69 Thank this.
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Correct, and all the money generated by the sale of assets goes into escrow to pay his medical expenses, otherwise it would be subject to capital gains taxation. Any money left after he passes then becomes distributable to his heirs, i.e. my sister and me. I spoke to Dad today, it was one of his better days, and he seems to know that the end is coming and we discussed his funeral wishes. That's a conversation I wouldn't wish on anyone, but it had to be talked through. So I've had a pretty busy but productive day.
More later...Panhandle flash, Vic Firth, BoostedTeg and 4 others Thank this. -
My son-in law's grandma, without legal counsel, essentially signed away the farm to Medicare because she put her husband in their convalescent in home care program.
A "nice" representative from the government came by one day and had her sign several documents while none of children or grandchildren were children.
They found out after the fact...
This stuff is excruciating and tedious to deal with, however, if there are any assets whatsoever involved, it has to be done right or everyone loses in the end, except the tax man.dwells40, Vic Firth, BoostedTeg and 2 others Thank this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 116 of 158