[m-w] Thanks!

  • From: "Michael R. Martin" <drsewnsew@xxxxxxxxxxx>
  • To: <m-w@xxxxxxxxxxxxx>
  • Date: Tue, 5 May 2009 21:25:48 -0500

I realize there is some confusion over the resent checks. I'll try to splain it 
as best I can. 

The annuity was started in December of 2007, and went into effect in January of 
2008. As best I can determine all "Fees and final costs" were waived and a 
check was made to me for the entire amount of $36,395.26 less 30% withholding 
for a final amount of $25,476.68 divided by 6 = $4,246.11 to each. I am 
responsible for all the taxes on the entire amount as reported to the IRS, and 
will receive that on a 1099-R form next year,  This is why I had them withhold 
the rest for taxes. I realize my CPA isn't the best, but she works cheap and 
knows enough people in that line to help us when needed. There may be another 
small amount later, when Mom's final tax return is filed and mine as well. More 
on that later.


That brings up the will. I turned it over to a qualified lawyer who has had 
some personal health issues, what with emergency bypass surgery two days after 
I met with him for lunch. He's back on a limited basis this week and we should 
hear something soon. There may be another policy from I.O.Foresters, but I 
can't find out till the will is probated. That may be where the rest of what we 
talked about, and why the numbers don't seam to match up to expectations. 


The house. I've collected a market analyses and appraisal and we're looking at 
$160,000.00 as a basis for any future transactions. We've all had time to think 
about it and we need to get on with it. As I stated before, the timing isn't 
right to sell it. The lawyer is looking into what the proper method to get the 
most bang for each of us might be. I also have several Real Estate and Finance 
people checking into what the best way to go might be best. It all takes time 
and patience to sort it all out. I think we all agreed to wait till June to 
make the final call, and I still believe we should wait till then.


I hope this helps with the confusion.


Michael R. Martin 


Date: Mon, 4 May 2009 14:05:32 -0600
Subject: [m-w] Thanks!
From: kathi.pieper@xxxxxxxxx
To: m-w@xxxxxxxxxxxxx

Hello All!
I just wanted to let you know that I received my check today for $4246.11.  
Thanks much!
I have to say, I am a little curious how the dollar amount was determined - can 
you provide some detail?  I thought Mom had approx $50,000 in the CD - don't 
see how this netted to $4246.11 each when that equals $25,476.66.
I also would like to know what is going on with the house.  I asked once before 
and only received a reply from Dan.  Mike - could you please let us know what 
is going on with the house?
Thanks again - I know this has been a headache.
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