I went to Emporia late morning to attempt to cash a Series EE saving bond that Max had. I got my grandmother’s death certificate as her name is also on the bond. Unfortunately the bank cannot cash a bond in the name of a deceased recipient. They gave me the paperwork I have to fill out to mail in. I need to have it notarized and need to make sure I don’t have to have all my siblings sign off and be notarized too. Not sure all this is worth $115. I have already spent $35 to get my grandmother’s death certificate.
I figured out a way to transfer the rental house to Jason without tax and legal restrictions on how he pays it off. I called my accountant to get details and my plan will work from a tax perspective. I am going to talk to my attorney tomorrow to get the paperwork started. I don’t think it will take too long. Jason and I will have to go to KC to sign papers but we can do that. We just have to find a time when he doesn’t have clients already booked.
My goal this year is to get rid of all my rental properties so this is the last year that I have to file tax returns for Kay Krause 2, LLC. The rentals have been good tax deductions but I don’t like the not knowing how much they might cash flow due to maintenance and repair issues. I’m ready to simplify everything and make doing my taxes something I can do.
I signed the contract to put a new roof and new guttering on the house that I am selling. Given the current market I don’t think the new buyer could get insurance on it as the roof needs replaced. It will look much better with new guttering too. Prices for new roofs have increased about 35% since I did Jason’s house last year. Yikes! This house is smaller than Jason’s house but cost 35% more to roof.
This rental house has been on the market for over 30 days now and no nibbles or bids. The market has come to a halt. It is in the lower range on the market and am a bit surprised I haven’t gotten a low ball offer on it. Maybe the new roof and guttering will help.
Nothing on the calendar for tomorrow. I will need to get the saving bonds forms filled out and track down a notary so I can get those in the mail. I need to call the bank Max used to make sure they got the forms I mailed them and see if they have made a decision about closing out his account. I thought they said they would call me when they got the forms but haven’t heard from them yet. With the way the mail is these days it is possible the forms haven’t arrived there yet.
Not sure how the idea of how to transfer the house to Jason came to me but am grateful it did. Owner financing was way more complicated than I anticipated and felt too risky for Jason and carried 15 – 20 years of tax liability for me. I’m grateful my attorney didn’t call me back yesterday as it gave me more time to figure another way. Again I am reminded that the Universe has my back as long as I am patient and allows things to unfold on the Universe timetable and not mine.
The quiet felt comfortable and comforting to me today. Some days I sit in resistance to it and some days I allow it to nurture me. Today was a nurture day. Guess I have to sit in both sides of the range to appreciate the easier ones. It reminds me to be more conscious of other ranges I sit in and to push the self-limitations I tend to impose on myself.
Grateful for a solution to transferring ownership of Jason’s house, grateful for a day of ease, and grateful for the range of emotions I can play with.