ArchietheDragon
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Post by ArchietheDragon on Oct 12, 2015 12:38:04 GMT -5
He doesn't HAVE any problems. It is problems created for him because of the $10K limit. He ate free food to save it up! From food banks. Legal - shmegal... He won't get arrested - the money just gets reported. Nothing else. He is creating his own problems. Also, don't deny it. You are one of us.
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Blonde Granny
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Post by Blonde Granny on Oct 12, 2015 12:39:32 GMT -5
OK Loonya, you can snarl all you want to but things are not what they were before 9-11 happened. Then the Patriotic Act was passed and we lost even more privacy due to new laws.
Having large amounts of cash on your person causes 3 things that can happen and none of them are good:
Too much cash can be considered drug money. The cash is confiscated and you'll end up filing a lawsuit and IF you're lucky, you might get part of that $25K dollars back in 10 years.
Too much cash can be considered that you are laundering money by depositing consistent cash deposits into a bank account, whether or not the amounts are less than $10K. Oops, enter the Feds and you'll likely have to file a lawsuit to attempt to get your money back. Good luck with that.
Too much cash on your person or depositing cash (even if it is less than $10K) can be considered working under the table, not paying taxes on that money, ohhh, and maybe you or another person is charged with tax fraud or something else equally bad. You'll probably have to file a law suit to attempt to get your money back.
Old Uncle Joe or Grandpa Joe has caused his own problems, don't become an accessory to any of the problems I listed above.
But what the devil do I know? Nothing much, you're the smart one who doesn't like any of our answers.
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MJ2.0
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Post by MJ2.0 on Oct 12, 2015 12:41:38 GMT -5
If everything is on the up and up, then he should have no problem going through the necessary legal channels to access this money. But he prefers not to for whatever reason. I still think a person should be able to do whatever they want as long as it's legal. Once again our illustrious gov't seems to think that they need to nose into every facet of our lives. You can thank organized crime and mobsters for the $10k rule. It's usually people who take advantage of the system that create the need for these regulations.
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ArchietheDragon
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Post by ArchietheDragon on Oct 12, 2015 12:46:26 GMT -5
First they came for the drug lords and I did nothing because I was not a drug lord Then they came for the sex traffickers and I did nothing because I was not a sex trafficker Then they came for the mob lords and I did nothing because I was not a mob lord Then they came for the money launderers and I did nothing because I was not a money launderer Then they came for the old stubborn men and I did nothing because I was not an old stubborn man Then I became an old stubborn man and there was no one left to do anything about it.
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tloonya
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Post by tloonya on Oct 12, 2015 12:53:47 GMT -5
He doesn't HAVE any problems. It is problems created for him because of the $10K limit. He ate free food to save it up! From food banks. Legal - shmegal... He won't get arrested - the money just gets reported. Nothing else. He is creating his own problems. So you said this and granny just said that! So why is correct? And what about presumption of innocence? Why is anyone supposed to prove they aren't mobsters?
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MJ2.0
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Post by MJ2.0 on Oct 12, 2015 12:58:59 GMT -5
He won't get arrested - the money just gets reported. Nothing else. He is creating his own problems. So you said this and granny just said that! So why is correct? And what about presumption of innocence? Why is anyone supposed to prove they aren't mobsters? My scenario: money gets reported and no one gets in trouble BG's scenario: you get in trouble for trying to smuggle cash on your person Do you see the subtle difference between the two?
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tloonya
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Post by tloonya on Oct 12, 2015 13:50:42 GMT -5
So you said this and granny just said that! So why is correct? And what about presumption of innocence? Why is anyone supposed to prove they aren't mobsters? My scenario: money gets reported and no one gets in trouble BG's scenario: you get in trouble for trying to smuggle cash on your person Do you see the subtle difference between the two? Its not subtle. Its huge!
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Post by The Walk of the Penguin Mich on Oct 12, 2015 13:57:52 GMT -5
<< And even more...we had just found out about it yesterday, and today is Columbus day when all post offices and banks are CLOSED!!!>> So do it tomorrow. Why did it have to be done today? He's had the money for twenty-five years...what's one more day of waiting going to change? PLAIN TICKET BOUGHT FOR TOMORROW! Imagine that! Whose name is the ticket purchased under? If it's under your DH's name, he's going to have to fly himself.
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Deleted
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Post by Deleted on Oct 12, 2015 13:59:17 GMT -5
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tloonya
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Post by tloonya on Oct 12, 2015 13:59:02 GMT -5
PLAIN TICKET BOUGHT FOR TOMORROW! Imagine that! Whose name is the ticket purchased under? If it's under your DH's name, he's going to have to fly himself. Are you saying this because you are assuming I bought a ticket for my husband under MY name?
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Post by The Walk of the Penguin Mich on Oct 12, 2015 14:01:27 GMT -5
Whose name is the ticket purchased under? If it's under your DH's name, he's going to have to fly himself. Are you saying this because you are assuming I bought a ticket for my husband under MY name? I'm not assuming anything. That is why I asked you whose name the ticket was purchased under.
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Deleted
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Post by Deleted on Oct 12, 2015 14:05:08 GMT -5
If you already have the plane ticket and were planning on flying out to get the money why ask the question about mailing it?
I wouldn't put more than $50 in the US Mail. 25K cash? NO WAY IN HELL!
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tloonya
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Post by tloonya on Oct 12, 2015 14:06:34 GMT -5
Are you saying this because you are assuming I bought a ticket for my husband under MY name? I'm not assuming anything. That is why I asked you whose name the ticket was purchased under. I said my husband is flying. You asked under who's name is ticket? So you though I technically could buy it under my name? So you think I am that stupid? Why else would anyone ask under who's name ticket? Just curious, no problem.
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Post by The Walk of the Penguin Mich on Oct 12, 2015 14:08:38 GMT -5
I'm not assuming anything. That is why I asked you whose name the ticket was purchased under. I said my husband is flying. You asked under who's name is ticket? So you though I technically could buy it under my name? So you think I am that stupid? Why else would anyone ask under who's name ticket? Just curious, no problem. No, you said that your husband did not want to fly and the suggestion was made that you fly. You didn't say WHEN the ticket was purchased, nor did you say for whom you purchased the ticket. Here's what you wrote: My FIL stashed away some money and wants my husband to come and get it because he isn't feeling well and at 85 he keeps talking about passing.
So my husband has sciatica and can't travel. It is 6 hours flight.So my husband has sciatica and can't travel. It is 6 hours flight.So if your husband can't travel, it's logical to assume that the plane ticket was purchased for someone else.
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tloonya
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Post by tloonya on Oct 12, 2015 14:08:17 GMT -5
If you already have the plane ticket and were planning on flying out to get the money why ask the question about mailing it? I wouldn't put more than $50 in the US Mail. 25K cash? NO WAY IN HELL! I had purchased an insurance so I COULD CANCELL the ticket which I bough apparently for my husband under my name!!! And as I said I was thinking how to avoid him flying! So mail entered my thoughts. Have I answered it all for you dear?
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joemilitary
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Post by joemilitary on Oct 12, 2015 14:12:12 GMT -5
Invest it in an expensive comic book for $25,000 (or some other collectible easily transportable that TSA probably won't notice). Take it through TSA. They won't question it. Then sell it when you are back home.
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joemilitary
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Post by joemilitary on Oct 12, 2015 14:13:51 GMT -5
I love Loony's threads BTW
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Deleted
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Post by Deleted on Oct 12, 2015 14:15:47 GMT -5
If you already have the plane ticket and were planning on flying out to get the money why ask the question about mailing it? I wouldn't put more than $50 in the US Mail. 25K cash? NO WAY IN HELL! I had purchased an insurance so I COULD CANCELL the ticket which I bough apparently for my husband under my name!!! And as I said I was thinking how to avoid him flying! So mail entered my thoughts. Have I answered it all for you dear? Nope. You haven't even scratched the surface on answering all the questions I have for/about you Loony.
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tloonya
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Post by tloonya on Oct 12, 2015 14:15:50 GMT -5
I said my husband is flying. You asked under who's name is ticket? So you though I technically could buy it under my name? So you think I am that stupid? Why else would anyone ask under who's name ticket? Just curious, no problem. No, you said that your husband did not want to fly and the suggestion was made that you fly. You didn't say WHEN the ticket was purchased, nor did you say for whom you purchased the ticket. Here's what you wrote: My FIL stashed away some money and wants my husband to come and get it because he isn't feeling well and at 85 he keeps talking about passing.
So my husband has sciatica and can't travel. It is 6 hours flight.So my husband has sciatica and can't travel. It is 6 hours flight.So if your husband can't travel, it's logical to assume that the plane ticket was purchased for someone else. Oh I got it now. Thanks for the explanation
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tloonya
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Post by tloonya on Oct 12, 2015 14:17:20 GMT -5
I had purchased an insurance so I COULD CANCELL the ticket which I bough apparently for my husband under my name!!! And as I said I was thinking how to avoid him flying! So mail entered my thoughts. Have I answered it all for you dear? Nope. You haven't even scratched the surface on answering all the questions I have for/about you Loony. Lets start scratching. Do you want a new thread for it or will use old one?
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tloonya
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Post by tloonya on Oct 12, 2015 14:18:17 GMT -5
I love Loony's threads BTW
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joemilitary
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Post by joemilitary on Oct 12, 2015 14:22:42 GMT -5
By "threads" I meant your clothes silly
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Deleted
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Post by Deleted on Oct 12, 2015 14:24:18 GMT -5
Nope. You haven't even scratched the surface on answering all the questions I have for/about you Loony. Lets start scratching. Do you want a new thread for it or will use old one? No. I value my sanity.
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Peace Of Mind
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Post by Peace Of Mind on Oct 12, 2015 14:41:37 GMT -5
Perfect. Thanks. I KNEW someone will do it. Once you fly there, what you might want to do is to buy a series of $9K money orders before you get onto the plane to come back. I would not carry that much cash on me, and MO's can pretty much go undetected in your wallet. Except I'd insure it. I'd cry if I lost that amount of money! Personally, I would not get involved in any way except making some suggestions of what he/they can do on his own. If I had to travel with the money I'd purchase Travelers Checks or Cashiers Checks.
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mroped
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Post by mroped on Oct 12, 2015 15:03:07 GMT -5
I don't believe that the actual problem is moving the money. The causal problem is some type of fear of repercussion "if!" So, for a bank transfer-ID required For MO- I believe an ID will be required to purchase them Western Union- ID required Flight- can't have more than $10k on you when you board the plane. You can actually but you have to explain it. Under $10k, no questions asked. At the end what we have left is nothing. Except maybe the little bity paranoia about IDs and explanations? There is no law against saving money. If he saved it while he worked or out of his SS is equally irrelevant. At his age, I doubt anyone would care about the $25k cash or how he obtained it. Unless ofcourse he shows up at the bank with $25k in a bag and a pistol in hand or bloody hands.
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gooddecisions
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Post by gooddecisions on Oct 12, 2015 15:30:09 GMT -5
I think I'd rather take my chances with a bank than the mail. The over 10K reporting requirement is just so the feds can track illegal activity like money laundering and funding terrorist activities. If FIL is not or has not done anything illegal, then who cares if the bank fills out that form. If you try to deposit less than 10K over the course of a few deposits to avoid the over 10K reporting requirement, you'll likely have a suspicious transaction form filed without you knowing. Then you could be busted for structuring and the funds seized.
If it were me, I'd open the account with $25K and then gift $12,500 this year and $12,500 next year. That way the recipient won't need to pay gift taxes and FIL hasn't broken any laws.
Good luck, let us know how flying there, getting the money and flying back works out.
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Oct 12, 2015 16:39:26 GMT -5
Hey Loony you told us you're going to be flying with $25k in cash and your other thread says you'll be on Delta airlines.
Mind giving me a time and location?
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zibazinski
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Post by zibazinski on Oct 12, 2015 16:48:18 GMT -5
DH mailed cash all the time overnight priority mail. None ever got lost or stolen.
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Deleted
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Post by Deleted on Oct 12, 2015 16:51:13 GMT -5
DH mailed cash all the time overnight priority mail. None ever got lost or stolen. Did he ever mail the equivalent of his life savings in cash though? This is 25 years of squirreling away.
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Abby Normal
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Post by Abby Normal on Oct 12, 2015 17:13:41 GMT -5
Can't grandpa just deposit the money into the daughters account through a local branch? As long as he has her account number and does it in a couple deposits (to avoid the IRS reporting if he's that weird about it), it shouldn't be an issue. Heck, Daughter can just mail some deposit slips to him.
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