Recently @yogibearbull linked in 'off topic', an estate planning article he wrote for a news publication.
Considering the vast knowledge and experience here, this topic deserves a full overview here; for the benefit of all involved in our lives.
I'll place next, the text of a Word document we produced about 25 years ago. This document has had many adds over the years.
-----
PERSONAL INFO FOR (NAMES)
UPDATED/EFFECTIVE DATE = XXXXXXXXXX
NOTE !!!!!   The below listings would be used in conjunction with any of the following legal forms that should be established for and by you for yourself and family members:
WILL, TRUST (there are many trust styles; i.e., revocable living trust, irrevocable, etc.) https://store.kiplinger.com/family_records_organizer_download.html GENERAL POWER OF ATTORNEY, DURABLE POWER OF ATTORNEY FOR PROPERTY AND MONIES, LIVING WILL AND/OR DURABLE POWER OF ATTORNEY FOR HEALTH CARE and HIPAA authorization and release form (allowing release of pertinent private medical information to authorized persons)
SOCIAL SECURITY NUMBERS:
*** full legal name, ssn#
DRIVER LICENSE #’S:
*** full legal name
HEALTH/DENTAL INSURANCE; names, policy type & numbers, contact phone #’s
MEDICARE, MEDICAID OR OTHER FEDERAL OR STATE RELATED
***relative information for any of these or related documents/forms
CREDIT CARDS:
*** issuers, card numbers, their phone #’s, etc.
      
INSURANCE POLICIES:
-home 
-auto
-life
-other
ELECTRONIC DEVICES UNLOCKS:   passwords, keypad method, thumb, facial or voice
RECIPIENT/BENEFICIARY MONIES FROM OTHERS OR A BUSINESS:
-are you listed in someone’s will/trust/business agreement that should be documented here? Is someone your beneficiary and needs to made aware of this?
PERSONAL AND REAL PROPERTY:
-real estate, cars, and personal property (collections, artwork, boats, jet skis and anything else one considers that others need to be aware of.
ALSO indicate as to what property is PAID IN FULL and OWNED
LIABILITIES:
-home mortgage
-home equity loans
-auto loans
-all other monies owed to a third party
* provide all pertinent information regarding these liabilities: what, where, who, etc.
PERSONAL RETIREMENT ACCOUNTS:
401K, 403B, 457, IRA’S, COMPANY PENSION PLAN:    
*vested company pension plans may be set with a spousal/beneficiary statement
CHILD/CHILDREN ACCTS (EDUCATIONAL, 529, SAVINGS, ETC.):
ANNUITIES:
BROKERAGE/STOCK/MUTUAL FUND ACCTS:
Note: contact info…phone numbers, acct numbers, login info, etc.
CHECKING/SAVING ACCOUNTS: organization, acct. #’s, contact names/phone #’s
Note: whose names are on the accounts???
SAFE DEPOSIT BOX: location & box number
NOTE…..who has a signed contract for access and who has a key
PASSWORDS:  home pc, pc documents, all online accounts; which may require security questions ansers and/or two factor verify with the code being sent via email or a cell phone number
DOCUMENTS LOCATION (physical  papers, etc.):
NOTE……indicate where these “original” documents are located
-check book, payment books (house payment, home equity, etc.)
-will, trust, power of attorney, living/medical will, guardianship (child)
-house deed/title
-auto titles
-cemetery plot/ownership documents
-IRS/State, previous tax years filings
-passports
-birth, marriage & related documents
-business/work required license
PHYSICIAN/DENTIST & related:
-preferred medical doctors and facility, all phone numbers and related
-daily medications list
-drug allergies
-allergies
-blood type
-immunizations
-brief medical history
EMPLOYER CONTACT INFO:
-this would include pension plan contact information
-local contact info, names and phone numbers
-human resources
-coworkers
CHILD’S SCHOOL & RELATED CONTACT INFO:
FAMILY/FRIEND CONTACT INFO (email, phone/mailing address):
CPA, ATTORNEY & related:
MEMBERSHIPS, SUBSCRIPTIONS (publications, societies, etc.):
LIST OF USUAL MONTHLY BILLS  (phone, utilities, cable tv, etc.)
-WHEN and how are recurring payments made? Electronic or paper check
PETS (local vet contact info):
-deposition of  pet(s), upon owner impairment or death
GENERAL COMMENTS & INSTRUCTIONS related to this info listing:
******** As to the list above, one may copy and paste into a Word document as a starting document to build upon.
As expected, some areas will need to updated as needed. ALSO, the CAPS in the document I've set in BOLD, and some line items are in RED. An example(s) would be Medicare numbers changed several years ago. Most VISA and DEBIT card numbers expire every 4 years. We've had to add doctors info and medications taken (it's an age thing). We have a separate list for common recurring payments. Some are with VISA, ACH via the checking acct. and few random payments; one being a once a year payment for an inflation protected insurance policy for a high end musical instrument. This payment request arrives, in the mail, every May. We decide how to pay at that time. Also, our local real estate taxes and water/sewers bills are always sent in the mail. There isn't a payment plan that may be set.
Our Word document is password protected in a laptop, has thumb drive backup and paper copies. Your storage methods may vary; but those who need to be aware of this information need to know this, too.
An example of what may help you with gaining more knowledge are YouTube finds. This will provide an example for TOD/POD set ups.
Ok for now. I'm ready for a nap on this hot and humid day in Michigan. I plan to add more at a later time.
Share your experiences and suggestions with all things for 'estate planning'.
Thank you.
Remain curious,
Catch

@stillers
The following was found by a quick Google search, and is a direct copy-paste. The statistics from prior to MRFOX’s existence are reflective of the Marshfield Equity Composite, which is a non-publicly available portfolio run by these same people. This is what is done by MANY funds, portfolio advisors, etc., especially of new funds (PRCFX is an example, I believe, as Giroux ran a portfolio for SMAs in a manner similar to this new fund); they quote returns of their portfolios prior to the existence of said mutual fund(s).
“Marshfield Associates is a concentrated, long-only value investment adviser established in 1989. Located on Washington, DC’s Dupont Circle, the firm offers separately managed accounts and a mutual fund, the Marshfield Concentrated Opportunity Fund. It serves both institutional and private investors.
Marshfield is owned by its seven principals who have an average tenure of 23 years. Each principal must invest in the same stocks that Marshfield buys for its clients and may own no other publicly traded equities.”
https://www.marshfieldinc.com/about-us/

Positive vibes on this fund is for a couple reasons. Long term record going back 30 years with same strat is outstanding vs sp500. Up/ downside not even close. Very experienced fund MGMT, not just one star manager. Doesn't hold any of the glamour tech stocks
...
Baseball fan

What do you mean by "Positive vibes on this fund is for a couple reasons. Long term record going back 30 years..."
This fund's Inception Date is 12/28/15.
https://marshfieldfunds.com/fund-facts/
Excerpt:
1 Year 3 Year* 5 Year* Since Inception (12/28/15)*
https://www.morningstar.com/funds/xnas/mrfox/people
Excerpt:
Management Team
Elise J. Hoffmann
Dec 29, 2015–Present
Christopher M. Niemczewski
Dec 29, 2015–Present
Chad Goldberg
Dec 29, 2022–Present

Sorry about that. The main item I wanted to share was the quote at the bottom of the page of this link. I've copied and pasted the quote here as well.
"Marshfield is owned by its eight principals who have an average tenure of 23 years. Each principal must invest in the same stocks that Marshfield buys for its clients and may own no other publicly traded equities."
https://www.marshfieldinc.com/about-us/

I held 3 funds most of the years between 2000-10...FAIRX,SGIIX,OAKBX because the SP500 was not good (it lost money for 10 years). In 2010, I replaced the above funds with US LC tilting growth. So, I want to thank Bruce.
I don't care how good any manager is, when their funds don't work, and I don't care why, I switch.

@bee - that was my understanding as well. The 'maybe' is still the part to be determined or emphasized I suppose. I wonder how much will be left for the shareholders after the law firms take their cut. I'm thinking that after 10 some years of litigation there won't be a lot left to divide up.

July 6 and July 13 episodes with Richard Bernstein:
part 1:
richard-bernstein-on-successful-investment-themes-of-the-past-and-his-favorite-one-now/
part 2:
key-investment-lessons-of-the-last-20-years-from-noted-strategist-richard-bernstein/

”There is speculative excess today relative to recent years.” - David Giroux, T. Rowe Price
(From Barron’s “Mid-Year Roundtable” July 15 issue)
Brilliant deduction, Watson!
Giroux’s Picks: Aurora Innovation / AUR, Danaher / DHR, Revvity / RVTY
And he still likes utilities.

I copied this from a previous discussion concerning MRFOX that I had shared.
Pulled this off the Marshfield website. https://www.marshfieldinc.com/
Marshfield is owned by its eight principals who have an average tenure of 23 years. Each principal must invest in the same stocks that Marshfield buys for its clients and may own no other publicly traded equities.

XMHQ is something I will be keeping in the IRA. The current strategy is only good for the past five years. As of yesterday, it is leading SPY over the past five, three, one, and YTD periods. I also own it in the taxable. It is just about 15% tech.
FMIMX is another I am keeping in the IRA. It is currently the largest holding in my IRA since LC's are split between funds. The recent interest in small caps has bumped it ahead of FBALX and PRWCX for now.
I have been looking at XMMO for the taxable for a while. As with XMHQ, the strategy has only been in place the last five years. I don't know why M* and Lipper don't account for this, but they don't.
XMMO has also been running ahead of SPY for five years now, and well ahead over the last twelve months and YTD. Given its makeup, it is likely susceptible to capital gains as holdings graduate to the 500 index. It is 15% tech. I have been holding off due to an unpleasant experience with PTH, a momentum health fund.
Like a lot of SMID's these funds are coming off three-month doldrums and are slightly under 52 week highs.

@Stillers,
I share the sentiment. Why bother with the drama that comes with small or even mid caps. If you are itching to dip into the cap table, DSTL is not a bad one to consider but it is not as active as you may want.
AUERX has only $60M AUM, $20M probably came in the last couple of years. $800K in all inclusive fees is not enough to feed 3 managers and some staff + other expenses. Willing to look past the 2.0 ER. I see the high ER instilling some personal discipline in me not to linger with a fund when it underperforms.

Didn't FAIRX take a big bet on Government backed bonds (Freddie/Fannie) that never panned out in the short term?
https://reuters.com/article/us-usa-fannie-freddie-idUSBRE94S19F20130529/
Seemed almost criminal the way the government reneged on their payment obligations on those bonds and BB (FAIRX) sued US Government as I recall.
Tens years later shareholders (maybe FAIRX)?) win in court:
significant-trial-victory-in-helping-fannie-mae-and-freddie-mac-shareholders-recoup-612-million-in-class-action

@BaluBalu
SCV AUERX has been on our watch list for about a year. Probably shoulda bought it back then. The ER has always been a bit of a turnoff for us but the performance, like you said, has been very good for the past 5 years.
Considering it and a few others, including some SCG funds yogi listed in this week's Barron's summary.
https://www.barrons.com/articles/nvidia-broadcom-meta-stocks-to-buy-roundtable-68451d5e?mod=djem_b_magazine_20240713
HISGX/HASGX
CTSAX/CTSIX
JSJAX/JSJIX
CWSAX/CWSGX
HRSRX/HRSMX
We have not reviewed any of these and have no comment on any of them yet.
Having however very recently jettisoned SCG NEAGX to reduce Tech exposure and risk, not sure we want to venture too deep back into SCs...yet. Will be looking for one with low Tech exposure. Note that AUERX has only 7.8% in Tech.
Also considering a broader stroke approach via equal weighted index funds RSP/VADAX, or simply doing nothing!
Let's see what next week holds RE: what CNBC this week dubbed, the (sic) "Great Rotation"!

The Week in Charts (07/12/24)
The most important charts and themes in markets, including...
00:00 Intro
00:15 Topics
01:11 Down Goes Inflation
08:23 Here Come the Rate Cuts
16:50 The Rotation Heard Round the World
22:58 An All-Time High a Day
24:50 Last 10 Years: Fundamental Gains vs. Share Price Gains
27:25 Costco's Highest Valuation Ever
29:45 Nike's Biggest Drawdown Since 2000
31:29 The Most Important Chart in an Economy
Video

@stillers,
Interesting fund - AUERX. 16 years and only $61M AUM. The fund has done well over the past five years, though it had a forgettable performance before that.
I am tempted to take a flyer on this with a 2.07% ER by selling another fund with half as much ER.
Let us know if you buy AUERX or any other funds.

@Old_Joe,
I do not need any stats to know if Schwab is milking their customers more than their competitors. Personal experience is more than sufficient. Milking can be in the form of money and / or other frictions, and their brokerage sweep feature and mandatory cash holding in Robo accounts speak for itself.
I am not one to quarrel with the weather. I had given many suggestions to Schwab to improve, including written suggestions. I have then decided to adapt and use them for what they are tolerable and use Fido for everything else.
Incidentally, I opened both Schwab and Fido accounts the same day 20 years ago. My Fido assets were about 10 times larger than my Schwab assets before TD accounts were transferred to Schwab. Fido never offered me any freebies or asset transfer bonuses. I use all investment vehicles, except interval funds. I do not use advisory services.
I have had my head taken out for being ahead of others in sharing negative info about brokerages and other financial institutions. It seems I offend forum members in my sharing. So, I will stop.
On a separate note, I, as a customer, once had a very poor experience with United Health - prior to ACA. I thought they were A holes and switched to other carriers. What I failed to consider was to look into their business financials and buy UNH stock. If they can try to screw me so blatantly, may be they have some sort of moat. Given that experience, I should look into if Schwab has a moat that allows them to provide poor customer experience and then buy Schwab stock.

The TIAA VAs that yogi is writing about are the CREF annuities. TIAA invented variable annuities for the predecessor of 403(b) plans back in 1952. These qualified annuities are different from the non-qualified annuities that Catch is asking about.
Non-qualified annuities are funded with after tax dollars. From an IRS perspective they are similar to non-deductible T-IRAs. Like IRAs, they have a penalty if you take withdrawals before age 59½. One difference is that unless you annuitize, the non-deductible dollars are the last ones out, unlike non-deductible T-IRAs, where withdrawals are prorated between pre- and post-tax dollars.
If one disregards typically expensive optional bells and whistles (enhanced death benefits, GLWBs, etc.), VAs can be used as non-deductible T-IRAs after maxing out one's IRA contributions. Unlike T-IRAs, they do not have RMDs at age 73 or so; however they do require one to withdraw money or annuitize at an age specified in the contract (usually somewhere between 85 and 90 or 95).
VAs all carry a variety of charges. Each contract sets its own rates, just as each mutual fund sets its own fees. Morgan Stanley (see link below) does a good job of giving industry ranges. Read the paper if you care to know what these fees are for:
Mortality and Expense Risk (M&E): 0.20% - 1.80%
Administrative and Distribution Fees: 0.00% - 0.60%
Annual Fee: $30 - $50, waived with high enough balance (typically $50K)
Contingent Deferred Sales Chage (CDSC) - think "class B shares" - 0% to 9% declining
https://www.morganstanley.com/content/dam/msdotcom/en/assets/pdfs/wealth-management-disclosures/understandingvariableannuities.pdf
As you can see from these ranges, there are some VAs with low "wrapper" fees (the first three charges), and that don't charge a fee to get out (no CDSC). The Fidelity Personal Retirement Annuity mentioned by catch (0.25% wrapper fees) is one such annuity. Until 2019 Vanguard had its own VA. At the time I believe its wrapper fee was 0.30%. There are others.
Of note, especially since yogi mentioned TIAA, is TIAA Intelligent Variable Annuity. Its fees depend on the size of the annuity, ranging from 0.50% (plus $25 if under $25K) to 0.35% (at $100K) and 0.25% (at $500K). The kicker is that after ten years, the wrapper fee drops to 0.10% regardless of balance. See prospectus.
Schwab sells a low cost VA (Genesis Life from Protective Life) with a 0.45% wrapper fee. There are a few others (I recall Pacific Life being one); search for no-load variable annuities.
As with 401(k)s, one also needs to consider the costs of the underlying portfolios. Like mutual funds, these come in multiple share classes. So it's not enough to simply look at the VA portfolio fund, but its share class. For example, both Fidelity and TIAA sell Pimco VIT Commodity Real Return Strategy. But Fidelity sells the Administrative class shares (see the prospectus it links to) with 1.48% ER after waivers, while TIAA sells the institutional class shares with an ER of 1.33% (see its fund prospectus).
Last and probably least :-) are a couple of comments about M*'s coverage of VAs. When comparing star ratings (if you can find them) M* has two different sets of ratings. One is for the fund itself (could vary by share class), the other is for the fund within the VA, i.e. including the wrapper fees. Most funds will tend to get high star ratings in the low cost VAs simply because they cost about 3/4% less than in "average" VAs. All those 4 and 5 star ratings are relatively meaningless if what you're interested in is the risk-adjusted performance of the underlying funds.
Second is that one can still eke out some VA info from M*. One has to search for a hidden "ticker" symbol of the fund of interest. That ain't easy. For example, here's the google search I did for dfa VA international value portfolio. It turned up a FT page with a ticker-like value of 0P00003CY8. In M*'s portfolio manager, create a portfolio with this as the sole holding, you'll be able to get a little info, including its YTD gain of 9.48%. And if you have premium membership, you'll be able to x-ray that portfolio to find that it is 98% foreign, with 54% in LCV.
If you add "pdf" to the search string, you might even turn up a 2 page M* report on the portfolio, such as this one at Pacific Life. (Just check the date to make sure you found a current report.)

Charlie Bilello called it a reversal day. X/Twitter LINK
"Today was one of the wildest days in markets you will ever see. A complete reversal of all of the major secular trends in recent years.
============================
Not many words there but "a LOT to unpack" as they say!
Agree with the "wildest days" notion. The divergent data was certainly compelling and a sight to behold.
But "a complete reversal of all of the major secular trends"?
C'mon man!
After the dust settled, NASDAQ was still UP 22% YTD and the RUT was pushing 5% YTD thanks to 3+% yesterday.
The key word there IMO is "Today." Meaning, it was ONE, count 'em, ONE freaking day!
I made some comments on another current MFO thread yesterday about what the analysts I listened to were saying about the landmark day (?) as it was unfolding.
Consensus takes?
Let's wait and see. At least (sic) until the end of the week (as in ONE more day later)!
Will investors continue to move money from LCG to Value and SCs?
The move may last for a month or two but are SCs and Value up to the task of being the new market leaders?
Is anyone seeing any significant follow through today? Anyone? Yes, the RUT is leading the major indexes, but only fractionally. NASDAQ sure ain't looking like a dead horse to me.
Earnings start today - lots of wood to chop this month still!.
In retrospect a month or two from now, I'll suggest some investors who have been/are underweight LCG, Tech, AI and/or Mag7 will regret NOT using yesterday as a BUYing opportunity. To wit, had you bought NVDA at the close yesterday, you'd already be UP 2.5%!
One take. Could be dead wrong.
But it's my WAG!
YMMV.

I'm aware of some charges/fees that may exist with VA's (all annuities), such as early withdrawal charges prior to 7 or 10 years. I'm also aware that there may be add on fees for other annuity options.
I peeked around (Investopedia and other sites) and only find a nominal range of all fees.
The main question being, is what ongoing annual fee costs should one expect when having a VA with "ACME' insurance company? How much is the sales person/insurance company going to charge (as a percentage) each and every year? Also, that the investment fund choices may have above normal ER's.
I'm asking for two folks in their mid-40's. They both have an educational level and job positions that should allow them to continue to 'max out' their 401k and Roth contributions for as long as they choose. They are considering other tax deferred investments.
I have knowledge of Fidelity's FPRA variable annuity for a comparison, and the aspect that this is a D.I.Y. method.
If you're curious, these are the FIDO VA investment choices.
Thank you for your input.
Remain curious,
Catch

I haven't checked performance of Royce funds recently. A while back (and I held on for a while), I invested in Royce small cap value. It was lights out when Whitney George was running the show (he was the show for several Royce funds of course). But I (guess) he was an inflationistas after QE started and it hurt performance. Whitney went to Sprott. Royce small cap value suffered for a long time but it is now making a comeback. I guess it has been very tough to be in value or small caps past 10 (?) years and double whammy if you ran a small cap value fund. This thread also reminded me of Ted (RIP, he was a posting machine), Rono, ... Thank you very much to David for continuing the tradition of fund alarm (I think that was the site)