Can Markets Survive Big Tech Earnings, Fed Rate -2-

-- Fellow auto maker Ford Motor reported an operating profit of $2.5 billion from sales of $48.3 billion for the second quarter, though there was a GAAP net loss of $1.3 billion. The difference between the adjusted and GAAP numbers was largely a previously announced $3.6 billion EV-related charge.

What's Next: Ford's EV business lost about $1.3 billion in the second quarter. Ford is expected to have a full-year loss of about $4 billion, including a $1 billion investment in its universal EV, or UEV, platform, which is intended to lower production costs. UEV sales should start around 2027.

-- Al Root and Liz Moyer

Dear Quentin,

Two of my husband's siblings have recently set up trusts for valid reasons. The first sibling's trust was established to protect the interests of both his second wife and the children from his first marriage.

The second sibling's trust was created to address long-term medical-care concerns. I have been educating myself to determine whether a trust would be a good idea for our estate. The more I read, the more uncertain I become.

We are in our mid-to-late 60s and are both retired federal employees. My husband retired under the Civil Service Retirement System, while I retired under the Federal Employees Retirement System.

Together, we receive pensions totaling $120,000 annually. I have $1 million in my Thrift Savings Plan account, while my husband has $200,000. I will begin collecting Social Security in five years, at 70, with an estimated monthly benefit of $4,000.

My husband will begin Social Security at the same time, based on my employment record, with an estimated monthly benefit of $2,000. I also have approximately $350,000 in inherited IRAs. One IRA is a stretch IRA.

The other three are subject to the SECURE II Act, and I have six years remaining to empty those accounts. I also have a small life-insurance policy, and we both carry long-term care insurance.

We have wills and powers of attorney naming our daughter for both financial and healthcare matters. I also maintain a letter to our executor (our daughter), which I update and share at least annually, detailing our financial and digital lives.

Our two adult children are equal beneficiaries on their father's TSP account, my life-insurance policy, and my inherited IRAs. My husband and our children are named as beneficiaries on my TSP account: 50% to my husband and 25% to each child.

The only assets remaining in our estate for the wills to cover are our house (currently valued at $400,000), vehicles, bank accounts and personal belongings. All of these assets are jointly held with rights of survivorship.

Our wills state that, after both of our deaths, these items are to be sold after our children have had the opportunity to address any sentimental belongings. Our son understands that there will be costs associated with probating our wills.

I realize that probate can be lengthy, public and expensive. I have been through the process myself as the administrator of my late sister's estate. Personally, I found probate less onerous than settling her estate without a will.

Is there anything I have missed or neglected? Or are we adequately covered? I understand that our situation could change in the future. But at this point, is there any reason for us to establish a trust?

-- A Couple in Our 60s

Read the Moneyist's response here.

-- Quentin Fottrell

-- Newsletter edited by Liz Moyer, Patrick O'Donnell, Rupert Steiner

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

July 29, 2026 07:07 ET (11:07 GMT)