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Q&A: Rules about a dead ex’s pension

July 22, 2019 By Liz Weston

Dear Liz: My ex-spouse passed away recently. She had a pension, and I got 25% of the monthly amount (we had a Qualified Domestic Relations Order to divide the pension). I am now the survivor, but I still get the same amount every month. Shouldn’t I be getting what she received?

Answer: Pensions for survivors don’t always increase when the primary worker dies, and sometimes they go away entirely.

That makes them different from Social Security, where a surviving spouse would get the larger of the two checks a couple received. A qualifying divorced spouse may also qualify to get a Social Security check equal to what the deceased was getting.

What happens to the pension probably depends on the details of your QDRO. Pension companies don’t always give survivors accurate information, so check with your lawyer to see what is supposed to happen according to your agreement.

Filed Under: Divorce & Money, Q&A, Retirement Tagged With: Divorce, Pension, q&a, Qualified Domestic Relations Order

Friday’s need-to-know money news

July 19, 2019 By Liz Weston

Today’s top story: Tax planning for beginners – 6 concepts to know. Also in the news: Credit score up? How to build your credit smarts too, why it’s time to find a safety deposit box alternative, and here’s how much money Americans say you need to be ‘rich’.

Tax Planning for Beginners: 6 Concepts to Know
Basic steps to shrink your tax bill.

It’s Time to Find a Safe Deposit Box Alternative
Not as secure as we once thought.

Here’s how much money Americans say you need to be ‘rich’
Do you qualify?

Filed Under: Liz's Blog Tagged With: Credit Score, safety deposit boxes, Taxes, taxes for beginners, wealth

Thursday’s need-to-know money news

July 18, 2019 By Liz Weston

Today’s top story: How your 2019 vacation can pay for your 2020 vacation. Also in the news: How to wean your adult child off your credit cards, how to save money on international flights, and why your financial aid could plummet after the first year of college.

How Your 2019 Vacation Can Pay for Your 2020 Vacation
Maximizing your rewards cards.

How to Wean Your Adult Child Off Your Credit Cards
Time to cut the apron string.

How to Save Money on International Flights
Looking at all of your options.

Beware: your financial aid could plummet after the first year of college
Don’t be caught off guard.

Filed Under: Liz's Blog Tagged With: adult children and credit cards, college financial aid, international flights, rewards cards, savings tips, vacation tips

Wednesday’s need-to-know money news

July 17, 2019 By Liz Weston

Today’s top story: 4 types of investment accounts you should know. Also in the news: Why you should keep the bare minimum in your checking account, steps to take when you’re struggling with car payments, and why what you don’t know about your parents’ finances could ruin yours.

4 Types of Investment Accounts You Should Know
Finding the right account to meet your needs.

Keep the Bare Minimum In Your Checking Account
Putting your money to work.

Struggling with car payments? Take these steps before you get into trouble

What You Don’t Know About Your Parents’ Finances Could Ruin Yours

Filed Under: Liz's Blog Tagged With: banking, car payments, checking account, Investing, investment accounts, older parents and money

Tuesday’s need-to-know money news

July 16, 2019 By Liz Weston

Today’s top story: What to do when back-to-school bites you in the budget. Also in the news: Advice and warnings for starting your own cannabis business, why Millennials need to build credit smarts and find out of your state is having a back-to-school tax-free weekend.

What to Do When Back to School Bites You in the Budget
You’ll need to prioritize.

Advice and warnings for starting your own cannabis business
The new Green economy.

Millennial Money: Credit score up? Build credit smarts, too
Protect your score.

Find Out If Your State Is Having a Back-to-School Tax-Free Weekend in 2019
Did your state make the list?

Filed Under: Liz's Blog Tagged With: back-to-school shopping, cannabis, Credit Scores, millennials and credit, tax-free weekend, tips

3 steps to keep ‘solo agers’ happier and safer

July 16, 2019 By Liz Weston

Retirement coach Sara Zeff Geber visited several Northern California assisted living facilities to interview “solo agers” — people, either single or coupled, who don’t have children to help them as they grow older.

At many facilities, she couldn’t find any. That puzzled her until she realized that adult children are often the ones pushing the move into long-term care facilities.

“Who is it that gets mom or dad to move out of the two-story, single-family home?” says Geber, founder of LifeEncore coaching service in Santa Rosa, California. “The kids badger and cajole.”

In my latest for the Associated Press, how ‘solo agers’ can protect themselves and live a happy life on their own.

Filed Under: Liz's Blog Tagged With: aging, assisted living, baby boomers, solo agers

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