Dear Liz: I was 36 with two young children, ages 6 and 2, when my husband died. We are collecting Social Security survivor benefits. I work only part time since my kids are so young. He left two IRAs: one that named me as a beneficiary and one that didn’t name anyone. I understand I can […]
Recent Blog Posts
Q&A: How to handle cash savings of deceased parents
Dear Liz: My mother passed away a little over a year ago, and my father about 18 months prior to her. I discovered that my parents saved up quite a lot of cash (in the six figures), and I’m afraid to deposit it without triggering the IRS. My parents routinely saved anywhere from $5,000 to […]
Q&A: Spouse gets the larger of two Social Security benefits, not both
Dear Liz: Your recent column on the divorced couple where the ex-wife can apply for Social Security benefits has me wondering about my own benefits. I’m 60 and my husband is 79. Can I get his Social Security benefits, and if so, when should I apply? I am working and have worked all my adult […]
Q&A: Reverse mortgages can be a boon, but come with potential risks
Dear Liz: Please write about the issues people can face when they have a reverse mortgage and need to move out to get long-term care. My mother, who is now 94 and lives on a small teacher’s pension, got a reverse mortgage in her late 60s to donate to charity because she was sure she […]
Q&A: Three marriages, but only one Social Security benefit
Dear Liz: I was married for 10 years before divorcing. My second marriage also ended in divorce. I married for the third time and was widowed. I am collecting a survivor benefit. Am I also entitled to receive a benefit from my first marriage of 10 years? My first husband is still living. Answer: Social Security is […]
Q&A: Confusion about spending HSA money after 65
Dear Liz: I’ve read that after age 65, health savings account money can be spent on anything. Your recent column said it could be spent only on medical expenses. Which is true? Answer: At age 65, there is no longer a penalty if you spend HSA money on something other than qualifying medical expenses. Those withdrawals will […]