Dear Liz: My wife is in the process of being named executor for her late sister’s estate. There are several medical bills, including some that have been sold to collection agencies. Our understanding is that any negotiations or settlements should be done with those agencies as opposed to the original medical organization. Is this correct in […]
Recent Blog Posts
Q&A: After creating a living trust, don’t forget to review it
Dear Liz: My husband and I created a living trust about six years ago. How often do we need to review it with an attorney if we’ve had no major life changes? Answer: You’re already overdue. The standard advice is to have your attorney review your trust every three to five years or after major life events, […]
Q&A: Skipping Medicare drug coverage now can mean paying more later when you do sign up
Dear Liz: I did not enroll in Part D prescription coverage when I enrolled in Medicare in 2005 because I was not taking any prescriptions at the time. When I enrolled a few years later, I was penalized $11 per month for late enrollment and I must pay this penalty until I die. What is the […]
This week’s money news
This week’s top story: Weekly mortgage rates rise, but long term expectations are lower. In other news: In-app deals and rewards, how to take control of awkward money conversations, and how Trump and Harris aim to address your health care. Weekly Mortgage Rates Rise, But Long Term Expectations Are Lower Where are mortgage interest rates headed? […]
Q&A: Changing jobs? Think about transferring your retirement fund
Dear Liz: I’m a government employee with a 403(b) supplemental retirement plan. I’m taking a new job out of state and wonder what to do with the money in this account. Should I leave it in the plan, which has been doing great, or transfer it to my new employer’s plan? Also, I have a little […]
Q&A: Big banks can cause big headaches when it comes to retitling accounts
Dear Liz: Someone recently asked whether to make a bank account “payable on death” or put it in their living trust. Our bank has refused to allow us to retitle our accounts so we can have them in our trust. Is “payable on death” our only option? Answer: No, but you may need to move your accounts […]