Dear Liz: I’m confused about required minimum distributions from my retirement accounts. I’d like to avoid taxes on my withdrawals, but it seems there is no way to avoid them. Please give me some guidance. Answer: If you got a deduction for contributing this money, and you want to keep the funds you’re required to withdraw, then […]
Recent Blog Posts
Q&A: Mistaken HSA withdrawal is fixable until April 15
Dear Liz: I need some help understanding health savings account distribution rules. I was injured and bought medical supplies with my credit card, then reimbursed myself from my HSA. When I didn’t need the supplies, I returned them for a refund. What now? It seems like the money should go back to the HSA, but it’s […]
Q&A: How do you force heirs to pay?
Dear Liz: My husband and his six siblings inherited a large family farm. No one lives there; it is used recreationally. Our limited liability corporation is set up so that only blood relatives can inherit. If they don’t want it, they can sell their share (only to family) for 40% of the value. The seven current […]
Q&A: Bank dragging its heels on reimbursement for forged checks
Dear Liz: I am a victim of check fraud where someone intercepted two checks made out to the U.S. Treasury and changed the payee name. These two checks were for $21,000 and $6,000, so it’s substantial. I made a police report and spoke with my bank at the end of August. Any advice on how to […]
Q&A: Unwanted timeshares granted back to developers
Dear Liz: I successfully granted back seven timeshare properties in different locations that my father had bought over the years. In several cases, the companies were very unhelpful over the phone, but responded once I wrote a letter explaining my father’s age and inability to travel and requested to grant back the deed. It seems all […]
Q&A: Will canceling a card permanently hurt my credit scores?
Dear Liz: My wife and I have excellent credit, pay our credit cards in full each month before the due date, and have no outstanding loans or debts. Our credit utilization is low, about 3-4%. Our total available credit is about $125,000 for six cards. One credit company keeps reducing our credit line every time they […]