Dear Liz: My wife and I have a revocable living trust and we would like to change our primary successor trustee to someone who lives in the United Kingdom. The new trustee is not related to us nor is he a U.S. citizen. Can this be done and would our trust then become a foreign […]
Recent Blog Posts
Tuesday’s need-to-know money news
Today’s top story: What the new COVID relief package means for you and your money. Also in the news: Second relief bill and vaccine rollout attract fraudsters, taking advantage of student loan breaks before 2020 ends, and why a down payment is just the beginning of buying a new home. What the New COVID Relief […]
Monday’s need-to-know money news
Today’s top story: 5 holiday disasters that are covered by home insurance. Also in the news: How to get started on a post-pandemic budget recovery plan, a new episode of the Smart Money podcast on lessons listeners learned during the pandemic, and 3 mistakes to avoid when you buy a recreational vehicle. 5 Holiday Disasters […]
Q&A: Investing can be scary. How to overcome your anxiety
Dear Liz: I’m 53 and a debt-free homeowner. I’m employed but don’t have a 401(k) and have only about $80,000 in savings. I realize I need to put that money to work somewhere but I just freeze when it comes to trusting myself or someone else to handle it. Markets lately scare me to death, […]
Q&A: Weighing portfolio rebalancing costs
Dear Liz: I constantly read about the need to “rebalance” portfolios each year or more often to make sure you have a specific distribution of stocks, bonds and cash. However, selling stocks can create capital gains that will be taxed. An advisor rebalanced my portfolio and the result for me was an increase in capital […]
Q&A: What to do with sudden savings
Dear Liz: A few months ago we took out a jumbo loan on our residence, using the excess to pay off the mortgage on an investment property. The interest savings is substantial and our monthly payment is much less than the combined two payments we had before. We never had any problem making the two […]