Dear Liz: You recently wrote about payable-on-death accounts. You wrote that one of the disadvantages to these accounts is that an estate’s executor might have to try to get money back from beneficiaries or pay expenses out of their own pocket if there wasn’t enough money left in the estate to pay the bills. I thought […]
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This week’s money news
This week’s top story: What Trump and Harris have in store for your taxes. In other news: Credit card-bonus-friendly season is here, October mortgage outlook, and drawbacks to consider before getting metal credit card. What Trump and Harris Have in Store for Your Taxes Most, if not all, of the candidates’ tax proposals would need […]
Q&A: Beware of penalties that can come with delaying Medicare enrollment
Dear Liz: I have a high-deductible insurance plan from my employer and I contribute to a Health Savings Account. I understand people on Medicare can’t contribute to an HSA. If I’m still working at full retirement age, can I start my Social Security benefit but avoid enrolling in Medicare? Answer: No. Once you start Social Security, […]
Q&A: In a divorce, are Social Security benefits on the table?
Dear Liz: Twenty years ago, after 14 years of marriage, a friend divorced her husband. She says that as part of her divorce settlement, she signed a document agreeing not to collect divorced spousal benefits from Social Security. Is that even legal? She’s in her 60s and fears she can never retire because her own Social […]
Q&A: Trust in the flexibility of living trusts
Dear Liz: Is naming a beneficiary for a nonretirement, “payable on death” account as effective as putting the account in a living trust? It seems easier than doing all the paperwork each time I open an account, but is it a good idea? Answer: Both living trusts and payable on death accounts avoid probate, the court process […]
This week’s money news
This week’s top story: Harris v. Trump on student loans. In other news: What the Fed’s rate cutting plans mean for the housing market, what small-business owners need to know about digital security, and how to watch football without cable. Harris v. Trump on Student Loans: Where the Candidates Stand As president, Harris would likely champion […]