Dear Liz: I am going to sell my house, pay back my reverse mortgage, spend down and go on Medicaid in order to pay for assisted living that I need. What are some good resources I can contact to help me navigate all this? I have done a lot but am still needing more help. Answer: Medicaid, […]
Recent Blog Posts
Q&A: These major financial decisions shouldn’t be DIY projects. Talk to an expert!
Dear Liz: I anticipate being dead soon (cancer). I have established an irrevocable trust for my 8-year-old child, with my 47-year-old wife as the trustee. With respect to taxes and other issues and naming beneficiaries, what is the optimal strategy regarding my child for life insurance and traditional and Roth IRAs? My wife will get the […]
This week’s money news
This week’s top story: First-time home buyer affordability report – Q2 2024. In other news: September mortgage outlook, weekly mortgage rates drop, and pay interest while in school. First-Time Home Buyer Affordability Report – Q2 2024 Making a larger down payment or choosing a less desirable home could make this initial purchase easier, but not all […]
Q&A: After her husband died, a widow’s credit limit plummeted
Dear Liz: You’ve mentioned how important it is for spouses to each have credit cards on which they are the primary account holder. My husband died last year. We had a credit card with statements that showed the charges we each had made on our separately numbered credit cards. I found the account was in his […]
Q&A: Beware the insurance salesperson in financial planner’s clothing
Dear Liz: Do you have any general advice for choosing a tax preparer? My financial advisor has recommended switching my 403(b) contributions over to Roth 403(b) with the same investment plan. I am worried that this could put us at risk for a higher tax bracket currently. Answer: Ideally, a financial advisor wouldn’t recommend switching to a […]
Q&A: A parent had life insurance, but the companies are gone. What to do?
Dear Liz: My mother died last year. I discovered she had two old life insurance policies written by companies that no longer exist. How can I determine which modern insurance company is responsible for policies written by these old companies? How can I submit a claim? My mother was born in 1932. The first policy began […]