Dear Liz: I am an 80-year-old female in generally good health. My only family is my unmarried 54-year-old son. The only debt I have is credit card debt of about $30,000 at 0% interest. It’s in my name alone. My house and car have been registered with “transfer on death” designations. My son’s name is […]
Recent Blog Posts
Q&A: Planning for retirement in a volatile market
Dear Liz: I have a retirement account at work and a stock portfolio. Both are down significantly this year and I’m tired of losing money. What are the safest options now? Answer: Before the “what” you need to think about the “why” and the “when.” Why are you investing in the first place? And when […]
Q&A: Should retired teacher return to work?
Dear Liz: I am a retired special education teacher who receives a government pension. The recent law change now permits me to also receive Social Security. I have 38 of the 40 credits required in order to qualify. Am I better off getting a job to earn those two credits? Another teacher explained to me […]
Q&A: Not everyone benefits from the Social Security Fairness Act
Dear Liz: My husband passed away in January 2024. He retired from the U.S. Postal Service after 37 years. He drew off of my Social Security since he did not pay in. How will the change in the windfall elimination provision affect me? Answer: It may not. Social Security has promised to increase benefits and […]
Q&A: Losing a home in a fire, then being hit with a ‘casualty gain’
Dear Liz: My house was burned down in the Palisades fire. I lived in the house for 25 years and lost everything. I thought there may be a silver lining with tax deductions. Much to my surprise, I am supposed to use the purchase price from 25 years ago as my adjusted cost basis. The […]
Q&A: Successor trustee can use estate funds to hire help
Dear Liz: I have named my daughter as executor of my revocable living trust. I am concerned that she may not have the ability to carry out all of the functions required of an executor. Are there entities she can hire using trust funds to fulfill her duties? Answer: Technically, an executor is a person […]