Dear Liz: I am very overwhelmed with life so I’ll try to stick to where I need your help. My 68-year-old husband has been diagnosed with dementia. I thought we were responsible, having a nice nest egg of over $2 million, a house that is paid off and no debts. However, finding out long-term care costs, […]
Recent Blog Posts
Q&A: What should I do with inherited gold coins?
Dear Liz: When my mother passed away nine years ago, I inherited some gold coins. At the time, it was difficult to go through her life’s belongings and part with things. Now that gold prices are so high, I’m wondering if it makes sense to sell those coins? I’m not sure holding on to them makes […]
Q&A: Could my husband’s ex claim his Social Security?
Dear Liz: My question is regarding spousal Social Security. My husband and I have been married for close to 20 years. My husband’s first wife has never remarried. Could she be claiming my husband’s Social Security? If so, without us knowing it? And, how will that affect my Social Security when that time comes? Should mine […]
Q&A: Is there a tax break for paying a child’s student loans?
Dear Liz: Our daughter took on substantial student loan debt to get her master’s degree. She owes about $60,000 and so far has only been able to work a minimum wage job. If my wife and I were to pay off the loans, would there be any tax advantages or other benefits we could use to […]
Q&A: Is switching brokerages a taxable event?
Dear Liz: Just moving your holdings from one broker to another should not trigger any capital gains implications if you journal over your stocks, bonds and mutual fund holdings without liquidating anything. Right? Answer: Right, unless you’ve been sold a proprietary investment that can’t be moved to a competitor. Some brokerages create their own funds that have […]
Q&A: Is a QLAC a good idea?
Dear Liz: I read in a recent column that you mentioned qualified longevity annuity contracts (QLAC). I have heard about them before but don’t know the pros and cons about them. Is that something that you could write about in a future column? Answer: QLACs are complicated enough to be beyond the scope of this column, but […]