Dear Liz: The value of our car, furniture and personal items is well below the $185,000 that currently triggers probate in California. We no longer own real estate. Am I correct that investment and bank accounts that have designated beneficiaries do not count toward the probate limit? Answer: Yes. (Your car doesn’t count either, by the way.) […]
Recent Blog Posts
Q&A: When should a second earner start taking social security?
Dear Liz: I am 64 and still working and earning decent pay. My wife is 61 and retired. I have been a high earner for most of my life while she was working and raising our family. I don’t plan to retire anytime soon. Is it a good idea for her to start taking Social Security […]
5 ways to calm financial stress
Financial stress is so common that certified financial planner Katie Lindquist says almost every client she has tells her they are feeling it. “They don’t know what they should be doing with their money, and they feel like they should know. They feel shame around their money habits, which is a huge driving force of […]
This week’s money news
This week’s top story: 5 tips for avoiding tax scams in 2024. In other news: How a travel credit card can be your ticket to big savings, what to know when applying life insurance for transgender people, and government shutdown threat finally put to rest for now. 5 Tips for Avoiding Tax Scams in 2024 If […]
Q&A: Can an adult child inherit a deceased parent’s Social Security payments and pension?
Dear Liz: My mom passed away recently. She had a teacher’s pension as well as Social Security benefits. Am I eligible to receive part of her benefits? If so, what steps must I take? Answer: Social Security survivor benefits are meant to help a deceased worker’s dependents. Dependents include spouses, minor children and disabled children, as long […]
Q&A: Should this reluctant retiree pay an advisor?
Dear Liz: I’m about to retire. A friend’s money manager has done well by her, doubling her portfolio in five years. This manager would charge a 1.5% fee to take control of my money, invest it, and generate income to supplement my Social Security. My heart is truly uncomfortable turning over control of my life savings […]