Dear Liz: I have received an inheritance of $445,000 from a relative who died out of the country. Do I have to pay income tax on this money? Answer: If you inherited from someone who was a U.S. citizen who lived abroad, then that person’s estate may be subject to U.S. estate taxes. The estate […]
Recent Blog Posts
Q&A: The dark side of reverse mortgages
Dear Liz: I have had a reverse mortgage on my condo since 2009, due to financial necessity. The interest rate on my mortgage keeps going up. Could the interest rate be reduced by changing lenders or would there be exorbitant fees involved in the process? My financial standing is not good, and I am in […]
Q&A: Credit scores come in many forms
Dear Liz: I am now getting my credit score from three different places: my bank, one of my credit cards and a free online site. Why are all three of the scores always different? Answer: You don’t have one credit score, you have many and they change all the time. Furthermore, you’re probably looking at […]
Friday’s need-to-know money news
Today’s top story: The single parent’s guide to life insurance. Also in the news: How to pay your taxes with a credit card if you must, life insurance and suicide, and how to prepare your kids for “adulting.” The Single Parent’s Guide to Life Insurance Protecting your children’s future. If You Insist on Paying Taxes […]
Thursday’s need-to-know money news
Today’s top story: What the Fed rate hike means for your CDs. Also in the news: Steps to take if you don’t trust your spouse at tax time, 3 women you should know in investing, and 6 personal finance rules to live by in your 40s. What the Fed Rate Hike Means for Your CDs […]
Wednesday’s need-to-know money news
Today’s top story: The 3 reports you haven’t frozen yet. Also in the news: United halts the transport of pets in cargo holds, how to protect your 401(k) from rising interest rates, and how much your personal data is worth on the dark web. The 3 Reports You Haven’t Frozen Yet Beyond the Big 3. […]