Dear Liz: What designation or instructions should I make for assets (if any) which remain in my health savings account at the time of my death? Do any remaining funds go directly to my estate or am I allowed to name a beneficiary for this money? If “yes” to the beneficiary question, is the beneficiary subject to the […]
Recent Blog Posts
This week’s money news
This week’s top story: New changes for Medicare in 2024. In other news: Fed hits pause on rate hikes, third times since March 2022, Black Friday shopping could look different this year, and the busiest days to fly during the winter holidays. What’s New for Medicare in 2024? Check next year’s premiums and deductibles, as well […]
5 strategies for navigating today’s digital tipping culture
The nearly universal experience of finding yourself face-to-face with a checkout counter screen asking you to select an amount to tip for service can prompt a cascade of awkward questions: How much should you tip on a $5 coffee if anything? How can you decide before the cup has even been poured? Is it rude […]
Q&A: Watch out for probate triggers
Dear Liz: My wife and I have a living trust that includes most of our assets. We have two bank accounts that are not in the trust totaling $130,000. Will these accounts be subject to probate? If it matters, she is in memory care and I handle all finances. Our executor son is a signer on one bank […]
Q&A: Why those great deals banks are offering might be less lucrative than they appear
Dear Liz: I’m receiving numerous email offers from big banks offering significant incentives and bonuses to open checking and savings accounts. I usually don’t pay much attention to them but the latest one is offering $900 to open these accounts. I’ve read all the fine print and understand all the requirements, but I can’t help but […]
Q&A: What’s a qualified charitable distribution?
Dear Liz: I have a suggestion for the couple who is facing the start of required minimum distributions from their retirement accounts but who do not need the money. They could consider making a qualified charitable distribution (QCD). A QCD allows you to donate to a charity directly from your IRA and satisfies your RMD requirement. […]