Dear Liz: We are updating our estate plan to account for the transferral of our home to our six children when we die. The home currently has a large mortgage balance on it. We would prefer that it not have to go through probate, and that any outstanding mortgage balance would not be immediately due. I […]
Recent Blog Posts
Q&A: Why debt settlement companies are the wrong way to deal with high credit card debt
Dear Liz: Finance companies claim if you owe too much credit card debt that by law you need not pay it all back, but can retire some or most of this debt. They say this is not a credit card debt reduction program through balance transfers or debt consolidation loans. It sounds more like a faux semi-bankruptcy declaration. […]
Q&A: Survivor benefits for estranged spouse
Dear Liz: My dad recently passed away. He was technically married, however his wife kicked him out of their home three years prior to his passing, making him homeless. Is she eligible to receive Social Security survivor benefits? Answer: Social Security doesn’t try to gauge how married a couple was. As long as they were legally wed, she […]
This week’s money news
This week’s top story: How to set good money examples for kids. In other news: Cyber Monday sales, 5 credit card rewards pitfalls to avoid this holiday season, how NYC crackdown on Airbnb, Vrbo-style rentals affects travelers. How to Set Good Money Examples for Kids Your money-related actions and conversations can model positive behaviors for kids, […]
Companies’ deceptive ‘dark patterns’ online cost you money — here’s how to fight back
See if any of this sounds familiar: ● You can’t find an easy way to cancel an unwanted subscription, so you let it continue for another month — telling yourself you’ll try again later. ● You feel rushed into an online purchase you regret, but there’s no option to undo the transaction or demand a […]
Q&A: Roth IRAs and taxes
Dear Liz: I sold some stocks from a Roth IRA to pay for some bad debts. Is this going to count as taxable income for this year? Answer: You can always withdraw the amount you contributed to a Roth IRA without owing income taxes or penalties. For example, if you withdrew $10,000 but your contributions over the years totaled […]