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 […]
Recent Blog Posts
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 […]
Q&A: Are living trusts a DIY project?
Dear Liz: I have a living trust. I’ve also got family who have become estranged and priorities that have changed in terms of charities I’d like to benefit. Is there any way to set up a trust that allows me to make these changes without having to pay an attorney? Answer: There are certainly do-it-yourself options for […]
This week’s money news
This week’s top story: What the big relators settlement means for home buyers and sellers. In other news: The evolution of retirement and what it might mean for you, next target in Biden vs. junk fees, and dynamic pricing. What the Big Realtors Settlement Means for Home Buyers and Sellers The agreement could mean that home […]
Q&A: How capital gains boost Medicare premiums
Dear Liz: We are retired and living mainly on a pension, which covers our month-to-month needs. We own our house outright and are considering downsizing. When we do that, will the capital gain cause our Medicare premiums to go up two years later? If so, will it automatically go down again after one year? Answer: A big-enough […]
Q&A: Property transfers trigger tax problem
Dear Liz: I’m considering giving property (a condo) to my child through a quitclaim deed while I am still living. If she continues to live in the condo for two years after gaining possession, doesn’t she get a $250,000 capital gains exemption when she sells the property? Answer: Yes, if she owns and lives in the home […]