Dear Liz: My parents set up a family trust, which my brother and I have now inherited but not fully distributed. Included in that trust was the understanding that $130,000 would go to my daughter who is now 23. She has not received any of the money yet but would like to receive it within the […]
Recent Blog Posts
Q&A: Married more than once? Here’s what that means for Social Security survivor benefits
Dear Liz: I’m in a second marriage that’s lasted 10 years. Is my wife fully entitled to my Social Security after I die? My first wife and I were married for 19 years. Is my ex entitled to any of it? Answer: Both your current spouse and your ex could be entitled to survivor benefits based on your work […]
Q&A: Home sales and taxes
Dear Liz: My in-laws passed away earlier this year within months of each other. Their primary asset, part of their living trust, is their home, worth close to $1 million. There is a reverse mortgage of about $332,000 that will be paid off once the house sells. Will capital gains tax apply to the four beneficiaries? […]
Q&A: So you’ve got a friend spewing investment advice from social media. Here are some grains of salt
Dear Liz: I am in my early 60s and have a friend the same age who keeps telling me to invest in companies which she has found from looking at YouTube videos. She says that she picks stocks by seeing which companies are repeated over and over again in different videos. She claims she is making […]
Q&A: Social Security survivor benefits
Dear Liz: My husband died 10 years ago. He had a good salary for many years. I just turned 60 and have been told that I may now claim Social Security benefits as his widow. He has a minor child from another relationship. If I claim survivor benefits now, will it diminish the benefits his child […]
Ways to recover from a financial shock and be prepared next time
Financial shocks come in many different forms: An unexpected medical bill, house repair or job loss are among the typical ones. The reasons for financial shocks may be common, but recovering from them can be unexpectedly challenging. “These things happen once or twice over a financial lifetime,” says Spencer Betts, a certified financial planner and […]