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? […]
Recent Blog Posts
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 […]
Q&A: Don’t try evading Roth IRA requirements
Dear Liz: My son is a student. He would like to maximize his Roth IRA at the annual $7,000 limit and has the money in savings to do so. However, his income from odd jobs, paid in cash, will probably be less than the $7,000 required to make this maximum contribution. Can he report additional income […]
This week’s money news
This week’s top story: Getting a second opinion can help ward off misdiagnosis. In other news: What to know about pet insurance, 6 tips for the FAFSA delay, and questions you aren’t asking, but should during open enrollment. Getting a Second Opinion Can Help Ward Off Misdiagnosis Each year, diagnostic error leads to about 371,000 U.S. […]