Dear Liz: In a recent column, an attorney suggested that a veteran’s information can be shredded three years after death. However, surviving spouses of veterans can be eligible for benefits to cover the costs of assisted living and would need to provide that information. Answer: That’s an excellent point. Many people aren’t aware of the “aid and attendance” benefit that […]
Recent Blog Posts
Q&A: California is a community property state. How that affects your and your spouse’s need for a will
Dear Liz: Does a spouse automatically inherit everything if the other passes away without a will? Answer: Not necessarily. Anything that has a beneficiary designation, such as retirement accounts and life insurance, would typically pass to the person named as beneficiary even if that’s not the surviving spouse. Bank and investment accounts also may have “transfer on […]
Q&A: Retirement benefits and taxes
Dear Liz: We are just getting to the age where mandatory distributions from our retirement accounts have to start. We don’t need the additional cash as we have great pensions. If we convert to Roth IRAs, will the amount in the Roth be subject to minimum deductions going forward? Will our heir have to pay any taxes […]
5 surprising facts about assisted living
If you or a loved one can no longer live safely at home, assisted living may be the answer. Residents typically live in their own rooms or apartments and get housekeeping services, meals and help with personal care. But facilities can vary enormously, and people’s expectations about assisted living often clash with reality, elder care […]
This week’s money news
This week’s top story: October mortgage rates forecast. In other news: 6 pitfalls to avoid when shopping for Medicare Advantage, 5 tips to get primed and ready for Amazon’s October Prime Day, and entrepreneurs feeling less optimistic as rates rise. October Mortgage Rates Forecast: Highest in 2 Decades In September, mortgage rates reached their highest […]
Q&A: Paying a grandchild’s student loans
Dear Liz: Regarding the grandparent who would like to pay off a grandchild’s student loans. You wrote that paying off the loans would be considered a gift. However, if the grandparent paid the funds to the institution that originated the student loan, would it then not be a gift? This would exempt the grandparent from filing the […]