Dear Liz: Please write about the issues people can face when they have a reverse mortgage and need to move out to get long-term care. My mother, who is now 94 and lives on a small teacher’s pension, got a reverse mortgage in her late 60s to donate to charity because she was sure she […]
Recent Blog Posts
Q&A: Three marriages, but only one Social Security benefit
Dear Liz: I was married for 10 years before divorcing. My second marriage also ended in divorce. I married for the third time and was widowed. I am collecting a survivor benefit. Am I also entitled to receive a benefit from my first marriage of 10 years? My first husband is still living. Answer: Social Security is […]
Q&A: Confusion about spending HSA money after 65
Dear Liz: I’ve read that after age 65, health savings account money can be spent on anything. Your recent column said it could be spent only on medical expenses. Which is true? Answer: At age 65, there is no longer a penalty if you spend HSA money on something other than qualifying medical expenses. Those withdrawals will […]
Q&A: Getting an HMO to cover an outside specialist
Dear Liz: You’ve written about health maintenance organizations and how they may not cover care outside their networks. Be aware that HMOs will sometimes cover specialists outside of their network, especially in cases where they don’t have that type of specialist, or for an unusual condition needing a second opinion. It doesn’t hurt to ask! I […]
Q&A: Can stepmother prevent siblings from sharing their inheritance?
Dear Liz: My father passed away in May of last year. In his trust, he intentionally left out one of my four children. The remaining three, who were to inherit a substantial sum, decided to pool their money and share it with their excluded sibling. My stepmother, who is in charge of his trust, has told […]
Q&A: Be careful when commingling old and new funds in a Roth IRA
Dear Liz: I am a stay-at-home mom of 15 years who has a Roth IRA account from working before marriage. I will start working again soon and would like to know how to best protect my separate property from my future community property earnings. Should I start a new Roth IRA instead of adding to my […]