Personal Finance
How to Divide Inherited Property
If you inherit property with siblings or other family members, there are ways to divide the real estate inheritance without resorting to a lawsuit. Q: I have an interesting situation. My aunt recently died and left behind an estate which …
How to File Taxes For Previous Years
If you’re looking to file taxes for previous years, the good news is that you may still get refunds from the IRS. Q: I’m trying to get pointed in the right direction. I was in a motorcycle accident back in …
Home Value Protection Insurance Not Worth The Cost
Home value protection insurance might not be worth the cost when property prices are the lowest they have been in decades. Several weeks ago, we were asked a question about whether someone should buy insurance on their property value that …
Is Bankruptcy a Better Option Than Strategic Default?
Declaring bankruptcy is an option to help underwater homeowners. When in default you can consider a strategic bankruptcy. Q: About a month ago, you wrote an article about strategic default options for underwater homeowners. I was surprised that you didn’t …
Using Your 401k During Unemployment
Q: I was laid off my job last night and I need advice about what to do with the money I have in my company 401(k). Would you be able to recommend a fee only financial planner who could help …
Tax Audit: Saving Paperwork
Q: How many years should you keep your income tax returns in case of an audit? A: You should keep your tax returns a minimum of 7 years. The IRS can come back and audit you for any reason up …
Tax Implications of Inheriting a House
Q: My husband is 85. He is on 100 percent VA disability, plus homestead exemptions. Our home is paid for, and due to the exemptions we pay no taxes on it. If we deed our home to our children, but …
Prioritize Debt to Pay Off Debt Faster
Q: I have a fairly complicated situation but I’ll make it as simple as possible. I have some debt and I’m wondering how to prioritize it. I have a second loan from a past foreclosure for $32,000. I have been …
Settling Loan Debt With Lender
If a lender has a judgment against you, you can try to settle that debt before the lender garnishes wages or finds and gets your assets. Q: My sister and I purchased a boat slip several years ago, which we …
Short Sale Income and IRS form 1099-C
Sell a home in a short sale. You may have to pay taxes on the sale even if you lost money and may receive an IRS form 1099c Q: I formerly financed a property in Denver, Colorado that successfully underwent …
