We cover the basics and more about personal finance, answering frequently asked questions about credit and debt, identity theft, saving for college, retirement, estate planning, insurance, taxes, job hunting, and raising money-savvy kids. Check out the articles, columns, blog posts, radio shows and videos for tons of personal finance advice.
Calculating Capital Gains
Calculating capital gains on sale of a home is tricky. Especially if you've made improvements to the property. Not everyone enjoys calculating capital gains on the sale of a home. It requires keeping close track of the cost of improvements made to the property over the years. Over the past few weeks, we’ve fielded a [...]
Who Can Help Me Plan For My Financial Future?
"Who can help me plan for my financial future?" is the question of the week. Building a home-buying team will help you buy the right house, whether you're a first-time buyer or trading up into a larger home. Building your financial future requires more. Q: Who can help me plan for my financial future, including [...]
How Much Does it Cost to Own a House?
How much does it cost to own a house? Inheriting a house that you haven't lived in may mean you'll face unknown expenses. What else can you do? Q: My widowed sister owns a modest home in DuPage County, Illinois. It’s entirely paid off. Her intent is to leave her house to me–she has no [...]
Is There a Tax on Cash?
Is there a tax on cash? What about a cash inheritance? How do I understand what tax my father-in-law owes on his cash? Q: My wife's father is close to death and he has moved all of his investments into his bank in the form of cash. He said that was done to help my [...]
What if I have no heirs?
What if I have no heirs? A reader doesn't love his family enough to leave them his assets. Now what? Q: What choices are there for a person with no immediate heirs, who doesn't want the house and other assets to go to the cousins? Who or what can inherit? What happens if a person [...]
Money and Credit Resolutions for 2022
As we move into Year 3 of the Pandemic, America's personal finances seem to have improved. With that in mind, we offer some Money and Credit Resolutions for 2022. Sign up for Ilyce Glink's Love, Money + Real Estate newsletter for access to more stories like these. Here’s a guess: there aren’t many of us [...]
Should I set up a trust or use a transfer-on-death (TOD) deed?
Should I set up a trust or use a transfer-on-death (TOD) deed or instrument? That's what one of Ilyce's readers wrote in to ask how she should manage her estate. To read more Q&A like this one, sign up for Ilyce Glink's Love, Money + Real Estate newsletter. Should I set up a trust? Q: [...]
Should Parents Split an Inheritance Equally? Not Always
Should parents split an inheritance equally? Not always. There are many reasons why you might not want to treat all children equally. Read more: Sign up for my Love, Money + Real Estate newsletter. Should parents split an inheritance equally? One of our readers sent in this question: Q: My mom is in her 90s, [...]
Should I give my kids the house even if they won’t speak to me?
Should I give my kids the house even if they won't speak to me? When this question came in, it made me incredibly sad. When it comes to families, issues relating to Love, Money + Real Estate abound. In this case, the house represents so much more than four walls, a ceiling and a floor: [...]
Should My Wife Take Social Security At Age 62?
Should a reader's wife take a Social Security benefit at age 62? What happens to the Social Security Spousal Benefit? Here's this week's Question and Answer about Social Security. Should my wife take my Social Security benefit? Q: I would like your opinion on a Social Security question we have for my wife. First, I’ll [...]