Managing your personal finances during COVID-19. How those who are struggling can utilize COVID-19 relief programs and prioritize bill payments. The economic fallout from the coronavirus pandemic is putting an unprecedented strain on Americans’ finances. Half of those who were laid off due to COVID-19 remain unemployed and most workers who lost wages are still [...]
Does a quitclaim deed override a will? This reader wants to know which document is used to determine who inherits the property of a friend who passed. Q: My friend filled out a will before she married her last husband. She owned a house and when she married she did a quitclaim deed with her [...]
COVID-19: unemployment and the mounting financial crisis. Understanding how people live paycheck-to-paycheck and the implications of extended unemployment. Q: In your recent column in the Washington Post, it was stated that “nearly 80 percent of Americans were living paycheck to paycheck before the pandemic…” I want to know how do you define living paycheck-to-paycheck when [...]
How can you help better protect yourself against identity theft? The Coronavirus/COVID-19 pandemic has presented new opportunities for identity thieves and other bad actors to use the stress of the current environment to their advantage. With no concern for your financial well-being, thieves can use stolen information to run up balances on credit cards or [...]
How do you change a deed from tenants in common to joint tenants? This homeowner also wants to know if it will trigger any adverse tax consequences. Q: My wife and I purchased a home over 40 years ago. The original deed is titled as John Smith and Sally Smith. This defaults to tenants in [...]
Revocable vs irrevocable trust: which is better. The difference between revocable and irrevocable trusts and the purpose each serves in estate planning. Q: I am divorced and have two grown daughters. I am placing my house in a trust. My attorney is recommending an irrevocable trust. Which do you prefer, revocable or irrevocable and why? [...]
Is summer canceled because of the COVID-19 pandemic? Not exactly, but some summer events and activities can’t happen while social distancing is in effect. This summer, things are going to be a bit different. The coronavirus pandemic and the social distancing efforts to limit its spread mean that summertime events that draw big crowds are [...]
How Will COVID-19 impact retirement planning? New research finds older Americans might have to delay retirement due to the coronavirus pandemic. The financial fallout from the coronavirus pandemic is already devastating to millions of consumers. More than 40 percent of Americans say their level of financial security has deteriorated since the COVID-19 pandemic began. Around [...]
Coronavirus stimulus checks 2020: will it be enough? How to check your eligibility and how Americans plan to spend their stimulus checks from the CARES Act. The first round of Economic Impact Payments, the coronavirus relief stimulus checks included in the CARES Act, were deposited last week. That’s good news if you got yours and [...]
Is it smart to prepay your mortgage? These are the three different approaches to paying your mortgage that work for homeowners and investors. Q: I'm 83, have no mortgage, pay my credit cards in full each month and have no car payment. When I first started out in 1961, I bought a 52 chevy for [...]
