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.
Estate Plan: Is a Simple Will Enough?
Our estate plan is a will. Is that enough to make sure our son inherits? Q: I read about people putting their home in trust to avoid probate. Our estate plan is a simple will. Our house and everything we own, including our money and personal effects, is left to our son. I thought that [...]
Tax Sale Value
Tax Sale Value Is Confusing to Owner A reader is confused about how to value a property that was bought at a tax sale. Q: My former step-dad purchased a property in 2018 at a tax sale. Since my mother had already passed, I assumed he bought it in his own name. I’ve recently been [...]
Primary House Tax Break
Primary House Tax Break Wife's name isn't on the deed. Can they still enjoy the full $500,000 primary house tax break? Q: I have a question about the primary residence tax break. I am selling my primary home in Chicago that I’ve owned for about 30 years. I owned another property in another state and [...]
How Do I Avoid Lowering My Credit Score?
How Do I Avoid Lowering My Credit Score? Q: I am widowed, retired, love to travel and grateful I have the wherewithal to do so. I am looking at getting an airline credit card to take advantage of their 75,000 point offer that my daughter says is worth around $750. I already have way more [...]
Title Issues Cloud Estate
Title Issues Cloud Estate Step-daughter wonders why lender failed to add her to title and what she can do now Q: Early last year, my stepmom and I had a meeting with her loan company to figure out what the easiest way to pass her home to me when she died. I know nothing about [...]
Would a Credit Card Balance Transfer Help?
Would a Credit Card Balance Transfer Help? A reader wonders if California resident who is overspending could be helped with a credit card balance transfer. Q: I read your interesting article recently about the homeowner being in a rough spot after moving to Sonoma County, California and taking on debt. I assume the $30,000 debt [...]
Inherit Property by Will or Receive by Deed?
Inherit Property by Will or Receive by Deed? Is it better to inherit real estate or receive by a quit claim deed? Q: My mom has a condo in Delaware, but she and I both live in Maryland in our own separate homes. The home my mom lives in is in my sister’s name. Mom’s [...]
Where Do I Find a Transfer on Death (TOD) Instrument?
Where Do I Find a Transfer on Death (TOD) Instrument? Q: After my husband's death, my daughter went to pick up the deed to our house. There was a quitclaim deed that our old mortgage lender put in place with my signature on it. Also, I can't find the transfer on death instrument (TODI) either. [...]
Trusts: How to Handle a Home in a Trust
Trusts: How to Handle a Home in a Trust Q: My mom's home is in a trust. She passed away towards the end of last year. She lived in the home for over 20 years. Her trust lists her six grandchildren as the beneficiaries of the trust. We’ve found a buyer for the home who [...]
Power of Attorney and Elder Abuse
Power of Attorney and Elder Abuse COMMENT: You stated to a reader recently that it was unclear why the niece no longer had power of attorney (POA) over the aunt's house – and a conservator stepped in. As an advocate against guardianship abuse, a POA can be removed through the courts like a discarded traffic [...]