Loading
Find Us on Facebook Follow Us on Twitter Bookmark & Share Subscribe to Feed
Wanna join our 6011 other users? | Register
Menu 

Ask Liza: Everyday Estate Planning

  • Taxes and Beneficiaries: Estate, Income and Capital Gains

    Taxes and Beneficiaries: Estate, Income and Capital Gains

    Dear Liza: My aunt died recently, leaving her estate to me and my four siblings, in equal shares. She owned stocks and bonds, and some farmland in Iowa. Will I have to pay taxes on my share of the distributions? That’s such a good question! You are…
    - 8 days ago, 10 Jan 18, 11:09pm -
  • Who Gets the Life Insurance and How?

    Who Gets the Life Insurance and How?

    Dear Liza: My mother passed away recently and had everything, including her checking, savings, etc., in a living trust.  But one of her other insurance policies had my deceased father listed as beneficiary.  The insurance company is telling me the…
    - 45 days ago, 5 Dec 17, 12:37pm -
  • Reducing Capital Gains: Step-up in Basis, The Basics

    Reducing Capital Gains: Step-up in Basis, The Basics

    Dear Liza: My parents a house in 1995. They put the house in a trust in 1998 with me and my 2 brothers as beneficiaries. My dad passed away in 2007 and my mom in 2015. The house is now for sale . I’m not sure what the tax basis should be. That is…
    - 10 Sep 17, 8:57pm -
  • We refinanced. Did our house get taken out of the trust?

    We refinanced. Did our house get taken out of the trust?

    Dear Liza:  We are a married couple in our 40s with 2 kids with a living trust. Our primary residence is a part of the trust. We refinanced our primary residence a couple of months ago. We are not sure whether our house was pulled out of the tru…
    - 23 May 17, 8:47pm -
  • Why Does Met Life Need to Transfer an Annuity to the Estate?

    Why Does Met Life Need to Transfer an Annuity to the Estate?

    Dear Liza:  My father recently died.  My dad had a trust set up naming me as the trustee and my brother, sister, and I are to split my dad’s assets evenly.  I have set up a trust account at his bank (B of A) and have funneled funds into that tru…
    - 3 May 17, 12:38pm -
  • My Aunt Left Me a House, is Probate Required?

    My Aunt Left Me a House, is Probate Required?

    Dear Liza: My relative passed away and I am the only surviving close relative.  She left a will that listed me as the beneficiary of her real property.  Her only assets were a small house tax value, $37,500 and 2 joint bank accounts totaling $20,0…
    - 7 Dec 16, 6:18pm -
  • Do I Need a Tax Identification Number for a Trust After My Mom’s Death?

    Do I Need a Tax Identification Number for a Trust After My Mom’s Death?

    Dear Liza:  I’m an executor of a trust and was added as co-trustee on the trust while my mom was alive.  She is now at peace with dad. Can I now just distribute the funds per the trust without changing the trust first to an irrevocable trust and…
    - 23 Nov 16, 12:02pm -
  • Can I Put My House Into a Living Trust if There’s a Mortgage?

    Can I Put My House Into a Living Trust if There’s a Mortgage?

    Dear Liza: Can real estate that still has a mortgage on it be placed in a trust? Yes, you can place real property with a mortgage into a revocable living trust. That is, in fact, quite common. Most people, after all, don’t own their houses free an…
    - 20 Oct 16, 12:10am -
  • What Kind of Tax ID Do I Need for a Trust?
    Dear Liza: My parents both have recently passed away. They had a revocable trust.  What type if tax ID do I need?  I created one for the “Estate” type, but should I have made it for the “Trust” type? I am the trustee.  Getting a new tax id…
    - 18 Sep 16, 10:29pm -
  • Annual Gifts: $14,000 each to as many people as you’d like
    Dear Liza: If my mom gifts $14,000 to me and my 5 children and does this by writing each individual separate checks for $14,000 which are then deposited in each separate child’s account, will it also be deemed a gift to me if I am a joint owner? P…
    - 11 Sep 16, 10:27pm -

Bankrate: Frugal U

Simple Family Finance

  • Do Kids Really Cost $500,000? Raising a Child on a Budget

    Do Kids Really Cost $500,000? Raising a Child on a Budget

    Kids are expensive.  If you're a parent, I'm probably not telling anything you didn't already know.  But, the most recent statistics say that a single child can cost up to $500,000 to raise until the age of 18.  Yikes!Let's take a look at where…
    - 22 Apr 14, 6:30am -
  • 4 Deliciously Inexpensive Fall Recipes For You To Enjoy

    4 Deliciously Inexpensive Fall Recipes For You To Enjoy

    There are plenty of good reasons to love Fall, but its food has to be near the top of the list.  Tis the season for sales on apples, pumpkins, and plenty of squash.  As the weather turns brisk, soups begin to make a comeback, and warm, homemade bre…
    - 3 Oct 13, 8:45am -
  • The Pros and Cons of 4 Super-Duper Cheap Home Phone Plans

    The Pros and Cons of 4 Super-Duper Cheap Home Phone Plans

    In the last article we looked at cheap cell phone plans, but that's only half of the equation. Home phone service gets cheaper every year due to advances in technology. The internet has paved the way for nearly free phone service. We're going to take…
    - 5 Jun 13, 5:25am -
  • The Cheapest Cell Phone Plans for Every Type of Person

    The Cheapest Cell Phone Plans for Every Type of Person

    If you're like most of the civilized world, you have a cell phone and it's costing you a bundle. My wife and I have a cell phone that we pay $3.33/month for, but we only get 200 minutes for a 3 month period. For some people, that's enough. For others…
    - 2 May 13, 5:30am -
  • Why is my Electric Bill So High? 7 Ways to Save Electricity

    Why is my Electric Bill So High? 7 Ways to Save Electricity

    Saving money on your electric bill doesn't have to mean living in the dark. There are plenty of ways to slash your next bill without becoming Amish. We're going to look at 7 of the most effective methods and also determine whether unplugging applia…
    - 14 Mar 13, 5:30am -
  • Are LED and CFL bulbs worth the money? Don’t be left in the dark

    Are LED and CFL bulbs worth the money? Don’t be left in the dark

    As the president of the old fashioned light bulb fan club, I've always stuck my nose in the air and my fingers in my ears when people mentioned CFL and LED bulbs. But, recently, when I felt like my electric bill was getting out of hand, I decided to…
    - 21 Feb 13, 5:30am -
  • 23 Frugal Date Ideas Your Special Someone Will Love

    23 Frugal Date Ideas Your Special Someone Will Love

    Whether you're just starting to date, but can't rub two nickels together, or your spouse of 20 years is begging you for something other than Wheel of Fortune every night, I've come up with 23 frugal date ideas that your special someone will love. Va…
    - 23 Jan 13, 5:30am -
  • My 2012 Expenses Revealed! Every Penny Is Accounted For

    My 2012 Expenses Revealed! Every Penny Is Accounted For

    Here's a chance to peek behind the curtain. I'm revealing my expenses for 2012 in order to be as transparent as possible with my Simple Family Finance family, so come take a look at where my money ends up. simplefamilyfinance.com
    - 10 Jan 13, 5:30am -
  • The Absolute Simplest Trick to Improve Your Finances in 2013

    The Absolute Simplest Trick to Improve Your Finances in 2013

    There are plenty of ways to make or save money, but there's one that's easier than any other. If you're looking for a simple way to improve your financial outlook this year, look no further.simplefamilyfinance.com
    - 4 Jan 13, 5:30am -
  • 14 Ways to Simplify Christmas and Enjoy the Holidays

    14 Ways to Simplify Christmas and Enjoy the Holidays

    I LOVE Christmas. However, for every moment of joy it brings, 2 moments of stress and furstration often follow. So, what happened? I think Christmas has become too complicated...to convoluted. And I know I'm not the only one. So, here are 14 way…
    - 13 Dec 12, 5:30am -

The Family CEO

  • Found Money Report for April

    Found Money Report for April

    Happy Memorial Day weekend! I hope this post finds you relaxing with family and friends. This is one of my regular Found Money Reports, this time covering the month of April, 2017. You can find more info on what Found Money is and how I use it here.…
    - 27 May 17, 11:33am -
  • Found Money Report for March 2017: $1998

    Found Money Report for March 2017: $1998

    One of the most powerful strategies I’ve run across as a Family CEO is using found money to pay of debt and build savings. You can read about it here. I write these reports to let you know where we’ve found money, hopefully to inspire you to do t…
    - 3 Apr 17, 8:00am -
  • My Investing To-Do List

    My Investing To-Do List

    One of the benefits of writing a personal finance blog is that it keeps you focused. Since I returned to The Family CEO earlier this month I’ve had personal finance on the brain in a way I haven’t for a while, and one of the things that has come…
    - 31 Mar 17, 1:18pm -
  • $7689 in Found Money: April 2015 – February 2017

    $7689 in Found Money: April 2015 – February 2017

    When I made the decision to start blogging here at The Family CEO again, I knew that found money would be a big focus. It’s such a little thing to do – capturing any amount of money that isn’t part of your main income stream(s) and giving it a…
    - 6 Mar 17, 7:00am -
  • Hello Again

    Hello Again

    Tap, tap, tap…is this thing on? Is anyone still out there? It’s been nearly two years since I’ve written at The Family CEO, but recently I’ve felt compelled to check back in. When we last spoke, I told you that our family’s finances were o…
    - 4 Mar 17, 4:10pm -
  • That’s a Wrap

    That’s a Wrap

    Last week I started a conversation with Tom this way: “I need to talk to you about something, and it’s going to sound familiar.” If you’ve read this blog for any length of time, it’s going to sound familiar to you too. The something I neede…
    - 20 May 15, 5:17pm -
  • Teaching High School Students About Money

    Teaching High School Students About Money

    So this is cool. H&R Block, the tax services provider, believes that mastering financial matters is an important adult life skill, but that teenagers aren’t being prepared for the challenge. So the company developed a teen financial literacy progra…
    - 10 May 15, 1:10pm -
  • A Family CEO Job Description

    A Family CEO Job Description

    This blog began over nine years ago when I hired myself to make over my family’s finances. My theory was that if I treated our finances like a job, I could make as big of an impact as the real-life, outside the home, part-time job I was consider…
    - 5 May 15, 11:33am -
  • Found Money Update: Jan – Mar 2015

    Found Money Update: Jan – Mar 2015

    It’s time for another Found Money Update, and I’m making a change in the way I’m reporting things. Specifically, I’ll no longer be including my income from bookkeeping and blogging. Here’s why: I’ve had a couple of readers tell me that t…
    - 3 Apr 15, 10:55am -
  • 6 Ways to Spend a Tax Refund that You Will Thank Yourself for Later

    6 Ways to Spend a Tax Refund that You Will Thank Yourself for Later

    “Do something today that your future self will thank you for.” Are you getting a tax refund this year? It’s very unusual for us to get one because we’re self-employed; any refunds get applied to next year’s taxes. But this year, through a…
    - 31 Mar 15, 5:37pm -

The Family Finances

    The Guardian: Child Trust Fund

    • Junior Isas offer a better deal than child trust funds – switching is child’s play
      From 6 April it will be possible to escape an underperforming child trust fund, and it’s well worth your time to do soEaster Monday isn’t just “pensions freedom day” - it’s also when many of Britain’s youngest savers will be freed from th…
      - 4 Apr 15, 2:00am -
    • The countdown is on: move your child’s savings into an Isa | Melanie Wright
      More than half the parents whose children are eligible for Junior Isas don’t know that they will soon be allowed to transfer the money out of child trust fundsMillions of parents with savings in child trust funds (CTFs) will finally be able to move…
      - 23 Feb 15, 2:00am -
    • Bank of gran and granddad steps in as parents unable to provide financial help
      Report says one in six grandparents give cash because their grandchildren's parents can't afford to do the sameGrandparents have long been treasured for their contribution to pocket money and the sweetie jar – but the extent of the reliance on thei…
      - 20 Jun 14, 7:01am -
    • Child trust fund cash can be transferred to junior Isas, says Treasury
      Rule change from April 2015 covers six million more children's CTS accounts, allowing holders to benefit from better returnsMoney held in child trust fund accounts for more than six million children can be moved into junior Isas in future, after the…
      - 29 Dec 13, 2:00am -
    • Saving for children: where to do it and how to encourage them
      Even in today's tough times, parents are finding money to invest for their children's future. We look at the options with the best returnsTelling a young child that you are saving a pot of money which they will not be able to access until they are 18…
      - 28 Jul 13, 2:00am -
    • Move to allow transfer of child trust fund money into Isas
      Government recommends current rules be relaxed so that parents can opt to transfer the £4.8bn now held in CTFsParents who hold investments in child trust funds will be able to move the money into junior Isas to chase better returns for their childre…
      - 14 May 13, 12:19pm -
    • Child trust fund savers may soon be able to shift money into junior Isas
      Government confirms it will launch consultation on transferring savings between accountsParents with savings for their children locked into poor-paying child trust funds (CTFs) could soon have a more attractive option to consider. They may be able to…
      - 20 Mar 13, 3:15pm -
    • Hope for child trust fund savers as Osborne signals transfer to Junior Isas
      Budget 2013 report promises to look into changing system that has trapped families in poor-paying child trust fundsFamilies with child trust funds may soon be able to move the cash to Junior Isas after the government confirmed it would launch a consu…
      - 20 Mar 13, 10:34am -
    • How your Child Trust Fund could be wiped out by new charges
      Foreign and Colonial has imposed a £30 annual fee on its Child Trust Funds, with other players expected to followIs this another nail in the coffin for child trust funds? It emerged this week that thousands of children with CTF share accounts run by…
      - 16 Feb 13, 2:30am -
    • Junior Isas and CTFs: time to move your money
      It's in your interest to play the child savings ratings gameInterest rates on cash child trust funds and junior Isas vary hugely, so if your offspring has one, check what it is earning and be prepared to move your money if it's giving a rubbish retur…
      - 16 Feb 13, 2:03am -
    Recipe Test Nest
    Recipe Test Nest
    Recipe Test Nest
    Recipe Test Nest

    The Guardian: Family Finances

    • newPets and package holidays – how over-65s drive UK consumer spending
      Household expenditure on cars, holidays and pets drives recovery but signs emerge of a slowdownSpending by British households has returned to its pre-financial crisis levels in real terms, driven by purchases of cars and spending by older consumers o…
      - 20 hours ago, 18 Jan 18, 7:03am -
    • Quarter of UK's poorest households are getting deeper in debt, IFS warns
      Poorest households are spending 25% of monthly income servicing debts as UK borrowing rocketsOne in four of Britain’s poorest households are falling behind with debt payments or spending more than a quarter of their monthly income on repayments, ac…
      - 3 days ago, 15 Jan 18, 7:01pm -
    • Carrie Gracie: fearless leader of battle for equal pay at the BBC
      Her resignation as China editor, because of a lack of parity in salary with male counterparts, has provoked a debate about gender fairness and exposed deep divisions in the corporationAt the height of the expenses scandal in 2009, a little-known BBC…
      - 5 days ago, 13 Jan 18, 7:05pm -
    • UK inflation: four in five workers fear cost of living squeeze, survey finds
      Rising inflation, falling living standards and static pay fuel anxiety across all income bands, thinktank findsAnxiety over future job and pay prospects has become entrenched among UK workers against a backdrop of falling living standards, Brexit unc…
      - 7 days ago, 12 Jan 18, 9:54am -
    • May's reshuffle and universal basic income – Politics Weekly podcast
      Heather Stewart and Anushka Asthana discuss the cabinet shake-up, plus Sonia Sodha, Torsten Bell and Neal Lawson on the concept of a universal basic incomeIt was supposed to be a reshuffle to freshen up the cabinet. Instead Theresa May had an educati…
      - 8 days ago, 11 Jan 18, 10:51am -
    • UK consumers trapped in credit card debt for longer than thought
      Bank of England and financial watchdog found 89% of card debt was held by consumers also in debt two years agoBritish consumers are trapped by credit card debt for longer than previously thought, according to a study by officials at the Bank of Engla…
      - 11 days ago, 8 Jan 18, 11:22am -
    • What should I go for in my divorce settlement?
      I’m in a dilemma as to whether to go for the house, which I would rent out and then use the income to buy another property Q I am hopefully divorcing in the new year and am in a dilemma as to what to have in the divorce settlement. We own our house…
      - 11 days ago, 8 Jan 18, 6:11am -
    • Fat Cat Thursday and the changing world of work | Letters
      Tim Gossling says that automation means the old capitalist model is no longer viable; Albert Beale writes that our drive for ‘efficiency’ is creating an increasingly inhumane world; plus letters from Keith Flett, John Wilson and Christine Weaser…
      - 15 days ago, 4 Jan 18, 2:25pm -
    • Aldi gives pay rise after UK sales exceed £10bn for first time
      Salaries to increase by up to 4.6% at German grocer after Christmas sales surgeAldi is increasing pay for store staff after it enjoyed a bumper Christmas with sales up 15% in December.The German grocer said its sales in the UK and Ireland would excee…
      - 15 days ago, 4 Jan 18, 7:14am -
    • Why free hospital parking isn't as good as it sounds | Peter Walker
      It sounds like an inarguable idea – indeed the Daily Mirror and Jeremy Corbyn are in favour – but the more you look into it, the worse an idea it becomesThe Daily Mirror has an illustrious history of campaigning, most recently helping to persuade…
      - 17 days ago, 2 Jan 18, 3:00am -

    WSJ: Family Finance

    Shorts Fix

    About PopMuse

    A curated aggregation of musings from across the land and of different subject matters for the scanoholics.