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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…
    - 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…
    - 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

  • What Are Some Common Examples of Wrongful Death Cases?

    What Are Some Common Examples of Wrongful Death Cases?

    Losing a loved one is one of the most painful things a human being can experience. Grieving does help ease the pain, as does time, but there are things that can make the pain more severe. One such thing is the circumstances surrounding the death of y…
    - 4 days ago, 26 Nov 20, 1:09pm -
  • Saving Money With a More Efficient Heating and Cooling System

    Saving Money With a More Efficient Heating and Cooling System


    - 8 days ago, 23 Nov 20, 11:56am -
  • 7 Parenting Hacks for Raising a Large Family

    7 Parenting Hacks for Raising a Large Family

    According to the 2019 American Community Survey, the average family size has grown from 3.20 in 2007 to 3.23 in 2019. While this means families are growing, large families are still the exception from the rule. If you have a large family, your life i…
    - 11 days ago, 19 Nov 20, 3:52pm -
  • 5 Sneaky Ways to Save Money Shopping Online

    5 Sneaky Ways to Save Money Shopping Online

    There is no reason why online shopping has to be pricey and expensive. There are tons of things you can do in order to get discounts or save money when shopping online. The trick here is learning about all the tips of online shopping, and then using…
    - 15 days ago, 16 Nov 20, 9:00am -
  • How to Simplify and Declutter Your Home and Make Money While Doing It!

    How to Simplify and Declutter Your Home and Make Money While Doing It!

    People start saving things little by little and whenever you least expect it, your house is full of stuff you don’t use and don’t need. Decluttering your home can be a great process, as not only are you taking stuff out that you no longer need, b…
    - 29 days ago, 2 Nov 20, 9:00am -
  • DIY Front Door Makeover: 4 Ways to Totally Transform Your Front Door

    DIY Front Door Makeover: 4 Ways to Totally Transform Your Front Door

    Home transformations don’t have to be super expensive or over the top renovations, they can be quite easily done by yourself. A quick home transformation that most people opt for is changing out their front door completely, this even gives your hom…
    - 43 days ago, 19 Oct 20, 9:00am -
  • 4 Strategies to Manage Irregular Income

    4 Strategies to Manage Irregular Income

    Some people don’t make as much money as they would want, and they often find themselves in need of more money. When money is limited, everything else in your life seems like it is too; Nevertheless, whatever your income might be, there are numerous…
    - 57 days ago, 5 Oct 20, 9:00am -
  • Tips to Learn How to Get Out of Debt

    Tips to Learn How to Get Out of Debt

    Financial troubles often call for loans, and when people least expect it, these loans turn into debts. As everyone knows getting in debt is way easier than getting out of it, but this doesn’t mean that it is impossible. People often wish they could…
    - 71 days ago, 21 Sep 20, 9:00am -
  • 5 Super Simple Ways to Save Money

    5 Super Simple Ways to Save Money

    People always struggle to find ways to save money, they feel that with some many expenses upon them, ending up with some savings is nearly impossible. The truth is that there are a lot of ways people can be saving money in their day-to-day routine, t…
    - 85 days ago, 7 Sep 20, 9:00am -
  • How To Get The Whole Family Involved in Charity

    How To Get The Whole Family Involved in Charity

    Getting Involved in charity is always a must, there is no reason why you shouldn’t help the less fortunate ones. Not only is it important as a person to get involved in charity, but also as a head of a family you need to involve your entire family…
    - 17 Aug 20, 9:00am -

The Family Finances

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    The Guardian: Family Finances

    • Why cashing in a pension pot as Covid bites should be a last resort
      It has become a quick fix for more over-55s, but it can come at a high price in retirement, writes Shane HickeyAs the pandemic continues to cause financial strain across the country, some people are taking a drastic step to shore up their finances by…
      - 16 days ago, 15 Nov 20, 4:00am -
    • Financial first aid: how to make it through the second Covid lockdown
      Coronavirus has hit jobs and pay – here’s what to do if you’re struggling with bills, mortgage or rent, loans and other costsCoronavirus – latest updatesSee all our coronavirus coverageWith much of the UK in lockdown and many businesses force…
      - 24 days ago, 7 Nov 20, 3:00am -
    • Covid help extended for self-employed people, but some miss out
      UK government revised measures amid further restrictions but many people are still out of pocketCoronavirus – latest updatesSee all our coronavirus coverageThe UK government has pledged £7.3bn in a refreshed package of support for self-employed pe…
      - 25 days ago, 6 Nov 20, 8:00am -
    • New lockdown, same economic victims: young, low-paid workers
      Low-paid workers are most at risk of losing their jobs or being furloughed on less than the minimum wageAs far as the labour market is concerned, lockdown 2 will be the same as lockdown 1: the main casualties will be young, low-paid workers employed…
      - 27 days ago, 3 Nov 20, 1:17pm -
    • What England's second lockdown means for your finances
      Where you stand with mortgages, furlough scheme, holidays and more during Covid crisisCoronavirus – latest updatesSee all our coronavirus coverageWith England going into another lockdown on Thursday, the Treasury and the City regulator have stepped…
      - 28 days ago, 2 Nov 20, 1:03pm -
    • Payment holidays are ending in the UK – but there are options
      Mortgage, credit card and loan schemes are finishing, but help is availableMillions of UK borrowers have been granted payment holidays since the start of the coronavirus pandemic but 31 October is the official end date for the schemes covering mortga…
      - 32 days ago, 30 Oct 20, 8:30am -
    • How newly unemployed over-50s can start-up again
      Obstacles litter the career path for older workers either looking, or having to, start again. But help is at handMax Wallace, a former professional boxer with an interest in art, wants to set up his own wellbeing centre. Sunil Jindal plans to set up…
      - 57 days ago, 5 Oct 20, 1:00am -
    • Rishi Sunak's winter plan - here's how it will affect you
      What the new job support scheme and help for the self-employed means for workersThe chancellor unveiled a winter plan on Thursday which included schemes to protect what he referred to as “viable jobs” over the next six months. These include a job…
      - 67 days ago, 25 Sep 20, 10:09am -
    • Can you cancel Christmas and get your money back? | Patrick Collinson
      From downsized turkeys to travel refunds, there are many ways to make the most of an uncertain festive seasonCoronavirus – latest updatesSee all our coronavirus coverageThe earliest, and weirdest, start to Christmas is upon us. John Lewis began sto…
      - 67 days ago, 25 Sep 20, 2:00am -
    • Divorce and will-writing demand during Covid-19 lockdown boost Co-op profits
      Divorce inquiries surged by 300% and will-writing demand rose by 69% during pandemic, says mutual Demand for will-writing services rose by 69% and divorce inquiries soared by 300% as the coronavirus lockdown led many to consider their mortality and t…
      - 74 days ago, 17 Sep 20, 2:56pm -

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