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Our primary assets include the equity in our house and car. My only investments are in IRA's. I am retired and married. Our homeowners policy includes coverage for personal liability of $300,000. Our checking account balance averages $4,000 to $5,000 to pay Visa in full each month for normal charges as well as recurring bills charged to the card. QUESTION: ...
Submitted Aug 9, 2016
I'm a 19 year old college student and I'm interested in saving up. I've heard about things such as Roth IRA's and CD's but I'm not sure if I'm too young to be getting these these? What kind of savings do you suggest for someone my age? How much of my paycheck should I be putting aside each month?
Submitted Aug 10, 2016
Hi, Upon her death, my mom gifted me and my 2 siblings an IRA and an Annuity. What is the best way to remove the money in these accounts to save on taxes? Thanks, Susan
Submitted Aug 15, 2016
My son passed away He left two children life insurance It was being held in trust until they became of age I asked insurance company to send a statement of earnings if any To date, nothing was sent: 1. HOW do we get that info? 2. My fear is: If mother cashed in policy as the children's guardian, who audits her...she may be spending the benefits on herself...
Submitted Aug 4, 2016
I am a benifiary of my fathers group life insurance policy. My father recently passed and the insurance company is only paying out a fraction of the death benefit. Do I have the legal right to obtain a copy of the actual policy to determine why the death benefit has been reduced?
Submitted Aug 2, 2016
I have designated specific charities as beneficiaries to non-qualified annuities that I have had for many years and have increased in value from the investments. My question is, will the beneficiary payouts be taxed before being paid to the charities? That is, will there be an estate tax consequence? I understand that if I gift an annuity to a charity while I am...
Submitted Jul 29, 2016
can I purchase life insurance for purpose to turn around & sell to obtain money for retirement. If so, how do I do this?
Submitted Aug 15, 2016
I'm retired and working part time. My regular income is 1200 dollars a month. I have 400 coming in bimonthly and I haven't saved a cent. In fact I'm broke. I only have sixty dollars left. I've tried to budget and buy on sale. My credit was destroyed by Credit cards and I was wondering how to get my credit back up and how I live without a credit card?. I know allot...
Submitted Jun 26, 2016
What are the tax concerns for me or my grandchild if I set up a Spendthrift Trust and my lifetime exclusion ($5.43M) has already been met. One thought I had is if I fund the trust and pay the 40% gift tax, the trust, effectively, becomes hers and any payouts from the trust principal will be not taxed. I understand the trust will be responsible for paying the income...
Submitted Jul 17, 2016