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I've been working with a financial planner that is affiliated with a reputable mutual life insurance company. He's recommending an overfunded whole life policy with maxed-out paid-up additions for tax-free growth but not too much so as to avoid a "MEC". My income level exceeds Roth limits (135k salary + 50k net rental income from properties valued @ 800k. I've got 25...
Submitted May 15, 2016
Hi, I hope you can help me. my 20 year marriage ended in divorce last year. The judge ordered that my ex should be allowed to stay on my health insurance. Last Friday I received a letter from my school district that because I still had the Ex on the insurance I was no longer qualified to be a part of the (pre-tax) group and starting this week I would be post...
Submitted May 13, 2016
I had recently submitted this question: I got divorced in Dec of 2015. I gave notice to my job within 30 days for life change events. They stopped the medical insurance premiums for him; but not a life insurance premium for him. It was one of those things that I was going to get to; but didn't. He was also my beneficiary in all my benefits; and I hadn't changed that....
Submitted May 9, 2016
I am successor trustee of an irrevocable trust. Can I appoint a successor trustee? The trust allows for me to appoint a co-trustee. I plan to do that if another successor trustee can't be appointed.
Submitted Apr 26, 2016
I'm currently deep in debt, with a high debt-to-income ratio. One of the cards on my report is actually my husband's AmEx card, but he added me as an authorized user when I was traveling for work (so I could keep my biz expenses separate from personal spending). It has a credit limit of $27,000 and a current balance of $22,000, but he just gave me access to about...
Submitted May 9, 2016
I currently have outstanding 401K loans at my current employer. I am exploring the possibility of leaving based on some current changes in the compensation of my current role. Is there any other options when it comes to paying off the balance in full within the first 60 days of leaving. Can I continue making the payments on a monthly basis? Thanks
Submitted May 8, 2016
I currently have a 30 year mortgage at a 4% interest rate with 24 years left. Currently pay $668 a month. Does it make sense for me refinance to a 10 year mortgage at a 2.875 % interest rate and pay $1175 a month. Closing cost expense is roughly $2,600. Side note: not sure how long I see myself living there. Until I get married and expand. Who knows how many...
Submitted Apr 25, 2016
Submitted Apr 29, 2016
Divorce & Taxes: In the course of a divorce spouses were ordered to file joint-married by submitting data to a CPA for certain tax years. (The divorce since was awarded.) One spouse has a schedule-C business and sent what amounts to a rats nest of papers to CPA. Per accountant spouse's data would not survive IRS audit because income is not backed up by...
Submitted May 1, 2016
Overwhelming Debt Crisis. I have over 53K in unsecured debt ( credit cards and personal loans), back taxes of 6k, and operating expenses per month of over 6 k. I feel like I can't get out of debt and see only 2 options: Increase multiple streams of income or debt settlement/bankruptcy. What can I do?
Submitted May 2, 2016