December 15, 2013 |
Dear Liz: Both of our sons, ages 63 and 59, are currently unemployed. We are 93 and self-supporting with Social Security and my retirement benefits. We live in our own home and are able to handle all our expenses, even though my wife requires a companion for 12 hours each day. I believe we should financially aid both sons, to the limit of our ability, but my wife disagrees. They are the two main beneficiaries of our estate. Each one is scheduled to receive about $40,000 upon our deaths.
July 19, 2013 |
Dear Liz: My partner passed away a little more than a year ago. I inherited his 401(k) and life insurance. I opened an IRA in which to place the amount of the 401(k), but the company told me that after a year (which is now), I have to withdraw the money over five years. Is that really required? I'd like to be able to have it on hand in case of an emergency but at the same time save it for our 2-year-old son's college education. Answer: Since you weren't married, you don't have the option of treating this inherited account as your own. That would have allowed you to delay withdrawals until after you turned 70 1/2 , if you wanted.
June 22, 2013 |
The trouble started with the inheritance. Eight years ago, the economy was booming and Jane Osick was on solid ground. She had manageable student loans, a stable job and excellent credit. Then, in less than two years, she racked up $120,000 in credit card debt. How did a sensible schoolteacher dig such a hole? Blame it on the inheritance - a house she helped refinance when her mother was ailing and then remodeled after her mother died. "Looking back, what I should have done was stay out of it," said Osick, 48. "We should have let her lose the house, because what difference would it have made?
June 6, 2013 |
Academy Award winner -- and "Girl on Fire" -- Jennifer Lawrence will star in and produce "The Rules of Inheritance," Deadline Hollywood confirms. The film is an adaptation of Claire Bidwell's Smith 2012 memoir of the same title, about her parents' diagnosis of cancer when she was just 14. The memoir recounts Smith's coming-of-age and struggle with grief as she loses both parents within seven years and throws herself into romance, travel...
April 4, 2013 |
After the coffee. Before remembering to record NBC's "Hannibal. " The Skinny: For some reason my DVR didn't record "Modern Family" last night but it did capture some good discounts on QVC. You don't need me to tell you that today's headlines include a ton of coverage of Jay Leno and Jimmy Fallon. Also, LucasArts is going away and new episodes of "Arrested Development" will be here for Memorial Day weekend! Daily Dose: Now the British can start living their best life too. Discovery Communications and Oprah Winfrey are taking the OWN Network to Britain and putting its shows on the TLC channel there.
March 23, 2013 |
VATICAN CITY - As he begins work, Pope Francis will find a pile of files in his in-tray on sex abuse and squabbling cardinals. But he will also come across a thick dossier on the Vatican's secretive bank, which his predecessor, Pope Benedict XVI, tried to drag into the daylight after years of suspicion that it was a haven for money launderers. After struggling to get the Vatican onto a coveted European "white list" for clean banks, Benedict suffered a setback last year when his top manager, Ettore Gotti Tedeschi, was fired by the bank's board, officially for incompetence.