Wednesday, March 1

Q&A: IRS Penalty - Missed a Quarterly Tax Payment

Dear Liz: I just received a letter from the IRS informing me that I missed a quarterly tax payment last September with several resulting penalties. I made that payment with a check from a securities trust account that I don't closely monitor, so I didn't realize the check hadn't been cashed.

Show more...

Q&A: Who Is the Custodial Parent when Applying for Federal Student Aid?

Dear Liz: My ex-wife and I are about to start the financial aid process for our eldest child, who goes to college in the fall. My ex happens to have a higher income than me, and has asked me if I'd be willing to have different aid scenarios calculated based on our different incomes and assets.

Show more...

Q&A: Tax Benefit of Taking out a Mortgage to Fund Renovations

Dear Liz: My wife and I are both 66 and in good health. Currently we have about $1.2 million in IRAs. We're receiving about $80,000 a year from a pension and $110,000 in salary. We have been aggressive about reducing any lingering debt. So we think we are in good shape for me to retire within the next year or so.

Show more...

Q&A: What Renovation Projects Reap the Most Return When Selling?

Dear Liz: What renovation projects reap the most return when selling? Replacing windows and carpeting is what I had in mind.

Show more...

Q&A: alk Financials Before Getting Married

Dear Liz:My daughter is getting married in September. She recently confided that she and her fiance have never discussed their respective debts (if any), credit scores or financial goals.

Show more...

Q&A: uto-Payments Via Credit Card

Dear Liz: We've had three cases of credit card fraud. Each time, the credit card company issued new cards with new numbers and canceled the old ones (along with the fraudulent charges). We had nine monthly auto-payment authorizations set up, and we seethed at the fact that the card company would not offer to authorize our auto-payments via the new numbers.

Show more...

Q&A: How Can You Promote That Kind of Irresponsibility?

Dear Liz: Someone recently asked you about whether they were responsible for their mother's credit card debt, and at the end of your answer you suggested she talk to a bankruptcy attorney. How can you promote that kind of irresponsibility?

Show more...

Q&A: Student Loan Forgiveness

Dear Liz: You recently wrote about student loan forgiveness. After 15 years as a public defender, my wife was diagnosed with multiple sclerosis and could no longer pursue her career as a lawyer. She applied for forgiveness of the federal student loans she used to attend law school.

Show more...

Q&A: Am I Eligible for Social Security Survivor Benefits?

Dear Liz: My partner of 30 years recently died. Am I eligible for Social Security survivor benefits? I don't want anything I don't deserve, but if I'm entitled to something, every penny would be appreciated. I am 54 and make minimum wage.

Show more...

Q&A: Inheriting Credit Card Debt from a Spouse

Dear Liz:You've answered a number of questions regarding credit card debt when a person dies. But I haven't quite seen the answer I need.

If a spouse dies, and the remaining spouse is not on the credit card account, is it still the responsibility of the survivor to pay the card? Does the answer vary by state? Or is it a federal law?

Show more...

Q&A: Inheriting Credit Card Debt from a Spouse

Dear Liz:You've answered a number of questions regarding credit card debt when a person dies. But I haven't quite seen the answer I need.

If a spouse dies, and the remaining spouse is not on the credit card account, is it still the responsibility of the survivor to pay the card? Does the answer vary by state? Or is it a federal law?

Show more...

Subcategories

FoolProof Education

FoolProof Education is a highly interactive, self-grading group of online lessons called "Modules." The Modules teach consumers of all ages about money, financial responsibility and the realities of the free enterprise system.

High School, College & Home School Curriculum

Closely aligned to the Common Core standards and state personal financial literacy requirements.

Educate Yourself, a Friend or Family Member

Choose from a wide variety of topics. Start and stop and continue at anytime.