Our Commentary

 It’s true that the economy and job market are improving yet the pace of the recovery remains slow.  Certain sectors such as manufacturing remain weak and job losses continue.  If you lose your job or know someone who recently lost his or her job, here are ten things to do immediately. Decide on health insurance.  […]

 I was recently brought into a case involving the second marriage for a couple who were in their seventies.  They had the foresight to set up a prenuptial agreement that outlined a minimal division of assets at the time of death or if the marriage failed.  It appeared the couple had taken the appropriate steps […]

Reader Question:  My home is paid for except for a $40,000 home equity line of credit.  We are considering taking out a mortgage on our home to take advantage of the 2.5% interest rates and using the proceeds to buy a beach condo.  Is this something you would recommend for an investment?  T.G. Answer:  Beach […]

 Reader Question:  My dad deeded his house to my sister and me in 2004 with a deed that had a life estate for him until he died.  He died last March.  We were able to sell his house a few months after his death.  Will the basis for the sale be what he paid for […]

 Reader Question:  In a prior column, you mentioned an exemption from the State of Alabama property tax on your primary home if you are age sixty-five or older.  I’m sixty-five and my wife is sixty-one.  Since the deed is in both of our names, would we qualify for the exemption?  B.M. Answer:  Yes.  Only one […]

 Reader Question:  I am 52 years old and would like to retire soon and we have our home and all property paid for with $1.5 million in savings. We have cash value life insurance policies which are requiring payments every year. Should we keep them as an investment or cash them out? Answer:  First, congratulations!  $1.5 […]

 Reader Question:  In a previous column, you discussed the exemption of tax on the profits for the sale of a personal residence ($250,000 for single filers; $500,000 for couples).  My questions are, “Do you include the costs of upgrades/renovations in addition to what you paid for your home?  And if there is a taxable profit, […]

When the economy tanks and unemployment rises, so does petty crime.  This has certainly shown up in my community in the form of home and vehicle break-ins.  Being robbed of your possessions is not the end of the world but it’s pretty disturbing and an unwanted distraction.  I recently became a victim when someone stole […]

 Reader question:  I plan to retire in the next 5-8 years at 58 years old and expect to have approximately $800,000 in my 401K plan.  I originally planned to move my 401K plan into a traditional IRA so I could have more control and more investment options.  However, I do not expect to need it […]

  With the generational bear market that began in October of 2007 we saw U.S. stocks, as measured by the S&P 500, drop 57%. The market bottomed out in March 2009 and since that time we have experienced a four-year bull market that brought the U.S. stock market to an all-time high. If you fear that […]