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Question: Dear Luise: How does the IRS 8b payout work? K. Answer: Dear K.: I am not well informed on tax law. You may find what you want at: http://www.irs.gov/irm/part7/irm_07-020-008.html Blessings, Luise

Question: Dear Luise: Subscribe to a few income/investment sites and have received several mentions lately about using the “IRS 8b payout” allowed by seven (7) states to avail oneself of tax-free money.  Do you have any knowledge of this? G. Answer: Dear G.: I am not well informed on tax law. You may find what [...]

Question: Dear Luise: I currently have $16k in credit card debt on three cards(7k, 6k and 3k). The company I work for has just been bought out and I received a pension from them.  The check was for $9,200(11k-fed. taxes) and I want to use it towards my debt.  I’ve seen so many ads for [...]

Question: Dear Luise: My husband and I want to make a will. We have three wonderful children that we love very much. The problem is that we don’t want to leave anything to our daughter-in-law. I don’t know of any other way we can do that unless we leave our son out of the will. [...]

Question: Dear Luise: I am sorry, but I have three major questions. The first is as follows:  My grandparents and I were really close. Mother and I were semi-close, and my brother and I really close. Despite the favoritism shown by my Mom and Dad, I truly loved my brother, even after I found out [...]

Question: Dear Luise: My wife and I came into some money upwards of 12 million from a trust fund her parents set up. We have 3 kids, ages 10yrs, 7yrs,and 6 yrs and have only been married for 7 months.  We do not want to be “typical” with this money; however our top priorities are: [...]

Question: Dear Luise: Should I lease or buy a good used car.  Currently, I have a one year lease through the VW employee plan (dad a retired VW employee). I have been doing this for three years.  Every year I get a new car in March.  Currently, I have a 2009 Jetta. It costs $223 [...]

Question: Dear Luise: When funds in a mutual fund or 401k plan loses money what are the financial ramifications of moving monies to different type of fund within the same company? The basis for this question is as follows: My wife feels if we move the money, or balances in one fund to a different [...]