I inherited my father’s home along with my siblings, but the upkeep and taxes are too high. How can I get rid of this property without angering my family?

I inherited my father's home along with my siblings, but the upkeep and taxes are too high.  How can I get rid of this property without angering my family?

My father gifted his house to his four children too late to be able to qualify for Medicaid (it was inside the 3-year window) and pay for his nursing home. Three of my siblings took a HELOC to pay his bills and keep the house. I did not have the same desire. I paid off … Read more

Are you planning FOMO travel that you can’t afford?

Are you planning FOMO travel that you can't afford?

Views from a tower in Portugal, gondolas in Venice, beaches in the Bahamas — as you scroll through your social media feeds, it seems like everyone you’ve ever met is on a picturesque vacation this summer. Compared to the last two years, 2022 is seeing a steep increase in travel, especially international, and it may … Read more

How one retired couple is finding adventure working and volunteering at home and around the world

How one retired couple is finding adventure working and volunteering at home and around the world

After a particularly stressful workweek, Jane Tafel told her husband, Mark, “I just don’t want to work this hard anymore.” She had a rewarding job as vice president of development at a community and workforce nonprofit in Minneapolis. Still a couple of years shy of 60, she planned to work indefinitely. But she often found … Read more

Selling a vacation home that’s gone up in value? A Section 1031 exchange is one way to avoid a tax hit

Selling a vacation home that's gone up in value?  A Section 1031 exchange is one way to avoid a tax hit

Say you own a highly-appreciated vacation home that you’re ready to unload for whatever reason. If you simply sell it, you could face a whopping big income tax bill. See my earlier column on that unfortunate outcome. Ugh. But if you’re still bullish on real estate and not a fan of paying taxes unnecessarily, you … Read more