6 things to know about your spouse’s finances

Editor, Kiplinger's Personal Finance, and Janet Bodnar •
Kiplinger

Over the years most couples cobble together some sort of arrangement for sharing financial information. But beyond the everyday bill paying and budgeting, the following important documents are easy to overlook: Retirement plans. Make sure each of you knows about the other spouse’s employer pension plans, 401(k) accounts, IRAs, and Social Security benefit statements. Credit

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Paying taxes on a home sold after a spouse’s death

Kimberly Lankford, Contributing Editor, and Kiplinger's Personal Finance •
Kiplinger

[question]My husband died last year, and I’m selling our home. Do I still get to exclude $500,000 of home-sale profits from taxes, or am I limited to the $250,000 exclusion for singles? [answer]Surviving spouses may exclude $500,000 of home-sale profits from taxes if they sell the house within two years of their spouse’s death, as

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Smart financial moves for surviving spouses

Jane Bennett Clark, Senior Editor, and Kiplinger's Personal Finance •
Kiplinger

Debra Weekley was surprised but not especially concerned when her husband, Mark Cartier, failed to call her from the parking lot after his early-morning climb on Mount Hood, near their home in Portland, Ore. Nor was she worried when a friend called to tell her a climber was down on the mountain; Cartier, an accomplished

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