Dear Liz: I have a living faith.
I also have some family members who have become estranged, and my priorities have changed regarding the charities I want to benefit from.
Is there a way to set up a trust that allows me to make these changes without paying a lawyer?
answer: Sure, you have the option of doing your estate planning yourself. But if you can pay for professional help, why wouldn't you? Estate planning is complex, and mistakes can be costly. That's especially true if you have disgruntled family members who may challenge your estate plan.
The good news is that updating a living trust is usually much less expensive than setting up the trust in the first place. As I mentioned in a previous column, you should consider having your trust reviewed by an attorney about every five years and when there are major changes in your life.
SS survivor benefits are only available to spouses or dependents
Dear Liz: My mother recently passed away. She had her teacher's pension and social security benefits. Am I eligible to receive a portion of her benefits? If so, what steps should I take?
answer: Social Security survivor benefits are intended to help dependents of deceased workers. Dependents include a spouse, minor children, and children with disabilities, but only if the disability began before she turned 22 years old. If applicable, please contact Social Security at 800-772-1213.
Similarly, pension survivor benefits are typically limited to spouses and dependent children. If your mother named you as a beneficiary, you may be eligible to receive a lump sum death benefit. Please contact your pension administrator for details.
Further advice
Liz Weston is a certified financial planner and personal finance columnist in the United States. Nerd wallet. Questions can be directed to 3940 Laurel Canyon, No. 238, Studio City, CA 91604 or by using the “Contact” form below. askrizweston.com.