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Tag: Estate Planning

Why You Might Actually Owe Taxes in 2018

Like many taxpayers, if you’ve already filed your federal income taxes for 2018, you may be surprised to discover you’re not getting a refund this time.  If so, this was almost certainly due to the sweeping tax overhaul made by the 2017 Tax Cut and Jobs Act (TCJA). Since personal tax rates were lowered by… Read more »

7 Events That Necessitate a Review of Your Estate Plan

Even if you put a solid estate plan in place, it can end up proving worthless if it’s not properly updated. Estate planning is not a one-and-done type of deal: It should continuously evolve along with your life circumstances. No matter who you are, your life will inevitably change: families change, laws change, assets change,… Read more »

Could an IRA Trust Benefit Your Family?

Unlike most of your assets, individual retirement accounts (IRAs) do not pass to your family through a will. Instead, upon your death, your IRA will pass directly to the people you named via your IRA beneficiary designation form. Unless you take extra steps, the named beneficiary can do whatever he or she wants with the account’s… Read more »

Overlooking This Basic Part of Your Estate Plan Can Be Tragic

The recent death of the CEO of QuadrigaCX, a major cryptocurrency exchange in Canada, demonstrates a basic, yet often-overlooked, tenet of effective estate planning: In the event of your incapacity or death, if your heirs don’t know how to find or access your assets, those assets are as good as gone. Indeed, it’s as if… Read more »

Reclaim Your Role as Your Child’s Primary Influence—Part 2

In the first part of this series, we discussed how today’s children are increasingly influenced more by their peers than their parents. http://rantala.com/blog/2019/02/05/reclaim-your-role-as-your-childs-primary-influence-part-1/ In today’s society, the once-unbreakable bond between parent and child is being increasingly eroded. This disconnect is wreaking havoc on children’s psychological development, while making parents feel powerless to get through to… Read more »

Reclaim Your Role as Your Child’s Primary Influence—Part 1

Have you ever felt that the unbreakable bond you once had with your children is seriously eroding? It can feel as if the very foundation of your relationship is falling apart. It may feel like you can no longer communicate with your kids. No matter how hard you try, your once-cooperative child is impossible to get… Read more »

Don’t Let Your Elderly Parents Become Victims of the Grandparent Scam

Imagine this… You are an elderly grandparent who lives alone. You get a call in the middle of the night from your college-aged granddaughter. She’s frantic and crying, telling you she was mistakenly arrested while vacationing in Cancun. She says she needs you to pay her $1,800 bond, or she’ll be transferred to a dangerous… Read more »

4 Estate Planning Must-Haves for Unmarried Couples—Part 2

In the first part of this series, we discussed the estate planning tools all unmarried couples should have in place.  http://rantala.com/blog/2019/01/09/4-estate-planning-must-haves-for-unmarried-couples-part-1/ Here, we’ll look at the final two must-have planning tools. Most people tend to view estate planning as something only married couples need to worry about. However, estate planning can be even more critical… Read more »