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Tag: Trusts

7 Processes to Complete With Your Parents Before They Die

In a recent Facebook post “Processes to go through with your parents before they die,” Daniel Schmachtenberger, founder of the Critical Path Institute, outlined seven simple exercises to use with your parents that can offer significant healing and completion for their life and yours.  While Daniel shared these processes in the context of the impending… Read more »

Seniors and Their Families Should Be Wary of Reverse Mortgages—Part 2

In the first part of this series, we discussed the dangers of reverse mortgages for senior homeowners. Here, we’ll look at how these complex loans can negatively impact your family and estate plan. http://rantala.com/blog/2019/06/25/seniors-and-their-families-should-be-wary-of-reverse-mortgages/ For decades, reverse mortgages have been touted as an easy way for seniors to access extra money during retirement. Indeed, there… Read more »

Seniors and Their Families Should Be Wary of Reverse Mortgages

If you’ve watched TV lately, you’ve likely seen ads touting the benefits of reverse mortgages. The spots typically feature famous actors like Henry “Fonzie” Winkler, Robert Wagner, and former U.S. Senator Fred Thompson telling elderly homeowners how they can dramatically improve their retirement with a reverse mortgage.  But what the ads don’t show is that… Read more »

The Real Cost To Your Family: Relying On A Will Alone

Whenever the topic of estate planning comes up, people invariably mention creating a will. And with good reason—having a will is a foundational aspect of your estate plan. However, a will is only one small part of effective planning. In fact, if your plan consists of a will alone, you’re guaranteeing your family will have… Read more »

Avoid These 2 Common Causes For Dispute Over Your Estate Plan—Part 2

In the first part of this series, we discussed one of the most frequent causes for dispute over your estate plan. Here, we’ll look at another leading cause for dispute and offer strategies for its prevention. http://rantala.com/blog/2019/06/04/avoid-these-2-common-causes-for-dispute-over-your-estate-plan-part-1/ No matter how well you think you know your family, you can never predict how they’ll behave when… Read more »

Avoid These 2 Common Causes For Dispute Over Your Estate Plan—Part 1

No matter how well you think you know your loved ones, it’s impossible to predict exactly how they’ll behave when you die or if you become incapacitated. Of course, no one wants to believe their family would ever end up battling one another in court over inheritance issues or a loved one’s life-saving medical treatment,… Read more »

Have a ‘Blended Family’? Learn From Tom Petty’s Mistakes: His Daughters and Widow Are Now Locked In Bitter Battle Over His Estate

This week Tom Petty’s daughters escalated the battle over their late father’s estate by filing a lawsuit against Petty’s second wife that seeks $5 million in damages. In the lawsuit, Adria Petty and Annakim Violette, claim their father’s widow, Dana York Petty, mismanaged their father’s estate, depriving them of their rights to determine how Petty’s… Read more »

4 Ways Wise Planning Can Protect Your Family’s Assets

While most people assume only the uber wealthy need to worry about asset protection, those with less wealth and fewer assets may be at even greater risk. For example, if you’re a multi-millionaire, a $50,000 judgment against you might not be that big of a burden. But for a family with a modest income, home,… Read more »

3 Warning Signs of a Financial Scam

Nobody likes to admit they’ve fallen for a financial scam, but the fact is, it’s easier than ever to get caught up in one. This is especially true in today’s all-digital world, where practically every shred of data related to your personal and financial background can be found online.  While no one is forcing you… Read more »

The Real Cost To Your Family: Not Planning For Incapacity

When it comes to estate planning, most people automatically think about taking legal steps to ensure the right people inherit their stuff when they die. And these people aren’t wrong. Indeed, putting strategies in place to protect and pass on your wealth and other assets is a fundamental part of the planning equation. However, providing… Read more »