Several strategies exists when it comes to providing inheritances to children. People loving giving advice. It seems everyone has an opinion about something. People especially love giving advice about parenting. According to a recent The Wall Street Journal article titled “When to Give Inheritance Money to Your Kids,” you may get conflicting messages about when your […]
Your planning may need to adjust to a new federal estate tax. Most people cringe at the mention of taxes. The exceptions would be those whose livelihoods depend on taxes like accountants, IRS agents, and other government officials. If your employment does not find you within one of these exceptions, incomes taxes, property taxes, inheritances […]
It can be hard to talk about estate planning with your parents. The relationship between parents and children is special. You were utterly dependent on your parents in your early life. At some point, your parents will depend on you. According to a recent Yahoo! Finance article titled “How To Talk to Your Parents About […]
The estate of Larry King underscores the importance of estate planning. Larry King had both highs and lows in his career and his personal life. Despite these challenges, he had an uncanny ability to persevere after mistakes and mishaps. According to a recent The National Law Journal article titled “Larry King Will Contest—Key Takeaways,” this […]
The federal estate tax is likely to affect more people under the President Biden administration. The estate tax threshold has been farm, ranch, small business, and entrepreneur friendly in recent years under President Donald J. Trump. The current threshold sits at $11.7 million for an individual and $23.4 million for a couple filing jointly. Any […]
A trust can serve several purposes in estate planning. When it comes to estate planning, trusts are versatile tools. Although many people consider trusts to be of value only to millionaires and billionaires, this is not accurate. Rather, the average American may find that a trust would best meet their estate planning goals for their […]
The act of disinheriting a child must be thorough. It is not uncommon for family relationships to undergo strain. Family members may become estranged and not see one another for decades. Other families simply suffer from diminished trust. Some children grow up. Other children ... just continue to have more birthdays. In short, not all […]
There are things you should not include in your last will and testament. You have recently inventoried your assets. Your list includes your real estate, your investments, your bank accounts, and your tangible property. With this step completed, you are ready to create an estate plan. According to a recent MSN Money article titled “Things […]
Joint accounts and beneficiary designations can be useful in estate planning. When you think of estate planning what comes to mind? You likely think of how it is portrayed in books or films. A character receives news of the death of a relative and how this character was named in the last will and testament […]
Choosing the wrong power of attorney could get you into trouble. Incapacity planning is important for any adult. If something happens to you and you cannot manage your financial and health care decisions on your own, you will need someone to do so on your behalf. This involves creating and signing a power of attorney. […]
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Overland Park Estate Planning Attorney Kyle Krull assists clients in Kansas and Missouri with Estate Planning, Wills, Trusts, Revocable Living Trusts, Charitable Planning, Asset Protection and Business Succession Planning in the greater Kansas City area including Overland Park, Leawood, Olathe, Lenexa, Johnson County Kansas and Jackson County Missouri.
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