People must transfer property to others when they die. All humans come into this world with nothing of their own. Toys, clothes, and food are provided to them by their parents or gifted by other family and friends. As individuals go through life, they may purchase a vehicle, a home, furniture, jewelry, and art. Bank […]
Dead people cannot own a bank account. How assets are treated when you die depends on your forethought and goals. The fate of property can be complicated and confusing. With proper estate planning, the transfer can be straightforward. According to a recent Motley Fool article, "Here's What Happens to Your Bank Account When You Pass […]
Dying without a last will causes many complications. Death is inevitable. Despite this fact, many people choose to act as if ignoring this fact will somehow alter reality. This denial can reduce uncomfortable thoughts and emotions for a time, but it is not sustainable and can have negative impacts. According to a recent The Wall […]
Rapper Coolio died without an estate plan. Many celebrities die without preparing for the transfer of their wealth. When this happens, it can leave their estates vulnerable to taxes and even greedy folks wanting to cash in on their wealth. One recent celebrity who died without an estate plan was Artis Leon Ivey, Jr. who […]
Power of attorney laws may not look the same in each state. Accidents happen all the time. Sometimes, they are small and only a minor inconvenience. At other times, accidents and illness can lead to short-term or long-term incapacity. According to a recent limaohio.com article titled “When ‘anything and everything’ does not mean anything and […]
Passing a vacation home to the next generation is rarely straightforward. A vacation home fills a variety of roles. For a lot of my clients, they are places to gather with family and friends to make memories. For others clients, they provide a retreat from the demands of daily life. And for yet others, a […]
An updated estate plan ensures your assets are distributed to desired heirs and much more. The world we live in requires constant updates. Understatement, yes? Phones, computers, and apps make changes and improvements to their systems. Often failing to update operating systems means your device loses functionality and security. According to a recent CNBC article […]
Distributing assets through probate is more complicated without an updated last will and testament. Many things should be accomplished within a specific window of time. Winter wheat must be planted in the fall and harvested in the summer. Health insurance must be renewed or plans changed during open enrollment. Estate planning documents should be created […]
Failing to designate a beneficiary on your accounts can cause problems for your estate. Assets come in all shapes and sizes. While some assets like a house take up significant physical space, others are held in accounts. Whether these accounts are bank accounts, retirement accounts, or investment accounts; it is likely each of these has […]
The probate process does not have to be scary. Few Americans understand probate. In fact, some adults are not even aware of its existence. Perhaps this is because probate highlights an unpleasant reality. It reminds people of their own mortality. According to a recent WTOP article titled “Everything You Need to Know About Probate,” the probate […]
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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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