Many celebrities have failed at estate planning. It is common for Americans to be envious of celebrities. Their talents, money, and influence can be quite appealing. Although the life of a celebrity may appear glamorous, they too have their struggles. According to a recent Forbes article titled “Lessons to be Learned From Failed Celebrity Estates,” […]
There are many reasons to review and update an estate plan. Paying attention to expiration dates is important. This can save you from unwittingly poisoning yourself from outdated food. It can also ensure your medications are still potent. Although your estate plan will not have an expiration date on your documents, it will have a […]
A family-owned business will likely fail without a business succession plan. You run a family-owned business. Serving your clients or customers brings you both joy and income. In fact, your business is your most significant financial asset. This means you have much to lose through life events, whether disability, retirement, or death. According to a […]
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 […]
Having an ethical will allows you to pass on more than assets. Death can come as a surprise. A global pandemic has underscored this reality. Even when people are fortunate enough to have loved ones at their bedsides when they pass away, much is still left unsaid. According to a recent The Wall Street Journal […]
It may be challenging to provide care for a parent from a distance. Many families no longer live near each other. Jobs opportunities (or requirements) have taken adult children far from home. Perhaps you are one of these adult children. Now your parents are aging and need your help. You are not sure how to […]
A letter of instruction allows you to provide helpful information to those handling your estate. You have your estate plan in place. The documents created by your estate planning attorney provide the courts or trustees with the essential instructions for the administration and distribution of your assets. Even so, you have thought of additional information […]
You should customize your estate plan to meet your unique needs. Is anything truly one-size-fits-all? There are reasons why most clothing comes in different sizes. People come in all different shapes and sizes. Consequently, they have different clothing needs. According to a recent The News-Enterprise article titled “Don’t settle for a generic estate plan,” people also […]
There are certain times in life when you should update your last will and testament. If you already have a last will in place, you have done more planning than the majority of your fellow Americans. Although you can certainly congratulate yourself, do not become overly confident. Your last will needs to be reviewed and […]
Discussing estate planning with your parents cannot wait. Your parents have assets. They own a home. They have a retirement account. They have life insurance. The problem? They do not want to talk about estate planning. According to a recent Kiplinger article titled “How to Get a Loved One to Visit an Estate Planning 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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