Guidance in an estate plan does not have to be legally binding. So sometimes, being imprecise is not a big deal. For example, recipes often say “salt and pepper to taste,” giving the cook room for personal preference. Other times, it can lead to incorrect results, like adding too much baking soda or baking powder […]
Single parents cannot afford to neglect estate planning. Parenting is a significant responsibility. For single parents, the roles of provider, mentor, teacher, and protector rest solely on their shoulders. Although losing any parent is tragic to children, the death of a single parent often leaves them orphaned. According to a recent The Orange County Register […]
Estate planning is fraught with myths. What people believe influences what they do. For example, children who think monsters are under their beds tend to avoid their rooms at night. When doctors believe their patients have specific ailments, they order certain tests. If people believe integrity is important, they will not speed on a road […]
Anxiety has led to an increase in estate planning. As a result, a lot has changed since the start of 2020. A once-strong economy is now racked with inflation. The COVID-19 lockdowns also rocked the sense of stability and security. According to a recent SI Live article titled “More young adults are creating wills because of […]
Estate planning is part of life planning. Most people think of death when they consider estate planning. Because people often avoid the unpleasant and uncomfortable, they ignore estate planning conversations. Although this is understandable, it is neither helpful nor accurate. According to a recent aol.com article titled “Estate Planning: 7 Things To Make Sure You Do,” estate planning […]
Secrecy is not the best policy when it comes to estate planning. Secrets are generally considered problematic for relationships. Exceptions include surprise parties and confidentiality within a therapeutic relationship or the attorney-client privilege. Typically, estate planning is not one of these exceptions. According to a recent Financial Advisor article titled “Family Wealth Transfers Undermined by Secrecy,” it […]
Lisa Marie Presley made some estate planning mistakes. Estate planning should be undertaken with the help of professionals. This is especially true for more complex estates or family dynamics. Attempting to create or update an estate plan on your own can lead to issues with estate administration. According to a recent Insurance NewsNet article titled “Presley […]
Remarriage for seniors is not uncommon. Although many people envision young couples when they think of weddings, people get married and remarried at any age. For some, divorce or death leads to being single again. For others, they have simply waited longer to find the love of their life. According to a recent MSN article […]
Portability can be helpful for large estate. Most people would rank taxes as one of their least favorite things. Be honest now. That includes you, too. Exceptions include the IRS, state and federal governments, and many tax accountants. The government levees a variety of taxes including income taxes, property taxes, capital gains taxes, and death […]
Reviewing an estate plan should be done periodically. Few things in life are truly “fix it and forget it.” Cars and homes require maintenance. Gardens require weeding and watering. Lawns require mowing and fertilizing. Neglecting these ongoing tasks leads to problems. According to a recent Kiplinger article titled “Need an Estate Planning Checkup? Now is […]
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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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