Kansas and Missouri Estate Planning Blog

Agents

How Do I Choose My Executor or Agents?

POSTED ON: November 4, 2022 BY: Kyle Krull
Choosing agents requires careful consideration. Very considered consideration. Successful estate planning, including incapacity planning, does not rely on the validity of the signed documents alone. Although the preparation and execution of the documents is essential, the content is equally important. The right fiduciaries and agents must be clearly appointed. According to a recent Nasdaq article […]
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Economy

Does the Economy Impact Estate Planning?

POSTED ON: November 3, 2022 BY: Kyle Krull
The state of the economy will impact your estate planning. For better or worse, money is necessary for life in American society. People work to earn money to pay for food, clothing, shelter, and healthcare. When the economy changes, so do the financial circumstances of individuals and families. According to a recent Financial Advisor article […]
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Upstream planning

What is Involved in Upstream Planning?

POSTED ON: November 1, 2022 BY: Kyle Krull
“Upstream planning” is important with multi-generational wealth. Not all people have the same estate planning needs. Some people will use all of their retirement savings and have little to nothing to pass to their children. Others have significant wealth and would like these funds to pass from generation to generation. According to a recent Kiplinger […]
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2026

How Will Estate Tax Rules Change in 2026?

POSTED ON: October 31, 2022 BY: Kyle Krull
The estate and gift tax exemption is set to decrease in 2026. Estate taxes do not affect everyone. With a threshold of $12.06 million for individuals and $24.12 million for married couples, few American households need to plan for federal estate taxes at this time. But, whoa. This may be changing in the not-too-distant future. […]
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Steps

What Steps are Key to Estate Planning?

POSTED ON: October 28, 2022 BY: Kyle Krull
Taking steps to create a successful estate plan will pay off. Many people enjoy knowing exactly what they need to do before taking the required steps to accomplish something. In many cases, it is comforting to know what is expected. Without clear directions, the fear of doing something wrong paralyzes them. I know I feel […]
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Minor children

How Should Minor Children Inherit?

POSTED ON: October 26, 2022 BY: Kyle Krull
Minor children are a vulnerable population. Children need trustworthy and caring adults in their lives. Even adolescents who just want to be independent rely on others for food, safety, shelter, love, and guidance. Often these "others" are the parents of the children, but not always. According to a recent The News-Enterprise article titled “Children need […]
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Probate court

What is Involved in Probate?

POSTED ON: October 19, 2022 BY: Kyle Krull
Neither the probate court nor the probate process itself need be frightening. It is normal for people to have fears. Fear can be healthy and protective. It encourages people to be cautious and careful. One common fear is becoming entangled with the probate court and its process. According to a recent Investopedia article titled “What […]
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Discuss will

Why Should I Discuss the Existence of a Will?

POSTED ON: October 11, 2022 BY: Kyle Krull
Having a valid last will and testament simplifies probate. Far too often families are shocked to learn of estate planning mistakes or neglect after the death of a loved one. Sometimes this includes having an outdated or even an unsigned last will and testament. Other times the executor has died, afterborn children or grandchildren have […]
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NFL

Are NFL Teams Automatically Inherited?

POSTED ON: October 3, 2022 BY: Kyle Krull
Estate planning for NFL teams is no small matter. Passing along assets to the next generation requires thoughtfulness for anyone. It involves even more planning when a business is one of these assets. Business succession planning and estate planning certainly must be "tackled" together, especially when the business is a professional football team (pun intended). […]
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Probate

How Can Fewer Assets Pass Through Probate?

POSTED ON: September 22, 2022 BY: Kyle Krull
It can be helpful to reduce the size of a probate estate. The probate courts exist to oversee the passing of property between people and their heirs. Like many legal systems, it can be slow. When time is money, the costs can certainly add up. According to a recent Indianapolis Business Journal article titled “Try […]
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