Marital trusts protect couples and their families. Family gatherings are common during the holidays. For some, these are fairly simple logistically and emotionally. Loved ones live nearby and get along reasonably well. For many, the time is filled with stress around scheduling and relationship dynamics. It can be hard enough to manage holidays between the […]
Portability tax exclusion benefits have been extended. People cannot escape taxes. Purchase something. Pay a tax. Own a vehicle or real estate. Pay a recurring tax. Make an income. Pay a tax. Die with a specific amount of wealth. Pay a tax. According to a recent The CPA Journal article titled "Portability of Deceased Spousal Unused Exclusion […]
Portability elections may not be the best for all families. The federal estate and gift tax exemption is necessary for those with high net worth. Any amount over this threshold is subject to estate taxes. The "unified" exemption is $12.92 million per taxpayer for 2023. Individuals and couples can work with an experienced estate planning […]
Estate tax planning attorneys will be busy in 2025. Certain events make people more stressed. Leading up to Y2K, individuals and businesses were uncertain how computers would handle the change of the millennium. When news of possible COVID lockdowns was announced, stores quickly ran out of water, bread, and toilet paper. According to a recent […]
The lifetime estate tax exemption is set to decrease in 2026. Unless you are a tax accountant, taxes likely confuse and intimate you. Both state and federal lawmakers pass legislation governing what citizens owe the government and for what reasons. These taxes are consistently changing and can be difficult to follow. According to a recent […]
Estate taxes and inheritance taxes can reduce the wealth left to loved ones. The U.S. government is quite capable of spending money. Understatement? Even money it does not have. And from where does that money originate? Citizens are taxed. A variety of taxes exist at the local, state, and federal levels. People are taxed on […]
Inheritance taxes and estate taxes are not paid by the same people. This week likely is one of your favorites, yes? No? Tax week. Specifically, Tax Day for 2022 returns is tomorrow, Tuesday, April 18. Some taxpayers will be receiving tax refunds while others will owe money to the government. According to a recent The Alliance […]
Death taxes feel a lot like adding insult to injury. Those left behind after the loss of a loved one have experienced a significant void in their worlds. Someone with whom they spent each holiday or every day is now gone. In the midst of their grief, they are often faced with additional responsibilities of […]
Commercial solicitations are permitted by the Missouri Rules of Professional Conduct but are neither submitted to nor approved by the Missouri Bar or the Supreme Court of Missouri.
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.
REMEMBER: “The choice of a lawyer is an important decision and should not be based solely upon advertisements.” This statement is required by rule of the Supreme Court of Missouri.
