Having an estate plan should be a priority in 2024. At the start of a new year, many people reflect on the past and set goals for the next twelve months. For many, this involves dusting off the old dumbbells to "get fit." Others may elect to "shop the perimeter" of the grocery store to […]
Those who put a house into a trust may find several benefits. Most people find their home is the largest single asset they own. Whether in Overland Park or other parts of Johnson County, real estate prices have increased significantly over the past three years. Because houses are expensive investments, there is greater urgency in […]
Updating a last will and testament or a trust may be necessary one or more times after the initial creation of the estate plan. Many ask, "Why should I update my will or trust?" Chances are you are used to the concept of routine maintenance. Hair and nails need to be cut and trimmed. If […]
Estate planning reduces financial frustrations when settling an estate. Perhaps you have heard the phrase, "failing to prepare is preparing to fail." Although many attribute this to educational, business, or athletic endeavors, it applies to estate planning. The stakes are often higher with estate planning. Why? There is no learning from your mistakes after you […]
A pour-over will can help tie up loose ends. Revocable Living Trust-based plans work as intended when the trust is funded. Some assets are placed in the trust while the trustmaker of the trust is alive. Other assets are intentionally left out or simply forgotten - more commonly, the latter. According to a recent Coeur […]
Wills and trusts are both useful estate planning tools. The debate over whether wills or trusts are better in estate planning has been argued by many for decades. The nature of this argument may be likened to whether a screwdriver or wrench is a better tool. It depends on what you need for the specific […]
Proper planning can help you avoid estate conflict. Some people seem to thrive off of drama. No, really. This is evident in the plethora of reality television shows available on broadcast television and streaming services. Although many people find drama entertaining, it is much less enjoyable when it is your story. According to a recent […]
Heirlooms can trigger conflict among families. While many people value money as an inheritance, family heirlooms are often considered priceless. It makes sense. People can get money anywhere, but there is no replicating the history and meaning attached to family heirlooms. According to a recent The Wall Street Journal article titled "Pass On Your Heirlooms, […]
Storing legal documents in a secure location is necessary. Some people are meticulously organized. Others are fairly tidy but have no rhyme or reason for their physical spaces. Still, others live in complete chaos. According to a recent The Washington Post article titled “Aretha Franklin’s will was in her couch. Here’s where to keep yours,” some […]
Living trusts and wills are both effective in distributing an inheritance. In times past, ancient pharaohs and other royalty were buried with portions of their wealth. This is no longer a common practice. Nowadays, people generally believe you cannot take your stuff with you when you die. As one old saw holds, "You will never […]
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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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