Trusts have several estate planning benefits. Many misunderstandings exist around estate planning. One of the most common misconceptions involves trusts. People tend to think this estate planning tool is only for those who are ultra-wealthy. According to a recent US News article titled “Trusts Explained,” a trust can address a number of estate planning goals […]
Estate planning is multifaceted. Things are almost never as simple as they look. Professionals spend decades training to perfect their skills whether they perform surgery or stenography. Watch to the end of the film credits of your favorite movie and see the vast number of individuals and skill sets required to produce a finished product. […]
Moving to a new state requires a review (and possible update) of your estate plan and other consideration. Life has changed significantly since 2020. People have lost or changed jobs. Many have relocated for work. Others simply have chosen to be closer to family or better weather. This is especially true for those who are […]
Your residence will influence whether you owe an estate tax, an inheritance tax, or both. Taxes are a part of life and even a part of death. Just ask Benjamin Franklin. Although you cannot legally avoid payment of all taxes, choices you make can either increase or decrease the amount you owe. One important factor […]
One can pass wealth to heirs using a variety of options. Whether you have been working for decades or years, you likely have accumulated assets. While you are alive, you use these to keep you fed, clothed, sheltered, and safe. After you have died, these assets no longer benefit you. According to a recent AARP […]
Certain events should trigger an estate plan checkup. Nothing in your life happens in a vacuum. Your personal and work decisions impact each other. The decisions of others also can affect you and your loved ones. According to a recent Kiplinger article titled “2021 Estate Planning Checkup: Is Your Estate Plan Up to Date?,” what […]
Estate planning requires attention to detail. If you are an American adult, you should have an estate plan. This planning is not reserved for those who exceed the 2021 federal estate tax exemption of $11.7 million per person. Effective estate plans are essential to protecting you, your assets, and your loved ones. Poor estate planning […]
Managing estate paperwork can seem daunting after the death of a loved one. The list is long. Even with a well-organized estate plan, knowing what to do after the death of a loved one is challenging to navigate. You are dealing with the grief of a deep personal loss. At the same time, demands are […]
All adults should have a last will and testament, living will, and a health care power of attorney. When you are a child, you depend on your parents. If you get sick, they call your doctor, take you to the appointment, and give you the prescribed medicine. You depend on them for food, clothing, and […]
Farm families have a lot to lose with inadequate estate planning. You are a farmer. You are in the business of farming. The farm has been in the family for generations. Perhaps your children intend to keep the a farm running after you die. Maybe your children have different careers in mind. Do you have […]
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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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