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Pour-over will

How Does a Pour-Over Will Work with a Trust?

POSTED ON: January 30, 2024 BY: Kyle Krull
A pour-over will is beneficial in trust planning. Estate planning typically involves trust-based or will-based planning. The distinctions arise from what documents form the foundation of a comprehensive estate plan and how assets are managed and inherited. Although someone may select a trust-based plan, this does not mean they will necessarily bypass using a last […]
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Marital Trusts

Who Can Benefit From Marital Trusts?

POSTED ON: December 19, 2023 BY: Kyle Krull
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 […]
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Put a house into a trust

How Do I Put a House into a Trust?

POSTED ON: November 28, 2023 BY: Kyle Krull
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 […]
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Trusts

How Different are Wills and Trusts?

POSTED ON: July 25, 2023 BY: Kyle Krull
Distinct differences exist between wills and trusts. Estate planning typically involves creating a will-based or a revocable living trust-based plan. Both have been used for generations to transfer assets to loved ones successfully. While most people have likely heard both terms, they still may be confused about the differences between wills and trusts. According to […]
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LLCs

Are LLCs Better than Trusts?

POSTED ON: May 9, 2023 BY: Kyle Krull
Limited Liability Companies (LLCs) and trusts are both helpful for asset protection. Asset protection can be a priority for many in their life and estate planning. This is especially important for those with much to lose as business owners. Two common tools for asset protection include trusts and Limited Liability Companies (LLCs). According to a […]
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revocable trust

Is a Revocable Trust Always Effective?

POSTED ON: May 4, 2023 BY: Kyle Krull
A revocable trust must be funded to be effective. Follow through is important. Committing to an athletic training routine will improve your ability in a given sport. Making good on your word builds trust. According to a recent The National Law Review article titled “’It Ain’t Over ‘Til It’s Over’ – Use of a Funded […]
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Revocable Trusts

Can Creditors Access Revocable Trusts?

POSTED ON: February 21, 2023 BY: Kyle Krull
Creditors may be able to make claims on revocable trusts. Many people believe trusts are a magical solution to their estate planning and financial fears. Trusts are certainly valuable tools when created properly, but not all trusts are equal. Some trusts are best for maintaining control of assets and simplifying asset distribution. Others provide greater […]
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Trust

Should I Choose a Will or a Trust?

POSTED ON: December 16, 2022 BY: Kyle Krull
Yes! A last will and testament and a revocable living trust are both effective estate planning tools. Estate planning does not look the same for everybody. The lives of singles look vastly different than those of married couples. It only makes sense their estate plans would also look different. According to a recent The News-Enterprise […]
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Pour-over will

How Can a Pour-Over Will Benefit my Trust?

POSTED ON: May 25, 2022 BY: Kyle Krull
A pour-over will is used when a trust is in place. Many people think of estate planning as a binary decision - they need to choose either a last will or a revocable living trust (RLT). Although one of these must set the foundation for your estate plan, they are not necessarily mutually exclusive. A […]
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Testamentary Trust

When is a Testamentary Trust Created?

POSTED ON: March 10, 2022 BY: Kyle Krull
A testamentary trust can be created after you die. Some people really like the idea of using a trust in their estate planning. The control over the eventual inheritance distribution is appealing. These individuals are often torn between the appeal of a trust and the work it takes to maintain a trust. According to a […]
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