The Prince estate may finally be finding resolution. The death of a celebrity often brings with it a sense of shock. Few people watch a movie or listen to a song and think about how the artists will eventually die. Although some celebrities live long lives, others die suddenly and tragically. This was the case […]
Giving bank account access should be carefully considered prior to taking action. As children become adults, they get to know their parents in new ways. Although parents will always be parents and children will always be children, the relationship begins to resemble more of a peer relationship at the functional level. Parental advice becomes less […]
A dynasty trust allows for generational wealth transfer. There are a variety of ways one can pass assets to their heirs. These include last wills and testaments, beneficiary designations, and trusts. Within the trust category alone, there are several subtypes. According to a recent Kiplinger article titled “A Smart Option for Transferring Wealth Through Generations: […]
An inherited IRA is more complicated for heirs who are not a surviving spouse. An IRA is an important source of income in retirement. For this reason, they are often significant assets in estate planning. With the recent passage of the SECURE Act, how IRAs are passed to heirs has become more complicated. No surprise […]
Placing conditions on an inheritance can cause problems. In some instances, it is appropriate to require certain standards to be met before receiving a benefit. Students must earn a minimum grade to pass a course. Athletes must pass a drug test to compete at the Olympics. Even attorneys must pass the bar exam to practice […]
Most Americans do not understand probate. Isn't there anyone who knows what probate is all about?!! This question is reminiscent of Charlie Brown's desperate cry of frustration in "A Charlie Brown Christmas," albeit in a different context. I digress. You have likely heard of probate. Perhaps it has been in the context of a loved […]
Your planning may need to adjust to a new federal estate tax. Most people cringe at the mention of taxes. The exceptions would be those whose livelihoods depend on taxes like accountants, IRS agents, and other government officials. If your employment does not find you within one of these exceptions, incomes taxes, property taxes, inheritances […]
Marilyn Monroe had no family to inherit her estate. Few starlets have captured the hearts of generations like Marilyn Monroe. As Elton John sang, "Goodbye, Norma Jean." Her success on screen and her tragic death in 1962 have piqued admiration and speculation, respectively. Unlike many other celebrities, Marilyn Monroe had an estate plan when she […]
Your second marriage requires revisiting your estate plan. You have found love again. As your prepare for your second wedding, do not neglect your estate planning. Although your wedding day will be filled with memories and loved ones, your estate plan will impact the future of your new family. According to a recent Mondaq article […]
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 […]
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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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