An inheritance can be tricky to navigate, depending on the asset. Some people are chosen to receive an inheritance. Their loved ones created an estate plan and made a point to include them. Others inherit by default because a relative died intestate. According to a recent CNBC article titled “Receiving an inheritance? Here’s how experts say […]
An inheritance should be used wisely. Money earned just spends differently than gifted money. Paychecks are readily used for supporting charitable causes, paying bills, reducing debt, and preparing for retirement. Gifted money is often allocated to impulse spending, vacations, or big-ticket items. According to a recent Go Banking Rates article titled “Suze Orman: 3 Things You […]
Bank accounts do not have to pass through probate. With most actions in life, there is typically an easy and a hard way to accomplish the same task. Although one can hand wash every plate, bowl, fork, knife, and spoon after dinner, it is more efficient to simply load and run a dishwasher. Sometimes easy […]
Sharing an inherited home with siblings can become complicated. Siblings do not always share well. While this is often obvious when they are children, many brothers and sisters are no better when they become adults. Even those who have learned to share well may struggle occasionally in adulthood due to circumstances. Some children grow up, […]
Leaving an inheritance to a minor child is not a minor matter. Some children grow up and become adults. Other children just keep having more birthdays. If you understand the distinction, then you may even have children in each camp among your heirs. Regardless, even if a minor child is the responsible "old soul" among […]
Tina Turner left a musical legacy and a large estate. Although celebrities often seem larger-than-life, they are not immune from challenges in life. In the end, they are simply human. Some die tragically alone. Others pass away knowing the care and commitment of loved ones. According to a recent Yahoo News article titled “Tina Turner’s husband […]
Downsizing can take a lot of preparation. Living in one place for any length of time typically comes with an accumulation of stuff. Sometimes, a lot of stuff. This is true whether your child moves back from college after nine months in a dorm or whether you move from a family home you have occupied […]
Dying without a last will causes many complications. Death is inevitable. Despite this fact, many people choose to act as if ignoring this fact will somehow alter reality. This denial can reduce uncomfortable thoughts and emotions for a time, but it is not sustainable and can have negative impacts. According to a recent The Wall […]
“Per stirpes” is a designation for passing assets to heirs. Legal jargon can involve a lot of Latin and also be confusing. Legal jargon also has real implications for the lives of Americans. It is present in government statutes, business contracts, and estate planning. According to a recent Motley Fool article titled “What Does Per […]
Poor estate planning can have unintended consequences. “The road to hell is paved with good intentions.” Although the author of this quote is unknown, the words ring true in a number of circumstances. Estate planning is one. According to a recent The News-Enterprise article titled “Advice for avoiding unintended issues in estate planning,” most people do not […]
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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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