Inherited IRA rules can complicate estate planning. Although some jobs still have pensions, this is increasingly more uncommon. In place of pensions, most people now have "defined-contribution" through individual IRAs or employer- sponsored retirement plans (think 401(k) or profit-sharing) plans. Several rules govern how these are taxed and what needs to be withdrawn during retirement. […]
A health savings account is a useful tool for medical expenses. Medical expenses are often quite costly. Although insurance can help, it does not often provide full coverage. You will be paying some of your expenses out of pocket. According to a recent The Street article titled “HSAs and Estate Planning,” utilizing a health savings […]
Surviving spouses are often left to navigate financial issues. Your spouse recently died. Your world has changed because that relationship cannot be replicated. Although it pales in comparison to the loss of your best friend, you also may have financial security. According to a recent Yahoo! Finance article “The Financial Effects of Losing a Spouse,” […]
Rules governing inherited IRAs have changed recently. You have recently inherited an IRA. You are vaguely aware of changes in tax law with the passing of the SECURE Act in December of last year and again with the CARES Act in late March. Even so, you are not clear on the new rules and how […]
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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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