A corporate trustee can benefit the management of a trust. Some tasks can be easily delegated to family and friends. Need groceries from the store? Send your child who can drive. Need plumbing in your bathroom fixed? Perhaps you should evaluate whether anyone has the appropriate skills. According to a recent The Quad Cities Times […]
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 […]
Singles are not exempt from having to create an estate plan. Many American adults are currently considered single. These individuals may have never been married. Others may have been married then widowed or divorced. According to a recent County 17 article titled “Even ‘Singles’ Need Estate Plans,” dying without an estate plan is not only […]
Taxing life insurance benefits is dependent on several factors. You have people who depend on your income. Perhaps this is your spouse only. Maybe you also have children. Life insurance can be useful in providing financial protection for your loved ones if you were to die. According to a recent MoneyWise article titled “Are Life […]
Following these five tips could help you pass your assets to your family. You have worked hard your whole adult life. When it came to managing your finances, you saved for retirement, made wise investments, and did not spend beyond your means. You are now considering estate planning. You want to pass your assets to […]
A GRAT can serve as helpful estate planning tool for some people. Federal estate taxes may be problematic for some because of the current low interest rates. As a result, many are looking for a way to reduce their tax liability. Finding the best means of doing so can be tricky. According to a recent […]
Paying for nursing home care may consume all of your savings. There are many physical ailments associated with aging. As we get older, our bodies wear out. Although some individuals can live independently for a time or have family caretakers, many seniors will require some form of long-term care outside the home setting. According to […]
Specific planning is required to pass your house without taxes. You are a homeowner. This is one asset you plan to pass along to your heirs. You know the current estate tax exemption threshold is $11.58 million for a single individual in 2020. Your estate will be taxed on any amount above this threshold. If […]
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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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