Kansas and Missouri Estate Planning Blog

Beneficiary forms

How Important are Beneficiary Forms?

POSTED ON: October 30, 2023 BY: Kyle Krull
Beneficiary forms overrule last will and testament wishes for assets. A last will is an important estate planning document. It is used to name executors, designate guardians for minor children, and provide instructions for distributing assets. When an estate plan is referenced in news articles or television shows, only the last will is typically addressed. […]
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Storing estate plan documents

Where Should I Be Storing Legal Documents?

POSTED ON: October 17, 2023 BY: Kyle Krull
Storing a last will and testament safely is a key step in estate planning. Many would argue the ending is more important than the beginning. Although a sports team may be ahead early in a game, it does little good if they make many mistakes and eventually lose the game. The win will go to […]
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revocable living trust

When Is a Revocable Living Trust the Best Solution?

POSTED ON: October 11, 2023 BY: Kyle Krull
Retirees and others can benefit from a revocable living trust. Estate planning attorneys ask for a lot of personal and financial information when meeting new clients. Some people find this to be inconvenient. This simple inconvenience serves an important purpose. It helps the estate planning attorney conceptualize the needs of the clients because the information […]
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Estate planning

How is Estate Planning Beneficial?

POSTED ON: October 5, 2023 BY: Kyle Krull
Estate planning is essential for numerous reasons. Many people became more aware of the uncertainty of life during COVID. The media constantly reminded people that death was possible and their livelihood and health were at risk. Although there was a slight rise in people prioritizing estate planning, many still do not have an estate plan. […]
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Wills or Trusts

Are Trusts Superior to Wills?

POSTED ON: October 3, 2023 BY: Kyle Krull
Wills and trusts are both useful estate planning tools. The debate over whether wills or trusts are better in estate planning has been argued by many for decades. The nature of this argument may be likened to whether a screwdriver or wrench is a better tool. It depends on what you need for the specific […]
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Bank account

Who Will Inherit My Bank Account Funds?

POSTED ON: September 26, 2023 BY: Kyle Krull
Dead people cannot own a bank account. How assets are treated when you die depends on your forethought and goals. The fate of property can be complicated and confusing. With proper estate planning, the transfer can be straightforward. According to a recent Motley Fool article, "Here's What Happens to Your Bank Account When You Pass […]
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Estate conflict

Is Conflict Surrounding an Estate Avoidable?

POSTED ON: September 5, 2023 BY: Kyle Krull
Proper planning can help you avoid estate conflict. Some people seem to thrive off of drama. No, really. This is evident in the plethora of reality television shows available on broadcast television and streaming services. Although many people find drama entertaining, it is much less enjoyable when it is your story. According to a recent […]
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Parents

What Estate Planning Documents do Parents Need?

POSTED ON: August 31, 2023 BY: Kyle Krull
New parents should protect their children through estate planning. Adulthood brings many responsibilities. Bills and rent must be paid. Groceries must be purchased, and meals prepared. Laundry must be sorted, washed, dried, and folded. Such tasks are no longer simple chores but are necessary for daily living. According to a recent The Motley Fool article […]
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Heirlooms

How Should Heirlooms Be Handled in Estate Plans?

POSTED ON: August 28, 2023 BY: Kyle Krull
Heirlooms can trigger conflict among families. While many people value money as an inheritance, family heirlooms are often considered priceless. It makes sense. People can get money anywhere, but there is no replicating the history and meaning attached to family heirlooms. According to a recent The Wall Street Journal article titled "Pass On Your Heirlooms, […]
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Storing estate planning documents

How Should I be Storing My Estate Plan?

POSTED ON: August 17, 2023 BY: Kyle Krull
Storing legal documents in a secure location is necessary. Some people are meticulously organized. Others are fairly tidy but have no rhyme or reason for their physical spaces. Still, others live in complete chaos. According to a recent The Washington Post article titled “Aretha Franklin’s will was in her couch. Here’s where to keep yours,” some […]
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