Transfer on Death (TOD) accounts require a beneficiary to be named. Although most people believe money passes to heirs through a last will and testament after probate, but there are alternatives. A trust is one common option in providing greater control over the distribution of assets outside of probate. Additionally, certain assets pass through beneficiary […]
Every adult can benefit from an estate plan. People are adept at making excuses to avoid certain tasks. Sometimes these are inconsequential. Other times they can be detrimental. According to a recent Florida Today article titled “No matter your age, income or crushing debt, you should have an estate plan,” the reasons people give for […]
Estate planning is not limited to a last will and testament. If you have watched a Hollywood movie or read a novel about someone leaving an inheritance, you have likely heard of a last will and testament. This is unsurprising as it is the most common legal document used to distribute assets to heirs. Unfortunately, […]
Estate inventory is one role of an executor. People can accumulate a lot of stuff throughout their lifetimes. This can include common clutter. It can also include valuable assets. After all, what is trash to one may be treasure to another. According to a recent Yahoo Finance article titled “What Is Included in an Estate […]
Placing larger assets in a revocable living trust could simplify distribution. Many people want to simplify their estate planning. Their definition of a simple estate plan will guide what documents are included. If simple means a basic estate plan, the individuals will likely opt for a last will and testament over a trust. If they […]
The fate of the Michael Nesmith estate is uncertain at this time. It is an all-to-common story. A celebrity dies and leaves behind either no estate plan or an inadequate estate plan. This results in confusion surrounding the fate of the estate. According to a recent Monterey County Weekly article titled “Michael Nesmith's four children […]
Singles benefit from estate planning. There has been a trend for several years to delay marriage. This means many people are often single throughout their twenties and into their early thirties. It may be tempting for these individuals to forgo estate planning because they have no obvious heirs. According to a recent Hood County News […]
Making mistakes in a last will and testament is costly. Everyone makes mistakes. It is part of being human. Learning lessons from experience allows people to avoid repeating these actions. Sometimes there is not an opportunity for a second chance. In these instances, it is wise to consider the experiences of others. According to a […]
Parents and adult children should have estate planning conversations. Communication is important in all areas of life. Both work and relationships suffer from a lack of good communication. Some dialogues are relatively simple to approach while others can trigger tension and anxiety. When the latter is true, people tend to avoid conversations. According to a […]
Trusts have several estate planning benefits. Many misunderstandings exist around estate planning. One of the most common misconceptions involves trusts. People tend to think this estate planning tool is only for those who are ultra-wealthy. According to a recent US News article titled “Trusts Explained,” a trust can address a number of estate planning goals […]
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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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