Kansas and Missouri Estate Planning Blog

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Transfer property

How Do I Transfer Property Efficiently?

POSTED ON: February 15, 2024 BY: Kyle Krull
People must transfer property to others when they die. All humans come into this world with nothing of their own. Toys, clothes, and food are provided to them by their parents or gifted by other family and friends. As individuals go through life, they may purchase a vehicle, a home, furniture, jewelry, and art. Bank […]
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Pour-over will

How Does a Pour-Over Will Work with a Trust?

POSTED ON: January 30, 2024 BY: Kyle Krull
A pour-over will is beneficial in trust planning. Estate planning typically involves trust-based or will-based planning. The distinctions arise from what documents form the foundation of a comprehensive estate plan and how assets are managed and inherited. Although someone may select a trust-based plan, this does not mean they will necessarily bypass using a last […]
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Living trust

What are Pros and Cons of a Living Trust?

POSTED ON: December 28, 2023 BY: Kyle Krull
A living trust can provide greater control over asset distribution. People like to be in control. It provides comfort in predicting outcomes. It also minimizes the negative impact other people can have on us. The problem? Complete control is an illusion. Humans are affected by weather, natural disasters, car accidents, governments, and even other individuals. […]
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Put a house into a trust

How Do I Put a House into a Trust?

POSTED ON: November 28, 2023 BY: Kyle Krull
Those who put a house into a trust may find several benefits. Most people find their home is the largest single asset they own. Whether in Overland Park or other parts of Johnson County, real estate prices have increased significantly over the past three years. Because houses are expensive investments, there is greater urgency in […]
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Disinheriting

What Challenges Could Arise When Disinheriting Someone?

POSTED ON: November 14, 2023 BY: Kyle Krull
Disinheriting a family member is the choice of the person who creates the estate plan. People are responsible for their own money. They can choose to spend it all before they die, donate it to charity, or leave some, all, or none of it to loved ones. Essentially, an inheritance is a gift, not a […]
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Trust funds

Why Would People Create Trust Funds?

POSTED ON: November 9, 2023 BY: Kyle Krull
Trust funds and wills are both estate planning documents. The average person has likely heard of last wills and trust funds. Last wills receive attention as plot devices in books, television shows, and films. Trust funds are often mentioned when people discuss families with generational wealth, like the Rockefeller family. While these contexts can provide […]
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Primary

What Primary Documents Govern Estate Plans?

POSTED ON: November 1, 2023 BY: Kyle Krull
Estate planning includes a primary document. Comprehensive estate planning typically does not involve one document. Instead, several components work together to provide instructions for your affairs after incapacity or death. Like any good team, estate plans have a document that directs how the plan should work together. According to a recent The News-Enterprise article titled “Make […]
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Revocable trust

Do I Need a Revocable Trust?

POSTED ON: October 25, 2023 BY: Kyle Krull
A revocable trust may not be necessary. People who love fluffy bread but do not understand the chemistry of baking may believe more yeast yields larger loaves. A baker knows the best results require a delicate balance of the key ingredients and the proper kneading and proofing of the dough rather than simply adding more […]
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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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Pour-over will

When Should I Have a Pour-Over Will?

POSTED ON: October 9, 2023 BY: Kyle Krull
A pour-over will can help tie up loose ends. Revocable Living Trust-based plans work as intended when the trust is funded. Some assets are placed in the trust while the trustmaker of the trust is alive. Other assets are intentionally left out or simply forgotten - more commonly, the latter. According to a recent Coeur […]
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