A step-up in basis can reduce capital gains tax liability on assets. Some assets can appreciate in value or lose value while owned. Examples include stocks and real estate. According to a recent Forbes article titled “What Is Step-Up In Basis?,” capital gains taxes are levied on the sale of assets when the value or “cost […]
You can give an inheritance while you are living. Timing can make a big difference. A split second late on a baseball swing can leave you with a strike rather than a home run, yes? Being born a few minutes before midnight on New Year’s Eve gives parents a tax break. According to a recent […]
Making withdrawals from retirement accounts can backfire. Funding a retirement account when you are employed should be prioritized. By saving in your retirement accounts, you will have money to withdraw in retirement. These retirement savings become a significant source of income when your are in your golden years. According to a recent Smart Asset article […]
How you divide your estate plan impacts your loved ones. Parents who want to leave their assets to the next generation will have more decisions to make if they have more than one child. If you have one child, he or she can be a solo heir without triggering jealously. On the other hand, under […]
Nearing retirement requires different savings strategies. You are nearing retirement. Perhaps you started saving early in your career. Maybe you waited to begin saving. Either way, making wise choices right now before you retire is important. According to a recent Investopedia article titled “Top Retirement Savings Tips for 55-to-64-Year-Olds,” there are several ways you can […]
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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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