Farm families have a lot to lose with inadequate estate planning. You are a farmer. You are in the business of farming. The farm has been in the family for generations. Perhaps your children intend to keep the a farm running after you die. Maybe your children have different careers in mind. Do you have […]
An unfunded trust will undermine your estate planning. Your estate planning goals included avoiding probate. You also desired to simplify asset management should you become incapacitated. Consequently, your experienced estate planning attorney recommended a revocable living trust. You agreed and happily signed the papers for the creation of your living trust. According to a recent […]
Gifting can get you in trouble without proper planning. The week of Thanksgiving marked the start of the holiday season. Advent services began yesterday (Sunday) at my church. Although Christmas traditions will look different, gifting will likely remain. According to a recent Kiplinger article titled “Gifting sounds pretty simple, but there are many ways to […]
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 […]
Making mistakes is normal for new parents. You or your spouse are pregnant. This has been confirmed by the doctor. You are both excited and nervous. This is your first child and you feel clueless about what to do. According to a recent The Street article titled “Biggest Money Mistakes New Parents Make,” this uncertainty leads […]
Disclaiming assets will change how an inheritance is distributed. Let us imagine a situation where a loved one recently died. This individual left an IRA or other asset to you as an inheritance. Due to personal or financial reasons, however, you choose to not accept part or all of this inheritance. According to a recent […]
Estate planning requires proactive steps. Perhaps you have never made an estate plan. Maybe you recently moved to another state, making the legality of your previous plan uncertain. Whatever the reason, you are searching for an estate planning attorney to begin the process. According to a recent EconoTimes article titled “Top 3 Estate Planning Tips […]
Owning a small business requires specific estate planning. You are like many Americans. You own a small business. Over the years you have served your community by providing quality goods and services. According to a recent Legal Scoops article titled “3 Ways Estate Planning is Used in Small Business,” your small business will likely die with you […]
Reverse mortgages are not the only option for getting available cash out of your home equity. Your are at least 62 years old. This means you are eligible to apply for a reverse mortgage. Reverse mortgages allow you to borrow against your home equity to receive a line of credit, monthly payments, or a combination […]
Life insurance will be a useful estate planning tool. You want to leave an inheritance to your loved ones. To do so, you have created an estate plan. Even so, you are concerned about estate taxes. The are never "permanent" in terms of the applicable exemption limit. You know these could take a bite out […]
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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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