Jointly owned property may avoid probate. When more than one person has concurrent ownership of an asset, it is considered jointly owned. Some couples choose to combine all of their assets when married. Others decide to keep all or some assets separate. According to a recent TBR News Media article titled “Everything you need to […]
Certain actions should be taken after the death of a loved one. Although death means the end of the life and responsibilities for the decedent, the responsibilities of others increase. Often those who must take action are those who are closest to the person who died. These duties can feel overwhelming in the midst of […]
Titling assets is a key aspect of estate planning. Titling on documents is a lot like labeling. Parents label lunchboxes, clothing, and other items to remind them and others of the ownership of each item. Essentially, titling assets serves to legally label such assets with then identity of their owner. According to a recent FedWeek […]
Blended families require special considerations, especially when it comes to estate planning. Blended families are common in America. Many adults get married and have children, then divorce and remarry. Some then lather, rinse, and repeat. Although common, remarriage creates more complex family systems. More complex family systems can be a nightmare without proper estates planning. […]
Tenancy by the Entirety is one option for owning real estate. You are and your spouse are buying a home. This is an exciting time. It also means you need to make some decisions on ownership. How a real estate is titled is important. According to a recent Motley Fool article titled “What is Tenancy […]
Your ex-spouse could inherit your estate without proper planning. You are divorced. This means you have an ex-spouse. Divorce proceedings and laws governing divorce can feel complicated and overwhelming. After the divorce is official, you likely do not want to thing about it ever again. According to recent Nj.com article titled “My brother died of COVID-19. […]
What is the difference between holding title to your home as tenants in common or as joint tenants? What is the big deal? There are several considerations when purchasing a home as a married couple. In some states, like Kansas, the purchase defaults to a “tenants in common" status. After years of marriage, many couples […]
Jointly owning property can be precarious to say the least. You are considering owning property jointly with a non-spouse. Maybe you are considering doing so with another family member. Perhaps a friend or business associated has made the suggestion. Should you do it? According to a recent Inside Indiana Business article titled “Risky: Property Owned […]
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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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