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 […]
Estate planning reduces financial frustrations when settling an estate. Perhaps you have heard the phrase, "failing to prepare is preparing to fail." Although many attribute this to educational, business, or athletic endeavors, it applies to estate planning. The stakes are often higher with estate planning. Why? There is no learning from your mistakes after you […]
A trustee is responsible for trust administration. Trusts are useful estate planning tools for those who want to retain greater control over assets or maintain the privacy of their affairs. Several factors impact whether a trust will be effective. An experienced estate planning attorney creating the documents is critical to a healthy foundation. The trustmaker […]
Tori Spelling may not have liked how her father structured his estate. Fame and fortune do not buy happiness. Numerous celebrities have had tumultuous relationships with spouses, parents, and other family members. These tensions can be highlighted through estate planning and reactions to the plans. According to a recent Page Six article titled “Tori Spelling’s […]
The types of trusts people use depend on their goals. Estate planning can have various components depending on individual specific needs and goals. Smaller estates with responsible heirs may find arranging for direct non-probate transfers of their assets sufficient, with a last will and testament as a backup. Larger estates or those with more financial […]
Distinct differences exist between wills and trusts. Estate planning typically involves creating a will-based or a revocable living trust-based plan. Both have been used for generations to transfer assets to loved ones successfully. While most people have likely heard both terms, they still may be confused about the differences between wills and trusts. According to […]
Probate and trust administration are different processes. You have done your calculations. You likely will have assets remaining when you die. There is more than one option when leaving an inheritance to your loved ones. The two primary methods are through a last will and testament or through a revocable living trust. According to a […]
Fair estate planning does not necessarily mean equal estate planning. Let me explain. You have multiple children. As children they were obsessed with fairness. Sister has a bigger cookie? It is not fair. Brother gets a later bedtime? Still not fair. According to a recent The Press Enterprise article titled “Why ‘fair’ and ‘equal’ aren’t always […]
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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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