Limited Liability Companies (LLCs) and trusts are both helpful for asset protection. Asset protection can be a priority for many in their life and estate planning. This is especially important for those with much to lose as business owners. Two common tools for asset protection include trusts and Limited Liability Companies (LLCs). According to a […]
A revocable trust must be funded to be effective. Follow through is important. Committing to an athletic training routine will improve your ability in a given sport. Making good on your word builds trust. According to a recent The National Law Review article titled “’It Ain’t Over ‘Til It’s Over’ – Use of a Funded […]
Lisa Marie Presley made some estate planning mistakes. Estate planning should be undertaken with the help of professionals. This is especially true for more complex estates or family dynamics. Attempting to create or update an estate plan on your own can lead to issues with estate administration. According to a recent Insurance NewsNet article titled “Presley […]
Trustees hold significant responsibility. Although their title is technically derived from the entities they help manage, trustees must also be trustworthy. That is the foundational requirement. Those who include a trust in their estate planning have done so to fulfill specific goals. Examples include simplifying asset distribution, protecting assets from poor decisions by heirs, or […]
Lisa Marie Presley may have triggered legal disagreements with her estate plan. The life of Lisa Marie Presley was filled with quite a bit of drama through divorces and deaths. Despite this, it was originally believed Lisa Marie would have a fairly simple estate distribution. It was expected to simply include her children as heirs […]
Lisa Marie Presley left behind a family legacy at her death. Most people live their lives in relative obscurity. Others are household names from the time of their birth. The latter was true of Lisa Marie Presley. According to a recent NME article titled “Lisa Marie Presley’s children to inherit Graceland estate,” being the daughter […]
Serving as a guardian is a significant responsibility. Estate planning is important at any life stage. Each stage has its own specific concerns to be addressed. Young adults must prioritize agents to make medical and financial decisions for them in the event of incapacity. Older seniors must consider how to best pass what remains of […]
A co-trustee can be helpful in the administration of an estate. Revocable trusts can simplify the distribution of assets after death. Often trustmakers (aka grantors) make themselves the trustees of revocable trusts while they are alive. In addition to serving as trustees themselves, some individuals choose to appoint co-trustees. According to a recent The Street […]
Choosing agents requires careful consideration. Very considered consideration. Successful estate planning, including incapacity planning, does not rely on the validity of the signed documents alone. Although the preparation and execution of the documents is essential, the content is equally important. The right fiduciaries and agents must be clearly appointed. According to a recent Nasdaq article […]
Minor children are a vulnerable population. Children need trustworthy and caring adults in their lives. Even adolescents who just want to be independent rely on others for food, safety, shelter, love, and guidance. Often these "others" are the parents of the children, but not always. According to a recent The News-Enterprise article titled “Children need […]
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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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