A pot trust can be helpful for families with multiple children. Parenting is challenging. Navigating how to care for each child as an individual, while also supporting the family unit, is no small task. It can be hard to know what each child will need in the future and how choices today will impact them […]
A testamentary trust can give people more control from the grave. No, really. Those leaving inheritances can often feel torn. They know the assets they leave to loved ones could provide support in times of need. They also know their heirs may not be ready to make wise financial decisions when they inherit. A significant […]
A spendthrift trust protects an inheritance from a beneficiary with poor financial management. Children in the same household are not clones. Siblings have their own personalities, interests, and habits. While one child may be responsible, another may be frivolous. Some children grow up ... and others just keep on having more birthdays. You get the […]
Some people benefit from placing their home in a living trust. A house is a valuable asset. For many, it is their most significant investment. We certainly have seen a run up in home values of late, yes? Estate planning for these larger assets requires intentional preparation. One route people can take is to create […]
Estate planning is not limited to a last will and testament. If you have watched a Hollywood movie or read a novel about someone leaving an inheritance, you have likely heard of a last will and testament. This is unsurprising as it is the most common legal document used to distribute assets to heirs. Unfortunately, […]
A pour-over will is used when a trust is in place. Many people think of estate planning as a binary decision - they need to choose either a last will or a revocable living trust (RLT). Although one of these must set the foundation for your estate plan, they are not necessarily mutually exclusive. A […]
Placing larger assets in a revocable living trust could simplify distribution. Many people want to simplify their estate planning. Their definition of a simple estate plan will guide what documents are included. If simple means a basic estate plan, the individuals will likely opt for a last will and testament over a trust. If they […]
The fate of the Michael Nesmith estate is uncertain at this time. It is an all-to-common story. A celebrity dies and leaves behind either no estate plan or an inadequate estate plan. This results in confusion surrounding the fate of the estate. According to a recent Monterey County Weekly article titled “Michael Nesmith's four children […]
Life insurance provides protection for families with young children. Life insurance is not always necessary. If you are single and have enough saved to bury you when you die and pay any additional expenses or debts, you likely could bypass a policy. But what if you later marry, have children, and become "uninsurable" for some […]
Reviewing an estate plan is too often neglected. Things simply do not improve on their own over time. Examples of entropy are everywhere. You know, that good old "Second Law of Thermodynamics" applied broadly? Weeds pop up in gardens. Dust accumulates on shelves. Paint begins to chip and peel. According to a recent WMUR article […]
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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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