Estranged children cannot be ignored in your estate plan. Families can be sources of great joy and great pain. Although many people want close and positive relationships with their loved ones, this is not always a reality. Children become estranged for a variety of reasons. According to a recent The News-Enterprise article titled “Estate planning […]
Blended families may require more strategic estate planning. Many men and women in the United States get married, divorced or widowed, and remarried. As a result, families often consist of yours, mine, and ours children. While many families thrive with more members and more love, more people can also mean more complications. According to a […]
Changing circumstances may affect the usefulness of an ILIT. Do you remember when the federal estate tax limit was $600,000? I do. At this time, you may have set up a revocable living trust (RLT) and an irrevocable life insurance trust (ILIT) to provide for your family if you died. Because many years have passed […]
A last will and testament protects against a variety of negative consequences. Preventative measures are important. Many people keep umbrellas in their cars in case it rains. Applying sunscreen is common to decrease the chances of developing skin cancer. Expectant mothers often pack hospital bags in advance so they are ready to "deliver" at anytime. […]
Keeping the family farm requires estate planning. Farmers are known for their hard work, patience, and perseverance. Similar to estate planning, crops only thrive when their specific needs are taken into account. Despite this parallel, about 60 percent of farmers do not have a last will and testament. According to a recent Farm Journal’s Pork […]
Following specific steps is important to a successful estate plan. It is not uncommon to make mistakes. These frequently occur in areas outside of our areas of experience. Although blunders are common, they can be costly. To err is human; to forgive, divine. (Alexander Pope) According to a recent Forbes article titled “7 Steps To […]
Many celebrities have failed at estate planning. It is common for Americans to be envious of celebrities. Their talents, money, and influence can be quite appealing. Although the life of a celebrity may appear glamorous, they too have their struggles. According to a recent Forbes article titled “Lessons to be Learned From Failed Celebrity Estates,” […]
An estate plan review ensures your plan will work when needed. Most things in life require maintenance. If you do not invest in your marriage, you will likely grow apart from your partner. Failing to change the oil in your car will kill your engine. According to a recent Forbes article titled “5 Reasons To […]
There is no magic age for creating an estate plan. Perhaps you are reading this and are retired. Maybe you have just turned 18 and achieved legal status as an adult. You maybe you are somewhere in between. According to a recent Reality Biz News article titled “When is the right time to consider estate […]
Easy is not always better, especially when it comes to estate planning. Life is full of choices. Many factors guide the decisions we make moment by moment when presented with options. The simplest choice is often appealing. According to a recent Florida Today article titled “Estate planning: When you take the lazy way out, someone […]
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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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