Portability elections may not be the best for all families. The federal estate and gift tax exemption is necessary for those with high net worth. Any amount over this threshold is subject to estate taxes. The "unified" exemption is $12.92 million per taxpayer for 2023. Individuals and couples can work with an experienced estate planning […]
Heirs may be responsible for estate taxes. Not all estates will require payments of estate taxes. It is dependent on a number of factors, including the size of the estate and the specifics of the estate plan. Those who have assets valued in excess of the federal estate exemption threshold and those who live in […]
A new Alzheimer’s prescription may soon be covered by insurance. Alzheimer’s affects many people. Those with the illness experience changes in memory, personality, and temperament. Family and friends of those with the disease must watch their loved one slowly slip away. Ongoing research continues regarding the prevention and treatment of the disease. According to a […]
Pain and stiffness are common symptoms of arthritis. Arthritis is an unpleasant chronic ailment. Because it is painful and affects movement, arthritis can be debilitating. Often flair ups mean those with the condition will require greater assistance from others. I can still remember when I was just a lad, my grandparents and senior family members […]
The role of probate judges is to oversee estate administration. Generally speaking, judges are responsible for upholding the local and federal laws in the courts. In some cases, this involves deciding on appropriate discipline for criminal actions. In other cases, judges must oversee the execution of legal documents for business arrangements or estate plans. According […]
Leaving an inheritance to a minor child is not a minor matter. Some children grow up and become adults. Other children just keep having more birthdays. If you understand the distinction, then you may even have children in each camp among your heirs. Regardless, even if a minor child is the responsible "old soul" among […]
A reverse mortgage is like many financial decisions - there are positives and negatives. If you have watched any cable television, then surely you have seen Tom Selleck as the spokesman for a reverse mortgage company. Run a search on the internet for "Tom Selleck reverse mortgage," and you may think he has committed a […]
A "pour-over will" is an often misunderstood legal document. In fact, a "pour-over will" is really just a "last will and testament," which is always paired with a revocable living trust (RLT). And a pour-over will may have no practical purpose if its maker (i.e., the "testator," if male, or the "testatrix," if female) has […]
Macular degeneration is a fundamental threat to your sense of sight with increasing age. Ah, the "golden years"? I am starting to understand that age-old expression "old age is not for sissies" with each passing birthday. Surprise? As we age, our four fundamental "senses" age with us. So it is with our sense of sight. […]
Your home deed represents one of your most valuable assets. Some people add the name of an adult child to the title of their home deed. Why? For probate avoidance. Since children tend to outlive their parents, this seems a simple solution. Not so fast. As with much of life, what appears simple on the […]
Commercial solicitations are permitted by the Missouri Rules of Professional Conduct but are neither submitted to nor approved by the Missouri Bar or the Supreme Court of Missouri.
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.
REMEMBER: “The choice of a lawyer is an important decision and should not be based solely upon advertisements.” This statement is required by rule of the Supreme Court of Missouri.
