A home is a large investment physically and financially. Owning a home requires commitment. A lot of it. Becoming a homeowner involves monthly mortgage payments as well as property taxes. Properly maintaining the home is also not cheap. According to a recent Real Simple article titled “For Retirees, a Home Could Be Your Largest Asset—or […]
Not all assets are equally beneficial to inherit. People have preferences. Sometimes these are fairly arbitrary like whether someone enjoys dark or milk chocolate. [Given a choice, I always opt for dark.] Other preferences stem from what makes the most sense well-considered reasons. According to a recent Kiplinger article titled “6 of the Best Assets […]
Owning a family business requires thoughtful succession planning. Family businesses come in all shapes and sizes. Some offer goods. Others offer services. According to a recent The Tampa Bay Business Journal article titled “Selling a family business: Plan to maximize value and preserve wealth,” estate planning and succession planning are essential to any of these […]
Certain symptoms of dementia present prior to memory loss. Losing a loved ones is a heartbreaking experience. Death is an unpleasant reality of being human. Although death is a universal experience, some lose their loved ones earlier through the memory loss and personality changes associated with dementia or Alzheimer’s. According to a recent The (UK) […]
The Prince estate may finally be finding resolution. The death of a celebrity often brings with it a sense of shock. Few people watch a movie or listen to a song and think about how the artists will eventually die. Although some celebrities live long lives, others die suddenly and tragically. This was the case […]
Aging well is not an impossible goal for 2022. Many people use the start of a new year to evaluate themselves. Some people take stock of their finances. Others look at their relationships. Many even consider their health as they are another year older. According to a recent Forbes article titled “10 Pieces of Expert Advice […]
A corporate trustee can benefit the management of a trust. Some tasks can be easily delegated to family and friends. Need groceries from the store? Send your child who can drive. Need plumbing in your bathroom fixed? Perhaps you should evaluate whether anyone has the appropriate skills. According to a recent The Quad Cities Times […]
Your residence will influence whether you owe an estate tax, an inheritance tax, or both. Taxes are a part of life and even a part of death. Just ask Benjamin Franklin. Although you cannot legally avoid payment of all taxes, choices you make can either increase or decrease the amount you owe. One important factor […]
Many Americans do not understand Social Security. Gone are the days where trading and bartering reigned supreme. Money is required to purchase necessities and, well, pay bills. This makes income essential at every life stage. Cash flow is king, they say. According to a recent Money Talks News article titled “6 Things Many Americans Get […]
Business owners should tie estate planning to succession planning. Owning and running a business is no small feat. If it were, more people would have their own businesses. Those who start a business must address all aspects including mission, finances, and staffing. According to a recent Index Fund Advisors article titled “How to Avoid a […]
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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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