The estate of Larry King underscores the importance of estate planning. Larry King had both highs and lows in his career and his personal life. Despite these challenges, he had an uncanny ability to persevere after mistakes and mishaps. According to a recent The National Law Journal article titled “Larry King Will Contest—Key Takeaways,” this […]
COVID-19 deaths are more likely for individuals who meet certain criteria. When news of COVID-19 hit the United States, doctors and researchers speculated regarding the demographics that would be particularly vulnerable. The first population considered was the elderly. Although an older age places one at greater risk of dying or becoming severely ill from COVID-19, […]
You can save on taxes with qualified charitable distributions. Few people look forward to any portion of their income ending up in the hands of the government. Even if they cannot keep and use all of their funds for themselves and loved ones, many people prefer to have a say in how the funds are […]
Aging brings with it more health issues. You are getting older. With each passing year, you have more wisdom and experience. Perhaps you are finding a few gray hairs and noticing laugh lines around your eyes. How about a few "wisdom spots" (that is what my dermatologist calls them) here and there on your skin? […]
Whole farm planning involves considering the next generation. If you own a family farm, your wealth is in your work. You may have inherited the land from previous generations. Perhaps you plan to pass this family business to your children and grandchildren. A smooth transfer of a farm does not simply happen. It takes forethought. […]
Including a living trust in your estate plan has its benefits. It is important to create an estate plan. When done right, it protects everyone you love and everything you have. DIY estate planning can have unintended, negative consequences. This is especially true if your goals and needs would benefit from a trust. According to […]
The federal estate tax is likely to affect more people under the President Biden administration. The estate tax threshold has been farm, ranch, small business, and entrepreneur friendly in recent years under President Donald J. Trump. The current threshold sits at $11.7 million for an individual and $23.4 million for a couple filing jointly. Any […]
A trust can serve several purposes in estate planning. When it comes to estate planning, trusts are versatile tools. Although many people consider trusts to be of value only to millionaires and billionaires, this is not accurate. Rather, the average American may find that a trust would best meet their estate planning goals for their […]
Family businesses require comprehensive estate planning. They provide quality products and services to communities as well as income and skills to future generations. Starting a family business takes perseverance and passion. Running it takes daily attention to detail. According to a recent The Times Reporter article titled “Succession planning for family businesses,” all your work […]
Tax mistakes in retirement can threaten financial security. Saving for retirement is important. We have all heard this, yes? You need money to pay for bills, mortgages, food, and vacations. Once you enter retirement comfortably, you may be less than careful with your finances. According to a recent Money Talks News article titled “5 Tax […]
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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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