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Category: Estate Planning

Bank accounts

How are Bank Accounts Inherited?

POSTED ON: August 11, 2023 BY: Kyle Krull
Bank accounts do not have to pass through probate. With most actions in life, there is typically an easy and a hard way to accomplish the same task. Although one can hand wash every plate, bowl, fork, knife, and spoon after dinner, it is more efficient to simply load and run a dishwasher. Sometimes easy […]
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Death of spouse

What Responsibilities are Triggered by the Death of a Spouse?

POSTED ON: August 9, 2023 BY: Kyle Krull
The death of a spouse means additional responsibilities. Being married has numerous benefits. It allows for constant companionship and emotional support. It also enables couples to divide responsibilities and lighten individual burdens. According to a recent Forbes article titled "What To Do After The Death Of A Spouse," these benefits are immediately lost after a […]
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Aretha Franklin

What was the Fate of the Aretha Franklin Estate?

POSTED ON: August 8, 2023 BY: Kyle Krull
The estate of Aretha Franklin took years to settle. Communication is essential in various aspects of life. Spouses with poor communication can quickly grow apart and find resentment building. Inadequately outlined procedures and structures can be the bane of businesses. Failing to share about estate planning wishes can lead to costly court battles. Understatement. According […]
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Letter of instruction

How Can I Organize my Letter of Instruction?

POSTED ON: August 7, 2023 BY: Kyle Krull
A letter of instruction supplements legal estate planning documents. Some things are unnecessary but are helpful. For example, TSA pre-check and Global Entry are not required to travel by air. Those who travel by airplane infrequently may find the cost of these to be unjustifiable. Others who fly frequently internationally and domestically for business or […]
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Siblings

Can Siblings Share an Inherited House?

POSTED ON: August 4, 2023 BY: Kyle Krull
Sharing an inherited home with siblings can become complicated. Siblings do not always share well. While this is often obvious when they are children, many brothers and sisters are no better when they become adults. Even those who have learned to share well may struggle occasionally in adulthood due to circumstances. Some children grow up, […]
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Estate planning attorneys

Do Estate Planning Attorneys Serve a Purpose?

POSTED ON: August 3, 2023 BY: Kyle Krull
Estate planning attorneys are essential to protecting yourself and your loved ones. Attorneys tend to get a bad “rap," deservedly or undeservedly. I know numerous unflattering jokes about attorneys. Like all comedy and humor, what makes them funny is the hint of truth and relatability. Okay, here is one of my favorite attorney jokes. In […]
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Glenn Frey

Who Inherited the Estate of Glenn Frey?

POSTED ON: August 2, 2023 BY: Kyle Krull
Glenn Frey left both a legacy of music for the world and provision for his family. Many people dream of being a guitarist in a successful band. Few realize this dream. Glenn Frey was one of the few fortunate and talented individuals who made a living from making music for the enjoyment of the masses. […]
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Multigenerational

How Is a Multigenerational Family Home Inherited?

POSTED ON: July 28, 2023 BY: Kyle Krull
Multigenerational estate planning should be completed with an experienced estate planning attorney. Families are an essential consideration in estate planning. Sometimes family dynamics are fraught with tension. Other families share deep relationships and connections among and between the generations. According to a recent Kiplinger article titled "How to Handle Estate Planning for Multigenerational Living Arrangements," both […]
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Missing heir

How Can a Missing Heir be Found?

POSTED ON: July 26, 2023 BY: Kyle Krull
Finding a missing heir is not always easy. Heirs are those individuals who receive inheritances from someone who has died. Generally, these heirs are family or friends. When people create a last will and testament, they designate their heirs. They can include or exclude almost anyone they like. According to a recent Next Avenue article […]
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Trusts

How Different are Wills and Trusts?

POSTED ON: July 25, 2023 BY: Kyle Krull
Distinct differences exist between wills and trusts. Estate planning typically involves creating a will-based or a revocable living trust-based plan. Both have been used for generations to transfer assets to loved ones successfully. While most people have likely heard both terms, they still may be confused about the differences between wills and trusts. According to […]
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