Transfer on Death accounts can be used wisely or poorly. When it comes to passing inheritances to heirs, there are a variety of options. Most commonly, people think of using a last will and testament or a revocable living trust (RLT). Fewer people initially think of transfer on death (TOD) designations, or payable on death […]
Estate planning is fraught with myths. What people believe influences what they do. For example, children who think monsters are under their beds tend to avoid their rooms at night. When doctors believe their patients have specific ailments, they order certain tests. If people believe integrity is important, they will not speed on a road […]
Farm transfers should be carefully addressed in estate planning. However, running a farm is not for the faint of heart. The weather dramatically impacts the health of soil and crops. Additionally, animals require daily care. According to a recent Successful Farming article titled “Is 50 Too Early For Estate Planning?,” finding time to create an […]
Blended families have more estate planning "moving parts" to consider. Baking is a relatively benign form of chemistry. Ingredients are combined in specific amounts, at specific times, and at specific temperatures based on how they interact. If done well, the result is a tasty treat. If the ingredients were bad or the measurements were incorrect, […]
Paying for a funeral can be a costly expense. Dying is not cheap in America. Families are often left with a significant bill for the costs of burial. The National Funeral Directors Association lists the median cost of burial as $7,848. The average cost of cremation and a funeral is $6,970. Often, these expenses are […]
You can give an inheritance while you are living. Timing can make a big difference. A split second late on a baseball swing can leave you with a strike rather than a home run, yes? Being born a few minutes before midnight on New Year’s Eve gives parents a tax break. According to a recent […]
Transferring real estate to adult children can be complicated. The current housing climate makes purchasing a home rather challenging. As a result, fewer people are buying and selling. It also underscores the importance of including home transfers in estate planning. According to a recent Urban Turf article titled “How Can Parents Transfer Real Estate to Their […]
Military veterans often have burial benefits. Members of the armed forces spend part or all of their careers serving the country. The work requires personal sacrifice as military members often miss holidays and important family milestones. While many give the ultimate sacrifice in the line of duty, others eventually enter into civilian life. As Jose […]
Anxiety has led to an increase in estate planning. As a result, a lot has changed since the start of 2020. A once-strong economy is now racked with inflation. The COVID-19 lockdowns also rocked the sense of stability and security. According to a recent SI Live article titled “More young adults are creating wills because of […]
Vitamin D can reduce the likelihood of dementia development. Dementia is a concerning condition for those who are aging or who have an aging loved one. Although not everyone develops this condition, those who develop it can struggle to live independently. Loved ones often have increased concerns over the health and safety of their loved […]
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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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