Gifting a home to children can be a more complicated estate transfer. Houses are the most valuable assets for many people. They can also be one of the more complicated assets to distribute to heirs. Many aspects like taxes and how to divided the value of a home should be discussed and addressed in estate […]
Estate planning needs vary according to age and life stage. People change throughout their lives. Perhaps you have noticed this. Not only do we grow physically from infancy to adulthood, but new goals and priorities also develop. These influence choices within various areas over our lifespans. According to a recent The Seattle Times article titled […]
A co-trustee can be helpful in the administration of an estate. Revocable trusts can simplify the distribution of assets after death. Often trustmakers (aka grantors) make themselves the trustees of revocable trusts while they are alive. In addition to serving as trustees themselves, some individuals choose to appoint co-trustees. According to a recent The Street […]
Social Security benefits may not be guaranteed to those conceived through in vitro after death. Many couples have fertility trouble. When getting pregnant naturally is not an option, many seek other avenues. Some choose adoption. Others commonly choose in vitro fertilization. According to a recent The Free Press article titled “Courts Ponder Benefits In Florida […]
Choosing agents requires careful consideration. Very considered consideration. Successful estate planning, including incapacity planning, does not rely on the validity of the signed documents alone. Although the preparation and execution of the documents is essential, the content is equally important. The right fiduciaries and agents must be clearly appointed. According to a recent Nasdaq article […]
The state of the economy will impact your estate planning. For better or worse, money is necessary for life in American society. People work to earn money to pay for food, clothing, shelter, and healthcare. When the economy changes, so do the financial circumstances of individuals and families. According to a recent Financial Advisor article […]
“Upstream planning” is important with multi-generational wealth. Not all people have the same estate planning needs. Some people will use all of their retirement savings and have little to nothing to pass to their children. Others have significant wealth and would like these funds to pass from generation to generation. According to a recent Kiplinger […]
The estate and gift tax exemption is set to decrease in 2026. Estate taxes do not affect everyone. With a threshold of $12.06 million for individuals and $24.12 million for married couples, few American households need to plan for federal estate taxes at this time. But, whoa. This may be changing in the not-too-distant future. […]
Taking steps to create a successful estate plan will pay off. Many people enjoy knowing exactly what they need to do before taking the required steps to accomplish something. In many cases, it is comforting to know what is expected. Without clear directions, the fear of doing something wrong paralyzes them. I know I feel […]
Talking with aging parents about estate planning is uncomfortable but necessary. People often avoid unpleasant conversations about various "elephants" in the room. Although avoiding an "elephant" can make everyone in the room feel less anxious in the moment, the relief is temporary when the elephant begins to move about. Unfortunately, "elephant avoidance" among family members […]
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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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