Some people cannot avoid a will contest despite their best efforts. Estate battles of the rich and famous are often in the news. Small mistakes in ones estate planning can put thousands or millions of dollars in assets at risk. For example, John Lennon failed to name is first son in his last will. The […]
Michael Fuchs and his wife Alvina Collardeay-Fuchs are divorcing. While people may be equal in their inherent worth and value, they do not have the same financial situations. Some individuals have far more to lose financially than others. Billionaires may have more to lose than most of us can ever imagine earning. According to a […]
Estate planning mistakes can be costly in time and money. Everyone makes mistakes. It is part of being human. Sometimes these missteps are made out of ignorance. Other times they arise from forgetfulness. According to a recent Kiplinger article titled “5 Common Estate Planning Mistakes to Avoid,” the reasons for estate planning mishaps do not […]
Prenuptial agreements can be helpful for many people. The last thing many couples in love want to do is get a prenuptial agreement. Prenups have a bad reputation of being cynical. So much for "all for one and one for all"? People believe these agreements are a sign one or both parties are expecting infidelity, […]
Your children may have expectations about what they want to inherit. Parents know each child is unique. Even if there are certain similarities in interests or physical appearance, siblings have different priorities, strengths, and personalities. As a parent, navigating the specific needs of each child can be challenging. According to a recent Entrepreneur article titled […]
Tom Brady and Gisele Bündchen have finalized their divorce. Although celebrity couples often seem to live charmed lives, they are not immune to common relationship struggles and conflicts. The marriage between Tom Brady and and Gisele Bündchen has become the most recently publicized example. The couple shared about their divorce on their individual instagram accounts. […]
The lifetime gift tax exemption will increase in 2023. As 2022 draws to a close, people are more interested in tax guidelines in 2023. Tax laws and exemptions are often impacted by the economy. Knowing these numbers is helpful for estate and tax planning in the coming years. According to recent Forbes article entitled “Lifetime […]
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 […]
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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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