The fate of the Michael Nesmith estate is uncertain at this time. It is an all-to-common story. A celebrity dies and leaves behind either no estate plan or an inadequate estate plan. This results in confusion surrounding the fate of the estate. According to a recent Monterey County Weekly article titled “Michael Nesmith's four children […]
Non-probate assets are commonly overlooked in estate planning. Estate planning involves a lot of unique words like last will and testament, probate, and assets. While these words are uncommon in the daily vocabulary of most individuals, they are important words to understand. A last will is a formal legal document used to guide a probate […]
A revocable inheritance trust is useful in the event of divorce. Although people do not enter marriage hoping for or expecting a divorce, separations and divorces are nevertheless fairly common. Going through a divorce takes emotional, physical, and mental energy. <Understatement?> It also can be quite expensive in terms of legal fees and divorce agreements. […]
Certain items may be appreciated more by others than your heirs. You likely have heard the phrase “one person’s trash is another’s treasure.” This statement is certainly proven true at garage sales and online marketplaces. The alternative is also true. What some people treasure, others finds worthless. According to a recent Next Avenue article titled […]
Farmers should utilize portability in their estate planning. Farming is not an easy profession. Those who care for their land and animals know the will and ability to do this work is in their blood. Many have inherited the drive, perseverance, and diligence from their ancestors. While the character of a farmer may be instilled […]
For most families, the estate planning process is more involved than simply naming beneficiaries. While the primary goal of estate planning is transferring assets in an orderly and tax-efficient manner, it’s just as important to focus on preserving wealth across generations.
Certain wealth transfer could require the filing of a gift tax return. Some people really like giving gifts and do so any chance they get. That is their love language. Others struggle to give presents for one reason or another, even on special occasions like birthdays and holidays. Wherever you naturally fall when it comes […]
Estate plan updates are vital to protecting loved ones and your assets. What comes to mind when you consider risky behavior? Tom Cruise in "Risky Business"? I digress. Perhaps you think of climbing a mountain without ropes. Maybe you envision people parachuting out of perfectly good airplanes. You likely believe few people choose high stakes […]
Long-term care insurance is better to purchase before you need it. Once again, I have mastered the obvious. As people age, financial priorities shift. Sometimes, this is a result of changes in circumstances. Other times, it stems from gained wisdom and experience. When it comes to preparing for retirement and health care needs, all of […]
Singles benefit from estate planning. There has been a trend for several years to delay marriage. This means many people are often single throughout their twenties and into their early thirties. It may be tempting for these individuals to forgo estate planning because they have no obvious heirs. According to a recent Hood County News […]
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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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