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 […]
The finances and health of "elder orphans" are in greater danger than for those who have family. Orphans are a vulnerable population. They have lost both parents and are at risk of being abused, neglected, or exploited. Elderly individuals can also become vulnerable when they have no living spouse or family. One term for these […]
Organization can be helpful for future planning. Many people jump into Spring cleaning during this time of year. They have a list of projects they want to tackle before the oppressive heat of summer. Sometimes these projects are thwarted by uncooperative weather like we have been experiencing in Overland Park of late. According to a […]
Passing a vacation home to the next generation is rarely straightforward. A vacation home fills a variety of roles. For a lot of my clients, they are places to gather with family and friends to make memories. For others clients, they provide a retreat from the demands of daily life. And for yet others, a […]
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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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