Marital trusts protect couples and their families. Family gatherings are common during the holidays. For some, these are fairly simple logistically and emotionally. Loved ones live nearby and get along reasonably well. For many, the time is filled with stress around scheduling and relationship dynamics. It can be hard enough to manage holidays between the […]
Advance health care directives are a vital component of incapacity planning. It never hurts to be prepared. This statement rings true whether you are studying for a test, dressing for the weather forecast, or getting food ready for family gatherings. Preparation is also necessary for unexpected events like accidents, injuries, or illness. In short, the […]
Making a charitable contribution can benefit the giver and receiver. It is now the month of December. Whether you celebrate Christmas or Hanukkah, holiday preparations are well underway. Travel is being planned, lights and decorations are going up, and treats are being baked. You have likely started preparing gifts for your friends and family. Perhaps […]
Those who put a house into a trust may find several benefits. Most people find their home is the largest single asset they own. Whether in Overland Park or other parts of Johnson County, real estate prices have increased significantly over the past three years. Because houses are expensive investments, there is greater urgency in […]
Updating a last will and testament or a trust may be necessary one or more times after the initial creation of the estate plan. Many ask, "Why should I update my will or trust?" Chances are you are used to the concept of routine maintenance. Hair and nails need to be cut and trimmed. If […]
It is possible to reduce funeral expenses. Not everyone plans ahead for their own burials. When they do, these people are often surprised by the cost of funerals. If they do not plan ahead, their loved ones can be left with sticker shock and a hefty bill. According to a recent Kiplinger article titled “Six Ways […]
An inheritance can be tricky to navigate, depending on the asset. Some people are chosen to receive an inheritance. Their loved ones created an estate plan and made a point to include them. Others inherit by default because a relative died intestate. According to a recent CNBC article titled “Receiving an inheritance? Here’s how experts say […]
Disinheriting a family member is the choice of the person who creates the estate plan. People are responsible for their own money. They can choose to spend it all before they die, donate it to charity, or leave some, all, or none of it to loved ones. Essentially, an inheritance is a gift, not a […]
Mick Jagger may have estate planning on his mind. Musicians are not generally known for their estate planning successes. In recent years, artists like Prince and Aretha Franklin have made headlines for leaving a mess for probate courts and loved ones to manage. Prince had no estate plan in place, while Franklin left loved ones […]
Trust funds and wills are both estate planning documents. The average person has likely heard of last wills and trust funds. Last wills receive attention as plot devices in books, television shows, and films. Trust funds are often mentioned when people discuss families with generational wealth, like the Rockefeller family. While these contexts can provide […]
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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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