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Category: Estate Planning

Estate planning mistakes

Are Most Mistakes in Estate Planning Avoidable?

POSTED ON: April 7, 2022 BY: Kyle Krull
Making mistakes in a last will and testament is costly. Everyone makes mistakes. It is part of being human. Learning lessons from experience allows people to avoid repeating these actions. Sometimes there is not an opportunity for a second chance. In these instances, it is wise to consider the experiences of others. According to a […]
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Discretionary trust

When Might a Discretionary Trust be Helpful?

POSTED ON: April 5, 2022 BY: Kyle Krull
A discretionary trust can protect against mismanagement of trust funds. Those who desire to avoid probate often utilize trusts in their estate plans. This is accomplished through retitling assets to the trust. Because the assets are not under your name, they are not included in your personal probate estate. According to a recent The Facts […]
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Getting married again

How Are Finances Impacted by Getting Married Again?

POSTED ON: April 4, 2022 BY: Kyle Krull
Getting married again means more than planning another wedding. Remarriages are fairly common in the United States. Whether the result of death or divorce, they often involve more considerations than a first marriage. Couples must consider a number of factors as they blend families. According to a recent CNBC article titled “Remarrying? Here are financial […]
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Estate planning conversations

What Estate Planning Conversations Should I Initiate?

POSTED ON: March 31, 2022 BY: Kyle Krull
Parents and adult children should have estate planning conversations. Communication is important in all areas of life. Both work and relationships suffer from a lack of good communication. Some dialogues are relatively simple to approach while others can trigger tension and anxiety. When the latter is true, people tend to avoid conversations. According to a […]
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Investing in cryptocurrency

What is Involved in Investing in Cryptocurrency?

POSTED ON: March 30, 2022 BY: Kyle Krull
Investing in cryptocurrency can have financial and estate planning impacts. Making investments is a risky business by definition. Even so, stocks and bonds and other investments are a common and necessary practice for outpacing inflation and for preparing for retirement. With the introduction of cryptocurrency, the landscape of investing looks a little different now. According […]
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Physicians

Why Must Physicians Prioritize Estate Planning?

POSTED ON: March 29, 2022 BY: Kyle Krull
Physicians should have estate plans. Doctors undergo long years of schooling and residency to practice medicine. This requires incredible focus and dedication. As they begin their practices, these physicians shift this attention to building and maintaining their practices. According to a recent Medical Economics article titled “Physicians, get your estate in order or the court […]
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Inherited IRA

Can I Avoid Taxes on an Inherited IRA?

POSTED ON: March 25, 2022 BY: Kyle Krull
An inherited IRA can carry significant taxes and fees. Gone are the days of the stretch IRA. The ability of families to pass their retirement accounts through generations was a beneficial tool for many. With the passing of the SECURE Act, an inherited IRA has a limited shelf life. According to a recent Aol.com article […]
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Distributing a house through a trust

What Trust Should I Use to Pass my Home to Heirs?

POSTED ON: March 24, 2022 BY: Kyle Krull
Placing a home in a trust can be helpful or harmful. Protecting wealth and distributing assets can feel overwhelming. People worry about protecting their assets from bad life choices made by their heirs. They also worry about tax implications and whether their heirs will be able to pay these after they have died. According to […]
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House deed

Should I Include My Heir on My House Deed?

POSTED ON: March 23, 2022 BY: Kyle Krull
Retitling a house deed can lead to unfortunate unintended consequences. You own a home. If you are like many people, this is likely your most significant asset. As such, it should be an priority to consider in your estate planning. According to a recent St George News article titled “Naming a child on your deed […]
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Siblings splitting an inheritance

Can I Split My IRA Inheritance with My Siblings?

POSTED ON: March 22, 2022 BY: Kyle Krull
Splitting an inheritance with a sibling after the death of a loved one can be complicated. Your family is close. All siblings are equally responsible and none has any marital strife (of which you are aware). In short, your family has few liabilities but has ample love and respect for each other. Your parents explained […]
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