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 […]
Financial affairs are often ignored as loved ones are dying. When loved ones are ill or dying, there already are many emotional and physical demands on the family. Family members are responsible for overseeing care. Sometimes this involves personally taking the loved one to appointments, preparing meals, or helping with bathing and dressing. Other times, […]
Life insurance provides protection for families with young children. Life insurance is not always necessary. If you are single and have enough saved to bury you when you die and pay any additional expenses or debts, you likely could bypass a policy. But what if you later marry, have children, and become "uninsurable" for some […]
Cryptocurrency can be easily misplaced after the owner has died. Non-digital and traditional assets are less likely to be lost or misplaced. Your children can see your home. They have probably admired your jewelry, art, and collectibles over the years. Bank and investment statements allow them to see how much money you in them. According […]
A testamentary trust can be created after you die. Some people really like the idea of using a trust in their estate planning. The control over the eventual inheritance distribution is appealing. These individuals are often torn between the appeal of a trust and the work it takes to maintain a trust. According to a […]
Reviewing an estate plan is too often neglected. Things simply do not improve on their own over time. Examples of entropy are everywhere. You know, that good old "Second Law of Thermodynamics" applied broadly? Weeds pop up in gardens. Dust accumulates on shelves. Paint begins to chip and peel. According to a recent WMUR article […]
Sometimes food can interfere with prescriptions. We tend to rely on prescribed drugs to be the first line of treatment for many illnesses or medical conditions. In fact, a study by the Lown Institute found 42 percent of Americans age 65 and older take five or more prescriptions daily. About 20 percent take more than […]
Trusts have several estate planning benefits. Many misunderstandings exist around estate planning. One of the most common misconceptions involves trusts. People tend to think this estate planning tool is only for those who are ultra-wealthy. According to a recent US News article titled “Trusts Explained,” a trust can address a number of estate planning goals […]
Incapacity planning requires valid power of attorney documents. Being picky is not always a bad thing. Purchasing expired groceries can lead to illness. Settling on a mate can lead to a lifetime of conflict and insecurity. According to a recent Medical Economics article titled “Avoid powers of attorney mistakes,” granting power of attorney authority to […]
A vacation home can be challenging to bequeath. Families often make and retain fond memories from vacations. For those who own a vacation home, these memories are often overwhelming tied to a specific location. After all: location, location, location. While vacation homes bring joy in life, they can bring complications when the owner dies. According […]
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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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