A payable on death account is one means of transferring assets to heirs. There are several ways assets are distributed. The most commonly recognized is a last will and testament. Other options include gifts, trusts, and beneficiary designations. According to a recent Sports Grind Entertainment article titled “Payable on Death (POD) Accounts,” a payable on […]
Your planning may need to adjust to a new federal estate tax. Most people cringe at the mention of taxes. The exceptions would be those whose livelihoods depend on taxes like accountants, IRS agents, and other government officials. If your employment does not find you within one of these exceptions, incomes taxes, property taxes, inheritances […]
An estate plan is essential to protect your loved ones and their futures. Estates planning can become quite complex for those with complex assets wealth or family tensions. Those who require a only a "simple" plan, may be surprised at the number of documents required to meet their needs. It is safe to say estate […]
Prince Philip left a fortune when he died. April 9 was especially challenging for the House of Windsor with the death of Prince Philip Duke of Edinburgh. This spring, Prince William and Prince Harry lost their grandfather. Princess Anne and Princes Charles, Andrew, and Edward lost their father. Queen Elizabeth lost her husband and best […]
People should prioritize getting their affairs in order through estate planning. Many things and people demand your time and attention. Perhaps you have a complex project at work you need to complete. Maybe your children need a ride to baseball practice. Perhaps the dishes from two nights ago need to be washed. Although important, these […]
Using a transfer on death deed is one tool for distributing property. Estate planning is multifaceted. It involves considering taxes, health care, finances, property, and business interests. The methods used in estate planning can either align with or interfere with your goals. According to a recent The Williamson Daily News article titled “Estate planning ensures […]
Wealth is not a prerequisite for estate planning. Newspaper headlines remind us the rich and famous need estate planning. After all, prince or pauper, no one gets out of this life alive. In fact, Prince is one example of this fact. Although he was a successful musician and his image was important to him, Prince did […]
It is possible to avoid probate with estate planning. For many, probate sounds like a scary word. Although probate is essentially the process for settling an estate in the local court, it can produce anxiety. Probate is often associated with lengthy proceedings and greater tax consequences. These negative aspects of probate are heightened when a […]
Creating a trust can provide estate planning protections for your children. Your children are adults in the eyes of the world. Even so, your adult children will always be your babies. As such, you still want to protect them. Some children grow up and other children just keep having more birthdays. According to a recent […]
Gifting is a popular estate planning and wealth transfer tool. You are considering giving money to charities or family members as part of your estate planning strategy. Perhaps you are what is now considered "wealthy" and desire to use the gift tax exemption to decrease your taxable estate. Maybe you may simply enjoy supporting 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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