Inherited IRAs are subject to comprehensive federal rules. An important part of retirement planning is saving money in a traditional IRA or 401(k). These tools provide an opportunity to save for retirement while deferring taxes on the contributions. Through investment, these accounts can grow to provide a sizable income for you in retirement. According to […]
The cost to young families without an estate plan is high. Young families are busy. Understatement. Diaper changing, potting training, doctor visits, meal times, and bedtime routines are exhausting. Many parents feel as if their lives are in constant motion and chaos. They can barely muster enough energy to go to bed much less think […]
Your "digital assets" require estate planning, too. Traditionally, estate planning has involved the transfer of property like real estate, collections, bank accounts, and investments to the next generation. Although this is still accurate, your property likely includes digital assets now. According to a recent Tech Crunch article titled “What happens to your NFTs and crypto […]
Powers of Attorney are necessary for incapacity planning. It is impossible to predict the future. Sudden illnesses, car accidents, or work injuries can leave you and your family in a precarious position. This danger is heightened if you failed to put fundamental legal protections in place. According to a recent My Prime Time News article […]
A family-owned business will likely fail without a business succession plan. You run a family-owned business. Serving your clients or customers brings you both joy and income. In fact, your business is your most significant financial asset. This means you have much to lose through life events, whether disability, retirement, or death. According to a […]
Marilyn Monroe had no family to inherit her estate. Few starlets have captured the hearts of generations like Marilyn Monroe. As Elton John sang, "Goodbye, Norma Jean." Her success on screen and her tragic death in 1962 have piqued admiration and speculation, respectively. Unlike many other celebrities, Marilyn Monroe had an estate plan when she […]
It is essential for adult children to know about the estate plans of their parents. There are many changes associated with having adult children. You have seen them begin careers and start families. You have moved from the role of provider and protector as they have assumed these responsibilities for themselves. Despite these milestones, it […]
Personal and financial maturity are fundamental to being prepared to receive an inheritance. Your children are adults. Each of them has embarked on higher education, technical training, done a stint in the military, or gone right into the workforce. As you prepare your estate plan, you begin to wonder whether your children are capable of […]
It can be hard to talk about estate planning with your parents. The relationship between parents and children is special. You were utterly dependent on your parents in your early life. At some point, your parents will depend on you. According to a recent Yahoo! Finance article titled “How To Talk to Your Parents About […]
The coronavirus underscored the importance of estate planning at any age. Estate planning is often associated with those who are older. This is likely because "seasoned citizens" have experienced more life and are coming closer to the end of their own lifespans. In short, they recognize their own mortality. According to a recent Insurance News […]
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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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