Managing estate paperwork can seem daunting after the death of a loved one. The list is long. Even with a well-organized estate plan, knowing what to do after the death of a loved one is challenging to navigate. You are dealing with the grief of a deep personal loss. At the same time, demands are […]
The estate of Larry King underscores the importance of estate planning. Larry King had both highs and lows in his career and his personal life. Despite these challenges, he had an uncanny ability to persevere after mistakes and mishaps. According to a recent The National Law Journal article titled “Larry King Will Contest—Key Takeaways,” this […]
COVID-19 deaths are more likely for individuals who meet certain criteria. When news of COVID-19 hit the United States, doctors and researchers speculated regarding the demographics that would be particularly vulnerable. The first population considered was the elderly. Although an older age places one at greater risk of dying or becoming severely ill from COVID-19, […]
Whole farm planning involves considering the next generation. If you own a family farm, your wealth is in your work. You may have inherited the land from previous generations. Perhaps you plan to pass this family business to your children and grandchildren. A smooth transfer of a farm does not simply happen. It takes forethought. […]
Including a living trust in your estate plan has its benefits. It is important to create an estate plan. When done right, it protects everyone you love and everything you have. DIY estate planning can have unintended, negative consequences. This is especially true if your goals and needs would benefit from a trust. According to […]
The federal estate tax is likely to affect more people under the President Biden administration. The estate tax threshold has been farm, ranch, small business, and entrepreneur friendly in recent years under President Donald J. Trump. The current threshold sits at $11.7 million for an individual and $23.4 million for a couple filing jointly. Any […]
A trust can serve several purposes in estate planning. When it comes to estate planning, trusts are versatile tools. Although many people consider trusts to be of value only to millionaires and billionaires, this is not accurate. Rather, the average American may find that a trust would best meet their estate planning goals for their […]
Family businesses require comprehensive estate planning. They provide quality products and services to communities as well as income and skills to future generations. Starting a family business takes perseverance and passion. Running it takes daily attention to detail. According to a recent The Times Reporter article titled “Succession planning for family businesses,” all your work […]
Certain collections could be worth a fortune. Nostalgia is a significant market. Movies, clothing, and toys from the past often trigger fond childhood memories. People find both monetary and sentimental value in the items they collect. According to a recent The Wealth Advisor article titled “Estate Planning for Your Collections May Be a Smart Decision […]
The estate of Aretha Franklin may owe money to the government. Aretha Franklin certainly had a beautiful voice. Unfortunately, her estate was left in an mess. This left a mess for her family. According to a recent Detroit Free Press article titled “Aretha Franklin estate reaches deal with IRS to pay off claimed $7.8 million […]
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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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