Carefully consider when you should claim Social Security benefits. You are nearing retirement. As you review your finances, you are trying to determine when you should claim your Social Security benefits. You wonder at what age Social Security is most commonly claimed. The answer found in a 2020 analysis by the Bipartisan Policy Center was […]
All adult Americans need an estate plan. Age 18 is an important year. In many states, this is the age when you can first vote, join the military, and be recognized as an independent adult. Although being an adult in the legal sense comes with many benefits, you also have greater responsibilities after hitting this […]
It is important to prepare for your estate planning meeting. You have scheduled an appointment with an experienced estate planning attorney. Congratulations! You have taken the first important step to protecting everyone you love and everything you have. By simply making an appointment, you are ahead of the majority of your American peers in estate […]
Leaving an equal inheritance is not always fair. And, leaving a fair inheritance is not always equal. It can be complicated, yes? You have several children. As you plan for your asset distribution, you consider giving equal amounts to each. This seems fair at first glance. According to a recent The New York Times article […]
Select and purchase a burial plot before you die. When you die, your remains will need to be laid to rest. Some people choose to be cremated. Their ashes are then spread or stored. Those who choose not to be cremated will need a burial plot, unless you choose to have your cremains buried in […]
An estate plan discussion can preserve family relationships. Death is an unpleasant topic. I get that. As Woody Allen famously quipped: "I'm not afraid of death; I just don't want to be there when it happens." Few people want to think about their loved ones being gone. The harsh reality is everyone dies. According to a recent U.S. News […]
Selecting a funeral plan in advance can save money. Dying is not cheap. Unfortunately, many people do not consider the costs associated with burying a body. This means their loved ones are left to make these decisions after they are gone. These arrangements must then be made in a short period of time. According to […]
A SLAT can help with your estate tax liability and much more. People have different tax liabilities, especially when it comes to estate taxes. For those with high tax exposures, how assets are transferred is of particular importance. Leaving assets outright through traditional estate planning tools, like a last will or a revocable living trust, […]
Your estate planning decisions have tax implications. When you think of estate planning, you probably think of who you want to inherit your assets. Perhaps you also consider who would rear your minor children if they were orphaned. What many people do not consider are the tax implications of their planning decisions. According to a […]
Making a trust an IRA beneficiary can be complicated. You have a traditional IRA as part of your retirement planning. This tool serves you well and is straightforward in providing retirement income. Even so, an IRA can complicate matters in estate planning. According to a recent Wealth Advisor article titled “Should A Living Trust Be […]
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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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