Financial planning will change after the death of a spouse. Your spouse has recently passed away. You are not sure how you made it through the funeral arrangements and the estate settlement. Somehow you did. Your heart is shattered, and you feel lost You know you need to take care of yourself, but you are […]
A Charitable Remainder Trust can be a tax-efficient means of passing on your IRA when you die. You have been saving for retirement for most, if not all, of your working years. Each year you have set aside a portion of your paycheck into a company-sponsored retirement plan or a traditional Individual Retirement Account (IRA). […]
Creating a living trust can expedite the settlement of your estate. Some people have few concerns when it comes to settling their estates in probate. Perhaps they have minimal assets, uncomplicated family dynamics, and need the probate judge to approve their choice of guardians for orphaned minor children anyway. These individuals may be perfectly happy […]
A Donor-Advised Fund can help those with charitable hearts distribute donations. Many who do have money choose to give to others. One way is by giving to loved ones. Another way is to donate to a charitable organization. According to a recent Fort Worth Magazine article titled “Choosing Charity: How Donor-Advised Funds Benefit Your Contributions,” […]
The status of "senior citizen" can seem hard to define. The term senior citizen is commonly used in the United States. For some, this term is decades away from applying to them. For others, it is closer than they realize. Still others may be considered senior citizens and be blissfully ignorant of this fact. According […]
Purchasing life insurance became a priority for many in response to COVID-19. Many people under age 44 do not see a need to purchase life insurance. They consider themselves to be young, healthy, and at low risk of death. In the last few years, this age demographic had submitted a relatively low volume of life […]
Choosing between “per stirpes” and “per capita” will impact asset distribution. Estate planning can be nuanced. Those who are unfamiliar with legal terms, tax law, and estate law can easily make costly mistakes. Many people attempt to create a do-it-yourself will. Doing so can create unintended problems for your loved ones and your estate. According […]
The stakes are high when your spouse is dying. Death is an unpleasant reality, but a reality nevertheless. It carries with it loss and grief. Preparing for the death of a loved one is never easy emotionally, mentally, or physically. This is especially challenging when your spouse is dying. According to a recent Market Watch […]
Estate planning laws may change under Joe Biden. New leadership brings changes. This is true of companies, teams, and the United States government. The recent elections shifted the White House and Senate to Democrat majority. According to a recent St. Louis Business Journal article titled “Estate planning in light of a new presidential administration: What […]
The act of disinheriting a child must be thorough. It is not uncommon for family relationships to undergo strain. Family members may become estranged and not see one another for decades. Other families simply suffer from diminished trust. Some children grow up. Other children ... just continue to have more birthdays. In short, not all […]
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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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