Real estate investments should be included in your estate plan. You have real estate investments. Perhaps your real estate is limited to your own home. Maybe you have expanded into commercial real estate investments. According to a recent Motley Fool article titled “How to Include Real Estate Investments in Your Will,” these should be addressed in […]
A Roth conversion may be a wise choice during these uncertain times. Planning for retirement is never easy. It requires budgeting and sacrifice. Saving for the future can feel even more daunting with the economic uncertainty of the current pandemic. According to a recent Jacksonville Business Journal article titled “Covid-19 and the CARES Act enhance the […]
Choosing to disinherit a family member requires appropriate estate planning. You have decided to disinherit a family member. Perhaps another loved one needs the money more. Maybe the person you are choosing to disinherit is irresponsible financially. As I tell my clients, some children grow up and others just keep on having more birthdays. Regardless, […]
Life insurance will be a useful estate planning tool. You want to leave an inheritance to your loved ones. To do so, you have created an estate plan. Even so, you are concerned about estate taxes. The are never "permanent" in terms of the applicable exemption limit. You know these could take a bite out […]
A codicil allows you to amend your last will and testament. You planned ahead. You created an estate plan with a last will and testament years ago. Life has a way of changing relationships and resources, yes? Consequently, changed a number of provisions in your last will no longer reflect your current circumstances. According to […]
Fiduciary duties require trustees to act on behalf of the trust first and foremost. Inheritances can bring out the selfish side of individuals. No, really. Every heir has his or her own idea when it comes to what they are "owed" and what they want to do with their new windfall. After all, they are […]
Strategic action can reduce taxes on your inheritance. You received an inheritance recently. You are not sure whether you need to pay taxes. Although there is no federal inheritance tax, certain states levy an inheritance tax. According to a recent The Street article titled “4 Ways to Protect Your Inheritance from Taxes,” your inheritance could be […]
Probate and trust administration are different processes. You have done your calculations. You likely will have assets remaining when you die. There is more than one option when leaving an inheritance to your loved ones. The two primary methods are through a last will and testament or through a revocable living trust. According to a […]
Parents should make plans for minor children. You are a parent. Maybe you have been a parent for years and have several children. Perhaps you are a new parent who recently welcomed your first child. Parenthood is exciting, rewarding, and fun. It is also a significant responsibility to protect and care for your children. According […]
Different powers of attorney have different functions. You know your estate planning should include incapacity planning, right? The documents required to help you when you die only take affect after you have passed away. Illnesses or accidents can leave you unable to make decisions without killing you. According to a recent The Miami News-Record article […]
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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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