Not everything belongs in a safe deposit box. You have a safe deposit box at your local bank. You have decided to keep all of your important documents, heirlooms, and sums of cash inside the bank. Although this may seem the safe choice, it is not. According to a recent Kiplinger’s article titled “9 Things You'll […]
Tax planning and estate planning are intertwined. Think for a minute about your estate planning goals. What comes to mind? Do you imagine helping fund college for your grandchildren? Do you think about the family business being transferred to the next generation? Do you imagine your daughter wearing your heirloom necklace? People have a variety […]
Inaction is not an affordable luxury after the death of a loved one. Your loved one has passed away. The grief is overwhelming. Whether it was sudden or expected, the loss is still great. You want to honor the legacy of your loved one. According to a recent Dallas Morning News article titled “Three things […]
Rules governing inherited IRAs have changed recently. You have recently inherited an IRA. You are vaguely aware of changes in tax law with the passing of the SECURE Act in December of last year and again with the CARES Act in late March. Even so, you are not clear on the new rules and how […]
Digital legacy planning is often overlooked. Throughout most of human history, assets were tangible. These included family heirlooms, jewelry, land, and livestock. Later on, "currency" issued by monarchs and banks appeared. In recent years, wealth has evolved to include the digital realm. According to a recent The Lawton Constitution article titled “Wannabe Wired: Preparing your […]
Trust-owned life insurance is designed to hold your policy. Estate planning and life insurance often have similar goals. They help individuals provide for and protect their loved ones when they die. Trusts are estate planning tools used to efficiently distribute assess to heirs while reducing estate taxes by removing assets from your estate, if the […]
Spendthrift trusts can protect your children from themselves. You are setting up your estate plan. As you consider your goals, you want to be wise when leaving an inheritance for your children. You also acknowledge your children may make poor decisions with a windfall of cash. What can you do? According to are recent NWI.com […]
Discussing estate planning with your parents cannot wait. Your parents have assets. They own a home. They have a retirement account. They have life insurance. The problem? They do not want to talk about estate planning. According to a recent Kiplinger article titled “How to Get a Loved One to Visit an Estate Planning Attorney […]
A family trust is set up specifically to benefit your family. You have thought carefully about your estate plan. You know a last will and testament is sufficient for many people. However, when you consider your goals, you think you may require more. According to a recent Yahoo Finance article “What Is a Family Trust […]
Beneficiaries of a last will and testament must be notified. Your loved one has recently passed away. You think he signed a last will prior to death. You think you might be a beneficiary. You do not know whether such last will actually exists and, if it does, its contents. Will you be notified? According […]
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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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