Rolling traditional IRAs to Roth IRAs may not be the best move. Roth IRAs provide many benefits. Because the money contributed has been taxed, it can grow tax free. When you take out money as income in retirement, you will not have to pay taxes on the contribution or the growth. Although these are appealing […]
Medicare Advantage plans include more services than Medicare Part A. Medical insurance at any age can be confusing, so it is with Medicare Advantage. The types of Medicare plans and what they offer are no different. It is difficult to distinguish between Part A, Part B, Part D, and Advantage plans. It is literally an […]
Updates should be made periodically to your estate plan. You created an estate plan. You checked it off your list. Now you can sit back and relax until you die. According to a recent Forbes article titled “Old Estate Plans May Be Harmful To Your Wealth,” you need to rethink this assumption. Why? Circumstances in […]
Beneficiary designations can be easily messed up. You can have a will. You can create a trust. Even so, you may be neglecting an important aspect of estate planning. According to a recent Delco Times article titled “Five mistakes to avoid when naming beneficiaries,” you need to make sure your beneficiary designations are in alignment […]
A special needs trust is necessary to preserve essential public assistance benefits. You have a child with special needs. You know you will not always be around for them. To be blunt, what will happen to your child when you and your spouse are both deceased? According to a recent KAKE article titled “How a […]
A trust can provide inheritance protection. Your child is married. You should be happy. Instead, you are upset. You do not like your new son-in-law or daughter-in-law. According to a recent nj.com article titled, “My daughter is getting married. How can I protect her inheritance?,” you are not alone. You cannot control who your children […]
Thanks to "entropy" (the Second Law of Thermodynamics), everything in creation requires an "amendment" from time to time. Surprise. This very law applies to estate plans, too. You have an estate plan in place. You worked with an estate planning attorney. It met all of your needs to protect everyone your love and everything you […]
Inheritances can trigger taxes. Your loved one passed away. You are mourning the loss. You are coordinating the funeral, visitation, and other family gatherings. The last thing you want to think about is taxes. According to a recent Investopedia article titled “Are Estate Distributions Taxable?,” it is important to understand tax implications if you are […]
Lifetime giving can have estate planning benefits. In just a week, it will be Halloween. Children will be dressed in costumes to go trick-or-treating with parents. Adults will leave their house lights on to give candy to these little visitors. In fact, the last three months of the year carry with them a uniquely “giving” […]
College students need estate planning. Why? College can be a vulnerable time. These young adults are responsible for themselves—many for the first time. They must get to classes, make food, do laundry, set their alarms, and manage their own time without their parents. Oftentimes parents are feel unable to help or are unsure how to […]
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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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