Heirlooms can trigger conflict among families. While many people value money as an inheritance, family heirlooms are often considered priceless. It makes sense. People can get money anywhere, but there is no replicating the history and meaning attached to family heirlooms. According to a recent The Wall Street Journal article titled "Pass On Your Heirlooms, […]
Portability elections may not be the best for all families. The federal estate and gift tax exemption is necessary for those with high net worth. Any amount over this threshold is subject to estate taxes. The "unified" exemption is $12.92 million per taxpayer for 2023. Individuals and couples can work with an experienced estate planning […]
Heirs may be responsible for estate taxes. Not all estates will require payments of estate taxes. It is dependent on a number of factors, including the size of the estate and the specifics of the estate plan. Those who have assets valued in excess of the federal estate exemption threshold and those who live in […]
Estate tax planning attorneys will be busy in 2025. Certain events make people more stressed. Leading up to Y2K, individuals and businesses were uncertain how computers would handle the change of the millennium. When news of possible COVID lockdowns was announced, stores quickly ran out of water, bread, and toilet paper. According to a recent […]
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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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