Estate planning is necessary for adult Americans. Adults have many responsibilities. They pay bills, go to work, and may even be caring for children or aging loved ones. In the midst of hectic schedules, it is all too easy to forget important tasks. According to a recent Big Easy Magazine article titled “Estate Planning Is […]
Blended families require special considerations, especially when it comes to estate planning. Blended families are common in America. Many adults get married and have children, then divorce and remarry. Some then lather, rinse, and repeat. Although common, remarriage creates more complex family systems. More complex family systems can be a nightmare without proper estates planning. […]
Married Americans may be able to use a SLAT in their estate planning. Estate taxes allow the government to take a portion of what people own when they die. Some people will only be impacted by this at the federal level. Others will owe money to both federal and state governments, if the latter imposes […]
Prince Philip left a fortune when he died. April 9 was especially challenging for the House of Windsor with the death of Prince Philip Duke of Edinburgh. This spring, Prince William and Prince Harry lost their grandfather. Princess Anne and Princes Charles, Andrew, and Edward lost their father. Queen Elizabeth lost her husband and best […]
Creating a trust can provide estate planning protections for your children. Your children are adults in the eyes of the world. Even so, your adult children will always be your babies. As such, you still want to protect them. Some children grow up and other children just keep having more birthdays. According to a recent […]
Inherited IRAs are subject to comprehensive federal rules. An important part of retirement planning is saving money in a traditional IRA or 401(k). These tools provide an opportunity to save for retirement while deferring taxes on the contributions. Through investment, these accounts can grow to provide a sizable income for you in retirement. According to […]
The federal estate tax is likely to affect more people under the President Biden administration. The estate tax threshold has been farm, ranch, small business, and entrepreneur friendly in recent years under President Donald J. Trump. The current threshold sits at $11.7 million for an individual and $23.4 million for a couple filing jointly. Any […]
It is important to prepare for your estate planning meeting. You have scheduled an appointment with an experienced estate planning attorney. Congratulations! You have taken the first important step to protecting everyone you love and everything you have. By simply making an appointment, you are ahead of the majority of your American peers in estate […]
Leaving an equal inheritance is not always fair. And, leaving a fair inheritance is not always equal. It can be complicated, yes? You have several children. As you plan for your asset distribution, you consider giving equal amounts to each. This seems fair at first glance. According to a recent The New York Times article […]
Select and purchase a burial plot before you die. When you die, your remains will need to be laid to rest. Some people choose to be cremated. Their ashes are then spread or stored. Those who choose not to be cremated will need a burial plot, unless you choose to have your cremains buried in […]
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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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