It is easy to make mistakes with IRA investments. There are often tradeoffs when comparing costs versus benefits. With IKEA furniture, you trade the time and frustration of assembly for the convenience of easily packing the entire piece of furniture into a vehicle. Consequently, it is not uncommon for mistakes to be made along the […]
Portability tax exclusion benefits have been extended. People cannot escape taxes. Purchase something. Pay a tax. Own a vehicle or real estate. Pay a recurring tax. Make an income. Pay a tax. Die with a specific amount of wealth. Pay a tax. According to a recent The CPA Journal article titled "Portability of Deceased Spousal Unused Exclusion […]
Inherited IRAs are subject to numerous rules. Individual Retirement Accounts (IRAs) are foundational financial tools for retirement planning. They allow you to set aside and invest pre-tax money that grows tax-deferred so you can have an income stream after you have retired from employment. In addition, at one time, retirement accounts were wonderful tools for […]
Social Security can be impacted by divorce. People have many different thoughts, feelings, and opinions about Social Security. For some people, this program IS their only source of retirement income. Even those who do not need Social Security still expect to receive monthly benefits because of the payments they made into the system while working. […]
Asset transfer mistakes can be easy to make without professional estate planning. Handoffs are not always easy. Whether it involves transferring the baton in a relay race, a handoff from center to quarterback, or passing the ball to a teammate in soccer, precision is key. A simple miscalculation can lead to failure. According to a […]
The death of a spouse means additional responsibilities. Being married has numerous benefits. It allows for constant companionship and emotional support. It also enables couples to divide responsibilities and lighten individual burdens. According to a recent Forbes article titled "What To Do After The Death Of A Spouse," these benefits are immediately lost after a […]
Glenn Frey left both a legacy of music for the world and provision for his family. Many people dream of being a guitarist in a successful band. Few realize this dream. Glenn Frey was one of the few fortunate and talented individuals who made a living from making music for the enjoyment of the masses. […]
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 […]
Estate planning is essential for protecting your assets and loved ones. Learn valuable lessons from Tina Turner’s proactive approach to managing her estate. An estate planning attorney in Overland Park, KS can guide you through the process, ensuring your legacy is secure. Contact Harvest Law KC today.
A guardianship or conservatorship is a common outcome when no powers of attorney exist. Freedom and independence are common themes in the United States of America. Think 1776. People want to be able to choose how to save and spend their money, as well as where to live and spend their time. While most children […]
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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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