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 cost to young families without an estate plan is high. Young families are busy. Understatement. Diaper changing, potting training, doctor visits, meal times, and bedtime routines are exhausting. Many parents feel as if their lives are in constant motion and chaos. They can barely muster enough energy to go to bed much less think […]
All adult Americans need an estate plan. Age 18 is an important year. In many states, this is the age when you can first vote, join the military, and be recognized as an independent adult. Although being an adult in the legal sense comes with many benefits, you also have greater responsibilities after hitting this […]
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 […]
Estate planning is one important step to caring for your loved ones after your incapacity or death. I have heard many excuses over my career as an estate planning attorney. Many people think estate planning is only for the super wealthy. Others believe it is only important if they are married or have children. These […]
Fragile beneficiaries require thoughtful estate planning. You have recently been thinking about your estate plan. You know who you love and what you have. However, you are not sure about who you want to include as the inheritors of your estate. You feel torn. While some potential heirs are fully capable of handling an inheritance, […]
There are things you should not include in your last will and testament. You have recently inventoried your assets. Your list includes your real estate, your investments, your bank accounts, and your tangible property. With this step completed, you are ready to create an estate plan. According to a recent MSN Money article titled “Things […]
Mistakes are part of life, but estate planning mistakes can hurt those you love unnecessarily. Especially given the heightened concerns surrounding the "pandemic," many people are seriously considering their estate planning (or lack thereof). Before you take up your own estate planning, it may be prudent to pause and consider best practices and even learn […]
Gifting can get you in trouble without proper planning. The week of Thanksgiving marked the start of the holiday season. Advent services began yesterday (Sunday) at my church. Although Christmas traditions will look different, gifting will likely remain. According to a recent Kiplinger article titled “Gifting sounds pretty simple, but there are many ways 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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