Divorcing when in retirement can be quite messy. Divorce is complicated at any stage of life. Young families have to navigate co-parenting and support. Often for the sake of the children, people choose to divorce later in life. When people are divorcing in their 60s or 70s, this is often referred to as “gray” or […]
Inflation can threaten retirement if no action is taken. The health of the economy impacts people all across the United States. It influences job security, standard of living, and retirement planning. In the past year, the consumer price index rose by 5.4 percent. According to a recent Kiplinger article titled “How Big of a Threat […]
An inherited IRA is more complicated for heirs who are not a surviving spouse. An IRA is an important source of income in retirement. For this reason, they are often significant assets in estate planning. With the recent passage of the SECURE Act, how IRAs are passed to heirs has become more complicated. No surprise […]
Life insurance can be useful in a variety of circumstances. Many people purchase life insurance policies when they have young families. They want to provide income for their spouse and children if they were to die. After all, life insurance is the only financial product that can create an "instant estate" before you have time […]
Aging has some benefits for your brain. When you think of aging, you likely envision declining health and bodily functioning. Maybe you think of broken hips, sore joints, and weakening vision. Although general health for many people declines with age, there are some areas where you may find improved functioning. No, really. According to a […]
An inherited IRA requires special attention. Your parents or your spouse were hard workers. They were also good savers. During their careers, they allocated money each year to their retirement savings. Upon their deaths, you inherited the IRA. According to a a recent Kiplinger article titled “I Inherited an IRA. Now What?,” your relationship to […]
Long-term care is especially important for women to consider. As we age, we require more assistance. For some, failing memory can create dangerous situations. For example, people may take more medication doses than necessary or set kitchen fires by forgetting food left on the stove or that the gas has been left on. Those who […]
Retirees may still benefit from life insurance. You have been in the workforce for decades and are now either in or nearing retirement. Your financial advisor and estate planning attorney recommended life insurance when you were younger. This made sense to you because you wanted to provide income (and "instant estate") for your spouse and […]
Downsizing does not need to be complicated. You have recently considered downsizing your home. Your children are no longer living with you. The house feels large and empty. Perhaps you are also tired of the amount of time, energy, and money spent on upkeep. While you could keep your home to transfer to your children, […]
Planning for retirement typically follows a basic timeline. If you are working, you should already begin planning for retirement. Eventually, you will no longer be employed. Spoiler alert .... When you retire, you will still need to pay bills and fund your lifestyle. According to a recent U.S. News & World Report article titled “10 […]
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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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