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 […]
An estate plan discussion can preserve family relationships. Death is an unpleasant topic. I get that. As Woody Allen famously quipped: "I'm not afraid of death; I just don't want to be there when it happens." Few people want to think about their loved ones being gone. The harsh reality is everyone dies. According to a recent U.S. News […]
Creating a living trust can expedite the settlement of your estate. Some people have few concerns when it comes to settling their estates in probate. Perhaps they have minimal assets, uncomplicated family dynamics, and need the probate judge to approve their choice of guardians for orphaned minor children anyway. These individuals may be perfectly happy […]
Choosing between “per stirpes” and “per capita” will impact asset distribution. Estate planning can be nuanced. Those who are unfamiliar with legal terms, tax law, and estate law can easily make costly mistakes. Many people attempt to create a do-it-yourself will. Doing so can create unintended problems for your loved ones and your estate. According […]
The act of disinheriting a child must be thorough. It is not uncommon for family relationships to undergo strain. Family members may become estranged and not see one another for decades. Other families simply suffer from diminished trust. Some children grow up. Other children ... just continue to have more birthdays. In short, not all […]
Larry King had a career and relationships characterized by highs and lows. Even legends do not life forever. His health had been poor the past few years, when he died at age 87. Larry King had a history of heart trouble and a stroke prior to his contracting COVID-19. According to a recent Wealth Advisor […]
People should undertake a beneficiary review every few years. You have several types of assets. You own a home. You have retirement accounts and bank accounts. You even purchased a life insurance policy. According to a recent The Street article titled “Secure your IRA – Review Your Beneficiary Forms Now,” some of these assets should […]
A trust allows greater control of assets. People tend to have strong opinions about money. This involves budgeting, investing, and gifting. For this reason, many people have distinct goals for estate planning. According to a recent FED Week article titled “Control of Assets a Key Issue in Deciding on a Trust,” those who have specific […]
The estate of Prince is still making headlines. No, really. Prince was a talented musician. He was also a memorable human. Very few people change their names to a symbol and then back to their names. When Prince died of a fentanyl overdose in 2016, the world was not ready to lose his talent. According […]
After creating a trust it is important to "fund" the trust. Your circumstances and goals necessitated a trust as part of your estate plan. The instructions outlined in the trust provide an equal division of the assets among your children. You find this fair and fitting. According to a recent nwi.com article titled “Estate Planning: […]
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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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