Creditors may be able to make claims on revocable trusts. Many people believe trusts are a magical solution to their estate planning and financial fears. Trusts are certainly valuable tools when created properly, but not all trusts are equal. Some trusts are best for maintaining control of assets and simplifying asset distribution. Others provide greater […]
Secondary beneficiaries may save your estate plan. Having backups in place is a wise move. It is helpful both personally and professionally. Backing up the hard drive on your computer can protect important information or projects from being destroyed. Syncing your phone to the cloud can prevent sentimental photos from being lost forever. According to […]
Rapper Coolio died without an estate plan. Many celebrities die without preparing for the transfer of their wealth. When this happens, it can leave their estates vulnerable to taxes and even greedy folks wanting to cash in on their wealth. One recent celebrity who died without an estate plan was Artis Leon Ivey, Jr. who […]
Jointly owned property may avoid probate. When more than one person has concurrent ownership of an asset, it is considered jointly owned. Some couples choose to combine all of their assets when married. Others decide to keep all or some assets separate. According to a recent TBR News Media article titled “Everything you need to […]
Leaving a co-op apartment as an inheritance may prove difficult. In Kansas City, there are some rather tony co-ops in an area generally known as the Country Club Plaza. These various co-ops are home to professional athletes, local celebrities, and many retirees. By the way, their view of the Country Club Plaza Lights is something […]
A Chicago man left a large estate to extended family by default. Some people are unassuming millionaires. By looking at them on the street, they are indistinguishable from the average person. Upon their death, others are often surprised to find these individuals amassed significant wealth. According to recent Block Club Chicago article titled “A Chicago […]
People should store their legal documents in a secure place. Not everyone secures their valuables. Some people stash cash in their sock or underwear drawers. Others keep their important papers like social security cards and birth certificates on a shelf. Although these may work for a time, they also leave your money and important information […]
Sometimes sibling rivalries extend to their inheritance. Siblings do not always get along. It is normal to bicker and argue while growing up. Most parents hope their children will grow out of such childish behavior and do their best to facilitate love and cooperation. According to a recent yahoo! article titled “Can a Sibling Take […]
A new widow may require help from experts. Losing a spouse is never easy. It is heartbreaking to no longer have your best friend and partner. This is true whether you have been married months or decades. The death of a spouse means loss of present and future love and companionship. According to a recent […]
Yes! A last will and testament and a revocable living trust are both effective estate planning tools. Estate planning does not look the same for everybody. The lives of singles look vastly different than those of married couples. It only makes sense their estate plans would also look different. According to a recent The News-Enterprise […]
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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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