A discretionary trust can protect against mismanagement of trust funds. Those who desire to avoid probate often utilize trusts in their estate plans. This is accomplished through retitling assets to the trust. Because the assets are not under your name, they are not included in your personal probate estate. According to a recent The Facts […]
Physicians should have estate plans. Doctors undergo long years of schooling and residency to practice medicine. This requires incredible focus and dedication. As they begin their practices, these physicians shift this attention to building and maintaining their practices. According to a recent Medical Economics article titled “Physicians, get your estate in order or the court […]
Placing a home in a trust can be helpful or harmful. Protecting wealth and distributing assets can feel overwhelming. People worry about protecting their assets from bad life choices made by their heirs. They also worry about tax implications and whether their heirs will be able to pay these after they have died. According to […]
Retitling a house deed can lead to unfortunate unintended consequences. You own a home. If you are like many people, this is likely your most significant asset. As such, it should be an priority to consider in your estate planning. According to a recent St George News article titled “Naming a child on your deed […]
Life insurance provides protection for families with young children. Life insurance is not always necessary. If you are single and have enough saved to bury you when you die and pay any additional expenses or debts, you likely could bypass a policy. But what if you later marry, have children, and become "uninsurable" for some […]
Heirs with special needs require special planning. You are preparing your estate plan. Your hope is that your estate will bless your heirs and their futures. However, what if you have a loved one with special needs? You should think twice before leaving an outright inheritance. According to a recent Kiplinger article titled “How to […]
A testamentary trust can be created after you die. Some people really like the idea of using a trust in their estate planning. The control over the eventual inheritance distribution is appealing. These individuals are often torn between the appeal of a trust and the work it takes to maintain a trust. According to a […]
Trusts have several estate planning benefits. Many misunderstandings exist around estate planning. One of the most common misconceptions involves trusts. People tend to think this estate planning tool is only for those who are ultra-wealthy. According to a recent US News article titled “Trusts Explained,” a trust can address a number of estate planning goals […]
A vacation home can be challenging to bequeath. Families often make and retain fond memories from vacations. For those who own a vacation home, these memories are often overwhelming tied to a specific location. After all: location, location, location. While vacation homes bring joy in life, they can bring complications when the owner dies. According […]
Several circumstances should be considered when planning to leave an inheritance to minor grandchildren. Becoming a grandparent brings fresh joys. There is something special about seeing your children have children, yes? Your love grows and expands as your family changes. According to a recent Nj.com article titled “How can I leave my money to my […]
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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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