A trust provides benefits beyond what beneficiary designations accomplish. When it comes to estate planning, every family and individual family member is different. Although people may have similar assets, they have unique goals and circumstances. All of these variables influence whether a trust should be including in an estate plan. According to a recent Nj.com […]
Most Americans do not understand probate. Isn't there anyone who knows what probate is all about?!! This question is reminiscent of Charlie Brown's desperate cry of frustration in "A Charlie Brown Christmas," albeit in a different context. I digress. You have likely heard of probate. Perhaps it has been in the context of a loved […]
Singles are not exempt from having to create an estate plan. Many American adults are currently considered single. These individuals may have never been married. Others may have been married then widowed or divorced. According to a recent County 17 article titled “Even ‘Singles’ Need Estate Plans,” dying without an estate plan is not only […]
Melinda Gates and Bill Gates are revisiting their estates plans after their divorce. Few people can call themselves millionaires. Even fewer can call themselves billionaires. Bill and Melinda Gates are two of these individuals. According to a recent Page Six article titled “Melinda Gates could be angling to change kids’ $10M inheritance in split,” having […]
There are many reasons to review and update an estate plan. Paying attention to expiration dates is important. This can save you from unwittingly poisoning yourself from outdated food. It can also ensure your medications are still potent. Although your estate plan will not have an expiration date on your documents, it will have a […]
Several strategies exists when it comes to providing inheritances to children. People loving giving advice. It seems everyone has an opinion about something. People especially love giving advice about parenting. According to a recent The Wall Street Journal article titled “When to Give Inheritance Money to Your Kids,” you may get conflicting messages about when your […]
Married Americans may be able to use a SLAT in their estate planning. Estate taxes allow the government to take a portion of what people own when they die. Some people will only be impacted by this at the federal level. Others will owe money to both federal and state governments, if the latter imposes […]
A payable on death account is one means of transferring assets to heirs. There are several ways assets are distributed. The most commonly recognized is a last will and testament. Other options include gifts, trusts, and beneficiary designations. According to a recent Sports Grind Entertainment article titled “Payable on Death (POD) Accounts,” a payable on […]
Your planning may need to adjust to a new federal estate tax. Most people cringe at the mention of taxes. The exceptions would be those whose livelihoods depend on taxes like accountants, IRS agents, and other government officials. If your employment does not find you within one of these exceptions, incomes taxes, property taxes, inheritances […]
An estate plan is essential to protect your loved ones and their futures. Estates planning can become quite complex for those with complex assets wealth or family tensions. Those who require a only a "simple" plan, may be surprised at the number of documents required to meet their needs. It is safe to say estate […]
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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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