Kansas and Missouri Estate Planning Blog

Category: Trust Administration

What Responsibilities do Fiduciaries Have?

POSTED ON: January 7, 2020 BY: Kyle Krull
Fiduciaries have a number of legal responsibilities. Serving as a fiduciary is an honor. A fiduciary is often selected to administer an estate or trust. He or she may also be responsible for managing the lifetime finances of another individual as an attorney in fact under general durable power of attorney. According to a recent […]
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Do Beneficiaries Owe Taxes on Money from Trusts?

POSTED ON: November 28, 2019 BY: Kyle Krull
Trusts do not nullify all taxes. Your parents or grandparents created a trust or trusts as part of their estate planning. Maybe they wanted greater control in asset distribution. Perhaps they simply desired to shield their wealth from estate taxes. Whatever the reason, as part of their planning they used trusts to provide the trust […]
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Special Needs Trust for Child with Special Needs?

POSTED ON: October 30, 2019 BY: Kyle Krull
A special needs trust is necessary to preserve essential public assistance benefits. You have a child with special needs. You know you will not always be around for them. To be blunt, what will happen to your child when you and your spouse are both deceased? According to a recent KAKE article titled “How a […]
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Can a Trust Protect My Child's Inheritance?

POSTED ON: October 29, 2019 BY: Kyle Krull
A trust can provide inheritance protection. Your child is married. You should be happy. Instead, you are upset. You do not like your new son-in-law or daughter-in-law. According to a recent nj.com article titled, “My daughter is getting married. How can I protect her inheritance?,” you are not alone. You cannot control who your children […]
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How Do I Set Up a Living Trust?

POSTED ON: October 21, 2019 BY: Kyle Krull
A living trust is a useful tool. Your estate plan needs a trust. Perhaps this is because you need to avoid an estate tax, whether at the state or the federal level. Maybe you have irresponsible heirs or heirs who are minors. Perhaps you simply want to avoid probate. According the a recent Yahoo! Finance […]
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