Trust-owned life insurance is designed to hold your policy. Estate planning and life insurance often have similar goals. They help individuals provide for and protect their loved ones when they die. Trusts are estate planning tools used to efficiently distribute assess to heirs while reducing estate taxes by removing assets from your estate, if the […]
Spendthrift trusts can protect your children from themselves. You are setting up your estate plan. As you consider your goals, you want to be wise when leaving an inheritance for your children. You also acknowledge your children may make poor decisions with a windfall of cash. What can you do? According to are recent NWI.com […]
A family trust is set up specifically to benefit your family. You have thought carefully about your estate plan. You know a last will and testament is sufficient for many people. However, when you consider your goals, you think you may require more. According to a recent Yahoo Finance article “What Is a Family Trust […]
Estate administration takes both time and energy. You have assets. This means you have an estate. When you die, someone will need to wrap up your final affairs. According to a recent Winston-Salem Journal article titled “Practical tips for estate administration, pre-planning advice, and a Coronavirus update,” the executor is in charge of paying any […]
Art can prove a tricky asset in estate planning. You love art. It is beautiful. It is meaningful. It can also be costly. Your precious works of art may become an estate planning challenge. According to a recent Financial Advisor article titled “Putting Art Into Charitable Remainder Trusts,” tangible assets like artwork can be difficult […]
Different trusts serve different purposes. You likely have heard about trusts as part of estate planning. You know that one use of trusts is to bypass probate when it comes to transferring assets. This sounds appealing to you. Perhaps you will utilize a trust in your estate plan. According to a recent Investopedia article titled […]
A revocable trust can be dissolved. When it comes to trusts, there are two primary categories. The first is an irrevocable trust. The other is a revocable trust. The primary differences are found their names. The revocable trust is designed to be relatively easily changed or dissolved at anytime by the creator of the trust […]
Funding a special needs trust can be done in a number of ways. You have a loved one with special needs. Your loved one is dear to you and you provide essential support now, but you cannot ensure that you will always be around. Death and even incapacity may be around the corner for you. […]
Disney has become a titan of the entertainment industry. Walt Disney started as a young child from Kansas City with big dreams and a creative mind. Years later, he became a successful visionary and filmmaker. The Disney name and company has become one of the most valuable in the world. According to a recent Wealth […]
Kirk Douglas left a significant estate. Kirk Douglas had a prolific career. For some 40 years, he worked steadily. Although his career slowed in the early 1980s, he still had a significant estate upon his death. According to a recent Wealth Advisor article titled “Kirk Douglas Lived Well, Died Rich And May Trigger $200M Los […]
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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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