Kansas and Missouri Estate Planning Blog

Category: Trust Administration

How can I "Fund" a Special Needs Trust?

POSTED ON: March 20, 2020 BY: Kyle Krull
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. […]
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What is New With the Disney Estate?

POSTED ON: March 13, 2020 BY: Kyle Krull
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 […]
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Did Kirk Douglas have an Estate Plan?

POSTED ON: March 11, 2020 BY: Kyle Krull
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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What Benefits do Trusts Have for “Average” Folks?

POSTED ON: February 10, 2020 BY: Kyle Krull
Trusts serve several purposes. What mental images are formed when you think of trust? Do you think of millionaires? Thurston Howell III and Lovey, perhaps? Although trusts can certain help preserve wealth, they are not only for the rich. This was recently confirmed by a Stamford Advocate article titled “Trusts are not for the wealthy […]
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What is Role of Successor Trustees?

POSTED ON: February 7, 2020 BY: Kyle Krull
Successor trustees carry significant responsibilities. You have been named a successor trustee. The problem? You are not sure what this means. Relax, many people asked to be trustees do not know the responsibilities involved. According to a recent nwi.com article titled “Estate Planning: The role of a successor trustee,” you are not alone. First, you […]
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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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