A revocable trust may not be necessary. People who love fluffy bread but do not understand the chemistry of baking may believe more yeast yields larger loaves. A baker knows the best results require a delicate balance of the key ingredients and the proper kneading and proofing of the dough rather than simply adding more […]
Estate planning reduces financial frustrations when settling an estate. Perhaps you have heard the phrase, "failing to prepare is preparing to fail." Although many attribute this to educational, business, or athletic endeavors, it applies to estate planning. The stakes are often higher with estate planning. Why? There is no learning from your mistakes after you […]
A trustee is responsible for trust administration. Trusts are useful estate planning tools for those who want to retain greater control over assets or maintain the privacy of their affairs. Several factors impact whether a trust will be effective. An experienced estate planning attorney creating the documents is critical to a healthy foundation. The trustmaker […]
Retirees and others can benefit from a revocable living trust. Estate planning attorneys ask for a lot of personal and financial information when meeting new clients. Some people find this to be inconvenient. This simple inconvenience serves an important purpose. It helps the estate planning attorney conceptualize the needs of the clients because the information […]
A pour-over will can help tie up loose ends. Revocable Living Trust-based plans work as intended when the trust is funded. Some assets are placed in the trust while the trustmaker of the trust is alive. Other assets are intentionally left out or simply forgotten - more commonly, the latter. According to a recent Coeur […]
Estate planning is essential for numerous reasons. Many people became more aware of the uncertainty of life during COVID. The media constantly reminded people that death was possible and their livelihood and health were at risk. Although there was a slight rise in people prioritizing estate planning, many still do not have an estate plan. […]
Wills and trusts are both useful estate planning tools. The debate over whether wills or trusts are better in estate planning has been argued by many for decades. The nature of this argument may be likened to whether a screwdriver or wrench is a better tool. It depends on what you need for the specific […]
Naming contingent beneficiaries is a key step in estate planning. In athletic competition, it is not enough to have one star player. Illness or injury could quickly sideline this exceptional athlete. Instead, it is essential to have a deep bench so your team can handle such unfortunate situations. According to a recent The Mercury article titled “PLANNING […]
The types of trusts people use depend on their goals. Estate planning can have various components depending on individual specific needs and goals. Smaller estates with responsible heirs may find arranging for direct non-probate transfers of their assets sufficient, with a last will and testament as a backup. Larger estates or those with more financial […]
Pat Robertson left a large estate. Pat Robertson lived a long life as a prominent conservative Christian. He died in June at age 93. His entrepreneurial nature led him to found a variety of nonprofit and for-profit enterprises. These include Regent University, the American Center for Law and Justice, The Christian Broadcasting Network, International Family […]
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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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