End-of-life planning requires certain documents to be signed and in place. Few people enjoy sitting and pondering their own mortality (death), let alone morbidity (incapacity). In addition to considering basic existential questions, many people also have practical inquiries about their personal responsibilities. What will happen to my family? Will my spouse and children have enough […]
A living trust can provide greater control over asset distribution. People like to be in control. It provides comfort in predicting outcomes. It also minimizes the negative impact other people can have on us. The problem? Complete control is an illusion. Humans are affected by weather, natural disasters, car accidents, governments, and even other individuals. […]
Marital trusts protect couples and their families. Family gatherings are common during the holidays. For some, these are fairly simple logistically and emotionally. Loved ones live nearby and get along reasonably well. For many, the time is filled with stress around scheduling and relationship dynamics. It can be hard enough to manage holidays between the […]
Those who put a house into a trust may find several benefits. Most people find their home is the largest single asset they own. Whether in Overland Park or other parts of Johnson County, real estate prices have increased significantly over the past three years. Because houses are expensive investments, there is greater urgency in […]
Disinheriting a family member is the choice of the person who creates the estate plan. People are responsible for their own money. They can choose to spend it all before they die, donate it to charity, or leave some, all, or none of it to loved ones. Essentially, an inheritance is a gift, not a […]
Trust funds and wills are both estate planning documents. The average person has likely heard of last wills and trust funds. Last wills receive attention as plot devices in books, television shows, and films. Trust funds are often mentioned when people discuss families with generational wealth, like the Rockefeller family. While these contexts can provide […]
Estate planning includes a primary document. Comprehensive estate planning typically does not involve one document. Instead, several components work together to provide instructions for your affairs after incapacity or death. Like any good team, estate plans have a document that directs how the plan should work together. According to a recent The News-Enterprise article titled “Make […]
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 […]
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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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