Heirs may be responsible for estate taxes. Not all estates will require payments of estate taxes. It is dependent on a number of factors, including the size of the estate and the specifics of the estate plan. Those who have assets valued in excess of the federal estate exemption threshold and those who live in […]
The lifetime estate tax exemption is set to decrease in 2026. Unless you are a tax accountant, taxes likely confuse and intimate you. Both state and federal lawmakers pass legislation governing what citizens owe the government and for what reasons. These taxes are consistently changing and can be difficult to follow. According to a recent […]
Estate taxes and inheritance taxes can reduce the wealth left to loved ones. The U.S. government is quite capable of spending money. Understatement? Even money it does not have. And from where does that money originate? Citizens are taxed. A variety of taxes exist at the local, state, and federal levels. People are taxed on […]
Trusts can benefit those with mental illness. No one person or family is exactly like another. Even twins vary in their personalities, interests, and habits. I know, I have twin daughters. A variety of factors impact estate planning choices. According to a recent Arkansas Democrat Gazette article titled “Creating special needs trust ensures that mentally […]
A Spousal Lifetime Access Trust (SLAT) can provide protection in asset transfers. Distribution of assets involves numerous considerations. Everyone must address taxes, state laws, and federal laws. Certain families and individuals must also navigate complicated family dynamics. According to a recent The Tennessean article titled “Learn about options for estate planning and wealth transfer,” a […]
In-laws can either bring great joy or great frustration. Family dynamics range from contentious at best to primarily peaceful. Sometimes parents never approve of the spouses their children choose. As my mother-in-law teased, "Behind every successful man is an amazed and astonished mother-in-law!" Other families feel like they gained a new beloved child each wedding […]
Sometimes disinheriting stepchildren is a good idea. Having a blended family in the United States is pretty common. Sometimes one party may have a child or children from a previous marriage or relationship before marrying the love of their life. In many cases, both partners have been married before and have children from their previous […]
Estate planning often has multiple benefits. People tend to avoid doing things if they do not benefit directly. Estate planning is one of those areas where people believe it is helpful for some people but not them. Often the mistaken belief is such planning and preparation is only for the super-wealthy. According to a recent […]
The language used in estate planning can be more vague for some requests. How something is said is often just as important as what is said. People communicate just as much through body language and tone of voice as they do with their words. Although these sensory details are often missing in estate planning documents, […]
Limited Liability Companies (LLCs) and trusts are both helpful for asset protection. Asset protection can be a priority for many in their life and estate planning. This is especially important for those with much to lose as business owners. Two common tools for asset protection include trusts and Limited Liability Companies (LLCs). According to a […]
Commercial solicitations are permitted by the Missouri Rules of Professional Conduct but are neither submitted to nor approved by the Missouri Bar or the Supreme Court of Missouri.
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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