You can give an inheritance while you are living. Timing can make a big difference. A split second late on a baseball swing can leave you with a strike rather than a home run, yes? Being born a few minutes before midnight on New Year’s Eve gives parents a tax break. According to a recent […]
Lisa Marie Presley made some estate planning mistakes. Estate planning should be undertaken with the help of professionals. This is especially true for more complex estates or family dynamics. Attempting to create or update an estate plan on your own can lead to issues with estate administration. According to a recent Insurance NewsNet article titled “Presley […]
Trustees hold significant responsibility. Although their title is technically derived from the entities they help manage, trustees must also be trustworthy. That is the foundational requirement. Those who include a trust in their estate planning have done so to fulfill specific goals. Examples include simplifying asset distribution, protecting assets from poor decisions by heirs, or […]
Comprehensive estate planning has several key components. People have long valued knowledge. It is natural to want to understand. In fact, I feel most vulnerable when I do not even know what I do not even know. And that encompasses too many areas to list! How about you? From the time children learn to speak, […]
Many people believe common myths about estate planning. All cultures around the world have myths. Some of these involve stories of heroes, villains, and supernatural creatures. Others involve pithy phrases or offer solutions to common ailments. Although some of these myths are fairly harmless, others can have dire consequences. According to a recent The Street […]
Creditors may be able to make claims on revocable trusts. Many people believe trusts are a magical solution to their estate planning and financial fears. Trusts are certainly valuable tools when created properly, but not all trusts are equal. Some trusts are best for maintaining control of assets and simplifying asset distribution. Others provide greater […]
Lisa Marie Presley may have triggered legal disagreements with her estate plan. The life of Lisa Marie Presley was filled with quite a bit of drama through divorces and deaths. Despite this, it was originally believed Lisa Marie would have a fairly simple estate distribution. It was expected to simply include her children as heirs […]
Lisa Marie Presley left behind a family legacy at her death. Most people live their lives in relative obscurity. Others are household names from the time of their birth. The latter was true of Lisa Marie Presley. According to a recent NME article titled “Lisa Marie Presley’s children to inherit Graceland estate,” being the daughter […]
Secondary beneficiaries may save your estate plan. Having backups in place is a wise move. It is helpful both personally and professionally. Backing up the hard drive on your computer can protect important information or projects from being destroyed. Syncing your phone to the cloud can prevent sentimental photos from being lost forever. According to […]
Jointly owned property may avoid probate. When more than one person has concurrent ownership of an asset, it is considered jointly owned. Some couples choose to combine all of their assets when married. Others decide to keep all or some assets separate. According to a recent TBR News Media article titled “Everything you need to […]
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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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