Joint accounts can prove helpful or problematic. Estate planning can feel daunting. If you are a private person, the public nature of probate may be particularly unappealing. Even if you have a last will and testament, not all assets should necessarily pass through your last will and testament. Some assets will be distributed to heirs […]
Taxing life insurance benefits is dependent on several factors. You have people who depend on your income. Perhaps this is your spouse only. Maybe you also have children. Life insurance can be useful in providing financial protection for your loved ones if you were to die. According to a recent MoneyWise article titled “Are Life […]
You should conduct a regular estate plan audit. Estate planning is important for any adult. It allows you to pass your assets wherever you chose at death. I will be the first to admit that it is not a fun subject matter? Nevertheless, this topic must be tackled or you will leave only a big […]
Your ex-spouse could inherit your estate without proper planning. You are divorced. This means you have an ex-spouse. Divorce proceedings and laws governing divorce can feel complicated and overwhelming. After the divorce is official, you likely do not want to thing about it ever again. According to recent Nj.com article titled “My brother died of COVID-19. […]
Estate planning requires proactive steps. Perhaps you have never made an estate plan. Maybe you recently moved to another state, making the legality of your previous plan uncertain. Whatever the reason, you are searching for an estate planning attorney to begin the process. According to a recent EconoTimes article titled “Top 3 Estate Planning Tips […]
Life insurance will be a useful estate planning tool. You want to leave an inheritance to your loved ones. To do so, you have created an estate plan. Even so, you are concerned about estate taxes. The are never "permanent" in terms of the applicable exemption limit. You know these could take a bite out […]
Trust beneficiaries may need to pay taxes on distributions. A trust is a useful estate planning tool. It holds assets and distributes them to the trust beneficiaries according instructions provided in the trust itself. It also provides greater control and protection of assets in estate planning. A common question with estate planning involves whether beneficiaries […]
Take the time to add beneficiaries to your investment accounts. You have several investment accounts. Some of these accounts may be earmarked for retirement. Others may be used to reach financial goals like purchasing a home or car. When you die, money may remain in these accounts. According to a recent The Street article titled […]
There are several steps to making a life insurance claim. Life insurance is a valuable estate planning tool. No other financial asset can create an "instant estate" to care for your loved ones. Full stop. The death of a parent or spouse can leave the surviving family members financially vulnerable. Leaving a life insurance policy […]
Trust-owned life insurance is designed to hold your policy. Estate planning and life insurance often have similar goals. They help individuals provide for and protect their loved ones when they die. Trusts are estate planning tools used to efficiently distribute assess to heirs while reducing estate taxes by removing assets from your estate, if the […]
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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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