Kansas and Missouri Estate Planning Blog

SLAT

How Can a SLAT Reduce Estate Taxes?

POSTED ON: May 29, 2023 BY: Kyle Krull
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 […]
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In-laws

Will My In-Laws Inherit from My Estate?

POSTED ON: May 26, 2023 BY: Kyle Krull
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 […]
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Stepchildren

Can I Disinherit my Stepchildren?

POSTED ON: May 25, 2023 BY: Kyle Krull
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 […]
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Pre-arrange funeral

Can I Pre-Arrange my Funeral?

POSTED ON: May 24, 2023 BY: Kyle Krull
It is possible to pre-arrange a funeral. People have the capacity to plan and prepare for the future. Sometimes doing so is exciting. For example, most of us like to prepare for vacations or celebrations. At other times, planning is more mundane, like when creating a to-do list for work. According to a recent Yahoo […]
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Spouse died

My Spouse Has Died. What Next?

POSTED ON: May 23, 2023 BY: Kyle Krull
Knowing what to do after a spouse has died can be overwhelming. The marriage relationship is a unique relationship. You have made a covenant with another person to love them no matter what life throws your way. Your spouse will see you at your worst and best through life's good and bad circumstances. According to […]
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Estate planning benefits

What Are Benefits of Estate Planning?

POSTED ON: May 19, 2023 BY: Kyle Krull
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 […]
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Per stirpes

What Does “Per Stirpes” Mean?

POSTED ON: May 18, 2023 BY: Kyle Krull
“Per stirpes” is a designation for passing assets to heirs. Legal jargon can involve a lot of Latin and also be confusing. Legal jargon also has real implications for the lives of Americans. It is present in government statutes, business contracts, and estate planning. According to a recent Motley Fool article titled “What Does Per […]
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Aretha Franklin

Why Did Aretha Franklin Leave a Voicemail?

POSTED ON: May 18, 2023 BY: Kyle Krull
Aretha Franklin left a voicemail for her attorney in the months preceding her death. Estate planning is essential because it allows people to communicate their wishes regarding what happens to their assets when they die. To be legally binding, estate planning documents must be prepared and signed according to specific rules. Simply stating wishes to […]
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Estate planning

Does Dementia Make Estate Planning Urgent?

POSTED ON: May 17, 2023 BY: Kyle Krull
Estate planning is essential for those experiencing cognitive decline. I have yet to meet anyone with the condition of Benjamin Button. People get older, not younger. It is an undeniable fact of life. According to a recent Think Advisor article titled “Don’t Let Cognitive Decline Derail Well-Laid Financial Plans,” estate planning is essential for aging individuals. […]
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Lost documents

Is it Possible to Replace Lost Documents?

POSTED ON: May 16, 2023 BY: Kyle Krull
It is possible to replace many lost documents. Losing essential items or documents is pretty common. When people move or clear out files and papers in their homes, sometimes important documents sneak into the mix as little stowaways. This can cause problems when these documents are later required for applications or approvals. According to a […]
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