An unfunded trust will undermine your estate planning. Your estate planning goals included avoiding probate. You also desired to simplify asset management should you become incapacitated. Consequently, your experienced estate planning attorney recommended a revocable living trust. You agreed and happily signed the papers for the creation of your living trust. According to a recent […]
A life settlement can provide additional funds to use in retirement. If you are in retirement, you are living on a fixed income. What you saved in your nest egg needs to last for the rest of your life and the life of your spouse. Although Social Security can also provide a monthly stipend, it […]
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 cannot neglect your finances in retirement. You have recently entered retirement. You are enjoying some time to yourself with fewer responsibilities. Even so, there are certain responsibilities you cannot ignore. According to a recent MoneyTalksNews article titled “7 Money Moves You Should Make After Retiring,” you cannot escape legal matters and financial decisions. What […]
Your life insurance policy could help you through financial hardship. The economy has been hit hard by the COVID-19 pandemic. Many people have lost their jobs or had their hours reduced. Perhaps you or your spouse are among them. You anxiously review your bank account and your bills. You wonder how you will make ends […]
The probate process requires the executor (also known as the "personal representative") to take specific steps. The loss of a loved one is difficult. In the midst of grieving, families must also settle the estate of the deceased. This process is simpler if there is a last will and testament in place. Whether there was […]
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. […]
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-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 […]
Spendthrift trusts can protect your children from themselves. You are setting up your estate plan. As you consider your goals, you want to be wise when leaving an inheritance for your children. You also acknowledge your children may make poor decisions with a windfall of cash. What can you do? According to are recent NWI.com […]
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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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