Serving as a trustee or executor requires fulfillment of several duties. Perhaps family members or friends have asked you to serve as the executor, trustee, or agent in their estate plan. You are not sure what this means. They tell you the role is essentially following their instructions in their estate planning documents. Although this […]
Knowing estate planning terms is a helpful start to preparing for your future. You are many things. You are talented. You are kind. You are a hard worker. Even so, you are not an estate planning attorney. Although you have heard you need an estate plan, you are not exactly sure what this means. According […]
Naming a guardian is important when you have minor children. No, it is essential. Are you a parent of minor children? If yes, your financial situation may feel strained. In addition to the expenses you had before children, you are now feeding more mouths and clothing more bodies. Estate planning may be at the bottom […]
Picasso was a brilliant artist but a poor estate planner. When you think of "success," what images come to mind? You likely think of famous business people, scientists, entrepreneurs, or artists. Oftentimes, regular folks believe successful people are those we should emulate. According to a recent Celebrity Net Worth article titled “When Pablo Picasso Died He […]
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. […]
Specific planning is required to pass your house without taxes. You are a homeowner. This is one asset you plan to pass along to your heirs. You know the current estate tax exemption threshold is $11.58 million for a single individual in 2020. Your estate will be taxed on any amount above this threshold. If […]
Serving as an executor requires both time and energy. You have been asked to serve as an executor (also known by the gender neutral title of "personal representative"). You are flattered. Being asked to serve as an executor for an estate is an honor. Although you feel honored, you want to understand the role before […]
Dying intestate is not ideal for distributing your inheritance. You have heard you need an estate plan. The problem is you do not want to pay for a last will and testament. I get that. Is it really bad to die intestate? According to a recent The Sun article titled “Do I Really Need A Will?,” […]
Managing an inheritance can be intimidating and challenging. Receiving an inheritance can be a significant financial blessing. Unfortunately, it comes with great personal loss. In the midst of grieving a loved one, it is difficult to make sound decisions. According to a recent Motley Fool article titled “5 Considerations for Managing an Inheritance,” making financial decisions […]
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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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