People must transfer property to others when they die. All humans come into this world with nothing of their own. Toys, clothes, and food are provided to them by their parents or gifted by other family and friends. As individuals go through life, they may purchase a vehicle, a home, furniture, jewelry, and art. Bank […]
Every adult should prioritize incapacity planning. How often do you drive past a car wreck on the highway in Johnson County, Kansas, or in Jackson County, Missouri? When was the last time you heard of the recent death or tough diagnosis of a friend or relative? Tragedy can certainly strike suddenly. We would not choose […]
A pour-over will is beneficial in trust planning. Estate planning typically involves trust-based or will-based planning. The distinctions arise from what documents form the foundation of a comprehensive estate plan and how assets are managed and inherited. Although someone may select a trust-based plan, this does not mean they will necessarily bypass using a last […]
A trustee is responsible for trust administration. Trusts are useful estate planning tools for those who want to retain greater control over assets or maintain the privacy of their affairs. Several factors impact whether a trust will be effective. An experienced estate planning attorney creating the documents is critical to a healthy foundation. The trustmaker […]
Retirees and others can benefit from a revocable living trust. Estate planning attorneys ask for a lot of personal and financial information when meeting new clients. Some people find this to be inconvenient. This simple inconvenience serves an important purpose. It helps the estate planning attorney conceptualize the needs of the clients because the information […]
A pour-over will can help tie up loose ends. Revocable Living Trust-based plans work as intended when the trust is funded. Some assets are placed in the trust while the trustmaker of the trust is alive. Other assets are intentionally left out or simply forgotten - more commonly, the latter. According to a recent Coeur […]
New parents should protect their children through estate planning. Adulthood brings many responsibilities. Bills and rent must be paid. Groceries must be purchased, and meals prepared. Laundry must be sorted, washed, dried, and folded. Such tasks are no longer simple chores but are necessary for daily living. According to a recent The Motley Fool article […]
Living trusts and wills are both effective in distributing an inheritance. In times past, ancient pharaohs and other royalty were buried with portions of their wealth. This is no longer a common practice. Nowadays, people generally believe you cannot take your stuff with you when you die. As one old saw holds, "You will never […]
Limited Liability Companies (LLCs) and trusts are both helpful for asset protection. Asset protection can be a priority for many in their life and estate planning. This is especially important for those with much to lose as business owners. Two common tools for asset protection include trusts and Limited Liability Companies (LLCs). According to a […]
A revocable trust must be funded to be effective. Follow through is important. Committing to an athletic training routine will improve your ability in a given sport. Making good on your word builds trust. According to a recent The National Law Review article titled “’It Ain’t Over ‘Til It’s Over’ – Use of a Funded […]
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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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