Making a charitable contribution can benefit the giver and receiver. It is now the month of December. Whether you celebrate Christmas or Hanukkah, holiday preparations are well underway. Travel is being planned, lights and decorations are going up, and treats are being baked. You have likely started preparing gifts for your friends and family. Perhaps […]
Estate planning attorneys are essential to protecting yourself and your loved ones. Attorneys tend to get a bad “rap," deservedly or undeservedly. I know numerous unflattering jokes about attorneys. Like all comedy and humor, what makes them funny is the hint of truth and relatability. Okay, here is one of my favorite attorney jokes. In […]
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 […]
Transfer on Death accounts can be used wisely or poorly. When it comes to passing inheritances to heirs, there are a variety of options. Most commonly, people think of using a last will and testament or a revocable living trust (RLT). Fewer people initially think of transfer on death (TOD) designations, or payable on death […]
Making IRA mistakes can be costly. Saving for retirement seems as if it should be pretty straightforward. Many people believe the only thing they need to do is set aside part of their paycheck every month into an IRA. Although you cannot save for retirement without setting aside money, this is only part of successful […]
The SECURE 2.0 Act was passed in 2022. Preparing for retirement includes financial planning. People need to save money to help pay for goods and services when they no longer receive a income from their employment. Although most employers no longer provide pensions for their employees, most businesses offer some type of retirement benefit. According […]
Long-term care insurance can have tax benefits. Spoiler alert for those who are young right now. Health declines with age. Through exercising and eating a nutritious diet, people can often delay the onset of age-related health problems. Even so, these issues cannot be avoided forever. According to a recent Smart Asset article titled “Is Long-Term […]
Gifting a home to children can be a more complicated estate transfer. Houses are the most valuable assets for many people. They can also be one of the more complicated assets to distribute to heirs. Many aspects like taxes and how to divided the value of a home should be discussed and addressed in estate […]
Certain transactions with retirement accounts can trigger penalties. Retirement accounts like IRAs can be wonderful investment tools for your golden years. Depending on the account, they can also provide tax incentives while you are working or while you are retired. Because they are focused on helping you save for retirement and also have tax benefits, […]
Beneficiary designations cannot be overlooked in estate planning. Movies and media often misrepresent estate planning. They tend to focus only on the last will and testament of an individual. In doing so, it appears this is the only means of distributing wealth. Nothing could be further from reality. According to a recent Kiplinger article titled […]
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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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