Trustee fees are paid to the individual or company managing a trust. You have created a revocable living trust. Because of your goals, this is the best way to manage your assets should you become incapacitated and distribute them to your loved ones when you die. With any trust, a trustee is required. While you […]
A letter of instruction allows you to provide helpful information to those handling your estate. You have your estate plan in place. The documents created by your estate planning attorney provide the courts or trustees with the essential instructions for the administration and distribution of your assets. Even so, you have thought of additional information […]
A fiduciary duty requires one to prioritize the needs of another. You have heard the term “fiduciary duty.” Perhaps you heard it in conjunction with your investments or your estate plan. The problem? You do not know what it means. According to a recent Forbes article titled “What Is Fiduciary Duty?,” you are not alone. […]
Trusts can be created to serve specific purposes. When it comes to estate planning, people usually have either a will-based plan or a trust-based plan. Those with a will-based plan intend to distribute assets through the probate court. Those with a trust-based plan intend to skirt probate and distribute assets through the instructions provided in […]
Real estate investments should be included in your estate plan. You have real estate investments. Perhaps your real estate is limited to your own home. Maybe you have expanded into commercial real estate investments. According to a recent Motley Fool article titled “How to Include Real Estate Investments in Your Will,” these should be addressed in […]
Parents should make plans for minor children. You are a parent. Maybe you have been a parent for years and have several children. Perhaps you are a new parent who recently welcomed your first child. Parenthood is exciting, rewarding, and fun. It is also a significant responsibility to protect and care for your children. According […]
Trust beneficiaries may need to pay taxes on distributions. A trust is a useful estate planning tool. It holds assets and distributes them to the trust beneficiaries according instructions provided in the trust itself. It also provides greater control and protection of assets in estate planning. A common question with estate planning involves whether beneficiaries […]
You should plan for your pets during the current pandemic. Your pets are part for your family. They are with you in the best of times. They also support you in challenging times like the current pandemic. Perhaps you have welcomed a new pet during your time in quarantine. According to a recent The Harvard […]
There are certain times in life when you should update your last will and testament. If you already have a last will in place, you have done more planning than the majority of your fellow Americans. Although you can certainly congratulate yourself, do not become overly confident. Your last will needs to be reviewed and […]
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 […]
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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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