As Halloween approaches, it’s a perfect time to face some “spooky” questions about your estate planning. While they might seem “scary”, these questions are essential for ensuring your loved ones are taken care of when you’re no longer here. By confronting these “spooky” topics now, you can make the process easier for both yourself and your family.
As a Kansas City trust lawyer, I can tell you that being a Trustor isn't about joining some secret society or learning a new dance move. It's about taking control of your legacy and protecting your family's future.
Summer flew by, didn't it? It seems like just yesterday we were firing up the grill for Memorial Day! Wonderful back to school photos are flooding our social media. I know August is usually a whirlwind of activity (it sure is in our house), trying to squeeze in those last few trips and checking off [...]
The loss of a spouse is an emotional challenge that many of us will eventually encounter. It's a difficult transition, and no matter how well-prepared we might think we are; the reality is always a tough journey. Beyond the emotional adjustment, there are practical and necessary steps to take on the legal and financial front which can seem overwhelming in a time of grief.
While National Make-a-Will Month highlights the importance of having a will, it's crucial to understand that a will is just the first step in creating a comprehensive estate plan. A complete plan protects you and your loved ones during your lifetime and beyond. Lifetime Protection: Planning for the Unexpected A will primarily addresses what happens [...]
Sadly, family feuds are more common than we'd like to admit. These tensions can become incredibly stressful and even more so when one family member experiences a health crisis.
Many Americans unknowingly own mineral rights, or have the potential to inherit them. These rights encompass resources like oil, gas, precious metals, and more. Even if you don't live in a traditionally "mineral-rich" area, these rights can be passed down through generations, creating a surprise windfall, or posing a complex estate planning challenge.
Starting the IVF process opens a world of excitement and hope for many couples. But amidst the anticipation, a sometimes uncomfortable reality emerges: what happens to the remaining embryos or genetic material if one or both parents die?
While the idea of a "prenup" is well-known, postnuptial agreements are often overlooked. These agreements, signed after marriage, can be a vital part of your Kansas City estate plan. They provide clarity and protection, particularly as your life and circumstances change. What is a Postnuptial Agreement? A postnuptial agreement is a legal contract between spouses [...]
You've found your dream home and your offer's been accepted – this is an exciting time! As you approach closing, your agent, attorney, or title company will ask how you'd like to hold the title to the property. While individual ownership is common, placing your new house into a trust right from the start has compelling advantages.
If you share a close bond with your nieces and nephews, ensuring they're included in your estate plan is natural. However, the laws of inheritance can complicate things, especially for younger beneficiaries.
The word "trust" gets used quite broadly, creating potential confusion. While a "living trust" is a widely discussed instrument for estate planning, it's crucial to understand that not every trust is a living trust. Below our Kansas City estate planning lawyers break down the key distinctions.
Buying a new home is more than just a significant financial investment; it's a key component of your overall estate. As you embark on this exciting journey, it's crucial to consider how this asset will be managed, both now and in the future. One effective strategy for managing real estate assets is setting up a trust, a tool that a knowledgeable Kansas City trust attorney can help you navigate.
Two common types of trusts are revocable and irrevocable trusts, each with its own set of features and benefits.
One of the most critical components of any estate plan is preparing for the possibility of incapacitation.
When you're working with a Lenexa trust attorney, it's crucial to understand what you can include in your trust document. Let's explore the variety of instructions or restrictions that can make your trust truly yours, ensuring your legacy is managed just the way you envision.
Your life insurance policy is a dynamic tool that can be adjusted as your life changes. While you have the flexibility to change beneficiaries, it's essential to do so thoughtfully and with a clear understanding of any potential implications.
Having witnesses for your will is not just a formality; it's a crucial step in ensuring your final wishes are honored. By understanding the importance of this process, you can ensure that your estate planning efforts stand the test of time and any potential legal challenges.
Your Kansas Will and Trust Lawyer Explains How to Navigate Estate Planning Without Heirs Heir: noun, plural noun heirs: a person legally entitled to the property or rank of another on that person's death. Many people mistakenly believe that without direct heirs—like children or grandchildren—there's no need for estate planning. However, the reality is quite [...]
How It Affects You and Your Retirement Account Beneficiaries On December 29, 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0 Act). The previous SECURE Act signed in 2020 made several changes to retirement planning: It increased the required beginning date (RBD) for required minimum distributions (RMDs) [...]
Planning for the unthinkable - naming a guardian for your minor children in your estate plan.
Health Care Planning In Your Estate Plan Your estate plan can and should include advance medical directives such as a Power of Attorney for Medical Decisions, Living Will, and a general HIPPA release. These documents will allow family and medical providers to know your wishes when it comes to your health care and end of [...]
Yes, every Kansan 18 years and older should have an estate plan What estate planning documents does a young adult need? A majority of 18 year-olds will only need some basic estate planning documents. These documents will focus on the what ifs: what if the young adult is in a vehicle accident and incapacitated, what [...]
Everyone needs an estate plan. But, what does estate planning mean? Estate noun: all the money and property owned by a particular person, especially at death. Plan noun: a detailed proposal for doing or achieving something. Plan verb: decide on and arrange in advance. Your estate plan consists of the planning and documents you prepare [...]