When a trust is properly created and funded, a trustee will be designated. It is important for trustees in Kansas City to have a good grasp on what their role is, specifically with regards to managing the trust. In fact, the trustee has a fiduciary relationship with the beneficiaries of the trust, meaning that he […]
What Taxes Apply On Estates In Kansas?
When a person passes away in Kansas, his or her estate may be subject to certain taxes. The taxes it will be subject to are based on the size of the decedent’s estate and the individual to whom the assets of the estate will go to. A person’s taxable estate consists of both property that […]
Understanding the ins-and-outs of revocable trusts
A revocable trust can be a valuable part of an estate plan for many residents of Kansas City. In a revocable trust, a person known as a trustee (which can be the individual who created the trust or another person) manages the property placed in the trust and can revise the trust if necessary up […]
What Types Of Trusts Are Available To Kansas City Residents?
There is a wide variety of trusts out for Kansas City residents to consider, and many individuals find that creating a trust is the right choice for passing on their assets. What are some different types of trusts Kansas City residents might be interested in? First of all, what is a trust? In general, it […]
How does probate administration work in Kansas?
Many people in Kansas City may be unfamiliar with the probate process. In general, probate is the process through which the court will sort through and transfer the deceased’s assets. Assets that are in a trust, or that pass to others as beneficiaries of an account that is payable on death, will not be subject […]
What are “revocable” or “irrevocable” trusts in Kansas?
When Kansas residents think of the term, “estate planning,” the first thing that likely jumps to mind is the creation of last wills and testaments. Because wills are the most commonly used tool for planning how to distribute one’s assets after death, it is logical that they are also the most widely known. There is […]
How can estate planning help those nearing the end of their life?
Unfortunately, not everyone in Kansas City creates an estate plan while they are still in good health. Unless they have simply reached a very old age, people cannot predict when they will be nearing the end of their lives, as a grave illness or disabling accident could strike anyone, young or old. However, even if […]
Get Organized with This Estate Planning Checklist
Most people are already aware of the benefits of estate planning, whether they’ve done it themselves or experienced an estate planning disaster brought forward by the experiences of family and friends. Thankfully, an estate planning checklist discussed with an experienced estate planning lawyer can help you figure out what you need to include in your […]
Protection Must be Included in Estate Planning
Asset protection and protection in general must be important cornerstones of the estate planning process. Far too many people think about how to most easily transfer their assets to someone else. However, it is equally important to consider the benefits of asset protection planning. Particularly for those people who are in professions that may be exposed to […]
What you can accomplish with will planning
2016 has seen its fair share of celebrity deaths. While some celebrities had estate plans in place, others, such as music legend Prince, died without even creating a will. They serve as an example, that no matter what your wealth, dying without an estate plan can cause many legal headaches for loved ones left behind. […]
See Larger Map Get Directions