Residents of Kansas City may create a trust so that once their life ends, their assets are passed on to their loved ones per their wishes. However, the trusts themselves can also reach an end point. One way a trust can end is if the creator of the trust either specifies a particular end date […]
Trustees Have An Important Role In Kansas City
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 […]
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 […]
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 […]
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. […]
Why might a trust be preferable to gifts in estate planning?
In the past, this blog has stressed the importance of estate planning, such as creating a will or a trust to pass your property on to your chosen heirs after you die. However, some individuals in Kansas City would rather gift their children property while they are still alive rather than placing that property in […]
What are some grounds upon which a will contest can occur?
The death of a loved one in is an emotionally difficult time for just about anyone in Kansas City. Sometimes this grief is eased if their loved one left a will, which states without question how their loved one wants their property distributed. However, what happens if you disagree with the contents of the will? […]
How can one create a living will in Kansas?
Thinking about what you would want done with regards to life-sustaining procedures is not pleasant, and can be down-right uncomfortable. However, making such decisions as part of an estate plan can ensure that your wishes will be met, and your loved ones won’t be put in a situation in which they’d have to guess as […]
Trusts Can Be Of Use Both During Your Life And After Your Death
Most people in Kansas City associate estate planning with death. However, with trusts, an individual can control his or her assets during his or her lifetime in a way that is impossible with only a will. This blog has touched on certain types of trusts in the past. Today we are going to examine three […]
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