It is Time to Plan for You
Now that the children have left the house, we focus squarely on maintaining your quality of life while starting to think about preserving your legacy.
Estate Plans Grown Children.Once your children have moved out, the estate planning process begins to shift. While we continue to protect your children, while focusing on maintaining your quality of life and preserving your legacy. Each family has different goals. Do you want to pay for you grandchildren's college? We can plan for that. Is supporting your church or other charities important? We can help you determine the best way to leave gifts. We feel it is important to develop a plan designed to meet your goals, this may include one or more of the following concerns:
Encouraging and Supporting Loved Ones
All too often, children receive substantial assets before they are mature enough to handle them properly, often times leading to devastating results. To avoid this outcome, we will work with you to determine whether you would like your beneficiaries to receive your assets directly, or whether you prefer to have the assets placed in trust and distributed based a number of factors which you designate, such as age, a child's needs, educational accomplishments, etc.
Get started today with our Estate Planning Checklist.
If you leave your estate to your loved ones using a will, everything you own will pass through probate. The process is expensive, time-consuming and public. The probate court is in control of the process until the estate has been settled and distributed. It is not unusual for the probate courts to freeze assets for weeks or even months while trying to determine the proper disposition of the estate. Your surviving spouse may be forced to apply to the probate court for needed cash to pay current living expenses.With proper planning, your assets can pass on to your loved ones without undergoing probate, in a manner that is quick, inexpensive and private.
Use Estate Planning to Protect Your Nontraditional or Blended Family
Nontraditional or blended families present a unique set of concerns to be addressed. Spouses with children from a prior marriage often want to ensure their children are supported or remembered. Domestic partners need to have appropriate powers of attorney as well as traditional estate planning documents to allow his or her partner to make decisions and manage affairs. Contact us for help.
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A well-crafted estate plan should provide for your loved ones in an effective and efficient manner by avoiding issues during your lifetime, probate at death, estate taxes and unnecessary delays. Once your estate plan is in place, you will have peace of mind knowing that you have provided for yourself and your family in case the worst happens.
Wills, Trusts and Estate Planning attorney serving Leawood, Lenexa, Mission, Olathe, Overland Park, Prairie Village, Roeland Park and Shawnee from our Overland Park office and Liberty, North Kansas City, Parkville and Riverside from our North Kansas City office.
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Most people know about wills and their basic purpose – to ensure that one’s hard earned assets go to the right beneficiaries when an individual passes away. Wills are used to distribute your property, name a guardian for minor children and name an executor of your estate.
A living trust allows your property to be transferred to your beneficiaries, quickly and privately, with little to no court intervention, maximizing the amount your loved ones end up with. In a living trust, you name yourself as trustee, which makes you the person in charge of your property. As trustee, you retain total control of the property you transfer into the trust. You can amend your trust at any time and can even revoke it entirely.
If you leave your estate to your loved ones using a will, everything you own will pass through probate. The process is expensive, time-consuming and open to the public. The probate court is in control of the process until the estate has been settled and distributed. With proper planning, your assets can pass on to your loved ones without undergoing probate, in a manner that is quick, inexpensive and private.
Mr. Rasmussen made things simple. He prepared an excellent trust/will for my fathers estate that saved me a lot of headaches and frustration when my father passed away. He was very knowledgeable and professional during the whole process. I would definitely recommend his company and services.
I love working with Todd Rasmussen an Estate Planning Attorney. He was super easy to work with. My advice is to not wait until it is too late.
He looked out for my best interest versus just treating me like a customer. I felt like family.
Estate Planning Kansas City did an outstanding job and provided a very valuable service to us. They assisted us in addressing very complex situations that can occur in a lifetime. This included but not limited to health care directives, provisions for managing estate during any temporary health issues and ensuring beneficiaries are of sound medical, mental and financial capacity prior to distribution of estate. Very happy with results and would HIGHLY recommend Estate Planning Kansas City Todd Rasmussen and his staff!
I have always found the estate planning process a challenge in trying to get my assets and trusts to work together the way I wanted them to. Thanks for easing my mind and pulling everything together.