Using Insurance with Your Estate Plan

Life insurance can provide peace of mind that your family will be provided for after you’re gone. If you’re concerned about their money management skills, an irrevocable life insurance trust (ILIT) may be beneficial because your heirs won’t receive the insurance proceeds directly, as they would if they were the policy beneficiaries. Rather, they’ll be … Continued

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What You Need to Know About Your Individual Retirement Account

Are you leaving your IRA to someone other than your spouse? An IRA can be a powerful wealth-building tool, offering tax-deferred growth (tax-free in the case of a Roth IRA), asset protection and other benefits. But if you leave an IRA to your children — or to someone else other than your spouse — these … Continued

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Going Back to Basics with Asset Protection Strategies

Using asset protection trusts and other means to protect your wealth. Asset protection trusts — both offshore and domestic — can be effective vehicles for protecting your wealth in today’s litigious society. But these trusts can be complex and expensive, so they’re not right for everyone. For those seeking simpler asset protection strategies, there are … Continued

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Estate Planning Questions: When to Step In for Your Parents

A difficult decision: Having an elderly parent declared incapacitated If your elderly parent’s mental state is deteriorating to the point where he or she is unable to manage day-to-day activities, it may be time to make the difficult decision to have him or her declared incapacitated. But how do you know if such action is … Continued

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Will Donald Trump Change Your Estate Plan?

Estate Plans in Kansas City may be impacted by the Trump Presidency. The election cycle created a number of questions for estate planning attorneys in Overland Park and throughout the metro area. Each candidate presented their views on estate tax, which as one commentator noted where completely opposite of each other. Now that the election … Continued

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Thinking about downsizing? Read this first.

Estate Planning Services in Prairie Village and Leawood often Address Concerns about the Home. As part of the estate planning work we do in Prairie Village and throughout Kansas City, we often ask about the family’s residence. Specifically, what should happen to the house if something were to happen to our client. Many times we … Continued

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Essentials of Estate Planning with Johnson County Community College

We are working with the Continuing Education program of Johnson County Community College to offer an Essentials of Estate Planning class that will educate you on the basics of wills, trusts, powers of attorney and other non-probate transfers. We will also compare the practical differences between a will-centered estate plan and a revocable living trust. … Continued

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The Benefits of a Beneficiary Deed

  If you consider your house to be your most valuable asset, this article is for you. One of the easiest ways to transfer your house while avoiding probate is through the use of a special type of deed recognized in Kansas. This type of deed is known by various names: a beneficiary deed, transfer … Continued

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