Estate Planning Tips – Irrevocable Life Insurance Trusts

Life Insurance is an often overlooked tool used in your estate plan to provide for your loved ones while providing peace of mind to you. While life insurance alone will provide funds for you named beneficiaries, we sometimes go a step further by creating an irrevocable life insurance trust (ILIT) to hold the policy. This … Continued

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Beneficiary Deeds 101

There is a simple and effective way to avoid probate of your residence. A beneficiary deed allows you to retain ownership of your house while designating who should receive the property upon your death. It doesn’t affect your mortgage or title until something happens. It’s a smart tool for you to consider in your estate … Continued

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Transfer on Death Deeds – What you need to know

One of the easiest ways to avoid probate is to transfer your house using a special type of deed recognized in Missouri and Kansas. This type of deed is known by various names: a beneficiary deed or transfer on death deed, but the effect is the same. It allows you to retain ownership of your … Continued

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Intro to Estate Planning Documents

How to Start a Will  Well-crafted, up-to-date estate planning documents ensure your wishes will be carried out. They also can help ease the burdens on your family during a difficult time. The will Do you have questions about wills? Maybe you are unsure what a will does? A will is a document executed in front … Continued

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Estate Planning Kansas City – Probate 101

The Basics of Probate Probate and the probate process is a confusing and somewhat counter-intuitive judicial process. The good thing about probate is that it enables the intent specified in your will (if you have one) or provides a process for administering your estate if you don’t have a will. However, avoiding the probate process … Continued

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Estate Planning Olathe – Family Business

Reviewing your company’s buy-sell agreement If you own a business and follow professional advice, you’ve likely established a buy-sell agreement in case you or a co-owner voluntarily or involuntarily leaves the company. Assuming this is true, remember that it’s not enough to draft an agreement and put it in a safe place. You need to … Continued

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Protecting Your Retirement Account

Are your retirement savings secure from creditors? A primary goal of estate planning is asset protection. After all, no matter how well your estate plan is designed, it won’t do much good if you wind up with no wealth to share with your family. If you have significant assets in employer-sponsored retirement plans or IRAs, … Continued

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Estate Planning in Kansas City – Prepaid Funeral Plans

Prepaid funeral plans may not provide peace of mind The cost of a funeral has increased steadily during the past two decades. In fact, once all funeral-related costs are factored in, the typical traditional funeral service will cost an average family $8,000 to $10,000. To relieve their families of the burden of planning a funeral, many … Continued

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Estate Planning in Overland Park – Think Twice about Joint Ownership

Owning assets jointly with children or other heirs is a common estate planning “shortcut.” There are two potential advantages to joint ownership: convenience and probate avoidance. But, it can also create a number of problems, such as unnecessary taxes. Adding a child’s name to the title may be considered an immediate taxable gift of one-half … Continued

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