Intro to Estate Planning Documents

Estate Planning Lenexa – Where there’s a will, there’s a way 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 … 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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Understanding Portability

Computers and phones aren’t the only things that are portable today. The gift and estate tax exemption is also “portable” for married couples. Portability simplifies estate planning by allowing a surviving spouse to use the deceased spouse’s unused portion of the $5.45 million gift and estate tax exemption amount. This article explains how married couples … Continued

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Charitable Giving – What You Need to Know

Many taxpayers with charitable intentions struggle with the decision of whether to donate property to charity during their lifetimes or to make a charitable bequest in their wills that will be fulfilled from property included in their estates (testamentary bequests). While taxpayers frequently base their choice between lifetime charitable gifts and testamentary bequests on nontax … Continued

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Properly Funding Your Revocable Trust

  One of the key components of an efficient living trust is to make sure your assets are properly funded into the trust (either at the time of creation or upon your passing. The article below provides more details.   Trust Funding Questions

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