Ascertainable Standards in Estate Planning: What They Are and Why They Matter
Understanding Ascertainable Standards in Estate Planning: The Key to Smart Trust Design and Tax Protection In the world of estate planning, trust language is critical. A few key words can determine whether assets are protected from creditors, how much discretion a trustee has, or whether trust distributions are subject to gift or estate tax. […]
Famous Estate Planning Failures and the Costly Consequences
Estate Planning Blunders of the Rich and Famous Estate planning is one of the most important steps individuals can take to protect their wealth and provide for loved ones. Yet, even the rich and famous surrounded by advisors and wealth managers have made critical mistakes in this area. These missteps often lead to years […]
The Hidden Risk of Adding Your Child to Your Home’s Title
Should I Add My Son or Daughter to My Home’s Title? At first glance, adding your son or daughter to the title of your home might seem like a smart and simple way to avoid probate and ensure a smooth transfer of ownership after your death. Many parents assume that making their child a […]
Frequently Asked Questions About Revocable Living Trusts
Revocable Trusts in Kansas and Missouri: Common Questions Can I act as my own trustee? Yes. If you are legally competent to manage your own financial affairs, you can serve as the trustee of your own revocable living trust. In fact, most people who create revocable living trusts name themselves as trustee. If you’re […]
Why Everyone Needs an Estate Plan – No Matter Their Wealth
The Importance of Estate Planning in Kansas and Missouri As an estate planning attorney, I see the benefits of a properly organized estate every day. Clients who have taken the time to plan ahead often experience smoother transitions, minimized expenses, and greater peace of mind—both for themselves and their loved ones. But to many […]
Understading Account Ownership Types in Estate Planning
What You Need to Know About Tenancy and Survivorship in Missouri and Kansas When it comes to estate planning, many people focus on drafting wills and setting up trusts, but few realize how account ownership can have a significant impact on what happens to their assets after death. How you hold title to your […]
Understanding “Per Capita” in Estate Planning – A Simple Guide to Equal Inheritance Distribution
What Does “Per Capita” Mean in Kansas and Missouri Estate Planning? Estate planning often involves unfamiliar legal terminology, and one term you may come across is “per capita.” Understanding this concept is key to making informed decisions about how your estate will be distributed after your death. While it may sound technical, per capita […]
What Does “Per Stirpes” Mean in Estate Planning?
What Does “Per Stirpes” Mean in Kansas and Missouri? When diving into the world of estate planning, you’re bound to encounter legal terms that sound foreign or confusing. One such term is “per stirpes.” While it may sound like complicated legal jargon, understanding this concept is essential for ensuring that your assets are distributed […]
Preserving Generational Wealth Through Incentive Trusts
Can an Incentive Trust Motivate My Children to Work Harder? A key concern for many high-net-worth families is the loss of generational wealth. This is more than just anecdotal fear, it’s a well-documented phenomenon. According to Forbes, a staggering 70% of affluent families lose their fortunes by the second generation. By the third generation, […]
Why Younger Adults in KS and MO Should Start Estate Planning Early
Young and Planning Ahead: Smart Estate Strategies for Kansas and Missouri Residents Many people still assume that estate planning is something to worry about only in retirement, or when they start accumulating significant wealth. In reality, the best time to begin thinking about an estate plan is often far earlier—immediately after becoming a legal […]