Blog Posts Page 14

In the past, this blog has discussed the reasons why probate in Kansas is an important step in the distribution of assets. When a person has a will, the person who carries it out is known as the executor. An executor may be appointed in the will itself, or the court may appoint an executor…. Read More »

When a trust is properly created and funded, a trustee will be designated. It is important for trustees in Kansas City to have a good grasp on what their role is, specifically with regards to managing the trust. In fact, the trustee has a fiduciary relationship with the beneficiaries of the trust, meaning that he… Read More »

When a person passes away in Kansas, his or her estate may be subject to certain taxes. The taxes it will be subject to are based on the size of the decedent’s estate and the individual to whom the assets of the estate will go to. A person’s taxable estate consists of both property that… Read More »

There is a wide variety of trusts out for Kansas City residents to consider, and many individuals find that creating a trust is the right choice for passing on their assets. What are some different types of trusts Kansas City residents might be interested in? First of all, what is a trust? In general, it… Read More »

Estate planning and property ownership go hand-in-hand for many individuals in Kansas City. After all, a major component of estate planning is determining how to pass your property on after you die. However, did you know that how you own property can affect what you can do with it through estate planning? For example, lets… Read More »

A revocable trust can be a valuable part of an estate plan for many residents of Kansas City. In a revocable trust, a person known as a trustee (which can be the individual who created the trust or another person) manages the property placed in the trust and can revise the trust if necessary up… Read More »

Many people in Kansas City may be unfamiliar with the probate process. In general, probate is the process through which the court will sort through and transfer the deceased’s assets. Assets that are in a trust, or that pass to others as beneficiaries of an account that is payable on death, will not be subject… Read More »

Some Kansas residents, prior to their death, have taken the necessary steps to create a will, while some have neglected to do so. That being said, unless there is a trust in place the deceased’s property will go through probate, whether they have created a will or whether they have died intestate. However, there are… Read More »

After a resident in Kansas City creates a will or trust, the legal journey doesn’t end.. Once the creator of the will or trust passes away, the directions in those documents need to be carefully followed with all the proper legal formalities through trust and probate administration. Of course, not everyone who passes away has… Read More »

Residents of Kansas City may create a trust so that once their life ends, their assets are passed on to their loved ones per their wishes. However, the trusts themselves can also reach an end point. One way a trust can end is if the creator of the trust either specifies a particular end date… Read More »