Wills, Estates, & Trusts
Preparation and execution, in accordance with Kansas Law, of The Last Will and Testament for clients in accordance with their instructions includes estate and inheritance tax advice, terms to protect minors and impaired heirs, and other terms to reduce the expense and delay of administering the estate of the client.
Estates represents heirs of deceased persons in administering estates including the liquidation of assets, defense of claims filed against the estate, resolves disputes among heirs and beneficiaries, and proper distribution of assets according to terms of the Last Will and Testament of the deceased person.
Trust agreements allow the assets of the client preparing the trusts to be dispersed to the designated beneficiaries (i.e. family members and loved ones) upon the clients death without the expense and delays occurred in the probate of the client’s estate following his/her death.
Why You Need a Will
If you pass away without a will, the state will disperse your assets, decides who gets what without regard to your wishes. If you have children, having a will will determine guardianship of your children. Having a will can save your family time, money and grief.
What is a Living Trust?
Like a will, a living trust is a document that spells out exactly what your plans are in regards to your assets, your dependents, and your heirs. A will becomes effective only after you die, whereas, a living trust can be created while you’re alive. A living trust also avoids probate, meaning a faster distribution of your assets.
Don’t Delay, Update your Estate Plan
Everything that you own, such as your home, automobiles, furniture, other real estate, checking and savings accounts, investments, life insurance, and other personal possessions, are considered your estate. Estate planning is a process in which you make a plan as to who will own these possessions once you die.
It’s a good idea to update your estate plan every few years due to major life changes. Marriage, divorce, remarriage, children, or a change in financial status are examples of these significant life changes. Over time, you may realize that these changes have made you reevaluate your priorities.