Estate Planning Attorney

The most important thing is simple: competency. You don’t just want to pick out any old attorney (and don’t get us wrong – every attorney we know believes that they can draft a will or trust; most can, but most don’t know all the ins and outs). So, the competency piece is actually hard to find. Locally (Overland Park, etc), there are several good attorneys that focus on estate planning law (besides us, of course). Take your time and find a good estate planning attorney here in OP, KS (call us at (913)908-9113).

Second, find someone that you can communicate with easily. Remember, you are trying to find someone that creates a full estate plan, which can include many other things than just a will or trust. There are asset protection issues (asset protection planning can be an art in and of itself). You need to be able to easily discuss your needs and your lawyer needs to be able to effectively communicate what certain things are, like a advance health care directives (and why you need one), or a living will, or financial power of attorney.

Finally, find someone that meets your budget. Nothing is more frustrating than going in with a set of ideas and realizing after an hour of discussion that it will take you multiple thousands of dollars to create a revocable trust and then even more money to fund it. Get a good idea of this up front. “What is a Revocable Trust in Overland Park, KS?” A Revocable Trust is a document that allows you to transfer assets upon your death without the need of probate. Probate can be expensive and time-consuming. The document can also help you during your lifetime by appointing someone to look over you if you become incapacitated. “What is the difference between a Revocable Trust and a Will?” Quite frankly, not as much as you’d think. Wills are generally more basic than a trust, but they can actually be just as complex (the most complex estate that I ever dealt with was actually a will and not a revocable trust – crazy, huh?). A will simply provides who gets your assets upon your death and also states who gets to take care of your children, etc. The biggest difference between a will and trust is that a will must be probated to be effective while a living trust does not have to go through the probate process. ” What other documents are typical in an Estate Plan in Overland Park, Kansas?” In our “standard” estate planning documents, we provide a Trust and Pour-over will for each spouse (or just a Will for those that don’t want a Living Trust). We also draft up financial Powers of Attorney and Health Care Powers of Attorney. We also draft advance health care directives, like living wills. However, as a course of practice, we do NOT draft up a DNR – Do Not Resuscitate – document unless the specific circumstances demand it. “Isn’t it too Expensive to Invest in an Estate Plan?” Well, it can be. Some clients need very sophisticated estate plans. These types of plans can be multiple thousands of dollars and take a lot of time and effort to implement. Some of the issues include complicated Charitable Trusts and other sophisticated estate planning techniques.

But it doesn’t have to be expensive in Kansas City. Many clients just need the basics: a Will, Financial Power of Attorney and a Healthcare Power of Attorney. Those plans aren’t that expensive.

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An good estate planning attorney is the type of lawyer that, after years of going through law school and being mentored under several other good attorneys, understands the proper way to counsel clients on the ins and outs with regard to a plan. However, any attorney can make a plan. But a good attorney is one that knows how to listen to your needs and then craft a plan that works within those boundaries – one that is flexible enough to meet your needs both now and in the future.

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Estate planning is about more than just paperwork. Instead, it’s about the ability to put together different documents for you and your family. A good plan is one that meets your needs today, but one that is also flexible enough to meet your future needs. It takes into consideration your health and welfare, as well as the potential issues that can affect your legacy.

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A living trust, also known as a revocable trust or loving trust, is a document that you can use to avoid probate. The avoidance of probate can be a significant savings, plus it also keeps your assets out of the court of record after your death. The trust will become the legal owner of your assets. That is, you will need to title your home, plus cars, etc. into the revocable trust.

Giving away property;
Putting residential property in a living trust;
Setting up joint accounts with right of survivorship;
Developing pay-on-death or transfer-on-death (TOD or beneficiary actions) designations; and
Naming beneficiaries of life insurance or retirement accounts (IRAs).

The property of the deceased is held and managed by the administrator (i.e., their personal agent) throughout the management of the estate. The personal agent makes distribution of the estate when the court of probate accepts the purchases made and expenses paid and the recommended distribution timetable.

Missouri has several guidelines relating to timelines on exactly how quickly an estate may be closed and circulation made to the successors or recipients. Nonetheless, it typically takes a year or even more to complete the management.

The following are steps in probate administration:

Employ a legal representative to represent you. Hey, get an attorney already!
Make an application for Letters Testamentary if there is a will admitted (or secure Letters of Representation without a will).
Post notification to the creditors of the deceased. The first date that the newspaper has the publication in its starts the time period for creditors to submit their cases to the court and the personal rep.
Find and appraise the assets of the deceased.
Conduct the estate and sell any property if funds are required to pay costs.
Pay debts, taxes, creditor claims, and expenses.
Prepare a list showing earnings and disbursements.
Get court approval for distribution and close estate.
Creditors’ Rights and the Inventory of Debts The probate court functions as an central, organized place where creditors can perfect their claims and look for payment. Additionally, the personal agent can collect repayment of any financial obligations that others had been obligated to repay to the decedent, in addition to seek the recovery of funds owed to the deceased by others.

These claims by creditors and certain allocations to family members (probate laws allow certain persons, such as a spouse, to get property first – such as the home) will be paid by the personal representative before the heirs can get their distributions. If there are not ample assets to pay all claims and allowances, they are paid in proportion by specific concern classifications (for instance, the funeral costs must be paid previously to general claims). We also have good referrals, such as https://kcbusinesslawgroup.com Midwest Trial Lawyers KC Truck Accident Lawand others.

Probate Expenses in Overland Park Probate estates, as a matter of course, includes the repayment of certain expenses. The costs in the typical estate fall under four major categories.

Bond Premiums: The probate estate could need to pay for a bond for the individual representative to ensure the proper handling of the estate. All distributees of the estate or the decedent in the will may waive the need of a bond if allowed by the court.
Publication costs: A notice to creditors should be posted announcing that the estate has been opened. A notice is provided to the public of the intent to File a Last Settlement or Statement of Account. This should be published just before the estate can be shut unless it is waived by the heirs.
Court Costs: Every estate has to pay the court fees.
Individual Agent’s Compensation and Lawyer’s Charges: our legal representatives will certainly aid you determine the appropriate fees for your estate.
Real Estate Titles in Kansas The administration of a decedent’s probate estate serves to develop clear title to any kind of property which the deceased might have possessed at death. Real estate passes directly to one’s inheritors if a will is admitted to probate. The individual rep will need to obtain a court order to take possession of, or sell, the real estate unless the will offers the individual rep that authority.

It is not possible to pass the title to real estate unless the property goes through the probate process (or unless other probate-avoidance techniques, such as a Trust, are used). In Kansas, probate usually is opened and carried out and a will certainly could be filed within one year after the decedent’s death.

In a similar way, lenders have been known to open an estate so that they could force the sale of a piece of property within a year of the date of death. Nevertheless, if an estate is probated, the time period where the title to the real estate can be so affected is decreased to about 6 months after the very first publication in a paper of good circulation.

Yes, you better believe it (what did you think us to say?). A legal representative is needed to stand for the individual agent in both monitored and independent managements in Kansas. A legal representative could assure that all due dates are fulfilled and avoid errors and hold-ups. A legal representative can in some cases aid the process to family members to stop arguments among them over different issues.

Some folks could submit tiny estate sworn statements and letters of rejection for partners, small children, or lenders without lawyers. Yet utilizing a legal representative can avoid pricey errors, specifically if property is entailed.

One last piece of advice. Our highest fees have come from helping people “clean up” estates that they tried to settle without an attorneys help.

The Eastman Law Firm

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Lisha Review of The Eastman Law Firm – by Lisa Rowan,March 16, 2018 5/5 starsMr. Eastman really took the time to listen to us. He didn’t try and sell us on the most expensive option, but instead worked with us to determine what was right for our family. I really believe that he cares about his clients and I truly appreciate all of his time.