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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.
Is it Really Necessary to Go Through the Probate Process in Kansas?
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).
Creditors’ Rights and the Inventory of Debts
Real Estate Titles in Kansas
Streamlined Probate Alternatives in KS
Is A Lawyer Necessary in Probate ?
Lenexa, KS is the one of the largest cities in Kansas and sits in the western half of Johnson County. Known for its fantastic schools and wide variety of businesses, it is one of the greatest places to live on earth.
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A will is a legal document that states who gets your assets when you die, as well as state who gets to take care of your minor children after your death. A will in Kansas requires witnessed, and it is good practice to also get it notarized. A will, however, is not valid until it is probated by the court.
Just how Does the Probate Process Work ?
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.
What Taxes are Owed under Kansas Law?
Probate Expenses in Lenexa
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.