Having at least a basic estate plan in place is one of the most valuable gifts you can give to your loved ones. Despite knowing this, a significant percentage of Americans do not have a plan. When asked to explain the apparent dichotomy, a common response is that estate planning is intimidating. One way to make estate planning less intimidating is to learn some of the basic terms and concepts. With that in mind, the Overland Park estate planning attorneys at Parman & Easterday define the … [Read more...]
Special Accounts for People with Special Needs
ABLE accounts provide tax benefits and flexibility to disabled people. ABLE accounts are available to those disabled before age 26. Read on to learn more about ABLE accounts and how they can be used with a Special Needs Trust for maximum advantage.Special Accounts for People with Special Needs … [Read more...]
What Are 529 Plans and What Are Their Advantages?
What are 529 plans? Can they be held in trusts? Read on to learn more about these plans and why to consider them.What Are 529 Plans and What Are Their Advantages? … [Read more...]
Making Trusts More Flexible
Trusts can be drafted to be quite flexible. This article examines several ways you can add flexibility to your trust. This added flexibility will increase the usefulness of your trust.Making Trusts More Flexible … [Read more...]
Many Reasons to Plan
Each of us will die eventually. This article looks at how planning can make our passing easier for our loved ones. Specifically, this article looks at how planning can maintain privacy for your loved ones.Many Reasons to Plan … [Read more...]
Does My Estate Have Sufficient Liquidity?
Estate planning often involves creating a complex plan that achieves a wide range of inter-connected goals. Your estate assets are usually at the center of that comprehensive plan. While you may be focused on amassing as many assets as possible, you could be overlooking another important aspect of estate planning – estate liquidity. The Overland Park estate planning attorneys at Parman & Easterday explain what estate liquidity is and why it is important to pay attention to it within your … [Read more...]
Clarity is Key to Planning & How Tom Petty Could’ve Done It Better
Clarity is essential in an estate plan. This article examines the case of Tom Petty, what he did right and what he did wrong. It shows that clarity can avoid problems later.Clarity is Key to Planning … [Read more...]
Why Crowdfunding May Cost You Medicaid Eligibility
Each year, crowdfunding websites raise money for causes. Did you know such a website could impact your eligibility to receive Medicaid? Read on to learn how crowdfunding can impact Medicaid eligibility.Why Crowdfunding May Cost You Medicaid Eligibility … [Read more...]
Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
TOD/POD, beneficiary designations, and joint tenancy can be simple ways to transfer assets at death. However, these simple methods lack some of the benefits of a trust. Read on to learn more.TOD (Transfer on Death) designations, POD (Pay on Death) designations, and beneficiary designations can be useful in the right circumstances. Each of these tools allows for an automatic transfer to the named beneficiary at the death of the owner. But these tools can have a few shortfalls. First, if the … [Read more...]
Kiddie Tax is Worse Than Ever
The Kiddie Tax can apply to the unearned income of children. Read on to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax.Kiddie Tax is Worse Than Ever … [Read more...]
