Estate planning in Kansas is of vital importance to everyone. If you care about your future, if you want to make sure your life savings are not wasted, or if you care about your family, you owe it to yourself and to the people you love to create a comprehensive estate plan.
Your estate plan needs to make full use of the legal tools available under the law. Parman & Easterday is a trusted estate planning firm. We are members of the American Academy of Estate Planning Attorneys and have decades of collective legal experience helping clients create comprehensive plans to achieve security in their future. Give us a call so you can find out why estate planning is so important and how we can help to make your estate plan a strong one that will protect you and those you love.
Why Estate Planning in Kansas is Important for Everyone
Estate planning in Kansas is very important for everyone because your estate plan will protect your assets, your dignity, and your autonomy. If you want to avoid undesirable medical care; make sure your life savings is safe; and have a say in the legacy you leave behind, you need an advanced plan.
Some of the reasons why estate planning is essential include the following:
- You can make sure your assets are always protected. With either a revocable living trust or a power of attorney (or both) you can choose who will manage your assets if you become incapacitated. If you have a business, a farm, investments which need regular oversight, or any other assets which must be carefully managed, you need an incapacity plan to deal with those assets if you cannot care for them on your own.
- You can spare your family difficult medical decisions and spare yourself unwanted care. With an advanced directive, you can list the types of care you do (and don’t) want to undergo in various serious medical situations. You can also name a healthcare proxy so it is clear who should make your decisions if you become unable to speak for yourself regarding health choices.
- You can create a comprehensive plan for the transfer of assets after death. Your plan may be focused on avoiding estate taxes, which the Internal Revenue Service (IRS) indicates will be assessed on estates exceeding $11.5 million as of 2020. You may also wish to ensure your heirs cannot spend your assets too quickly or lose your assets due to bankruptcy, divorce, or creditor claims. A comprehensive estate plan to facilitate the transfer of assets can also allow you to provide for people in special situations, such as making sure a person with disabilities can inherit from you without losing access to government benefits.
- You can create a plan to protect assets. You need to protect your assets in case you must eventually go into a nursing home. You will not qualify for Medicaid if you haven’t already spent down your assets unless you have created an advanced Medicaid plan. You can protect assets after your death through the use of trusts. You can keep your personal assets safe if you run a business and are vulnerable to liability due to claims against the company. Everyone’s situation is different and many people have unique circumstances which make the creation of their estate plan more complicated. Parman & Easterday can handle any estate planning situation so give us a call and let us help you.
Getting Help With Estate Planning in Kansas
Whether you want to create wills, trusts, a living will, or any of the other components of an estate plan, Parman & Easterday is ready to help you. We’ll make sure you not only identify all of the steps needed to create your comprehensive estate plan but also will ensure your estate planning documents are correctly created and executed.
Estate planning is an area of law where mistakes can be costly, even difficult or impossible to correct. You deserve the right legal advice to ensure everything is done correctly and to ensure you have the detailed and complete plan you need for the future.
To learn more about estate planning in the Kansas City area and to get the help you need, give us a call today at (405) 843-6100 or (913) 385-9400 or contact us online to learn more. You may also wish to join us for a free seminar to find out more about why creating an estate plan is very important for your own protection and for the protection of the people you love.