Estate Planning Attorneys

Everyone needs to prepare a will

Your will determines how your property is distributed after your death.   More importantly, your will provides for the care for your minor or disabled children and the management of their property.  Some people avoid preparing their will because it makes them uncomfortable to think about their own death.  This is not helpful to you or your family and heirs.

Your plan or the state’s

When a person dies without a will—or intestate, as it is called—the state essentially writes a will for that person and dictates who will inherit the property and how other issues are resolved.  The state’s beneficiaries may not be the same ones you would choose.  The attorneys at Kreamer Kincaid Taylor Lipsman Parks & Arney, L.C. can help prepare a legal written will to make sure that your final wishes—not those of the state of Kansas or the state of Missouri—are carried out.

Estate administration

A will goes through a probate proceeding to establish its validity and officially appoint the executor named in the will.   If an executor has not been named, an administrator is appointed by the court.  The attorneys at Kreamer Kincaid Taylor Lipsman Arney & Wait, L.C. assist executors in performing their many responsibilities including:

  • Notifying heirs
  • Managing and protecting the estate assets
  • Collecting and conducting an inventory of estate assets
  • Distributing the estate assets to beneficiaries
  • Transferring legal ownership of real estate
  • Continuing ongoing business of the estate
  • Paying bills and creditors including medical bills of the decedent
  • Filing income and estate tax returns and paying taxes
  • Selling property so that funds are available for various estate obligations
  • Handling challenges to the will

Some assets of the decedent are not subject to probate because ownership does not pass under the will.  These assets may still be subject to estate tax.  Ownership passes automatically upon proof of death for:

  • Life insurance
  • Property held jointly with right of survivorship
  • Pay or transfer on death bank and security accounts
  • Estate planning

It is probably more important than ever before to consult an attorney for an estate plan.  Estate tax laws are in transition and very complicated.  Tax rates on some estates are scheduled to revert to very high rates starting in the year 2011.   Planning your estate with the guidance of a qualified attorney can make a big difference in the amount of taxes your estate pays or avoids.  We at Kreamer Kincaid Taylor Lipsman Arney & Wait, L.C. have a thorough understanding of the rules and know how to structure a plan that is best for your circumstances.  This may be accomplished through gifting and transferring assets during your lifetime.

Elder planning

Our attorneys strongly recommend having a plan and supporting documents in place to provide for yourself or your elderly parents.  Medicare, Medicaid, nursing home, and long-term care issues are extremely complex and advance planning can save time and money.  Spending down of assets and gifting programs may save money.  Medical care decisions in case you are incapacitated can be legally designated to another through preparation of a living will or durable power of attorney for healthcare decisions.

Our attorneys offer comprehensive estate and elder care plans services including:

  • Will preparation
  • Powers of attorney
  • Estate planning
  • Estate tax returns
  • Revocable and irrevocable trusts
  • Estate probate
  • Probate litigation
  • Guardianships and conservatorships
  • Adoptions
  • Living wills
  • Durable powers of attorney for healthcare decisions
  • Succession planning
  • Elder law planning

Accomplished and practical attorneys

Contact Kreamer Kincaid Taylor Lipsman Arney & Wait, L.C. for practical and cost-effective solutions to many legal issues.

Call us at 913-782-2350 or contact us online.