Estate planning is an essential step in safeguarding your assets and ensuring your family’s future is secure. This area of law encompasses various tools designed to address a wide range of life situations, from drafting wills and trusts to establishing powers of attorney and healthcare directives. Whether you are planning for the distribution of your estate, protecting loved ones, or preparing for potential incapacities, a tailored estate plan provides peace of mind and clarity for the road ahead.
Our experienced attorneys in the Manhattan office are dedicated to helping clients navigate the complexities of estate planning. We take the time to understand your unique circumstances and goals, offering personalized solutions that reflect your wishes. From creating comprehensive plans for high-value estates to addressing specific concerns like guardianship or charitable giving, we provide guidance every step of the way. With our help, you can take proactive measures to protect what matters most and build a lasting legacy for your family.
Kansas Estate Planning FAQ
What is the difference between a will and a trust?
A will outlines how your assets should be distributed after your death and appoints guardians for minor children if necessary. A trust, on the other hand, involves transferring your assets to a legal entity managed by a trustee. Trusts allow for asset management both during your lifetime and after your death and can avoid the probate process.
Do I need an estate plan if I already have a will?
Yes, a comprehensive estate plan includes more than just a will. It may involve trusts, powers of attorney, and healthcare directives to manage your affairs during your lifetime and after your death. A will is part of the plan but not the whole picture.
What is the probate process in Kansas?
Probate is the legal process where a court oversees the distribution of a deceased person’s assets. It validates the will, ensures debts and taxes are paid, and distributes the remaining estate to beneficiaries. Kansas offers simplified probate options for smaller estates.
How can I avoid probate in Kansas?
You can avoid probate by using tools like living trusts, joint ownership with rights of survivorship, or beneficiary designations on accounts and insurance policies. These strategies allow assets to pass directly to beneficiaries without court involvement.
What is a power of attorney, and why is it important?
A power of attorney (POA) is a legal document allowing someone you trust to handle your financial or health-related decisions if you become unable to do so. It’s essential for ensuring your affairs are managed according to your wishes during incapacity.
Are there different types of powers of attorney in Kansas?
Yes, the two main types are:
Durable Power of Attorney: Handles financial matters and remains effective if you become incapacitated.
Medical Power of Attorney: Designates someone to make healthcare decisions on your behalf.
You can customize POA documents to best fit your needs.
Are Kansas estate taxes something to be concerned about?
Kansas does not have an estate or inheritance tax. However, federal estate taxes may apply if your estate’s value exceeds certain thresholds ($12.92 million as of 2023). An estate planning attorney can help you assess tax concerns and minimize liabilities.
What are the advantages of a living trust in Kansas?
A living trust offers several benefits:
Avoiding probate, saving time and costs.
Keeping your financial matters private.
Allowing for seamless management of your assets if you become incapacitated. It can also simplify asset distribution to beneficiaries after your death.
How often should I update my estate plan?
You should review and update your estate plan after major life events, such as marriage, divorce, having children, or a significant change in assets. Experts recommend revisiting your plan every 3 to 5 years to ensure it still aligns with your goals.
Can I name a guardian for my children in my estate plan?
Yes, one of the key purposes of a will is to name a guardian for minor children. This ensures your children’s care is handled by someone you trust in the event of your passing.
What happens if I die without a will in Kansas?
If you die without a will, your estate is considered "intestate." Kansas laws will determine how your assets are distributed, typically favoring spouses, children, or other close relatives. This may not reflect your personal wishes, so having a will is essential.
Can I leave specific instructions for healthcare in my estate plan?
Yes, you can include an advance healthcare directive or a living will. This document outlines your medical treatment preferences in case you are unable to communicate them yourself, such as resuscitation or life-support decisions.
Why Choose Addair Law for Your Manhattan Estate Planning Needs?
At Addair Law, we understand that navigating the complexities of elder law can be overwhelming. Our dedicated team of Manhattan estate planning lawyers is committed to providing personalized legal services tailored to your unique situation.
Here’s why you should choose us:
Expertise in Elder Law: Our attorneys specialize in elder law, ensuring you receive knowledgeable guidance on issues such as long-term care planning, guardianship, and Medicaid eligibility.
Compassionate Approach: We recognize that elder law matters often involve sensitive family dynamics. Our compassionate approach ensures that you feel supported and understood throughout the legal process.
Comprehensive Services: From wills and trusts to power of attorney and healthcare directives, we offer a full range of services to protect your loved ones and your assets.
Community Focus: As a local law firm, we are deeply invested in the Manhattan community. We take pride in serving our neighbors and contributing to the well-being of our community.
Free Initial Consultation: We offer a complimentary consultation to discuss your needs and explore how we can assist you without any obligation.
Choosing the right legal representation is crucial for your peace of mind.
Our services include, but are not limited to the following:
Trusts and Estate Administration
A well-structured estate administration plan often uses trusts to protect your assets, minimize taxes, and allow beneficiaries to receive an inheritance as you intended. Trust administration involves overseeing assets, distributing them to beneficiaries, and ensuring compliance with legal requirements. The process can be complex, and our experienced lawyers know to how to develop and manage your estate in a way that will protect and honor your legacy.
Wills and Probate
Creating a will is important for ensuring your property is distributed according to your wishes after your passing. This legal document outlines how assets like cash, real estate, or personal items should be handled.
Probate is the legal process of distributing a decedent’s assets through a Probate Court, and getting all debts, taxes, and disputes resolved before heirs receive their inheritance. Key steps include filing a petition, notifying heirs and creditors, inventorying and appraising the estate, and distributing the remaining assets as designated in a will or per Kansas intestacy laws.
Conservatorship and Guardianship
A conservatorship allows a trusted individual or entity to manage the financial affairs of someone unable to handle them independently, such as minors or incapacitated adults. Appointing a conservator requires filing a court petition and providing evidence, often through medical evaluations, to demonstrate the necessity. We can help you do what’s necessary to protect your loved one’s future.
Guardianship provides for the care and well-being of minors or incapacitated adults when they cannot manage on their own. It grants legal authority to make decisions regarding education, healthcare, and daily living.
Elder Law
Elder law focuses on providing legal and financial security for elderly individuals as they prepare for the later stages of life. This includes creating healthcare directives that outline medical preferences in case of incapacity, assigning power of attorney, managing financial assets, and facilitating the proper distribution of estates.
By addressing these matters early, seniors can maintain control over their affairs and protect their well-being and peace of mind. Long-term care planning can also account for Medicaid eligibility and employ strategies to protect your assets while securing necessary benefits
Business Succession
A clear succession plan allows for the smooth transfer of ownership. Without proper planning, beneficiaries may face challenges managing the business, potentially jeopardizing its success. Our business succession lawyers can play a vital role in valuing assets, addressing tax obligations, and designing efficient leadership transitions.
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Addair Law has attorneys who work exclusively in estate planning. This level of focus allows them to master the small details that can make such a big difference in both the development and the implementation of a good estate plan. We’ve been serving clients throughout Riley, Clay, Saline, Shawnee, and Wabaunsee counties since 2005. Our lawyers have seen a lot of different situations and they understand the right way to go about addressing them and protecting your interests.
Call Our Manhattan Estate Planning Lawyers Today
We serve both English-speaking and Spanish-speaking clients, and we also regularly work with military families through Fort Riley and elsewhere. We understand the unique issues that arise for military families when creating their estate plans.
Whatever your life situation and whatever your hopes for your legacy, we’re here to help. Call (785) 645-2732 today.
