Overland Park Estate Planning Attorneys

Assisting Clients With Estate Planning Matters in Kansas & Missouri

Gates Shields can help you draft an estate plan and navigate the complexities of probate. Our firm provides focused legal representation in these important areas and has established itself as a long-standing presence in the Kansas City area. With over 260 combined years of legal experience, our Overland Park estate planning attorneys are poised to offer you the trusted and reliable counsel you need to create a comprehensive estate plan or help you achieve your goals in probate.

Contact our Overland Park estate planning and probate attorney at (800) 574-4428 to discuss your legal needs. Your initial consultation is free.

Our Estate Planning Services

Proper estate planning will ensure that your assets and property are handled according to your wishes at the end of your life. Regardless of your financial condition, you likely have an estate consisting of real estate and business holdings as well as various other assets, debts, and personal property.

An estate plan allows you to set up legal instructions as to how your estate will be distributed to your heirs and beneficiaries. It can also provide instructions for who should oversee your estate, how to handle the care of minor children, dependents with special needs, and/or pets, how your end-of-life medical care should be administered, and more. A comprehensive and legally binding estate plan can help eliminate or reduce taxes and the time and expense of probate.

Important estate planning tools we can help you with include:

• Last Wills and Testaments
• Living Trusts
• Living Wills
• Powers of Attorney
• Trust Administration
• Probate Litigation
• Conservatorships

What to Include in Your Estate Plan?

Here are the essential elements to consider:

• Last Will and Testament: Your will is the foundation of your estate plan. It summarizes how you want your assets distributed after your death and designates an executor to manage the process. Without a will, the state determines how your assets are allocated, which may not align with your wishes.
• Trusts: Trusts can be an effective way to handle your assets during your lifetime and beyond. They can help avoid probate, reduce estate taxes, and provide for minor children or beneficiaries with special needs. Different types of trusts, like revocable living trusts, irrevocable trusts, and testamentary trusts, serve various purposes depending on your goals.
• Powers of Attorney: A power of attorney allows you to designate someone to make financial decisions on your behalf if you become incapacitated. This document ensures your financial matters are handled according to your wishes without needing court intervention.
• Healthcare Directives: Healthcare directives, which includes a living will and a healthcare power of attorney, specify your medical treatment preferences and designate someone to make healthcare decisions for you if you are incapable to do so. This is crucial for ensuring your wishes regarding end-of-life care and other medical decisions are honored.
• Beneficiary Designations: Review and update beneficiary designations on financial accounts, insurance policies, and retirement plans. These designations override what is expressed in your will and should be aligned with your overall estate plan to prevent confusion or disputes.
• Digital Assets: It is important to consider your online presence in your estate plan. Digital assets, like social media accounts, online banking, and cryptocurrency, should be addressed to ensure your wishes are honored and your digital legacy is managed appropriately.
• Letter of Intent: Although not a legal document, a letter of intent can accompany your will and provide additional guidance for your executor. It can include details about your funeral preferences, messages for loved ones, and instructions for managing specific assets.

When Should I Update My Estate Plan?

Consider the following situations when updating your estate plan:

• Life Events: Major life changes, like marriage, divorce, the birth of a child, or the death of a loved one, could significantly impact your estate plan. Each of these events may necessitate changes to your will, trust, or beneficiary designations to reflect your current situation and intentions.
• Changes in Financial Status: A significant change in your financial circumstances, like receiving an inheritance, selling a business, or experiencing a substantial increase or decrease in revenue, should prompt a review of your estate plan. Adjusting your plan to accommodate these changes can help ensure your assets are addressed according to your current financial goals.
• Changes in Laws: Estate planning laws can evolve, and staying informed about any changes that could affect your estate plan is essential. Tax laws, probate procedures, and regulations regarding trusts and estates can change, potentially impacting the effectiveness of your existing plan.
• Relocation: If you move to a different state, your estate plan may be subject to new laws and regulations. It is crucial to review and possibly update your estate plan to ensure it complies with the laws of your new residence.
• Health Changes: If you experience consequential health changes, such as a serious illness or injury, it may be time to revisit your healthcare directives and powers of attorney. Ensuring that your medical preferences are clearly articulated and that your designated agents are still suitable can provide peace of mind.

Contact Our Estate Planning Lawyers in Overland Park Today

After a family member has passed away, his or her estate may be subject to probate, which often involves court proceedings. Should your loved one have passed without a will, the probate process can become complex, time-consuming, and often expensive. Even with a will present, an estate may require probate.

Gates Shields can provide the knowledge and guidance you need to navigate this often-complicated matter and ensure that your family member’s assets are distributed properly. We handle estates of all sizes and complexity. Our Overland Park probate lawyers can address will contests, guardianships, conservatorships, title affidavits, probate litigation, and more.

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Reach out to us at (800) 574-4428 today to speak with our Overland Park estate planning attorney.