FREQUENTLY ASKED ESTATE PLANNING QUESTIONS
What is a Will?
A Will is a document that describes how your probate assets will be distributed after your death. For a Will to act on property, it must be filed with the district court in a legal action referred to as a probate proceeding.
What is a Power of Attorney?
A Power of Attorney is a document that allows another person to make decisions for you. These could be medical decisions or decisions regarding your finances. Powers of Attorney are helpful in sitations where a person cannot or does not wish to continue in charge of their own affairs.
What is a Transfer on Death Deed?
A Transfer on Death Deed is a document that is filed with the register of deeds office that transfers real property upon a person's death to the persons named in the deed. These deeds allow a person to transfer real estate in Kansas without having to go through a probate legal proceeding.
How do Living Trusts or Revocable Trusts work?
Living Trusts or Revocable Trusts are documents that are entered into while a person is alive that describes what happens to that person's property after their death. These trusts allow property to bypass the probate process and to simplify the process of administrating someone's estate.
What are Nonprobate Transfers?
Nonprobate Transfers are ways to transfer property without the use of a Will and court probate proceeding. These include beneficiary designations on certain accounts, life insurance proceeds, transfer on death deeds and the use of certain trusts.
How do I figure our what estate planning I need?
Everyone's needs are different. This is why our office provides free estate planning consultations where we can discuss your situation and future wishes. We then provide a flat fee pricing quote to put your specifically tailored estate plan put into place.