Avoiding Probate And Planning For Taxes And Incapacity

The advice of a reputable estate and trust attorney can help you determine whether a will or trust best fits your needs. In Overland Park, Kansas, the Vancrum Law Firm LLC provides outstanding estate planning services, including trust creation and administration. We offer more than 35 years of experience in these complex legal matters.

Why Establish A Trust

The most common reasons people choose to create trusts is to reduce taxes or to avoid probate. Unlike a will, a trust allows your property to go directly to your chosen beneficiaries without passing through costly and time-consuming probate. Trusts can also be set up to avoid estate taxes, save income taxes and protect assets from creditors. A trust can be created to cover all phases of your life — while you are alive and well, if you become incapacitated or seriously ill and after your death.

In short, there are many types of trusts, each carrying its own specific set of rules.

  • Qualified personal residence trusts
  • Grantor retained annuity trusts
  • Asset protection trusts
  • Grandchildren's educational trusts

In addition to designating beneficiaries, you must also name a trustee and perhaps successor trustees. This designated trustee needs to understand the rules and responsibilities of managing the trust. Our firm's founding attorney, Robert Vancrum, is highly qualified to guide you in making the best decision when choosing a trustee for this important role. He is also adept at helping trustees ensure that they follow the rules.

Specialized Tax Knowledge In Kansas City

Trusts involve both legal and financial issues. Other trust attorneys might need to consult with tax experts and financial planners, but Robert has an advanced law degree in taxation and comprehensive knowledge of the relevant tax implications.

Our team at the Vancrum Law Firm LLC is here to protect and ensure the financial future of your estate. We can help you create a new trust to minimize or avoid probate and other taxation consequences, or protect an established trust through careful administration.

Learn How You Can Safeguard Your Future

Call us at 913-948-9400 or contact the Vancrum Law Firm LLC online. For your convenience, we can schedule an evening or weekend appointment if needed. We look forward to meeting you and offering you peace of mind.