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Dorsch Law Firm

Recent Activity

New Outlook on the “Trust Fund Baby” - especially in Overland Park, KS.

I forgot yo mention yesterday that I finially got back on-line. Yea! Many wealthy people worry about the potentially corrosive effect of making their children superrich. Not Larry Ellison. The Oracle founder and CEO, the third richest man in the United States — worth $43 billion, according to FORBES’ latest... Continue reading

Posted 14 hours ago at Overland Park Attorney

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Have You Considered a Conservation Easement for Your Land? Especially in Overland Park, KS?

When you make a charitable contribution of anything other than money or marketable securities, there will always be a valuation issue. At least, it will usually be clear what it is that you are giving away. A conservation easement is different. You are keeping the property as it is and... Continue reading

Posted yesterday at Overland Park Attorney

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Charitable Giving or Elder Abuse? Uncertainties of a Late Heiress’s Last Years - in Overland Park, KS

Admitted in 1991, Mrs. Clark ended up staying until her death, giving the hospital at least $4 million in donations, not counting millions more she paid just to live there and a $1 million bequest in her final, contested will, according to court papers. Charitable giving in the last years... Continue reading

Posted 4 days ago at Overland Park Attorney

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Love Knows No Boundaries … Except When it Comes to Estate & Tax Laws - even in Overland Park, KS

The number of cross-border marriages, where spouses hail from different countries, is rapidly rising—and so are their international tax and estate-planning issues. Love knows no boundaries. We are all familiar with this phrase, but how true can it be? Not so accurate when it comes to marriage among couples with... Continue reading

Posted 6 days ago at Overland Park Attorney

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And the Business Goes to …the Employees? Even in Overland Park,KS

I am sorry -- I am having a number of computer/internet problems. I will make every effort to post something on Wednesday. Again, sorry. Continue reading

Posted Jun 11, 2013 at Overland Park Attorney

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Don’t Hold Off on Having Those Hard “Talks” … Or It Will Cost You - esdpecially in Overland Park, KS

If you haven’t had a conversation with your parents about handling their financial affairs after they die, Krysten Crawford’s tale may spring you into action. Certain “talks” or conversations are imperative, although some of those discussions are pretty difficult to have. And talking to your elderly loves ones about their... Continue reading

Posted Jun 10, 2013 at Overland Park Attorney

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Weekly Blog Digest -Overland Park, KS - Estate Planning

In review, here are the five Blog Posts from this past week for your convenience. I welcome your feed back regarding any of these posts and your input regarding any of these areas of practice which you would like for me to address. Dodging the Family Feud over Your Estate... Continue reading

Posted Jun 8, 2013 at Overland Park Attorney

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Lessons from an Asset Protection “Game” Gone Wrong - even in Overland Park, KS

By 2007, as the real estate markets were starting to sink, Donald and one of his business partners, Robert Terhune (Robert), began to worry about certain of their real estate projects and their commitments to each other. When Robert threatened to set up an asset protection trust to stiff Donald,... Continue reading

Posted Jun 7, 2013 at Overland Park Attorney

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The Family Farm: Tractors, Cows …and Estate Plans? In Overland Park, KS?

The "graying tsunami" in rural America means that more farmers are being forced to decide what happens to their farm once they retire or die. If they decide not to sell the business, the farmer must decide how to divide up the operation among the remaining relatives, many of whom... Continue reading

Posted Jun 6, 2013 at Overland Park Attorney

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Time for a Review? Make Sure Your Estate Plan is Up to Date - especially in Overland Park, KS

Circumstances change over the course of a lifetime—and your documents need to keep pace. Grandchildren enter the picture, as do second spouses and sons-in-law. Estate and gift tax exclusion limits move up and down. When you create your estate plan, it is important that you recognize estate planning as a... Continue reading

Posted Jun 5, 2013 at Overland Park Attorney

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Mind Your Words with End-of-Life Health Care Planning - Especially in Overland Park, KS

Would [family members] be more likely to consent to or decline CPR depending on whether the medical order was “do not resuscitate” versus “allow natural death”? What’s in a word? When it comes to making specific plans for your end-of-life health care decisions, a word can make all the difference.... Continue reading

Posted Jun 4, 2013 at Overland Park Attorney

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Dodging the Family Feud over Your Estate - Even in Overland Park, KS

Unfortunately, estate planning can cause family feuds over inheritance, often leading to litigation that can become lengthy and costly with no clear winner. From our experience, family litigation occurs not from a lack of trying to solve the issue, but from a lack of planning. Planning for your estate translates... Continue reading

Posted Jun 3, 2013 at Overland Park Attorney

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Weekly Blog Digest - Overland Park, KS - Estate Planning

In review, here are the five Blog Posts from this past week for your convenience. I welcome your feed back regarding any of these posts and your input regarding any of these areas of practice which you would like for me to address. Tax Savvy Financial Tools in the Form... Continue reading

Posted Jun 1, 2013 at Overland Park Attorney

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Can a Promissory Note Help You Qualify for Medicaid? - Even in Overland Park, KS?

Promissory notes can be a valuable tool in Medicaid planning, as illustrated by a recent federal district court case. When it comes to ensuring proper care for your elderly loved ones, Medicaid can mean a world of difference … especially when your loved ones are running out of assets. So... Continue reading

Posted May 31, 2013 at Overland Park Attorney

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Time for a Family Meeting Regarding Your Elderly Loved Ones? Good or Bad, It’s a Must! Especially in Overland Park, KS

People are calling "family meetings" nowadays not only to deal with their parents' health issues but increasingly to sort out their finances as well. No communication is bad communication. So regardless of how hard certain “talks” can be, there are some that you don’t want to ignore. And when you... Continue reading

Posted May 30, 2013 at Overland Park Attorney

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Estate Planning Does Not End at the “Unified Credit” - also in Overland Park, KS

This post concerns potential estate tax saving from establishing a separate revocable trust for each spouse and dividing the marital estate between the two trusts. What is a “unified credit” and how does it affect your estate plans? Forbes recently shed some light on this topic and the tax benefits... Continue reading

Posted May 29, 2013 at Overland Park Attorney

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Collecting Social Security Benefits From Your Ex-Spouse - even in Overland Park, KS

Robin Brewton, who advises clients on Social Security benefit strategies, has boosted retirees' financial security with a single question: Are you divorced? There are several new challenges today’s retiring generation is facing, with the volatility of Congress and the uptick of healthcare costs. You can also add “divorce” to those... Continue reading

Posted May 28, 2013 at Overland Park Attorney

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Tax Savvy Financial Tools in the Form of Life Insurance and Annuities - even in Overland Park, KS

HAPPY MEMORIAL DAY!! “Oftentimes these products are sold based on the moment in time,” said Richard Coppa, managing director of Wealth Health, a financial advisory firm. “A couple of years ago, they were sold on guaranteed returns of 6 or 7 percent because people were so fearful. Today, it’s uncertainty... Continue reading

Posted May 27, 2013 at Overland Park Attorney

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Weekly Blog Digest - Overland Park, KS - Estate Planning

In review, here are the five Blog Posts from this past week for your convenience. I welcome your feed back regarding any of these posts and your input regarding any of these areas of practice which you would like for me to address. Beware! Pay Attention to Your State Death... Continue reading

Posted May 25, 2013 at Overland Park Attorney

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An Inherited IRA Still Requires an RMD - even in Overland Park, KS

John and Sue were both 75 years old last year. They both took their RMDs for the year. John died early in December. Sue was his beneficiary. She rolled his IRA into her own IRA in January. The question was – “What is Sue’s RMD for this year?" The different... Continue reading

Posted May 24, 2013 at Overland Park Attorney

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Survey Says Start “The Talk” with Mom - even in Overland Park, KS

“To the extent that there is a disconnect between parents and their grown children on these financial topics, our data show that families can look to mom to help bridge that gap,” says Lauren Brouhard, senior vice president of retirement in Fidelity’s Personal Investing unit. Oh the dreaded “talk.” Where... Continue reading

Posted May 23, 2013 at Overland Park Attorney

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Be Your Own Bookkeeper When Caring for Elderly Parents - even in Overland Park, KS

There was no contract, no invoice, and no evidence the family agreed to pay him anything. Sure, Anthony gave round-the-clock care. The family would have hired round-the-clock nurses if he hadn’t been there. If you find yourself taking on the responsibility of a caretaker to your elderly parents, are you... Continue reading

Posted May 22, 2013 at Overland Park Attorney

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Hospice Still Waiting on Help from Medicare - even in Overland Park, KS

"The effect is very negative for end-of-life care in the country. The way hospice is designed now may have worked fine 30 years ago, but it doesn’t work now and we need to think about alternatives." U.S. health care has been in flux since 2010, with many aspects of health... Continue reading

Posted May 21, 2013 at Overland Park Attorney

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Beware! Pay Attention to Your State Death Taxes - even in Overland Park, KS

Even if death and taxes are the only things certain in life, state legislators say they can never be certain about death taxes. The fiscal cliff-bridging budget set and made “permanent” the estate tax at a generous $5.25 million exemption amount. Good news, right? But beware! There are still some... Continue reading

Posted May 20, 2013 at Overland Park Attorney

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Weekly Blog Digest - Overland Park, KS - Estate Planning

In review, here are the five Blog Posts from this past week for your convenience. I welcome your feed back regarding any of these posts and your input regarding any of these areas of practice which you would like for me to address. Can You Transfer IRA Funds to Charity?... Continue reading

Posted May 18, 2013 at Overland Park Attorney

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