The Grandparent Scam: A Holiday Warning for FamiliesThis is my favorite time of year. As temperatures drop and spirits rise, the holiday season brings gatherings with loved ones, shared traditions, and moments of gratitude. But as we count down to year-end, it’s also an important time to remind ourselves—and the people we care about—of a less pleasant holiday reality: scams.Scams surge during the holidays and come in many forms, from fake charities and debt collection schemes to imposter … [Read more...] about The Grandparent Scam: A Holiday Warning for Families
Estate Planning
Don’t Be a Turkey (or a Ham): Take Advantage of the Annual Gift Tax Exclusion
The holidays are a time for family, generosity, and—let’s be honest—more food than we probably need. But this season also presents a powerful opportunity to give in a way that benefits both your loved ones and your long-term estate plan.One of the simplest and most effective estate planning tools available is the annual gift tax exclusion, sometimes called the annual per donee exclusion. Used correctly, it allows you to move significant wealth out of your taxable estate—completely … [Read more...] about Don’t Be a Turkey (or a Ham): Take Advantage of the Annual Gift Tax Exclusion
Why Estate Planning Needs More Than Boilerplate Language
Since 2020, Estate Planning attorneys nationwide have seen a dramatic and lasting increase in demand. What began as a pandemic-driven surge quickly turned into a long-term trend. New clients are creating plans, long-time clients are updating old documents, and families are asking for more advanced strategies to protect their assets.To keep up, many attorneys have streamlined their workflows—using templates, automation, and faster drafting systems to manage larger caseloads. Efficiency is … [Read more...] about Why Estate Planning Needs More Than Boilerplate Language
Beyond the Will: Why Modern Estate Planning Is About More Than Just Passing Assets On
Most people think of “estate planning” as signing a will, naming who gets what, and calling it a day. But the truth is, a modern estate plan does far more — and failing to keep yours current can cause headaches for the very people you’re trying to protect.At Gaughan & Connealy, we often say: a will divides your stuff; a true estate plan builds your legacy.1. The Old Model No Longer Fits Modern LifeFor generations, estate planning was simple. Most families looked alike, most … [Read more...] about Beyond the Will: Why Modern Estate Planning Is About More Than Just Passing Assets On
Your Estate Plan Isn’t Just for After Life—it’s the Anchor for Your Life Right Now
Most people think “estate planning” is something you do later.After retirement.After the kids are grown.After life slows down.Here’s the truth: your estate plan isn’t just about what happens after you’re gone. It’s about protecting your life, your family, and your peace of mind right now.At Gaughan & Connealy Estate Planning Attorneys here in Overland Park, Kansas, we’ve seen how powerful an up-to-date plan can be — and how risky it is to wait.Why “Now” Matters More Than You … [Read more...] about Your Estate Plan Isn’t Just for After Life—it’s the Anchor for Your Life Right Now
Why You Should Review Your Will or Trust
A well-drafted estate plan is one of the most important steps you can take to protect your family, your assets, and your peace of mind. But creating your will or trust isn’t a “set it and forget it” event. Life changes — and so do the laws that affect your estate.That’s why we recommend reviewing your estate plan every five years (and sooner if you experience major life changes). Here’s why that timeline matters.1. Your life evolves — your plan should, too.Over the course of just a few … [Read more...] about Why You Should Review Your Will or Trust
What Football and Estate Planning Have in Common
I really wanted to watch the Sunday night football game, and I really needed to write this blog, so I thought I’d do both and write a blog about what football and Estate Planning have in common. Turns out it’s more than you think. Both Estate Planning and football focus on strategy, teamwork and preparing for the future. Both require assembling the right team, adapting to changes, and defining clear goals. To reach the desired conclusion, both Estate Planning and football require foresight, … [Read more...] about What Football and Estate Planning Have in Common
Preparing for FinCEN Real Estate Reporting
For years, the Department of the Treasury was concerned that all-cash residential real estate transactions offered an opportunity to launder illicit funds. Bank-financed purchases already fall under lender Anti-Money Laundering (“AML”) obligations, but transfers that bypass institutional financing historically received far less scrutiny. Financial Crimes Enforcement Network (“FinCEN”)’s new residential real estate reporting requirement closes that gap by requiring reporting for … [Read more...] about Preparing for FinCEN Real Estate Reporting
Hulk Hogan and Disclaimers…?
What do “Hulk Hogan” (born Terry Gene Bollea) and Disclaimers have in common? Potentially, Hulk’s daughter, Brooke Hogan (“Brooke”), if sources portray the situation accurately. I recently read an article asserting that Hulk Hogan had his affairs in order and had created a Revocable Trust prior to his death. For the curious, the terms of a Revocable Trust generally do not become public, which means that Hogan’s plan may remain a mystery. That changes if someone initiates a lawsuit. In this … [Read more...] about Hulk Hogan and Disclaimers…?
“Let’s Go Crazy” … Over Prince’s Estate
Earlier this week I was preparing for a seminar and came across an article regarding Prince (born “Prince Rogers Nelson”) which got me “Delirious” over his Estate. A small idea took root and as I researched, I discovered that despite the near decade that has passed since his death, Prince’s Estate remains a “Controversy.” Just this week, his former protegee and co-star in the 1984 film, Purple Rain, Apollonia (Patty Kotero) sued Paisley Park Enterprises, LLC accusing the company of using … [Read more...] about “Let’s Go Crazy” … Over Prince’s Estate
