Overland Park, Kansas –Blogs - Jerry Bell - The Bell Law Firm, P.A. Attorney Lawyer Law Firm

When Does My LLC Need an Operating Agreement?

Oct 31, 2019 | Business Planning

The Limited Liability Company (LLC) is one of the more common forms of business ownership for small business owners. LLCs offer flexibility, can provide asset protection, and in some cases, might provide tax advantages for a small business owner. LLCs can also use...

Dementia Trends Confirm Growing Need for Long-Term Care Planning

Oct 16, 2019 | Long-Term Care Planning

Dementia trends confirm growing need to include long-term care planning into their overall estate planning process.

Special Needs Trusts and ABLE Accounts: Why You Probably Need Both

Oct 2, 2019 | Special Needs Planning

There has been a lot of excitement over the development of ABLE accounts recently. While ABLE accounts can be helpful planning tools for people with disabilities, they are certainly not a replacement for Special Needs Trusts. We'll briefly look at why that is later,...

What Is a Power of Attorney and Why Might I Need One?

Sep 17, 2019 | Estate Planning, Long-Term Care Planning

Powers of Attorney are an important tool for anyone over the age of 18; they specify powers for the Agent to navigate difficult times when you can’t make your own decisions.

Prepaid Debit Cards for SNT Beneficiaries

Aug 15, 2019 | Special Needs Planning

Prepaid Debit Cards Enable Special Needs Trust (SNT) Beneficiaries to Quickly and Independently Make Purchases More and more, trustees of SNTs are relying on “administrator-managed prepaid debit cards” when disbursing funds to beneficiaries. True Link is a...

If I Go on Medicaid Will I Lose My House?

Jul 31, 2019 | Long-Term Care Planning

Many people are afraid of losing their home if they have to enter a nursing home and apply for Medicaid to cover the extreme expense. While this fear is well-founded -- the average cost of a nursing home in Kansas City Metro is about $5,000-$7,000+ per month --...

What Happens After I Die If I Have a Revocable Trust?

Jul 16, 2019 | Probate/Trust Administration

Revocable trusts are often promoted with an "Avoid Probate" slogan. They are supposed to make things easier for your descendants to manage after your death. This is certainly true most of the time, but what really happens after you die? And how can you make it even...