Will Your Estate Be Distributed The Way You Want?

We all have reasons for procrastinating when it comes to estate planning. However, before you put this important life decision back on the shelf again, you might want to know a few of the things that can happen to your money and possessions upon your death if you haven’t planned. These Kansas probate rules may encourage you to move just a little quicker to finish or update your estate planning.

Did you know?

• Kansas probate law states that if you are married and die without a will, your spouse may not inherit all of your property? If you have children, regardless of their age, your spouse is limited to receiving only one-half (1/2) of your solely owned estate property and your children will split the remaining one-half (1/2). This is also true even if your children are minors. If this is not what you want to have happen upon your death, you need to set up beneficiary designations or have a Last Will and Testament or Trust immediately prepared for you that clearly states your wishes.
• If you and your spouse are living separately but you are not legally divorced, upon your death, your spouse may still receive the same estate share as described above. Even if you sign a Last Will and Testament attempting to completely disinherit your spouse from your estate, if your spouse has not consented to that document, then unless you have a divorce decree or other written, legally binding agreement, by law your spouse will be entitled to a certain percentage of your estate depending on the number of years you were married before your death and the value of your aggregate estate. Your spouse is also entitled to your homestead.
• If your spouse predeceased you and you had no children and you didn’t update your Last Will and Testament to name a new beneficiary of your estate after your spouse died, when you die your entire estate will pass to your parents. If your parents are still living, this inheritance could present a taxation problem for them depending on the size of their estate and what they would inherit from you. If your parents have been trying to reduce their own estate value to avoid unnecessary estate taxes, this new inheritance may create a taxable estate for them. Additionally, if you have a parent who is in the nursing home and receiving state aid, then your estate may be claimed by Medicaid. If your parents are no longer living, your estate will be divided among your living siblings. If you prefer that other beneficiaries benefit from your estate, you should put planning in place now.

​These are just a few of the Kansas probate laws that control what happens to your money and property after your death. If you have questions about probate or estate planning matters, contact Davis & McCann, P.A., Dodge City, Kansas at 620-225-1674. We are members of Wealth Counsel, a national consortium of Estate Planning Attorneys and the National Academy of Elder Law Attorneys (NAELA). We focus our practice on providing clients with the best legal advice on Estate Planning, Medicaid and Long-term Care Planning, Special Needs Planning, Family Business/Small Business Succession Planning, Probate, Trust Administration, Real Estate, 1031 Exchanges, and related matters.

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