The Benefits of Like-Kind Exchanges

posted on Thursday, June 4th, 2020

Normally, when you sell real estate for more than you paid for it, you pay tax on the gain at the time of sale, even if you plan on reinvesting the proceeds in another property.  The payment of tax on …

Read More

What You Need to Know About LLCs

posted on Friday, May 10th, 2019

New business ventures can be structured in many different forms, including as a sole proprietorship, partnership, or corporations. With that being said, limited liability companies (“LLCs”) have become one of the most common forms in Kansas. An LLC can limit …

Read More

Ancillary Administrations

posted on Friday, November 9th, 2018

When an out-of-state individual dies owning Kansas real estate, Kansas probate proceedings are necessary to transfer the real estate. Depending on the facts and circumstances involving the assets, beneficiaries, and planning, the necessary probate proceedings may take a number of …

Read More

Goals of Estate Planning

posted on Friday, April 27th, 2018

Estate planning is the process of planning for the eventual distribution of assets upon death. Although there are many different reasons to plan an estate, the following general goals are applicable to everyone: People want to give what they want. …

Read More

Significant Changes of the 2017 Tax Reform

posted on Thursday, March 15th, 2018

Major tax reform legislation was signed into law at the end of 2017 and resulted in sweeping changes to the tax code for both individuals and businesses. The legislation impacts not only federal income taxes but also the estate, gift, …

Read More

How Do You Pay for Long-Term Care?

posted on Thursday, September 28th, 2017

We are all likely to need some type of long-term care services during our lifetimes. With proper planning, the lawyers at Clark, Mize & Linville, Chartered, in Salina, Kansas, can help you utilize strategies such as irrevocable trusts, gifting, converting countable …

Read More