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Tips and Advice on Estate Planning for Blended Families

When couples get together and blend their families, that often includes children from previous marriages or relationships.  This can bring great joy, but it also can bring conflicts and complications due to the various relationships, obligations, and financial considerations involved. As long as everyone is well and gets along, things may go smoothly; but how do you make sure every member of the family is treated fairly and taken care of if one spouse dies and issues arise?

The answer is to make sure you do proper estate planning now, while your mind is clear and you are able to do so. Estate planning can be complicated even for simple families, but when remarriages and new rel [...]

How Do You Declare a Business Bankruptcy?

Whether due to declining sales, increased business competition, or difficult economic headwinds, unforeseen circumstances can leave business owners struggling with mounting and unmanageable debt. Creditors may be calling, and banks are pressuring you to repay loans. If this sounds like your situation, it may be time to declare a business bankruptcy. Rather than being a discouraging end to your business, bankruptcy can actually provide a fresh start for you and your family. Whether you dissolve the business altogether or simply restructure its debt, there are multiple bankruptcy options to explore, and an experienced

What is a Discretionary Trust?

Sometimes giving money or assets outright to a beneficiary – such as a child, a grandchild, or a special need loved one – is not ideal for distributing your wealth in an estate plan.

When setting up a trust, using a discretionary trust provides peace of mind because of the protections this type of trust provides to your loved ones who may not have the skills required to safeguard the assets you give to them.

So, what is a discretionary trust? A discretionary trust, also referred to as a discretionary support trust, is a type of trust set up for the benefit of one or more beneficiaries where the trustee has discretion over how to distribute the trust assets among th [...]

How Child Support is Calculated in Missouri?

For divorcing parents with children, how child support is calculated in Missouri is a major concern. The goal of the child support system is to allow the children to live according to the same standards they would have if the parents were still together, while ensuring that both parents provide a fair share according to their capabilities.  With this in mind, the courts consider many factors when calculating child support, through using the Child Support Amount Calculation Sheet, commonly known as Form 14, as well as by taking into account each family’s unique needs.

Navigating Form 14 can be complicated, and making mistakes can result in one party’s paying too much or rece [...]

How To Establish a Corporate Veil

The last thing a business owner wants is to wind up being personally sued in a lawsuit for problems that arise in the business. To protect yourself from personal liability, it is essential to set up a corporate veil. The corporate veil is the legal term used to describe the separation between the assets of a legal entity and the personal assets of shareholders, directors, and officers. The corporate veil provides liability protection for business owners by protecting their personal property from being used to satisfy judgments or business liabilities. 

However, some ways of setting up a corporate veil provide more protection than others, and the corporate structure you c [...]

How Long Do You Have to Sue After an Accident?

Thousands of people are involved in vehicle accidents every year in Missouri, and a crash can result in major property damage, devastating injuries, and even death. Survivors of serious accidents may be left dealing with long-term pain and suffering and mounting medical and household bills at a time they may be unable to work. 

Financial losses can easily exceed the limits of a car insurance policy, but an experienced car accident lawyer may be able to get you full compensation through a personal injury lawsuit. While no amount of money can make up for the trauma, pain, and suffering you are going through, a monetary award [...]

How Are Assets Divided in a Divorce in Missouri?

  • June 23, 2023
  • Kelvin Birk
  • Divorce

Missouri is an equitable distribution state, which means that your assets, as well as your property and debts, will be divided in what the court considers a fair and equitable manner. This may not be equally, however, because there are many issues to consider when determining what is equitable. If you or a loved one is facing a divorce and worried about how your assets will be divided, an experienced family law attorney can help clarify the issues and fight for the best settlement possible.

How Are Assets Divided in a Divorce in Missouri?

Depending on your individual situation, there are many assets that may need to be valued and divided in a divorce, including:

[...]

How Often Do Car Accident Cases Go to Court?

If you have recently been in a car accident, you know the serious injuries and financial hardships that can occur. Negligent drivers cause thousands of car accidents each year in Missouri. When you are hurt, you can file a personal injury lawsuit to seek compensation. To win compensation, you may be able to settle out of court with the responsible parties or you may have to go to court to prove your case.

So the important question is: How often do car accident cases go to court? The answer may be less than you think. Each case is different, but many may be settled out [...]

Can You Sue an Uninsured Driver?

A Missouri car accident is traumatic enough; discovering that the responsible driver is uninsured is frustrating. However, pursuing legal action against an uninsured driver is possible, even though it can sometimes be challenging. Our Missouri car accident lawyer can help you better understand your options for seeking compensation for your unexpected and unfair damages.

Missouri Uninsured Motorist Coverage

State law requires all motor vehicle drivers and owners to carry uninsured motorist coverage. The co [...]

How far back can the IRS go for unfiled taxes

  • July 25, 2022
  • Kelvin Birk
  • Tax Law

We know that if you have ever failed to file a tax return, you may be concerned that the IRS will catch up with you. But how long should this be a genuine concern for you? Common questions our clients ask us include 1) How far back can the IRS go for unfiled taxes? 2) How many years does the IRS go back to collect on unfiled tax returns? 3) Can you go to jail for unfiled taxes?

We answer and thoroughly explain each of these questions and more below.

How Far Back Can the IRS Go for Unfiled Taxes?

We understand that discussing delinquent tax returns can be uncomfortable. The amount of back taxes you can owe may rise significantly after the IRS adds interest a [...]

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