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Category: Estate Planning

Avoiding Probate in Missouri

Probate is a court-supervised legal process that includes validating a will, appointing an executor or administrator of the estate, distributing a deceased individual’s property, and allowing creditors to state their claim to assets.  Going through probate can be stressful, time-consuming, and expensive, but there are many techniques you can use to allow ownership of your property to pass directly to your desired beneficiaries while avoiding probate.

Missouri law states that probate is necessary for estates valued at more than $40,000, and there is a simplified form of probate for estates less than this amount. However, only those assets that are held individually have to go [...]

Three Estate Planning Mistakes Farmers and Ranchers Make and How to Avoid Them

No one likes to contemplate their death, so many farmers and ranchers make the mistake of failing to even make an estate plan. But farming or ranching is more than a means of livelihood – it is about preserving a legacy and unique way of life. Unfortunately, without an estate plan, the farm or ranch that has been passed down for generations ends up being sold and converted into non-agricultural use, cutting the legacy short and ending the family’s unique lifestyle choice.

Farmers and ranchers are not the only ones who avoid making or updating an estate plan – many others, including business owners and parents, also avoid planning, which can cut their legacy short. It is fa [...]

Myths We Tell Ourselves About Estate Planning

Estate planning is something many people keep putting off as no one wants to think about their death. However, having a properly executed estate plan in place offers peace of mind and serves to preserve your property, prevent disputes, provide for your family, address situations should you become incapacitated, and lay out your wishes to make the administration of your estate as simple as possible.

Without a clear will and estate plan, your assets will be distributed according to Missouri intestate succession laws that determine how your assets will be distributed, and the people you wish to inherit assets may not receive them. Instead, your affairs will be sorted out through th [...]

What Happens if You Die without a Will in Missouri?

Creating a will and estate plan is often one of those things we put off, thinking we’ll get to it tomorrow, or next week, or before the end of the year.  But what happens if you die unexpectedly without a will in Missouri?  None of us wants to think about that, but we should.

Creating a will and an estate plan now means that we are caring for our loved ones by preventing a lot of headaches for them in the future.  Having a will and estate plan in place offers peace of mind and serves to preserve your property, prevent disputes, provide for your family, and lay out your wishes to make the administration of your estate as simple as possible.

Without a clear will, yo [...]

What is an Irrevocable Living Trust

Irrevocable living trusts can be an important component of estate plans, as they can protect assets and save tax money . . . but they are not for everyone. Before creating an irrevocable trust, you should understand what they are and take into consideration your individual family and estate situation.  A consultation with a Missouri estate planning attorney can help you understand irrevocable trusts, decide whether one is right for you, and make sure it is drafted correctly so it is legally airtight and will not be challenged.

What are Irrevocable Trusts?

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Wills and Trusts, What’s the Difference?

Wills and trusts are important items to have in an estate plan, as they help ensure your assets are protected, your family is provided for, and your end-of-life wishes are honored should you become incapacitated. Both are estate planning documents that meet the requirements of Missouri law to preserve your property, provide for your family, and lay out your wishes to make the administration of your estate as simple as possible and prevent disputes, but there are differences between them.

Without a clear estate plan, your assets will be distributed according to Missouri law, which means the people you wish to inherit assets may not receive them. Estate planning allows you to util [...]

What Are Advance Directives?

What would happen if you become so severely ill or incapacitated that you are unable to communicate about the medical treatment you do or do not wish to receive? While no one wants to think about being in such a situation, the unexpected can happen at any time, and it is far better to have planned for catastrophic events than to rely on someone else to make difficult medical decisions for you, such as whether you want to be resuscitated when there is no hope of recovery.

Advance directives are written legal documents that allow you to state your wishes as to your medical treatment and the people you want to make medical decisions for you if you are unable to do so on your own. [...]

When should you start Estate Planning?

Many people put off estate planning, thinking that it is something only older people should do when they retire and their kids are grown. But, unfortunately, unexpected tragedy can strike at any age, leaving your loved ones in a terrible situation, unsure of what you would want them to do and where your assets should go, and costing time and money. For example, if you pass away without a plan in place, Missouri’s intestacy laws will decide who gets your belongings and only after going through the long and costly probate process. If you haven’t stated your wishes in writing, someone you don’t want to may wind up making medical decisions for you that you do not agree with.

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Guide to Estate Planning in Missouri

Estate planning is something far too many people put off, but this is a mistake. It is far better to handle these matters now, when you are of sound mind and able to do so, to ensure your assets are protected, your family is provided for, and your end-of-life wishes are honored. It is not enough to simply tell others how you want your assets to be distributed, your children to be cared for, or how you want to be treated if you become incapacitated. In the case of your death or serious illness, it is essential to have formal estate planning documents that meet the requirements of Missouri law to preserve your property, provide for your family, and to lay out your wishes to make the adminis [...]

How To Create a Living Will in Missouri

Imagine that you are dying and being forced to suffer painful and unnecessary medical procedures because you are unable to communicate and stop them from happening. While no one want to contemplate becoming incapacitated or dying, doing proper planning now, while you are of sound mind and able to make good decisions, can prevent major problems should something serious happen to you in the future.

One of the most important ways to prevent such problems is by making a living will, or advance health care directive, which ensures your wishes are honored in the event of serious illness or incapacity. In Missouri, creating a living will involves stating your medical treatment preferen [...]

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