How to Fund Your Revocable Trust

Trusts are an essential part of an estate plan because they can protect your assets from estate taxes, probate costs, creditor claims, and beneficiaries who may not manage their inheritance wisely.  There are two primary types of trusts - revocable and irrevocable.  For a revocable living trust, you maintain legal ownership and control of all assets. With an irrevocable trust, ownership of all property is Read More

Digital Assets and Estate Planning

When most people think about estate planning, they consider their physical assets—their home, antiques, valuable jewelry, stocks, and cash. Today, a recent type of personal property is expanding and creating valuable assets for older baby boomers and for Millennials and Generation Z.  The new type of property is called digital assets. Defining Digital Assets If an asset is online and you own it or own access to it, Read More

Missouri Probate Explained

If you recently experienced a death in the family, it is important to understand probate’s legal proceedings. Probate is a court process ensuring the payments of debts, asset collection, and asset distributions to heirs or beneficiaries upon a loved one’s death.  An estate is submitted to probate when a person dies with a will and dies intestate, without a will. If a will exists, it must be filed with the Probate Read More

Special Needs Trusts Simplified

When you have a child or another family member with special needs, you have to take extra care while planning your estate. Although estate planning should always be a personalized process, it’s especially important when the loved one you’re providing for relies on access to state services or government benefits. Main Goals of a Special Needs Trust A special needs trust accomplishes several goals. First, it ensures Read More

Guardianships

As a parent, it is difficult to think of someone who can raise our children in our place. Yet, planning for guardianship of a child is one of the most important decisions a parent can make. If a parent does not have a parent guardianship plan in place, the State has a plan. MO Statute 475.045.1 provides the governing law for appointment of guardianship of a minor: 1. Except in cases where they fail or refuse to give Read More