One of the most important aspects of any estate plan is the creation of a plan for the distribution of your estate assets after you are gone. If you are a grandparent, you may wish to include your grandchildren as beneficiaries in that plan. While gifting to grandchildren in similar to gifting to adult children, there are some unique considerations. To help you plan according, the St. Louis estate planning lawyers at Amen, Gantner & Capriano, Your Estate Matters, LLC offer the following tips … [Read more...]
ABLE Accounts
An ABLE account is a great strategy for someone who became disabled by age 26. An ABLE account may be income tax-free. It has other unique benefits for a disabled person. Read on to learn more about the ABLE account and how it can help. ABLE Accounts … [Read more...]
What Is the Difference between a General and a Limited Power of Attorney?
Given how common they are, you may have already executed a Power of Attorney (POA) and/or been named as the Agent under a POA executed by someone else. Unfortunately, a Power of Attorney is also one of the most frequently abused legal documents. One reason for that is that all too often the person creating the POA does not truly understand the power and authority conveyed in the document. If you plan to incorporate a Power of Attorney into your estate plan, you need to understand the difference … [Read more...]
Nongrantor Trusts Can Be Very Useful in Certain Situations
A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a nongrantor trust and situations in which it might be useful. Nongrantor Trusts Can Be Very Useful in Certain Situations … [Read more...]
Grantor Trusts Provide Flexibility and Ease
A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a grantor trust and situations in which it might be useful. Grantor Trusts Provide Flexibility and Ease … [Read more...]
Selecting an Agent
Choosing the right Agent under a Power of Attorney is one of the most important choices. This article discusses the qualities of an ideal Agent and qualities to avoid in selecting an Agent. Read on to learn more. Selecting an Agent … [Read more...]
Celebrate Older Americans Month this May by Updating Your Estate Plan
Most of us grew up being told to “respect your elders.” Each May, however, the entire country actually celebrates the elders among us with National Older Americans Month. As the older population in the United States continues to grow at a heretofore unheard of rate, issues and concerns that impact seniors have taken on a heightened importance. Whether you are a senior yourself, or you have a loved one who is, take some extra time this May to celebrate and honor all the older Americans among us. … [Read more...]
Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
TOD / POD, beneficiary designations, and joint tenancy can be simple ways to transfer assets at death. However, these simple methods lack some of the benefits of a trust. Read on to learn more. Beneficiary Designations, etc., Aren’t a True Substitute for a Trust … [Read more...]
Is a Family Wealth Trust Only for the Rich?
A trust is among the most popular additions to a well thought out and comprehensive estate plan. If you are contemplating the addition of a trust to your plan, you will need to decide which type of trust best suits your needs. You may have heard of a Family Wealth Trust and thought that’s not the right trust for your plan because you are not wealthy. If so, think again because a Family Wealth Trust is not just for the wealthy. In fact, it might be the perfect trust for your estate plan. Why … [Read more...]
Rumors Spark Renewed Interest in Richard Pryor Estate Battle
When Richard Pryor passed away in 2005, the world lost one of its funniest – and most controversial – comedians. As is often the case when a large estate is involved, Pryor’s death triggered a family feud that was ignited again recently following comments made about Pryor by Quincy Jones. Whether you agree with the outcome of the litigation or not, the facts and circumstances that led to the litigation providing some valuable estate planning lessons for all of us. Quincy’s Comments The latest … [Read more...]
