If you are one of the millions of Americans who does not have an incapacity plan in place now is a good time to change that. In St. Louis, Missouri, people without a plan offer a variety of explanations for why they have yet to create a plan. Typically, the reasons boil down to one of three – no need for one, no money to create one, no desire to consider the possibility of incapacity. If you don’t have an incapacity plan in place, consider the top five reasons why you need one. To protect … [Read more...] about Top Five Reasons Why You Need an Incapacity Plan in St. Louis
How Is Property Managed When Someone Is Incapacitated?
When most people here the word “incapacity” the immediately envision an elderly individual who is suffering from an age-related dementia disease such as Alzheimer’s. While many age-related diseases and conditions do cause incapacity the reality is that incapacity can strike anyone, at any age. In fact, studies show that we all have a one in five chance of becoming disabled, either totally or temporarily, before reaching the age of 65. If you become incapacitated, who will manage your property … [Read more...] about How Is Property Managed When Someone Is Incapacitated?
Creating a Joint Tenancy with a Child
If you are an older single American and you own your home you may be concerned about your home’s future if something were to happen to you. One option that people often consider is creating a joint tenancy with an adult child. When done properly, creating a joint tenancy with a child does offer a simple method for transferring ownership of the property in the event of your death. It also allows your child to control the property in the event of your incapacity. Missouri law allows for the … [Read more...] about Creating a Joint Tenancy with a Child
How Does the Law Define Incapacity in Missouri?
A comprehensive estate plan should cover more than simply the division of assets upon death. One of the most common editions to an estate plan is an incapacity plan. Unfortunately, most people relate the concept of incapacity to old age and diseases such as Alzheimer's. While it is true that you are more likely to become incapacitated as you age, the reality is that a tragic accident or terminal illness could lead to your incapacity at any time. It is for this reason that incapacity planning is … [Read more...] about How Does the Law Define Incapacity in Missouri?
Incapacity Planning in St Louis: Why A Living Trust Is Better than a Power of Attorney
When many people create a comprehensive estate plan they frequently include an incapacity plan as well. Although many people think of incapacity in terms of old age related dementia diseases the reality is that incapacity could strike tomorrow in the form of a tragic car accident or terminal illness. Just as there are a wide variety of estate planning tools and strategies there are also numerous different incapacity planning options. Among those options are a living trust and a power of … [Read more...] about Incapacity Planning in St Louis: Why A Living Trust Is Better than a Power of Attorney
Does My Parent Need a Guardian?
With the life expectancy of Americans inching closer and closer to 100 years the older American population continues to grow exponentially. By 2050, experts tell us that the over 65 age group will outnumber the under 21 age group for the first time in the history of the planet. Although we are living longer we are still battling diseases such as Alzheimer’s. If your parents are approaching, or are even well into, their golden years you may be faced to answer the question “Does my mother need a … [Read more...] about Does My Parent Need a Guardian?
What Is a Conservator or Guardian in Missouri?
At some time in your life you may be faced with a difficult decision – whether or not to step in and seek to become a conservator or guardian. Although it is often not an easy decision, failing to make the decision can have devastating consequences for the individual involved. Understanding what a conservator or guardian in Missouri actually does may help you decide how to proceed. Under Missouri law, you may petition the court to become either a guardian over the person or a conservator over … [Read more...] about What Is a Conservator or Guardian in Missouri?
How to File for Guardianship in St. Louis Missouri
The life expectancy of the average American has increased over 20 years in the last century. This means that we are expected to live longer and chances are our parents and other older relatives will live longer as well. Overall, this is certainly good news; however, the reality is that living longer also increases the likelihood of suffering from an age-related dementia disease such as Alzheimer's. If you have a parent, or other elderly relative, who you believe has reached a point at which he … [Read more...] about How to File for Guardianship in St. Louis Missouri
Incapacity Plan in St. Louis MO: Who Makes Decisions If You Are Incapacitated?
When most people think of incapacity they envision someone in their golden years who is suffering from an age related dementia disease such as Alzheimer's. This is certainly one way that you could become incapacitated during your lifetime; however, it is not the only way. In fact, incapacity can strike anyone, at any time. Because you have likely not given the possibility of incapacity much thought you have probably also not considered who will make decisions if you are incapacitated. Once you … [Read more...] about Incapacity Plan in St. Louis MO: Who Makes Decisions If You Are Incapacitated?
If You Become Incapacitated, Who Will Manage Your Money?
Understandably, most people don’t want to think about the possibility of becoming incapacitated, particularly at a young age. It can happen, and if it does someone will have to manage your money. Whether or not you decide who will manage your money depends on whether or not you take the time to plan ahead. Many people make the mistake of assuming that a spouse, child or parent will be legally allowed access to their assets in the event of incapacity simply because of the relationship. This is … [Read more...] about If You Become Incapacitated, Who Will Manage Your Money?
