10Like most people, you have probably listened to well-meaning family and friends tell you how important it is to have a Last Will and Testament in place. Also like many people, you may have put off creating yours for a number of reasons. Some people are convinced they don’t have a valuable enough estate to warrant executing a Will while others putt off creating their Will because of the perceived time and expense involved. Unfortunately, this sometimes leads people to turn to “Do-It-Yourself” … [Read more...] about Do I Need Help Creating a Will?
Is Contesting a Will after Probate Possible?
The loss of a family member or loved one is typically followed by a period of mourning and grief. The last thing you usually want to think about during this time period are the practical and legal ramifications of your loved one’s death. The problem, however, is that it is during this time that a decedent’s Last Will and Testament is submitted for probate. It is also during this time that any challenges to the Will are typically submitted to the court. What happens if probate has concluded and … [Read more...] about Is Contesting a Will after Probate Possible?
Should I Hire a Trust Administration Lawyer If I’m the Trustee?
One of the most popular additions to a comprehensive estate plan is a trust. Though once used primarily by wealthy families as a way to shelter, control, and pass down their wealth, trusts are now commonly found in the estate plan of the average person. Trusts have evolved to the point where there are numerous specialized trusts that focus on accomplishing very specific estate planning goals. All trusts, however, require the same basic elements for creation. One of those is the appointment of a … [Read more...] about Should I Hire a Trust Administration Lawyer If I’m the Trustee?
Is an LLC Right for My New Business?
For many people, owning a small business is a dream come true. If you are one of those people, and you have made the decisions to make that dream come true, you have a number of important decisions ahead of you. One of the most important of those decisions is what legal structure to choose for your business. The type of legal entity you choose for your business will have a direct impact on things such as your personal liability, the management structure of the business, taxes, and investment … [Read more...] about Is an LLC Right for My New Business?
What Is a Revocable Trust?
Like most people, your estate plan will likely begin with the execution of a Last Will and Testament. Your Will may serve as the foundation of your estate plan; however, as both your family and your estate grow you will probably need to incorporate additional estate planning tools and strategies into your plan in order to accommodate that growth. One of the most common additions to an estate plan is a trust, due in large part to the flexible nature of trusts and the numerous goals a trust can … [Read more...] about What Is a Revocable Trust?
Types of Special Needs Trusts
A special needs trust is a specific type of trust that is intended to provide financial support to someone who has special needs or who is disabled. Because someone with a disability or who has special needs is likely also receiving assistance from state and/or federal programs such as Medicaid or Supplemental Security Insurance (SSI), great care must be taken when gifting assets to the individual or when the individual receives funds directly. The solution can often be found in the creation of … [Read more...] about Types of Special Needs Trusts
Executor Duties and Responsibilities
When you think about creating your Last Will and Testament you likely think about all the decisions you will need to make related to the distribution of your estate assets. What you may not be thinking about is who to appoint as the Executor of your estate. Like most people, you may simply fill in the name of a spouse, family member, or close friend as the Executor in your Will without giving the matter much thought. Once you learn about the numerous and varied Executor duties and … [Read more...] about Executor Duties and Responsibilities
Do I Need to Worry about Inheritance Tax in Missouri?
When you create your estate plan, your primary objective will likely be to plan for the distribution of your estate assets to loved ones upon your death. Along with that primary objective, however, you will likely also include related goals and objectives. For example, you will probably need to consider the impact taxes will have on your estate when you die to ensure that your estate has sufficient assets available to pay any tax liabilities due to the state and/or federal government. In … [Read more...] about Do I Need to Worry about Inheritance Tax in Missouri?
What Does a Probate Attorney Do?
Throughout the course of your lifetime you will likely need the assistance of an attorney more than once. When you do find yourself in need of legal advice or assistance, it is important to consult with the right type of attorney because not all attorney handle the same type of legal issues. Just as you would not consult with a pediatrician if you had cancer, you don’t want to consult with an attorney who specializes in criminal law for a divorce. In order to know which type of attorney you … [Read more...] about What Does a Probate Attorney Do?
St. Louis Estate Planning Attorney Offers Tips for Creating Your Will
At the foundation of any well thought out estate plan is usually a Last Will and Testament. Although you will likely incorporate additional estate planning tools and strategies into your comprehensive estate plan, it all begins with your Will. In fact, your Will can play as big, or as little, a role in your estate plan as you wish. Whether your Will is your entire estate plan at the moment or just the cornerstone of a much bigger plan, care should be taken when creating your Last Will and … [Read more...] about St. Louis Estate Planning Attorney Offers Tips for Creating Your Will
