One of the most commonly given reasons for not having a comprehensive estate plan in place is not knowing where to start. Basically, people are often intimidated by the concept of creating an estate plan. Once they get started, however, they usually find that estate planning isn’t as complicated as it seems once you understand some of the basic concepts. To get you started, the following are a few things you need to know about Wills and estates. Wealth does not determine the need … [Read more...] about 10 Things You Need to Know about Wills and Estates
Tips for Shortening the Probate Process
Almost everyone is involved in the probate of an estate at some time during their lifetime. If you recently found out that you are going to be involved in the probate process as the Executor of an estate you may be a bit intimidated by the position if this is the first time you have served as an Executor. The probate process can be lengthy for even a relatively modest estate. In order to ensure that the probate of the estate that you are administering does not take longer than necessary, … [Read more...] about Tips for Shortening the Probate Process
How Do I Incorporate Retirement Planning into My Estate Plan?
Regardless of your age, you should be thinking about retirement planning. In fact, you should be doing much more than just thinking about it – you should be incorporating it into your estate plan. Why should retirement planning be part of your estate plan? Because if you fail to plan properly for retirement, you will not have much, if any, estate left to pass down to family and loved ones. The best way to ensure that retirement planning is properly incorporated into your estate plan is to work … [Read more...] about How Do I Incorporate Retirement Planning into My Estate Plan?
Where to Find Help Preparing a Will
Have you put off creating and executing a Last Will and Testament despite knowing how important it is for you to do so? If so, you are hardly alone. Surveys indicate that about half of all Americans do not have an estate plan in place. People offer an endless number of explanations for why they have yet to even execute a Will; however, one of the most common reasons people give is that they don’t know where to start or where to turn for help. If you are one of those people, do not make the … [Read more...] about Where to Find Help Preparing a Will
Can an Elder Law Attorney Help with Long-Term Care Planning?
Most people prefer not to think about the possibility that they will need long-term care at some point down the road. That possibility, however, becomes more of a probability the longer you live. Failing to acknowledge the likelihood that you will need long-term care in the future could result in you not being prepared to cover the costs of that care when the time comes. The best way to avoid ending up in this situation is to work closely with a Missouri elder law attorney who can help you … [Read more...] about Can an Elder Law Attorney Help with Long-Term Care Planning?
How Long Is the Guardianship Process in Missouri?
As an adult child, one of the most difficult moments you will ever experience is the moment when you realize your parent can no longer take care of himself/herself because of physical or mental incapacity. If you have come to that realization yourself, you may be wondering what to do next. If the situation is serious enough, it may be time to consider pursuing guardianship over your parent. Since you have likely never been through the guardianship process before you likely have a number of … [Read more...] about How Long Is the Guardianship Process in Missouri?
Can Trust Lawyers Help Me Choose the Right Trust for Me?
Estate planning typically involves a number of tools and strategies above and beyond a basic Last Will and Testament. One of the most common of those tools is a trust. Though once used primarily by the wealthy as a method by which the family wealth was passed down, trusts have evolved to the point where they are now found in the average person’s estate plan. You may know enough about trusts to believe your estate plan might benefit from the addition of one; however, you may not know what type … [Read more...] about Can Trust Lawyers Help Me Choose the Right Trust for Me?
Understanding the Look Back Rule for Missouri Medicaid
Like most people, you may very well make it to the end of your working years without ever giving Medicaid eligibility a second thought. After all, you had employer sponsored health insurance and your income was (fortunately) too high to qualify for programs such as Medicaid. Why then, would you need to worry about being eligible for Medicaid during your retirement years? Moreover, what is the “look-back” rule for Missouri Medicaid and why is it important? The answers to these important questions … [Read more...] about Understanding the Look Back Rule for Missouri Medicaid
Can Estate Taxes Destroy Your Estate Plans?
Most of us work hard all of our lives not only to provide a decent standard of living for ourselves, but in the hope that we will have something left to leave behind for our loved ones when we die. A well thought out estate plan is a way to determine who will receive the fruits of your labor when you are gone. Estate taxes, however, can destroy your estate plans if you make the mistake of not considering the impact of those taxes on your estate ahead of time. In fact, your estate could lose … [Read more...] about Can Estate Taxes Destroy Your Estate Plans?
What Components Do You Need in Your Estate Plan?
Hopefully, you are aware of the importance of having an estate plan in place; however, do you understand what components should be in that plan? A comprehensive estate plan, after all, should accomplish much more than designing a road map to be used for the distribution of your estate assets when you are gone. A well drafted estate plan can help manage and grow those assets while you are still here as well as protect you and your loved ones both now and in the future. Given the individual … [Read more...] about What Components Do You Need in Your Estate Plan?
