You have worked hard all your life, saved faithfully, and invested prudently with the intention of being able to pass down a sizeable estate to your children and grandchildren at the end of your life. Understandably, you are wary of any threats to your plans. Unfortunately, you have recently realized that the biggest threat may come from inside the family in the form of your son-in-law. Your biggest fear is that he will end up with your assets after you are gone. The good news is that there are … [Read more...] about How Do I Keep My Son-in-Law from Winding Up with My Assets?
Can’t I Just Use a Trust Agreement I Found Online?
In the electronic world we now live in, almost anything can be located with the click of a few buttons on the average laptop. Even legal forms and documents are now easy to find online. Understandably, this makes it very tempting to simply download the legal document you need, fill in the blanks, and be done with it, thereby avoiding the time and money it takes to have an attorney prepare the document. If you are planning on creating a trust in the near future, you may be tempted to go this … [Read more...] about Can’t I Just Use a Trust Agreement I Found Online?
Tips for Estate Planning with a Dysfunctional Family
Let’s face it – family dynamics can be complicated, to say the least. Some families, however, go beyond complicated into dysfunctional. When you are part of a dysfunctional family it can make the process of estate planning much more difficult. It can also dramatically increase the odds that someone in the family will bring challenge to your estate after you are gone. Fixing deep seeded family issues is not something that will occur overnight; however, the following tips for estate planning with … [Read more...] about Tips for Estate Planning with a Dysfunctional Family
How Can a Living Trust Help with Incapacity Planning?
A well thought out and drafted estate plan should do much more than simply create a roadmap for the disposition of your estate assets when you die. Only you, with the assistance of your Missouri estate planning attorney, can decide what additional components are right for your needs and objectives; however, there are some commonly included additions, including incapacity planning. One estate planning tool that is frequently used to accomplish incapacity planning within an overall estate plan is … [Read more...] about How Can a Living Trust Help with Incapacity Planning?
How to Choose the Right Estate Planning Attorney
Most Americans are aware of the importance of creating a comprehensive estate plan; yet, despite this knowledge over half of all American do not have a plan in place. If you are among the majority, now is the time to change that by finally taking the time to create your estate plan. Your first step should be to retain the services of an experienced Missouri estate planning attorney to assist you in the creation of your plan. Since you have likely never needed an estate planning attorney before, … [Read more...] about How to Choose the Right Estate Planning Attorney
Creating a Trust — Revocable vs. Irrevocable Trusts
When you think about estate planning do you immediately think about creating a Last Will and Testament? If so, you are not alone. Most people consider a Will to be the primary, or even the only, estate planning document they need when creating an estate plan. Often, however, a Will is either insufficient to accomplish all of your estate planning needs or is not the ideal tool to accomplish your estate planning goals. When either is the case, it may be time to consider establishing a trust … [Read more...] about Creating a Trust — Revocable vs. Irrevocable Trusts
Is The Inheritance You Leave Your Kids Taxable?
For most people, the primary reason to create an estate plan is to ensure that loved ones are provided for after their death. With that goal in mind, it only makes sense to maximize the value of the estate you leave behind – and minimize any costs or liabilities that could decrease the value of the assets you leave your beneficiaries. Since we all know that just about everything is taxed in the United States, it makes sense to wonder “Is the inheritance you leave your kids taxable?” If it is, it … [Read more...] about Is The Inheritance You Leave Your Kids Taxable?
How to Transfer Appreciable Assets at a Discount
If you are fortunate enough to have accrued an estate that is significantly valuable you likely already know that careful estate planning is crucial. Passing down the assets in your estate without losing a significant portion of the value of those assets is the challenge. For anyone with valuable estate assets, knowing how to transfer appreciable assets at a discount is one key to a successful estate plan. One commonly used estate planning tool for accomplishing just that is the Grantor Retained … [Read more...] about How to Transfer Appreciable Assets at a Discount
Can a Trust Help Me with Asset Protection?
If you are fortunate enough to have amassed a moderate to large estate, chances are good that your future didn’t occur as a result of luck. Instead, you have likely worked hard, invested wisely, and saved prudently throughout your lifetime. Understandably, you now want to protect those assets you have from a wide range of potential threats. Your estate plan is the perfect mechanism for doing just that. By including an asset protection trust in your estate plan you will ensure that the assets you … [Read more...] about Can a Trust Help Me with Asset Protection?
Why Keep Assets in a Trust Instead of Gifting Them Outright?
When the subject of estate planning comes up you may hear people discussing a trust they created as part of their plan. Your estate planning attorney may also suggest that you use a trust agreement in your own estate plan. If you have never made use of a trust agreement before you likely have a number of important questions. For starters, you probably want to know why you should put assets in a trust instead of gift them in a Will. There are actually several reasons why gifting assets through a … [Read more...] about Why Keep Assets in a Trust Instead of Gifting Them Outright?
