One of the biggest concerns we all share as we age is what will happen to us if we become ill in our golden years. The idea of being relegated to a nursing home, far away from family and friends, is not a welcome thought for most people. Like most people, you may have asked yourself “ Can I stay in my home if I get sick when I’m older? ” The answer to that question depends on a number of factors; however, in many cases the answer is “yes”, you can remain in your home if you get … [Read more...] about Can I Stay in My Home If I Get Sick?
What Are the Drawbacks of Probate in St. Louis?
If you are preparing to create an estate plan, or due to review and revise an existing plan, in St. Louis you have likely heard that probate avoidance is an important component of your estate plan. You may, however, not have a clear understanding of precisely why probate avoidance is such an important part of an estate plan. To understand why people choose to include probate avoidance strategies in their estate plan you need to understand the probate process better and the drawbacks of probate … [Read more...] about What Are the Drawbacks of Probate in St. Louis?
Per Stirpes and Per Capita – What Is the Difference?
Your estate plan will undoubtedly include a number of legal documents that often containing confusing legal terminology. One set of terms that you may see repeatedly throughout your estate plan is “per stirpes” and/or “per capita”. Both of these terms are used to direct the distribution of estate assets. Using one instead of the other can have a dramatic impact on the distribution of your estate assets, making it important to understand the difference between the two terms. The terms per stirpes … [Read more...] about Per Stirpes and Per Capita – What Is the Difference?
Can You Be the Trustee of My Living Trust?
A well thought out estate plan typically includes numerous legal documents as well as a wide variety of legal strategies, all aimed at accomplishing goals that complement your primary goal of creating a roadmap for the division of your estate property upon your death. One common addition to an estate plan is a trust. In fact, many estate plans include more than one trust because of the flexibility trusts offer and the numerous purposes a trust can serve within an estate plan. One decision that … [Read more...] about Can You Be the Trustee of My Living Trust?
Free Report: Trustee Duties and Responsibilities
Although your Last Will and Testament serves as the foundation for your overall estate plan, your plan will likely include numerous other estate planning documents, tools, and strategies. Exactly which documents, tools and strategies you choose to include in your estate plan will depend on your unique goals and objectives. Trusts, however, are a common addition to a comprehensive estate plan because of the flexibility trusts offer and the varied and numerous goals and objectives that can be … [Read more...] about Free Report: Trustee Duties and Responsibilities
Who Can Create a Power of Attorney?
Having a power of attorney included in your overall estate plan is often extremely helpful. A POA is a legal form that entrusts decision-making powers to someone for medical, financial, legal, and other purposes. You can have more than one power of attorney, each for a different aspect of your life. Almost anyone can create a power of attorney but care must be taken when deciding to sign one. In terms of who can execute a power of attorney the only requirements are that the principal (person … [Read more...] about Who Can Create a Power of Attorney?
Who Should Be the Successor Trustee of My Revocable Living Trust?
A thorough estate plan will typically involve much more than a Last Will and Testament. Although each estate plan is as unique as the individual creating the plan, many estate plans include at least one trust among the plan. Revocable living trusts, for example, are a common addition to an estate plan. If you choose to include a revocable living trust in your estate plan you will need to name a trustee for the trust. You will also likely need to name a successor trustee. Who you name as the … [Read more...] about Who Should Be the Successor Trustee of My Revocable Living Trust?
Trustee Duties and Responsibilities
Trustee Duties and Responsibilities from Charlie Amen At its most basic, a trust is a legal arrangement where in a third party holds something of value for you for the benefit of one or more beneficiaries. All trusts require four basic elements for creation. … [Read more...] about Trustee Duties and Responsibilities
What Is A Charitable Remainder Trust in St. Louis?
Creating an estate plan is an opportunity to bring together numerous different goals and objectives in one comprehensive plan. Though your Last Will and Testament will undoubtedly serve as the foundation of your plan, you will likely include a number of additional documents, tools, and strategies in your overall plan. One common addition to an estate plan is a trust. In fact, many people include more than one trust in their estate plan. In St. Louis and throughout Missouri, if you wish to make a … [Read more...] about What Is A Charitable Remainder Trust in St. Louis?
QDOT Trust in St. Louis: Do I Need to Include It in My Estate Plan?
If you are married to a non-citizen spouse and you wish to pass on your estate assets to your spouse in the event of your death you may need to include a QDOT trust in your comprehensive estate plan. Failing to do so could result in the loss of substantial estate assets to gift and estate taxes. In the 21st century it is not uncommon for people to travel the globe on a regular basis for business and/or pleasure. Not surprisingly, these world travelers often find the love of their life during … [Read more...] about QDOT Trust in St. Louis: Do I Need to Include It in My Estate Plan?
