If you have a sizable estate that you ultimately plan to pass down to future generations one of your primary estate planning concerns should be how to transfer the family wealth without losing a substantial portion of it to gift and estate taxes. One option is to create what is commonly referred to as a "legacy trust". To understand how a legacy trust in St Louis MO can help you first need to understand what happens without one. All of the assets owned by you at the time of your death are … [Read more...] about What is a Legacy Trust in St Louis MO?
Remembering Our Nation’s Veterans –Veterans Aid and Attendance Benefits
We should all remember and be thankful for veterans throughout the year in the United States; however, we should also take a moment to say a special thank-you to all those who have served America on Veterans Day. As we celebrate Veterans Day this year we would also like to take the opportunity to inform Veterans and Surviving Spouse’s about a veteran’s benefit that many potentially eligible beneficiaries are unaware of – Veterans Aid and Attendance benefits. Veterans, survivors, and dependents … [Read more...] about Remembering Our Nation’s Veterans –Veterans Aid and Attendance Benefits
St. Louis, Missouri Veterans – Do You Qualify for the Veteran’s Aid and Attendance Program?
Many of the elderly in St. Louis are struggling to pay monthly expenses. If you are able to remain in your own home, but need assistance to complete common daily tasks around your home, you may benefit from a little known program for veterans called the Veteran’s Aid and Attendance program, or Veteran’s A&A program. Often considered the third tier of the veteran’s pension program, this program can provide enough financial assistance to make a significant difference in your monthly budget. … [Read more...] about St. Louis, Missouri Veterans – Do You Qualify for the Veteran’s Aid and Attendance Program?
Why Estate Planning Is Even More Important for Women
Experts tell us that the average woman lives five years longer than the average man. Often, a wife outlives her husband by a decade or more. For this reason alone, estate and retirement planning is even more important for women than for men in many cases. If you are a woman, it is imperative that you consider the possibility that you will outlive your spouse and plan accordingly. This means that you will need to plan for enough income and/or assets to support you through your retirement. It … [Read more...] about Why Estate Planning Is Even More Important for Women
Same-Sex Estate Planning Changes after Windsor
If you are a member of the GLBT community, or even if you are not, you likely know that the Supreme Court of the United States, or SCOTUS, made a historical decision recently in the case of U.S. v. Windsor. In short, the definition of marriage used in the Defense of Marriage Act, or DOMA, was found to be unconstitutional. While SCOTUS did not legalize same-sex marriage across the nation, the decision may have that effect in the years to come. In the meantime, what the SCOTUS decision did do was … [Read more...] about Same-Sex Estate Planning Changes after Windsor
When Is It Too Late to Do Medicaid Planning in Missouri?
Because the average life expectancy rate has been steadily climbing with each passing generation you should be planning to live into your 80s or 90s. While this is good news overall, there is often a financial cost to living longer. In fact, the cost of long-term care can quickly wipe out your life savings. Qualifying for benefits under the Medicaid program may be an option; however, failing to plan ahead could disqualify you for the Medicaid program. As a general rule, the longer you live the … [Read more...] about When Is It Too Late to Do Medicaid Planning in Missouri?
Avoiding Probate
A comprehensive estate plan typically accomplishes more than simply deciding how your estate assets will be distributed when you die. One secondary goal of a thorough estate plan is avoiding the probate process. While it is true that most estates cannot completely avoid probate there are a number of strategies that can be incorporated into your estate plan that will significantly limit your estate’s exposure to probate. To understand why you want to avoid probate you first need to know what … [Read more...] about Avoiding Probate
What Is Estate Planning in St Louis Missouri?
Even if you have yet to take the time to create an estate plan, you have likely heard the term. You may also have heard how important it is to create a comprehensive estate plan. Like many things in life though, understanding exactly what an estate plan can accomplish may be necessary before you finally take the steps necessary to create one for yourself. To begin with, not all estate plans are created equal. In fact, your estate plan should be as individual as you are. As such, your estate … [Read more...] about What Is Estate Planning in St Louis Missouri?
What Is An Elder Law Attorney?
Whether you yourself are entering you golden years or you are the loved one of someone who is entering their golden years, you will likely have need of an elder law attorney at some time in the future. Of course it helps to know what an elder law attorney does and the types of issues they handle so you will know when to consult one. An elder law attorney, as the name implies, is an attorney who specializes in legal issues that impact older individuals and their loved ones. Because the elderly … [Read more...] about What Is An Elder Law Attorney?
How Long Does Probate Take?
At some time in your life you will likely be involved in the probate of an estate. You might be named as the executor, volunteer to be the personal representative, or simply be a beneficiary or heir of an estate. Even if you somehow manage to escape all of these roles, you should still have an understanding of how long the probate process typically takes so that you can keep this in mind when creating your own estate plan. When an individual dies, the law usually requires the deceased’s estate … [Read more...] about How Long Does Probate Take?
