• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veterans Benefits
  • Seminars
  • Areas We Serve
    • Ballwin
    • Chesterfield
    • Clayton
    • Creve Couer
    • Des Peres
    • Edwardsville
    • Fenton
    • Glen Carbon
    • Glendale
    • Kirkwood
    • Maryland Heights
    • Oakland
    • Sappington
    • St. Louis
    • Sunset Hills
    • Valley Park
    • Webster Groves
  • Resources
    • Asset Protection Worksheet
    • Elder Law Resources
      • Chesterfield Elder Law
      • Fenton Elder Law
      • Kirkwood Elder Law
      • Sunset Hills Elder Law
      • St. Louis Elder Law
      • St. Peters Elder Law
      • Webster Groves Elder Law
    • FREE Estate Planning Seminars
    • FREE Estate Planning Worksheet
    • Frequently Asked Questions
      • Estate Planning
      • Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Trust Administration & Probate
    • Is Your Estate Plan Outdated?
    • Medicaid Resources
    • Multimedia
    • Newsletters
    • Presentations
    • Pre Consultation Form
    • Probate Checklist
    • Probate Resources
    • Retirement Planning Checklist
    • Special Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning For Niches
      • Trust Administration
  • Reviews
    • Our Reviews
    • Review Us
  • Blog
  • Contact Us

Amen, Gantner & Capriano | Your Estate Matters, L.L.C.

St. Louis Estate Planning & Elder Law Attorneys

Logo
CONNECT WITH US TODAY (314) 966-8077
ATTEND A FREE WEBINAR
Home / Estate Planning / Estate Planning in St Louis Missouri: Does Your Estate Have Enough Liquidity?

Estate Planning in St Louis Missouri: Does Your Estate Have Enough Liquidity?

December 27, 2013

Estate Planning Tagged With: estate planning in st louis missouri

estate planning in st louis missouriFor most people, the primary purpose of estate planning in St Louis, Missouri is to provide for family and loved ones upon death. Providing for your loved ones in the long-run through your estate plan is certainly essential; however, you also need to ensure that they are taken care of in the short run as well. To do this, your estate plan must include sufficient liquidity. If a review of your plan shows a lack of liquidity it may be time to revise your plan.

Liquidity refers to the immediate availability of an asset’s value. Cash is the most liquid of all assets. The easier an asset can be turned into cash the more liquid the asset is. Imagine this scenario. You are on a road trip in your vehicle and come upon a toll booth that requires you to pay a toll of $2.50 to proceed. You have no way to pay the toll; however your three passengers all offer to help. One passenger offers to write you a check for $25.00. Another passenger offers you a silver ring worth $50 and the final passenger offers you cash in the amount of $2.50. Clearly the ring has the highest value; however, the cash has the most liquid value because both the ring and the check would have to be turned into cash to be of value to you at the moment.

The same very basic concept applies to your estate plan. When you die, your family members and loved ones will need immediate access to funds to pay for your funeral and service as well as to pay basic living expenses. Assets left behind that are required to go through probate will not be immediately available to the intended beneficiaries, meaning they are not liquid assets. Creating estate liquidity can be accomplished using a variety of different methods; however, some common strategies include:

  • Life Insurance – life insurance proceeds bypass probate, meaning the beneficiary receives the funds shortly after your death.
  • Living Trust – assets held in a living trust may not be included in your estate. The terms of the trust could call for immediate disbursement of some, or all, of the funds in the event of your death.
  • POD/TOD Accounts – “Payable on death” and “Transfer on death” accounts can be used for financial accounts and/or securities to transfer ownership of the asset upon your death without the need for the asset to go through probate.

Consult with your St Louis Missouri estate planning attorney to ensure that  your estate plan has enough liquidity to provide immediate access to funds for your family and loved ones.

  • Author
  • Recent Posts
Paul Gantner
Paul Gantner
I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations.My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”
Paul Gantner
Latest posts by Paul Gantner (see all)
  • Show Your Love by Creating an Estate Plan - March 21, 2023
  • What You Need to Know About SECURE Act 2.0 - March 14, 2023
  • The Lessons from Lisa Marie - March 7, 2023

Filed Under: Estate Planning Tagged With: estate planning in st louis missouri

Other Articles You May Find Useful

The Lessons from Lisa Marie
Common Mistakes in Estate Planning – Part II
Common Mistakes in Estate Planning – Part I
Now That Mid-Terms Are Over, Let’s Talk Taxes
Refresh and Reset: Syncing up in San Diego
Planning for the “Silver Tsunami”

About Paul Gantner

I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations. My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”

Primary Sidebar

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • twitter
  • linkedin
  • youtube

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Where We Are

Amen, Gantner & Capriano
10733 Sunset Office Drive, Suite 425
St. Louis, MO 63127

See Larger MapGet directions

Office Hours

Monday8:30 AM - 5:00 PM
Tuesday8:30 AM - 5:00 PM
Wednesday8:30 AM - 5:00 PM
Thursday8:30 AM - 5:00 PM
Friday8:30 AM - 12:00 PM

Map

map for Amen, Gantner & Capriano Your Estate Matters office
  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Footer

Connect to us

  • Facebook
  • twitter
  • linkedin
  • youtube
footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.

Amen, Gantner & Capriano,
Your Estate Matters, LLC

Attorney Advertisement