Charitable Gifting in Your Estate Plan from Charlie Amen Charitable trust – this is a trust that includes only charitable beneficiaries. You can create a testamentary trust or a living trust. A living trust will activate during your lifetime while a testamentary trust will only take effect upon your death; however, both allow you to gift to the charities of your choice Charitable lead trust (CLT) – provides income to a charitable beneficiary for a set period of time after which the remaining … [Read more...]

Retirement Planning: Tips to Help Save You More and Live Better from Charlie Amen Retirement planning should include the possibility that you, or your spouse, will need long-term care (LTC). The average cost of a year in LTC is $80,000 nationwide. The average length of stay is 2.5 years. Unless you purchase a LTC insurance policy, your basic health insurance policy will probably not cover any of the costs of LTC.  Learn more about retirement planning in this presentation.   … [Read more...]

How Do I Contest A Will in Missouri from Charlie Amen Losing a family member or close loved one is never easy, even if the death was anticipated. The immediate aftermath is a time filled with a number of heightened emotions that may include grief, anger, denial, and confusion. f you are a potential beneficiary or heir of the estate, it is particularly important for you to be aware of the proceedings. Learn more about contesting a will in Missouri in this presentation.   … [Read more...]

Asset Protection in Missouri: What You Can Do in Your Estate Plan to Protect the Asset You Have from Charlie Amen Your estate plan should protect your assets while you are here so you still have assets left to pass down to loved ones when you are gone. … [Read more...]

So You're In Charge of Probating an Asset - Now What? from Charlie Amen You will need to determine if each asset is a probate or a non-probate asset. For all probate assets, you must obtain a date of death value which may require the assistance of professional appraisers. Non-probate assets are not required to go through the probate process. Learn more about probating an estate in Missouri in this presentation … [Read more...]

Is a Trust Right For Your Estate Plan in Missouri from Charlie Amen During your retirement years you may need to qualify for Medicaid to help cover the high cost of long-term care. To be eligible, however, the value of your “countable resources” must fall below the program limit. An irrevocable living trust is often set up to ensure that you will qualify for Medicaid if you need it in the future. Your assets are transferred into the trust, thereby reducing the value of your countable … [Read more...]

Is It Time to Consider Guardianship and/or Conservatorship in Missouri from Charlie Amen In the State of Missouri, a guardian is a person who has been appointed by a court (usually the probate division of the circuit court). to have the care and custody of a minor or of an adult person who has been legally determined to be incapacitated. Learn more about guardianship in this presentation.   … [Read more...]

The Missouri Probate Process Explained from Charlie Amen First, it is highly likely that you will be involved in the probate of an estate at some point in your life as an Executor/Personal Representative, beneficiary/heir, or even as a creditor. Second, if you somehow manage to avoid being directly involved in the probate of someone else’s estate, you still need to understand the probate process for purposes of planning your own estate. Learn more about Missouri probate process in this … [Read more...]

Federal Gift and Estate Tax Explained from Charlie Amen Federal gift and estate taxes apply to the value of all gifts made during your lifetime combined with the value of your estate at the time of death. For example, if you made lifetime gifts valued at $3 million and left an estate valued at $6 million at the time of your death, gift and estate taxes would potentially apply to $9 million. Learn more about federal gift and estate tax in this presentation   … [Read more...]

Missouri Probate Process: What You Need to Know from Charlie Amen At some point in your life you will likely be involved in the probate of an estate. Even if you are never directly involved in the probate of another person’s estate, knowledge of the probate process is still important to have because your own estate will eventually have to pass through probate. Understanding the probate process will help you create a successful estate plan.   … [Read more...]