Preparation is essential if you want to be ready for whatever life throws your way, but it is also important if you want to take care of your loved ones after your pass. If you are like many other people, you may think that simply creating a will is enough. However,...
When does a Missouri estate require probate?
Probate can be costly and significantly extend the amount of time it takes to settle a deceased person's estate. Estate planning strategies can help you avoid probate for your inheritors if desired. Review the factors that determine whether an estate requires probate...
The importance of planning for incapacity
It's not uncommon for Missouri residents to focus their estate planning efforts on what happens after they die. However, an estate plan can also help you account for events that might take place during your lifetime. A trust, Financial Power of Attorney or Health Care...
How a trust can help you avoid probate
If there are assets in your Missouri estate, (i.e. your name), when you pass away, they are generally subject to probate. This means that they cannot be transferred to beneficiaries until probated and a judge gives your estate representative permission to do so....
Drawbacks to a do-it-yourself estate plan
If you live in Missouri and you have not created an estate plan, you might be wondering whether you can simply prepare one yourself. While it may seem like this would save you money, there are some drawbacks to a DIY approach. Planning for your family Some people...
Why everyone needs a will
Most people don’t like to think about death much. That may be part of the reason so few Americans have a will. According to a 2017 AARP survey, only 4 in 10 of U.S. adults have a will or living will. That means most adults don’t have the documents they need to show...
3 Common mistakes that get executors into trouble
Though it can feel like an honor initially, it's essential to understand that serving as the executor to a person's estate is a big undertaking. As a Personal Representative, you'll have a legal responsibility to distribute property according to the deceased's...
Things you may not want to put in your will
Nobody likes to contemplate death, but life can change in any given moment. You want to prepare yourself and your loved ones for the unexpected, and drafting a solid will is part of that process. It can seem tedious and time-consuming at first, but your loved ones...
What is the difference between guardianship and conservatorship?
When you have a relative who is in decline due to age or a medical condition, it may be time to ask the hard questions and consider becoming a guardian or conservator. If your relative has just started to decline, it is better to discuss with them the need for...
The shortcomings of do-it-yourself estate planning
Many people try to save money with do-it-yourself wills and other estate planning shortcuts. A number of online programs offer these documents for free or for a low cost. It's tempting, but there is a catch. Even with the simplest estates, there is a certain amount of...
