Blog

Published on October 12, 2022

What happens to a Joint Trust when one spouse dies?

For Joint Revocable Living Trusts formed by married couples, minimal changes occur (regarding the Trust) upon the death of the first spouse. However, the changes are significant upon the surviving spouse’s death. When a married couple creates a standard Revocable Living Trust (RLT), they typically act as the: 1. Joint Settlors (creators of the Trust). […]

Published on October 7, 2022

Property Subject to Probate in Missouri

Want to avoid probate? The answer should be yes! Here’s a summary of what property is subject to probate administration under Missouri law. In Missouri, property not subject to probate administration includes: 1. any personal or real property owned by a Trust; 2. property which the decedent owned as joint tenants with right of survivorship […]

Published on October 7, 2022

How do I move personal property into my Trust?

Personal Property and assets that do not have a formal title of ownership transfer to one’s Trust by signing an “Assignment of Personal Property” or a “Bill of Sale.” It is important to remember that a Revocable Living Trust (or any other Trust) can only manage, hold, or distribute assets over which it has ownership. […]

Published on September 28, 2022

Why should I move my house into a Trust?

If you have a Revocable Living Trust, transferring real estate you own into the Trust can have many advantages. When clients have a Revocable Living Trust (RLT), their home is one of the most critical assets to transfer. Here are some reasons you should consider moving your home or other property into a Trust: 1. […]

Published on September 19, 2022

The Most Common Reasons for Creating a Trust

Why would you want to consider forming a Trust? There are many excellent reasons to utilize a Revocable Living Trust as part of your estate plan. Here are the most common. A Trust is a highly effective estate planning tool. Wills, unfortunately, have more significant limitations. Nevertheless, the following are the most common reasons people […]

Published on August 23, 2022

What is the best way to transfer real estate to a Trust?

The best method to move real estate into your Trust depends on various factors. Ultimately, you should consult an attorney. However, here are some general considerations. The best method for transferring real estate to a Trust is highly situational. Here are some examples: LLC-owned real estate: If you have a single member LLC (or you […]

Published on August 3, 2022

Should I select the same individual as my power of attorney and successor trustee?

Some of the responsibilities of your attorney-in-fact and successor trustee appear to overlap. Therefore, there can be benefits to appointing the same individual as both your attorney-in-fact and successor trustee. Your attorney-in-fact and successor trustee are both critical roles in your estate plan. Your attorney-in-fact has a wide range of financial and legal powers, as […]

Published on July 12, 2022

What happens to my Trust if I am incapacitated?

A well-drafted Trust contains many safeguards and instructions for what should happen if the Trust’s creator becomes incapacitated. Regardless of age, health, or mental capacity, the creator of a Trust remains the primary beneficiary while alive. (Or co-beneficiary, in the case of married couples). If you are not physically or mentally well, your successor trustee […]

Published on June 21, 2022

Can a Revocable Trust be amended?

A revocable trust can be amended anytime during your life. Learn more about situations that necessitate seeing your attorney to make such changes. Can a Revocable Trust be amended? Yes. A Revocable Living Trust (RLT) can be amended. One aspect of RLTs that clients find particularly appealing is the ability to change them with relative […]