Blog

Published on September 15, 2021

What is the Gift Tax?

The Federal Gift Tax is important to understand within estate planning because of its implications for estate planning strategies. This article offers a basic overview of the Gift Tax. What is the Gift Tax? The Gift Tax is a federal tax on the donor of any gift above the annual exclusion amount. For 2021, the […]

Published on September 8, 2021

A-B Trusts

An overview of A-B Trusts as an advanced estate planning tool. An “A-B Trust” is a form of Joint Revocable Living Trust that automatically splits into two separate Trusts upon the first spouse’s death. These two Trusts are called the “A-Trust” and the “B-Trust.” The “A-Trust” contains the surviving spouse’s assets. The “A-Trust” will continue […]

Published on September 4, 2021

Disclaimer Trusts: Increased Flexibility in Tax Planning

Disclaimer Trusts allow one’s surviving spouse to choose which assets are held and which are placed in an Irrevocable Trust for their benefit. Depending on the size of the estate and the tax laws at that time—this flexibility can offer meaningful, financial benefits for the surviving spouse. Why would I need a “Disclaimer Trust?” A […]

Published on August 25, 2021

Should I transfer my LLC ownership to my Trust?

When possible, titling your LLC in your Trust’s name can have advantages. If you have an LLC in Missouri, frequently transferring your ownership interest to your Trust is the best way to transfer LLC assets to your heirs upon your death. (While still shielding your personal assets from any business liabilities incurred by the LLC). […]

Published on August 16, 2021

When should I consider a Trust Restatement?

Typically, Trusts need to be reviewed from time to time to ensure they still reflect your wishes and take current laws into account. When changes need to be made, a Restatement can be a useful option. What is a Trust Restatement? With a Revocable Living Trust, the Settlor reserves the right to amend their Trust—a […]

Published on August 11, 2021

Pet Trusts: Estate Planning for Pet Owners

Most pet owners are deeply concerned for the wellbeing of their pets, should they die unexpectedly. Pet Trusts are a powerful tool to care for your pets and bring peace of mind. How can I provide for my pets after I die? The instrument most frequently used to care of your pets after you die […]

Published on August 4, 2021

How do I name a Guardian for my children if I were to die unexpectedly?

Nominating a Guardian for your minor children is something that is done in your Last Will and Testament. For many clients this is a top priority when creating an estate plan. Technically, a court names the Guardian of your minor children. However, in your Will you will have the opportunity to nominate who you would […]

Published on July 21, 2021

Blended Family Estate Planning

When it comes to estate planning for blended families, there is no one size fits all solution. Likewise, sometimes a measure of creativity is required. While the following solutions are far from an exhaustive list, here are some frequently used options worth considering: 1. Joint Revocable Living Trust – The most straight forward option is […]

Published on June 25, 2021

Can my parents create a Will or Trust if they are seriously ill? When is it too late?

When someone is particularly ill, is not an ideal time to create an estate plan–it should be avoided if possible. However, sooner is always better! The downsides of waiting until you (or your parents/grandparents) are late in years or terminally ill, include: (1) You never know when your health could quickly fail (or suffer an […]