Blog

Published on May 18, 2022

What are the differences between a Will-based estate plan and a Trust-based estate plan?

Learn more about your options for selecting the right estate plan for you and your loved ones. Certain documents are almost universally recommended when an individual or couple has an estate plan prepared. These documents include: 1. “Standalone” Will OR a Trust & “Pour-over” Will 2. General Power of Attorney (selects an agent for financial/legal […]

Published on May 9, 2022

Estate Planning for Parents with Young Children

Parents with young children face unique issues, when dealing with the personal and financial preparations of estate planning. If you are a parent with children under 18, or even in their early to mid-20s, estate planning is of vital importance. In addition to the ever-present priority of avoiding probate, these issues are particularly relevant for […]

Published on October 26, 2021

Can (and should) I select the same person as both Personal Representative and Successor Trustee?

Estate planning clients frequently ask if it is important to separate the roles of PR and Successor Trustee. Before diving into this question, it would be helpful to review the responsibilities of these two roles: Personal Representative – A Personal Representative (also called an executor in some states) oversees the administration of the decedent’s estate. […]

Published on September 29, 2021

What is a Certification of Trust? What is it used for?

If you have a Trust, it likely contains a support document called a “Certification of Trust.” This article will illuminate the role and importance of this document. The Certification of Trust or “Certificate of Trust” is essentially a short form version of your Trust. The Certification of Trust contains important information about the Trust that […]

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 […]