Blog

Published on May 28, 2021

Estate Planning for Cryptocurrency

Cryptocurrency is a unique financial asset. Accordingly, it requires unique consideration when planning your estate. Financial assets such as retirement accounts or checking accounts, are typically transferred to your trust by listing the trust as a beneficiary, POD (payable-on-death designee), or via a similar convention. However, any cryptocurrency stored in your digital wallet is intended […]

Published on April 14, 2021

Navigating the Intersection of Beneficiary Deeds, TODs, and Your Will

The implications of utilizing non-probative transfers, such as Beneficiary Deeds and POD/TOD designations, can be tricky to understand when preparing a Will. Rule #1: Wills have no control over assets transferred by Beneficiary Deed or TOD A common scenario: a client wants to avoid probate, so they apply “non-probative transfers” to their assets. By non-probative […]

Published on March 5, 2021

Pour-Over Wills Are Crucial to Trust-Based Estate Planning

If I have a trust do I still need a Will? In short, yes. It is always advisable to have a Will. If you have a Trust you should still have a Will. There are certain issues addressed in your Will that cannot be addressed in a Trust. Some of these issues include nominating a […]

Published on February 4, 2021

How Does a Trust Work?

Learn about how Revocable Living Trusts work. How does a Trust work? “A Will Meets a Business” I think it is easiest to think of a Trust as “a Will meets a business.” A Trust is like a Will because it performs the same ultimate function—transferring your assets to your beneficiaries. However, a Trust is […]

Published on January 15, 2021

What is the Difference Between a Will, a Living Will, and a Living Trust?

Learn the difference between commonly confused estate planning terms. Estate Planning terms vary from state to state Legal verbiage is notoriously confusing. In Estate Planning this confusion is compounded by different states using different terms to describe the same concepts. One example is the term “Executor.” An Executor is called a “Personal Representative” in Missouri […]

Published on December 22, 2020

Irrevocable Medicaid Asset Protection Trusts in Missouri

How can I protect my assets from Medicaid? In Missouri, there are a variety of options when it comes to planning for long-term care. This discussion will focus on the Irrevocable Medicaid Asset Protection Trust. One significant advantage to having an Irrevocable Medicaid Asset Protection Trust is that assets transferred into the trust may not […]

Published on November 30, 2020

How Do I Revoke a Will in Missouri?

Under Missouri law, you can revoke a Will be destroying it, canceling it, or by creating a new Will. When a client has an existing Will (plenty of course do not—for many clients this is their first estate plan), they frequently ask what will happen to their old Will, if they create a new one. […]

Published on October 26, 2020

A Look at Testamentary Trusts

Learn about the strengths and weaknesses of Testamentary Trusts compared to other estate planning tools. A Testamentary Trust is a type of Irrevocable Trust created upon your death. The terms of the trust and instructions for its creation would be contained in your Will. Unlike many other forms of Trusts, a Testamentary Trust is formed […]

Published on October 24, 2020

Types of Transfer Deeds in Missouri

What are the differences between General Warranty Deeds, Special Warranty Deeds, and Quitclaim Deeds? In Missouri, there are three primary types of deeds used to transfer title to a piece of real estate: a General Warranty Deed, a Special Warranty Deed, and a Quitclaim Deed. Each type of deed provides a different level of assurance […]