Blog

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 […]

Published on October 20, 2020

The Advantages of Trust-based Estate Planning

The differences between a Trust-based estate plan and a Will-based estate plan can be quite significant. What are the advantages of having a Trust in your estate plan? A Trust offers many benefits that a Will does not: 1. Trusts can distribute assets over time and under the supervision of a trustee. This is particularly […]

Published on October 7, 2020

Prenuptial Agreements as an Estate Planning Tool

Prenuptial agreements can play an important role in estate planning–particularly for spouses with children from former relationships. Prenuptial agreements can serve many important purposes. 1. The more obvious purpose—separating marital property from individual property in the case of a divorce. 2. An often overlooked, but equally important function—separating marital property from individual property for estate […]

Published on September 30, 2020

Advance Health Care Directives: The Importance of Making Hard Decisions

Making decisions in your Advance Health Care Directive can be emotionally challenging. Here’s why you should do it anyway. It is not uncommon for clients to feel uncomfortable discussing Advance Health Care Directives. One major reason for creating an Advance Health Care Directive is to tell your family and doctors when you would like to […]

Published on August 21, 2020

Can a Trust Be an IRA Beneficiary?

The Secure Act (2019) has done away with the Stretch IRA and made several critical changes in the treatment of beneficiaries of inherited IRAs. The short answer is yes, though there are important caveats. The Secure Act passed in 2019 (see the full text on congress.gov), changes the treatment of inherited IRAs. The new act […]

Published on July 1, 2020

Estate Planning: Where Do I Begin?

You may be interested in estate planning, but don’t know how to get started. If that sounds like you, this article may offer some valuable insights. Where do I begin? This is a question I get asked quite often, in the context of estate planning. 1. Sit down with an estate planning attorney. Most attorneys […]