Category: Trusts

How to Choose a Trustee

Selecting your trustee is one of the most important responsibilities you will have as you set up a trust. However, while you may be inclined to select a family member to act as the trustee, it is important to consider the advantages and disadvantages, the responsibilities of your trustees, and how trustees work before you […]

Published on December 20, 2022

What is a Trust Protector? 

As you are forming your Trusts and planning the details of your estate, one of the most important details you may be considering is implementing a Trust Protector. However, if your Trust already has a Trustee, do you really need a Trust Protector?  Understanding the role and responsibilities of a trust protector is essential before […]

Published on December 20, 2022

Qualified Spousal Trusts in Missouri

In Missouri, a married couple’s trust (meeting specific criteria) can provide unique asset protection characteristics. What Is A “Qualified Spousal Trust” (QST)? In Missouri, a Qualified Spousal Trust (QST) allows property owned by a married couple’s trust to be treated as “Tenancy by the Entireties.” What Is “Tenancy By The Entireties?” In Missouri, “Tenants-by-the-Entireties” (TBE) […]

Published on December 13, 2022

What happens if I don’t have a Successor Trustee?

If a Trust does not have any living Successor Trustees, very likely a professional fiduciary would be appointed by the court. However, having your Trust (and beneficiaries) deal with the cost and hassles of the court is not ideal. Here are some helpful considerations. When preparing a Trust, it is wise to have a sufficiently […]

Published on November 16, 2022

Wills vs. Trusts

Take a look at two crucial Estate Planning documents. Learn more about the differences between wills and trusts and which might be more appropriate for your goals.

Published on October 27, 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 12, 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 October 7, 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 28, 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 September 19, 2022