Category: Trusts

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 25, 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 16, 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 11, 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 March 5, 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 February 4, 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 January 15, 2021

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 December 22, 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 26, 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 20, 2020