Category: Trusts

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

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 August 21, 2020

How Do I “Fund” My Trust?

Funding a Trust is like putting apples in a basket. Once you have signed your Trust document, it will need to be funded with assets to be legally effective. The creation and subsequent funding of a Trust is something I like to compare to picking apples. Just think of your Trust as a basket and […]

Published on November 26, 2019

Special Needs Trusts in Missouri

Learn how to maximize benefits for loved ones with special needs. Special Needs Trusts maximize benefits and resources for beneficiaries with special needs. The Trust’s language preserves the beneficiary’s eligibility for benefits provided by outside organizations, such as state or federal needs-based programs (e.g., Supplemental Security Income & MO HealthNet). Any income/assets from the Trust […]

Published on October 2, 2019