Articles — page 4
- Tips on How to Fix an Outdated Irrevocable Trust Trusts have been used for decades as an effective estate planning tool to avoid the cost and hassle of probate and ensure your assets are properly managed for the benefit of your beneficiaries. There are a myriad of… Read “Tips on How to Fix an Outdated Irrevocable Trust”
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Steps on How to Establish a Revocable Living Trust in Missouri
One of the primary benefits of creating an estate plan is taking a level of control over your future and how your assets will be distributed to your loved ones. An effective estate planning strategy for creating this… Read “Steps on How to Establish a Revocable Living Trust in Missouri”
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Should You Name a Trust as an IRA Beneficiary?
A question asked by some clients is whether they should name a trust as a beneficiary to their Individual Retirement Account (IRA). The answer depends largely on your specific circumstances. There are some potentially… Read “Should You Name a Trust as an IRA Beneficiary?”
- How To Protect Your Estate Plan Post-Divorce It is a common scenario couples find themselves in – you and your spouse create an estate plan leaving everything to each other and then to your minor children. A few years pass and you wind up getting a divorce. You… Read “How To Protect Your Estate Plan Post-Divorce”
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New Law Establishes More Flexibility in Creating a Special Needs Trust
In 2016, the 21st Century Cures Act was signed into law. This sweeping piece of legislation was drafted to help address a myriad of issues in medical research, the advancement of experimental medications, and mental… Read “New Law Establishes More Flexibility in Creating a Special Needs Trust”
- Three Mistakes You Need to Avoid in Creating and Maintaining a Trust Three Common Trust Mistakes You Need to Avoid Incorporating a trust into your estate plan is a good idea. Trusts help you and your family avoid costly and time-consuming probate, can address the special needs of your… Read “Three Mistakes You Need to Avoid in Creating and Maintaining a Trust”
- Estate Planning for Second Marriages Second marriages (and third and fourth marriages) are more and more common every year. I see more and more clients come in who have strong and fabulous second and subsequent marriages with their new spouse. However,… Read “Estate Planning for Second Marriages”
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Should You Incorporate a Qualified Spousal Trust into Your Estate Plan?
In 2011, the Missouri legislature enacted a law that enabled married couples to transfer property to a Qualified Spousal Trust (“QST”) and the property inside the QST would enjoy the same immunity from creditor claims… Read “Should You Incorporate a Qualified Spousal Trust into Your Estate Plan?”
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Making Sure Your Furry Friend is Taken Care Of – Benefits of a Pet Trust
For many people, a pet is like a child. In fact, family pets are often referred to as “fur babies.” Just like a child, there needs to be a plan in place to make sure they are taken care of, in case you suddenly pass on… Read “Making Sure Your Furry Friend is Taken Care Of – Benefits of a Pet Trust”
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Tips on What to Look For When Selecting a Trustee
If you have a trust as part of your estate plan, you will need to select someone, whether it be a friend, family member, or colleague, to serve as the trustee. This is a critical step because the trustee is obligated to… Read “Tips on What to Look For When Selecting a Trustee”