When created properly, a power of attorney, (hereinafter, “POA”), is a legally binding estate planning document that provides its creator (principal or grantor) the important ability to appoint one or more people to act on their behalf in areas such as managing property, making medical decisions, or addressing financial affairs. Alarmingly, approximately 50% of American…
By now you should be considering the establishment of an estate plan. Yes you…even you need an estate plan. While the term “estate” may sound ostentatious and unnecessary to many, the truth is every Missouri senior adult can benefit from an estate plan regardless of their wealth. An estate plan simply communicates the grantor’s wishes…
Americans love their pets. The American Veterinary Medicine Association (AVMA) reports that approximately 85 million American households have one or more dog, cat, bird, or horse, representing approximately 157 million pets. That number excludes specialty and exotic pets like fish, rabbits, rodents, reptiles, poultry, and livestock. Pets are often cherished, loved, and treated like family…
Growing older is not the blessing some expected, nor is it the curse others feared. It likely falls somewhere in the middle. But, according to a 2009 Pew Research Center report, older adults do report experiencing fewer of the benefits of aging than they expected, such as spending more time with family members, traveling more…
For those senior adults with unmanageable debt and few assets, filing for bankruptcy may be a viable option to reduce those overwhelming financial concerns. Bankruptcy is a legal process wherein debt is discharged or managed through court order when a qualified senior is unable to repay debts. In summary, bankruptcy is a life preserver for…
The 2023 property tax season was busy in Missouri in that assessors statewide sought to raise assessed values to reflect the unusually high market conditions brought on by the current federal administration. With values higher than normal (some doubling and tripling in value), taxpayers who own real property are left holding the bag. Todd Miller…
When creating your estate plan, it is important to understand the difference between probate and non-probate assets. Probate assets are those subject to court administration in a process through which a court determines how to distribute your property after you die. Some assets are distributed to heirs by the court as probate assets while others…
According to the World Health Organization, people worldwide are living longer. As a result of plentiful food supplies, improving healthcare options, and modern technological conveniences, most people can expect to live into their sixties and beyond. Every country in the world is experiencing a growth of older people. In 2020, the number of people aged…
Forbes Advisor asked nearly two dozen financial and real estate experts whether a primary residence was a good investment. Several of the respondents, 57%, said that buying a house is a good investment, while 38% said it depends on certain factors. The remaining 5% indicated that buying a home is not a sound investment. For many,…
http://www.toddmillerlaw.com Seniors are not immune to the collapsing state of marriage in America. Divorce among senior adults is often referred to as “gray divorce.” According to the National Center for Family & Marriage Research at Bowling Green State University, the divorce rate for couples over 50 doubled from 1990-2009. For adults 65 and older, the…
