In Missouri, if you die without a Last Will & Testament (will), your assets will be distributed according to state “intestacy” laws. In summary, those laws give your property to your closest relatives, beginning with your spouse and children. If you lack a spouse and children, your grandchildren or your parents will be next in…
When it comes to making as estate plan, financial security for loved ones is obviously a top priority. One often overlooked yet incredibly useful tool for this purpose is the Payable on Death (POD) account, available at many banks and financial institutions. POD accounts offer a straightforward and efficient way to transfer assets to beneficiaries…
In the realm of estate planning, ensuring that your assets are transferred smoothly to your loved ones after your passing is a paramount concern. One valuable tool in this endeavor is the beneficiary deed, a Missouri approved legal instrument that allows for the efficient transfer of real estate upon the owner’s death. While beneficiary deeds…
Yes, probate is necessary unless prior to death the decedent established an estate plan that caused him or her to avoid owning property that must be administered through probate. Once an estate is opened or created in the county where the decedent last resided, probate disputes often arise during the administration of a deceased person’s…
Preparing for the end of your life is one of those things you know you should do, but have you done it? According to a recent survey by Caring.com, a senior living referral service, only 4 in 10 American adults have a Last Will and Testament or a living trust. Maybe you are one of…
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…
The challenge of placing a loved one in a nursing home or residential care facility is a topic none of us look forward to facing. Often, those moments are made all the more difficult when we recognize that our loved one requires a higher level of round-the-clock care that we are not able or qualified…
Following any dissolution of marriage, a wise person updates their estate plan. This step is particularly important if there are children or assets involved. Approximately one-half of marriages in the United States end in divorce, and for most people involved, it is one of the worst experiences of their lives. As a result, many participants…
