I got a couple of weeks ago from Barry. Barry was very concerned that his mother’s trust will be challenged. Mom’s second husband died several years back. Mom and her second husband each had their own children from their first marriages. At the time of the second husband’s death his children received what amounted to his assets and property. Barry’s… Continue Reading
Category Archives: Trusts
Using Incentives in Missouri Trusts
We often talk about using provisions in Wills and Trusts to protect money and other assets that are left to children and other family members. Another function of proper planning is to create incentives for family members left behind. These can be as varied as your imagination allows. You may wish to reward a child… Continue Reading
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Is My Missouri Trust or Will Valid When I Move to Another State?
The general rule is that a Will or Trust is valid anywhere if it is valid “where executed, when executed”. That being said, however, if you are moving from Missouri to another state it is always a good idea to see a competent Estate Planning lawyer in your new state. This is particularly true if you are… Continue Reading
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Living Trusts for Missouri residents – Should You have one?
If you are asking the question, the chances are that you should. Living Trusts are, without question, the most powerful, flexible planning tool that we have. There is no other tool that, if properly used, avoids probate, provides disability management, provides asset protection for children, enhances privacy, and are easy to modify as your situation changes. It… Continue Reading
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How to Avoid Probate in Missouri
We are asked constantly about avoiding probate. There are many ways to do this. What works best for your situation is a very highly individualized matter. Essentially there are two ways. Beneficiary Designations, including Transfer on Death and other similar tools; and Revocable Living Trusts Joint ownership of property also avoids probate provided it is… Continue Reading
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Beneficiary Deeds and Oil Changes in Missouri
Beneficiary Deeds, which are sometimes called Transfer on Death Deeds, can be used to transfer real estate, or at least a partial interest in real estate, on the death of an owner, or sometimes the last death of multiple owners. They can be wonderfully efficient tools in the right situation, and provided they are properly… Continue Reading