January 2015 Archives

Helping resolve probate issues in St. Charles, Missouri

Many people in St. Charles, Missouri, may think estate planning is only for the wealthy, which, to say the least, is not true. In fact, the lack of a comprehensive estate plan often leads to probate disputes, most often among members of the deceased's family. Sadly, even with a sound estate plan, probate issues, which may lead to probate litigation, arise, especially if the estate's value is high.

How does a revocable living trust affect income and estate taxes?

Many Missouri residents are aware of the advantages of creating a revocable living trust as part of an estate plan. Residents with questions may visit some earlier posts on this blog, which cover a number of aspects related to forming trusts in Missouri. While some questions may pertain to creating a trust, others may concern trust administration.

Three must-have estate planning documents for Missouri residents

Estate planning is one important area of financial planning that is often, knowingly or unknowingly, ignored by many Missouri residents. The reasons for the failure to have a comprehensive estate plan in place are many but that does not justify the lack of it. In fact, estate planning is one task that every individual must complete before death, irrespective of how much that person's assets are valued or how difficult it may be to discuss death with family members and friends.

Who can be guardian and conservator according to Missouri law?

Estate planning could be considered a necessity in cases where a large estate needs to be looked over in detail. It is especially important in cases when the heir is a minor or a disabled person, and not necessarily capable of managing or dispensing the duties and responsibilities associated with a large estate. Therefore, in place of the minor or the disabled overseer, Missouri law may require that a guardian or conservator be appointed to oversee the administration of the estate.