Saint Peters, Missouri Estate Planning And Probate Law Blog
Trust Administration Basics
The process of collecting, managing and distributing trust assets is referred to as trust administration. The trust administration process can be complicated and relies on the trustee to complete several tasks. The trustee is responsible for carrying out all duties...
The tricky aspect of power of attorney and beneficiaries
Many wish to set up a solid future for themselves and their next of kin. While that may be a common sentiment, when it becomes a serious conversation, estate planning often gets involved. Estate planning can require serious thought and careful consideration. After...
Using trusts in estate planning
While many people rely solely on a will for their estate plan, some people find that establishing a trust is a better choice for their estate. As Forbes notes, trusts can be used alone or alongside a will to help your estate avoid probate, plan for taxes and achieve...
How does the SECURE Act affect retirement accounts?
At the beginning of 2020, the SECURE Act was signed into law. SECURE stands for Setting Every Community Up for Retirement Enhancement. Who is affected by the SECURE Act? Anyone who has an IRA, 401(k) or 403(b) account is affected by this law. Basically, people who...
Keeping Your Home Out of Probate
Buying a house is probably the biggest and most expensive purchase you will ever make, so it’s important that you ensure that house will be handed down as intended upon your death. There are various methods to transfer your home and avoid probate, such as...
What About My Belongings?
When creating your will, you may be tempted to include provisions designating who should receive certain items of tangible personal property (things like furniture, jewelry, and collectibles). If you include these specific provisions in your Will and later change your...
Top 5 Estate Planning Myths
This guide debunks common misconceptions which can lead to trouble for your loved ones down the road. 1. "I'm not wealthy enough to need an estate plan." There is no amount of money that signifies one should have a basic estate plan, rather it is something every...
Eight Common Estate Planning Mistakes
Planning for death can be both physically and emotionally challenging so its understandable that mistakes are made. Luckily, any mistakes can be fixed so long as you are alive. This guide explains some of the most prominent mistakes which are commonly made in Estate...
What Should I Do With My Vacation Home?
Ah, the vacation home: a place of relaxation, where your family can enjoy time together and build memories. Inevitably, some of your children will love the vacation home and others will have no interest in using it. How do you balance these interests in planning...
IRS Announces Estate and Gift Tax Exemptions for 2017
The IRS has finally released information on federal estate and gift tax exemptions for 2017. Individuals will have a federal estate tax exemption of $5.49 million (less lifetime taxable gifts) beginning in 2017. The federal estate tax exemption applies both to...
