Wills And Estates

  • Important Provisions in Your Will

    … property. Prevent this and other estate problems by consulting with an experienced St. Louis estate planning attorney. By accessing the right legal tools, your estate attorney can give your wishes the full force of law—even after you can no longer enforce them yourself. What Provisions Should My Will Include? You can achieve many different goals…

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  • Charitable Giving as Part of Your Estate Plan

    … would you rather do—give money to your favorite charity or give that money (and possibly more) to the IRS? An estate planning attorney can help you select the best options for setting up charitable gifts for your situation. Some ways of gifting include: Charitable trusts – You can form a trust for the purpose of charitable gifts. Upon your death…

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  • Will Considerations When You Have Minor Children

    … or if the surviving parent is unfit, having a responsible and trusted guardian to look after your child is critical. If you are not in a relationship with your child’s parent, you likely want to devise part or all of your estate to your child. However, as a minor, the child will not have the right to control any assets or property until he or she is 18…

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  • Is a Sweetheart Trust Right for You and Your Spouse?

    … The nature of your estate The age, habits, and health of your beneficiaries Your estate planning goals One type of trust that is commonly considered for married couples is referred to as a sweetheart trust. There are many benefits for spouses to form this type of trust, as it is relatively simple and achieves a primary estate planning goal…

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  • The Duties of a Successor Trustee

    … When you form a living trust, you will be able to serve as the trustee and manage your property and assets in the trust. However, once you pass away, someone else will need to take over these duties in accordance with your instructions. When you are choosing someone to act as your successor trustee, you should carefully consider all of the duties…

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  • Is it Time to Update Your Will?

    … and you want to ensure that your personal representative is someone trustworthy and capable of the position. The value of your estate has changed – Dramatic changes in your property definitely warrant revisiting your will. You acquired or disposed of an important asset – You want to ensure the provisions of your will address the property you…

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  • The Estate Planning Toolbox — Part 2

    … can instruct that you do or do not want to be kept on artificial life support or any other wishes in line with your ethical, moral, or religious philosophies. Discuss Your Options and Needs with a St. Louis and St. Charles Estate Planning Attorney All of the above documents should be carefully considered because they will directly affect your own…

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  • The Estate Planning Toolbox – Part 1

    … to the intended party. Property is the owned by joint tenancy passes to the other owner automatically when the other owner passes away, and a beneficiary deed will transfer property to a named beneficiary. Both of these methods avoid property going through probate. Call the Law Offices of Kenneth Carp Today to Speak with a St. Louis Estate Planning Lawyer…

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  • FAQ About Trusts in Missouri

    …. 1 https://www.law.cornell.edu/wex/trust 2 http://www.moga.mo.gov/mostatutes/stathtml/47400000101.HTML The post FAQ About Trusts in Missouri appeared first on The Law Offices of Kenneth P. Carp. …

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  • Will Creation Checklist

    … will only make sure your will is valid and enforceable but also will ensure that you have included all of the terms that you wish to include. Call a St. Louis Estate Planning Attorney Today to Discuss Your Case If you are considering creating a will or engaging in any other type of estate planning, you should speak to an attorney as soon as you can…

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  • Using a Trust to Avoid Probate

    … to beneficiaries. The process can be extremely time-consuming and expensive, as it often involves settling disputes and paying court, attorney’s, and appraiser’s fees. Trust Assets Pass Directly to Beneficiaries While there are many ways to avoid probate, one of the most commonly utilized is placing assets into a living trust, which is simply…

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  • Do You Need to Worry About Estate Taxes in Missouri?

    …. Missouri Estate Taxes In part, Missouri statute 145.011 states that the tax rate “shall be the maximum credit for state death taxes allowed by Internal Revenue Code Section 2011.” In 2005, the IRS ceased to allow any state death tax credits, which brought the Missouri tax rate down to zero. As long as the IRS continues to disallow state credits, there…

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  • Probate vs. Non-Probate Assets

    …, and trailers. Beneficiary deeds for personal property that does not have a title Beneficiary designations on intangible personal property such as retirement accounts, and insurance policies. Property held in trust.2 Non-probate transfers will avoid the timely and public process of the probate court and allow assets to transfer quickly…

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  • How Can I Avoid Probate?

    … a beneficiary to receive the assets at the time of your death. Common examples include life insurance policies, retirement accounts, and bank accounts. Trusts: Your lawyer can help you establish a trust to avoid probate. In these cases, the trust holds your assets and you set the terms of the trust, which control how and when your assets…

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  • What is a Missouri Durable Power of Attorney?

    … A Missouri power of attorney is a document by which an individual can appoint a person to act as their agent. An agent is one who has authorization to act for another person. A power of attorney can authorize the attorney-in-fact to perform a single or multiple actions and is created in accordance with Section 404.710.1 of the Missouri Revised…

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