When it comes to estate planning, you may not know much about advance directives. These are legal papers that let you detail what kind of medical care you want if you cannot communicate your wishes yourself. Taking a closer look at what advance directives are and how...
Estate Planning
How to avoid beneficiary designation mistakes
One important aspect of estate planning involves naming beneficiaries for your assets. Whether it is a life insurance policy, retirement account or other financial assets, you must use proper practices to designate beneficiaries. You must also be aware of common...
How harmful is undue influence during estate planning?
Estate planning is a process that ensures people distribute a loved one's assets according to their wishes after they die. However, there is a hidden threat that can compromise the integrity of this process, commonly called undue influence. This subtle force can have...
When is it wise to revisit your estate plan?
Estate planning is an important financial step that helps ensure that your assets end up where you want them to end up. However, your circumstances and goals can change over time, making it important to regularly revisit your estate plan. By staying vigilant and...
Nonprobate assets and how they bypass the probate process
A part of estate planning is understanding how an individual’s assets are distributed when they pass. Usually, a decedent’s properties go through the probate process administered by an executor. If there is a will, the executor will distribute the properties according...
Why adults need to plan for incapacity, not just death
Estate planning is a very important act for the protection of an individual and their family members, but it is also a process that many people delay or avoid entirely. Even those who do decide that they need to have a will for the protection of their loved ones or...
Should you include a spendthrift trust in your estate plan?
Estate planning requires people to take a hard, honest look at their situations — and those of their heirs and beneficiaries. As you may come to realize, not all heirs may be able to manage their inheritances with ease. Some people just are not financially savvy...
3 risks people take if they don’t have a will or estate plan
Many otherwise responsible adults in Missouri tell themselves it doesn't matter if they put off estate planning. They want to convince themselves that there is very little risk of them dying anytime soon, so they delay naming an executor, selecting specific...
Choosing an executor for your estate
When it comes to estate planning, selecting an executor is one of the most important decisions you can make. This individual will be responsible for carrying out your final wishes upon death per your wishes and the law. It's essential that you choose someone who has...
4 common questions about estate planning
Before you pass on, it’s recommended that you create an estate plan. Estate plans ensure your wishes get carried out the way you want them to. They can also guarantee financial stability for chosen heirs. If you’re new to the estate planning process, you likely have...