To some people, estate planning seems entirely unnecessary. They don't have much property or any immediate family members, so they don't see the value in creating an in-depth plan for what happens when they die. Others will potentially make a trust and then think that...
Estate Planning
Revocable vs. non-revocable trust: which one is right for you?
If you are thinking about creating an estate plan, there is a pretty good chance you are wondering if you should set up a trust and, if so, which trust. Just like a will, this estate planning tool allows you to determine what will happen to your assets when you pass...
Why do people add incentive trusts to their estate plans?
Trusts come in many forms and can be useful to people from all kinds of backgrounds and situations. Those who have significant assets and worry about what their family members would do with an inheritance might want to consider adding incentive trusts to their estate...
How do you handle your financial accounts in your estate plans?
Opening financial accounts, such as checking and savings accounts, involves filling out certain forms. One of the forms you’ll complete tells the financial institution who should get the money in your account when you die. That form establishes what’s known as a...
Do you need to put your life insurance in your estate plan?
Not everyone buys life insurance, but those who do are trying to safeguard the future for their family. If something unexpected happens to them, they want to know that their family has that safety net. They can use the money from the insurance policy in many different...
3 questions to ask yourself when creating an estate plan
Many people put off estate planning because they have no idea where to start. While estate plans can be complex, they can also be simple and having even a basic one in place is far better than having none at all. Here are three questions that can help you make a start...
What happens if you die without a will in Missouri?
You determine what happens to your property and to the people who depend on you in the event of an emergency by creating an enforceable estate plan. Some people only draft wills, while others may create comprehensive estate plans that include powers of attorney,...
Making sure a non-citizen spouse is covered in your estate plan
Many people who are married to someone who has not yet obtained their U.S. citizenship delay their estate planning. They assume – wrongly – that a person who isn’t a citizen can’t inherit money. If your spouse hasn’t yet obtained their citizenship – or perhaps...
Remember that life insurance pays before your will
Your life insurance policy beneficiary designations and your instructions in your will need to match. If they're at odds with one another, your will isn't going to actually have any impact on how the money from the insurance is paid out. The life insurance company is...
Choosing the right executor for your estate
In these uncertain times, you want to make sure that you have your estate plans in good order, and that includes making sure that you choose the right executor. Your executor is the person who will ultimately be responsible for making sure that your final expenses...