Chesterfield Estate Planning Blog
Understanding the types of trusts
Depending on your goals, trusts may serve as an important tool in your estate plan. However, you must understand the different types of trusts and the benefits of each. Start your research by exploring the primary types of trusts used in estate planning. Revocable...
Why is being specific in a will important?
Some people, by the time they reach their fifties, may have children from one or two previous marriages and a current spouse with children from a prior relationship. This makes it crucial to be specific when dictating your wishes in a will. Specificity is important in...
What estate plan changes should you make before a second marriage?
If you are planning to get married for the second time, then there are some special considerations that you will have to make to your estate plan. You probably know that you should revise your plan before marriage, but when you are embarking on a second marriage,...
Do I need an estate plan?
While most people understand they need a will in Missouri to plan for what happens after they die, many do not understand the importance of an estate plan. While a will can be a great start, having a full plan is even better. Most people can benefit from having one,...
A life insurance trust protects your child’s future
As a new parent in Missouri, you have probably already considered purchasing a life insurance policy to provide for your child in the event that you die while he or she is still a minor. However, you may have limited control over how your child receives the payout. At...
Do you need a will if you are married?
The idea of planning for what happens after you die may not be exactly fun to think about. However, planning ahead is going to be very helpful to your family. While it will not affect you one way or the other, it can save your family from many headaches and legal...
What is probate?
You have probably heard people talk about probate before in Missouri. People often moan and groan about it. Probate is not a bad thing. In fact, the whole idea behind it is to protect you and your estate when you die. So, it is not something horrible, but it can take...
What can you accomplish with an irrevocable living trust?
Most people across Missouri who work on their estate plans do so with a similar goal in mind: maximizing how much of their wealth they can leave behind for their loved ones. While there are numerous different steps you can take in your efforts to accomplish this, one...
How to prevent will contests
You can expect emotions to run high for your beneficiaries when you die. While it is normal for them to feel sad or have questions about your estate plan, the last you want to happen is for someone to legally challenge the will. Will contests can drag on for years and...
The definition of a fiduciary and why it is important
Whether you are preparing to take on the duties of an estate executor or if you are the beneficiary of a Missouri estate, you should understand the concept of a fiduciary. In some cases, an executor is challenged in court for not fulfilling a “fiduciary” duty. Being a...
