Chesterfield Estate Planning Blog
Who can contest a will in Missouri?
When a person dies, they often leave behind a will that details how they want their assets distributed. This document is a legal document that lists the names and organizations that will receive certain assets. Most of the time, this document is a valuable piece of...
Why are some wills contested?
A carefully organized and executed will is a powerful tool in a Missouri resident’s estate plan. A personal will provides important instructions and information to individuals about how a decedent wished to distribute their assets after their death. When a will is...
New laws and their effect on trusts
Missouri residents may have missed the news that the Internal Revenue Service has pronounced a new tax rate for certain gifts, specifically those under s.7520. For May of 2020, the rate is 0.8%—this amounts to a full 73% decrease from February of the same year. This...
How a charitable trust helps you give back
If you are considering using all or part of your estate to financially support a cause that is important to you, the best way for you to do that is to include a charitable trust in your estate plan. A charitable trust may sound like something that only the very...
What makes a will valid?
Wills commonly serve as a cornerstone for an overall estate plan. Because of how important a valid will is, it is equally important for estate planners to know what makes a will valid and the requirements their will must meet. There are several requirements wills must...
The benefits of including a trust in your estate plan
Trusts are a useful estate planning tool for estate planners to be familiar with. Trusts can help estate planners manage their property during life, at death and can also help estate planners avoid the costly and time-consuming probate process. Trusts can be used...
Adding trusts for a comprehensive estate plan
Missouri residents often create a will, ensuring their loved ones and favorite charities receive real estate, jewelry and other assets after their death. Without a will, the estate goes to probate, and the court distributes property as it sees fit. Although this is an...
What type of trustee should you appoint?
As you prepare to create your will or trust, it is time to choose an executor or a trustee. When you think about executors and trustees, how can you choose someone that is right for the job? The decision can be a difficult one and one to take seriously. AARP has tips...
Is estate planning only for elderly parents?
Individuals of any age stand to benefit from creating an estate plan because it provides a family with guidelines for what to do in an emergency. Oftentimes, estate planning for elderly parents occurs when it is too late. An older parent may have already suffered from...
3 essential estate planning tools
According to CNBC, only 18% of people age 55 and older have planned for their future with three basic estate planning tools: a will, a durable power of attorney and a health-care directive. We have helped Missouri residents create estate plans that meet their...
