On behalf of Hamra Law Firm, LLC | Jun 11, 2020 | 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...
On behalf of Hamra Law Firm, LLC | May 28, 2020 | trusts
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...
On behalf of Hamra Law Firm, LLC | May 12, 2020 | trusts
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...
On behalf of Hamra Law Firm, LLC | Nov 19, 2019 | estate planning, trusts
Opening the conversation about estate planning can be challenging for some individuals. Many people struggle to talk with their adult children about end-of-life concerns, but clear communication about these issues can provide peace of mind for everyone in the family....
On behalf of Hamra Law Firm, LLC | Nov 8, 2019 | 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...
On behalf of Hamra Law Firm, LLC | Jul 3, 2019 | trusts
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...
On behalf of Hamra Law Firm, LLC | Jun 17, 2019 | estate planning, trusts
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...
On behalf of Hamra Law Firm, LLC | Apr 15, 2019 | Firm News, trusts
Like many people in Missouri and elsewhere, the last thing you may want to do is to consider your own mortality. However, you do want to provide for the loved ones you will leave behind. We at Hamra Law Firm LLC understand the considerations that go into estate...
On behalf of Hamra Law Firm, LLC | Mar 27, 2019 | Firm News, trusts
Most estate planning lawyers will try to push you into creating a trust, but the truth is that the use of beneficiary designations and/or wills can sometimes get the job done just as well as a trust would. Additionally, trusts are usually more expensive than Wills and...
