Trusts are among the most frequently used estate planning techniques for residents of St. Louis and the rest of Missouri. These trusts, however, come in many different colors and sizes. What may be the perfect trust for a well-off family of four may be totally unfit...
Is a charitable remainder trust right for you?
Over your lifetime you may have been committed your time and efforts to various social causes in Missouri or perhaps you went on to get a college education that served you well over the years. Many people in their 50s or 60s who are starting the estate planning...
‘Pour-over’ functions in wills and trusts
Trusts are some of the most powerful tools in estate planning. They provide people with a great degree of control over their property and can be tailored to achieve many purposes, including protecting assets, avoiding probate and providing for loved ones and favorite...
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...
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...
How to talk to your family about your estate plan
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....
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...
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...
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...
