Also known as an executor or administrator, a personal representative is Missouri’s name for a person who handles the distribution of an estate throughout the probate process. There are other tasks to complete as well, and understanding the obligations of a personal representative can help through the process. What is…
A will is an essential document in estate planning that allows you to describe how you want your assets and property to be distributed after you die. That’s not all it does, though; it’s an important part of end-of-life planning that can’t be ignored. Dying without a will can have…
Taxes are often a concern among those in the process of estate planning. Nobody wants to burden their loved ones with taxes after their death; similarly, people often worry about their estate being greatly reduced by taxes. Luckily, Missouri is a tax-friendly state for estate planners. Read more to learn…
A trust is one part of estate planning that allows you the option to choose how your beneficiaries will receive assets after your death – and how much. Many people have the misconception that they don’t have enough assets to necessitate a trust, but in reality, trusts can be beneficial…
Many people are hesitant to create a power of attorney (POA) to be included in their estate plans. They think that it will leave them – and their assets – vulnerable to someone else’s wishes, when it actually does the opposite. Learn more about how to correctly utilize a POA…
Although it’s one of the most important things you can do for yourself and your loved ones, an estate plan isn’t always the simplest thing to create. There’s a lot of time, thought, and effort that must go into planning how you want your assets to be distributed, which may…
One of the biggest concerns among those who inherit assets from an estate is what they’ll owe in taxes. Estate tax laws may seem complex because they differ based on where you live, and it’s no surprise that heirs look for ways to avoid inheritance taxes. As a Missouri-based estate…
Creating an estate plan is complicated enough on its own. The last thing that you want is for your plan to create a burden for your heirs. You may be wondering how inheritance taxes may impact your loved ones. Is there an estate tax in Missouri? How much can you…
Creating an estate plan involves a lot of important decisions, but there is often confusion around the different parts that can make up an estate plan. The difference between wills and trusts is often misunderstood, and while both can make for a good estate plan, each is different from the…
Most people know that they should avoid probate, but not why. One of the biggest reasons to avoid probate is to ensure that your assets are distributed according to your wishes. However, when an estate goes through probate, its distribution is left up to the court. Plus, it’s a public…
