George called my office this afternoon. His sister, Billie had been appointed as the Personal Representative of his mother’s estate a week ago. According to him Mom had a “simple will” leaving everything to her three children equally.
Missouri Estate Planning Blog
The Missouri Estate Planning Blog, published by Richard J. Herndon, focuses on estate planning issues specific to Missouri law. It covers topics such as the use and risks of Beneficiary Deeds, the importance of properly funding living trusts, and the implications of adding family members to real estate titles. The blog discusses practical estate administration challenges, including probate avoidance strategies, life insurance beneficiary designations, and managing inherited property. It emphasizes trust-based estate plans as alternatives to wills and beneficiary deeds, highlighting potential tax, liability, and family conflict issues. The content aims to guide individuals through estate planning decisions and the legal consequences of various property transfer methods in Missouri.
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Latest from Missouri Estate Planning Blog
Another Missouri Beneficiary Deed Failure
We’ve written and posted several times about the inherent dangers in relying on Beneficiary Deeds (also known as “Transfer on Death Deeds”) to transfer title in Missouri.
Beneficiary Deeds, in the proper circumstances, present a very inexpensive and efficient method…
Missouri Living Trusts and Life Insurance Beneficiaries
A major part of establishing a Trust Based Estate Plan is the “funding” of the Trust. Oversimplified, this involves the re-titling of assets such as bank accounts, real estate and brokerage accounts. It also involves dealing with Life…
Funding your Missouri Living Trust
Creating a Revocable, or Living Trust in Missouri is basically a two step process. The first, and most easily understandable, is creating the Trust document itself. This is done after discussing all options and carefully putting together the instrument, and…
Missouri Beneficiary Deeds – What Happens with the Owner Dies?
We have written blogged several times about Missouri Beneficiary Deeds — the good, the bad, and the ugly. We ran into a new situation recently. A divorced dad died a few months ago and left his house…
Preventing Fighting over the Funeral in Missouri
A sad situation presented itself a few weeks ago. A funeral director was demanding that all the children of a recently deceased client consent to a cremation. One of the children was out of the country permanently, and could not…
A Missouri Beneficiary Deed that Failed
A good friend and client just became the victim of a poorly conceived Estate Plan involving a Missouri Beneficiary Deed. Fortunately I wasn’t the one who advised that be used. Unfortunately I wasn’t asked to, because I would have…
Challenging the Validity of a Missouri Trust
I got a couple of weeks ago from Barry. Barry was very concerned that his mother’s trust will be challenged. Mom’s second husband died several years back. Mom and her second husband each had their own children from their first marriages. At the…
Everybody in Missouri Should have a Durable Power of Attorney
Everyone in Missouri who is age 18 or over should have a Durable Power of Attorney. It doesn’t matter is you have $10 million or just $10. Most of us will be disabled sometime during our life, and will…
Final Instructions to Loved Ones
An often overlooked matter in Estate Planning is leaving instructions to loved ones as to final arrangements, the funeral, burial, and related matters. This is likely the case because we get focused on stricly legal and financial matters – which is a…