What is a “Pour Over Will”?
A “Pour Over” will is a document that is used as a supporting document in a Trust Based Estate Plan. Trust based plans rely on “funding” or “retitling” of your assets, property, bank accounts, etc. A Pour Over Will is a backup instrument that is intended to take care of anything that was not funded properly, whether…
Read MoreWhat Makes a Missouri Durable Power of Attorney Durable?
A Power of Attorney is “Durable” if it is still effective when the person who signed it is disabled. This person can be referred to by several terms, but we will call that Person the “Principal”. Before the enactment of Durable Power of Attorney statutes, Powers of Attorney generally only carried the authority that the…
Read MoreWills Do NOT Avoid Probate in Missouri!!
Once again last week I got to explain to a client that Wills only work through the probate system. A very, very nice lady came in with her elderly mother’s will. It had been prepared by an out of town firm by a lawyer recommended by a financial planner. The will was simple, but valid. When…
Read MoreBeneficiary Deeds are not always the Best Choice in Missouri Estate Plans
This is a true, but sad story. Mom and Dad owned a farm in North Missouri. Mom and Dad have two basic goals when they go see their lawyer. First, they want to keep the farm “in the family”. Secondly, they want to do so as inexpensively as possible. They have their lawyer prepare prepare…
Read MoreUsing Incentives in Missouri Trusts
We often talk about using provisions in Wills and Trusts to protect money and other assets that are left to children and other family members. Another function of proper planning is to create incentives for family members left behind. These can be as varied as your imagination allows. You may wish to reward a child…
Read MoreKeeping Missouri Real Estate Titles Up to Date
Major life events, such a divorces, deaths, and marriages are always hectic, and they always leave lots of details to be handled. One detail that should not be overlooked is dealing with titles to real estate. After such an event it is important to review with an attorney the most current deeds to all real…
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