There are many misconceptions about the Missouri probate process that often result in clients having the wrong estate planning goals. The main goal of your estate plan should be to preserve your estate for your family. Each state has its own procedures when it comes to probating an estate. For that reason, it is important for Missouri residents to be familiar with the probate process. That includes knowing the truth about many of the common myths surrounding probate. Here, our Kansas City … [Read more...]
After Recent Storms in Kansas City, Do You Have a Farm Disaster Plan?
The recent bad weather in the Kansas City area, not to mention the extreme and unprecedented weather everywhere, serve to remind us to have a weather plan in place, not just for our homes and our families, but a farm disaster plan as well.Severe weather throughout Kansas and MissouriAs the storms rolled through Kansas City, Missouri, ripping up trees and tearing the siding off homes, there were severe weather and tornado warnings everywhere. As a line of severe thunderstorms formed, the … [Read more...]
Overland Park Estate Planning Attorneys Explain the Goal of Estate Planning
Estate planning is one way to prepare yourself and your family for death and even for the possibility of incapacity during your lifetime. There are several different options when it comes to estate planning tools. Which ones are best for you will depend on your unique goals for the future. As your Overland Park estate planning attorneys, we can help.Estate planning can help you be prepared for possible incapacityThe legal definition of capacity is the ability to comprehend the consequences … [Read more...]
Can I Retire Now?
Are you more worried than excited about the idea of retiring? You don’t need to be. The most common concern is whether you have saved enough to be able to retire safely and comfortably. So, if you are wondering – can I retire now? Here are the most important things you need to consider to start saving and to be sure you have an appropriate retirement plan in place to secure your future.You first need to have reasonable retirement goalsOne of the first issues that arises for clients when … [Read more...]
6 Important Facts about Missouri Guardianship
Unfortunately, there may come a day when a parent or other loved one suffers an illness or injury that leaves them unable to care for themselves without assistance. While it may not happen to everyone, if that time does come for you, you should consider a Missouri guardianship. Here are six important facts about Missouri guardianship that can make the decision easier.No. 1 - A guardianship is established through the courtCreating a Missouri guardianship requires a formal court procedure. … [Read more...]
Medicaid Lawyer Discusses a Medicaid Compliant Annuity
Far too many people believe that they can simply transfer or give away their property to someone else, before applying for Medicaid benefits. The truth is, if you do that at any time within five years of submitting your Medicaid application, a period of ineligibility will likely be imposed. In other words, as your estate planning lawyer will tell you, you cannot receive any benefits until that period is over. With proper planning, you can retain control of your assets and still qualify under … [Read more...]
Why Do I Need a Durable Power of Attorney?
When you are contemplating which estate planning tools to use, be sure to consider a durable power of attorney. This important tool allows someone else to take control over and manage your affairs in case you are ever incapacitated for any reason. It does not matter whether that incapacity is temporary or permanent. It is important to remember to specifically designate the power of attorney as “durable” so that it will remain in effect once you become incapacitated.The purpose of a power of … [Read more...]
Should I Use an IRA in My Retirement Planning?
If you haven’t started working on retirement planning yet, you still have time but you should get started now. To have a comfortable retirement when the time comes, you should not simply count on your Social Security benefits. Instead, you should create an appropriate retirement plan to meet your future needs and give you the comfort and security you will need in your golden years. One of the best ways to start your plan is to establish an Individual Retirement Account (IRA) to help you save … [Read more...]
What You Should Know about Creating a Will
The most common advice for people considering estate planning is that you need a will. Without a will, your state’s laws regarding inheritances will determine who receives your property upon your death. More importantly, a judge who knows nothing about you or your family will decide who will take care of your minor children. So, when you decide that you are ready to start your estate planning, here is what you need to know about creating a will.The essential requirements for creating a … [Read more...]
6 Things You Should Know about a Revocable Family Trust
No matter what your economic status may be, having an estate plan is a great idea. For people, fortunate enough to have established significant wealth for themselves and their families, it is certainly important to have a plan. One way to protect your family's future is by creating a revocable family trust. Your estate planning attorney can help. Before you get started, here are six things you should know about a revocable family trust.1. Why you should include a revocable family trust in … [Read more...]
