A living trust is a common estate planning tool for many clients. Creating a living trust has become a way to avoid the time and expense of probate. If you are considering including a living trust as part of your estate plan, you should know more about the living trust benefits you can expect.What is a living trust and how does it work?A "living trust" is a type of trust that becomes effective during your lifetime, as opposed to being established by your will upon your death. As with other … [Read more...] about Living Trust Benefits You May Not Know About
Whether you are a small business owner or not, asset protection is something to consider as part of your overall estate planning. Anyone can be at risk of facing a legal judgment or creditor at some point. The best move is to be proactive and put protections in place early for your assets. That is why an asset protection plan should be included in your goals. Asset protection strategies are widely varied, so discussing your options with your estate planning attorney before settling on any … [Read more...] about Asset Protection Strategies to Avoid
For anyone who has a loved one with special needs or a disability, a special needs trust is something very useful to consider as part of their estate plan. A special needs trust can be used in order to provide resources for your loved one so you can be sure to continue providing their support and care in the case of your death or incapacity.What is a Trust?The basic purpose of a trust is to protect the assets you place in trust for the future benefit of your heirs or beneficiaries. Using a … [Read more...] about Do I Need a Third-Party Special Needs Trust?
Though most of us have heard the term "power of attorney," few know what a power of attorney is and what it can do. Not every power of attorney functions the same way and some types are better suited than others, depending on your needs. Here is what you should know about a Missouri power of attorney for Kansas City residents.The basic definition of a power of attorneyA Power of Attorney is a legal document that authorizes one person, referred to as the agent, to act on behalf of another, … [Read more...] about Kansas City Missouri Power of Attorney Varieties
Although many clients seek an estate plan that will help them avoid the probate process, most clients do not really understand what the probate process actually involves. One misconception is that avoiding probate means eliminating estate taxes. Another misconception is that your estate only goes through probate if you die without a will. If avoiding probate is really what you want, you should first know what you are avoiding. Once you have decided, here are four methods for getting it … [Read more...] about Four Tricks for Avoiding Probate
An estate planning attorney has many tools in his arsenal. A power of attorney is one of those invaluable tools. Every power of attorney is unique and should be drafted specifically to accomplish the needs of each client. Each power of attorney also has its own terms and limitations. But what is a power of attorney, exactly?The legal definition of a power of attorneyA power of attorney is a legal document that gives one person the authority to act on behalf of another. The “principal” is … [Read more...] about What Exactly is a Power of Attorney?
Have you created your retirement plan yet? It's probably not too late to start. If you want a comfortable retirement, you can't simply rely on your Social Security benefits. Instead, you must plan ahead and create a comprehensive retirement plan that will meet your future needs and allow you to relax comfortably in your golden years. Individual Retirement Plans (IRAs) are an easy way to start your plan while saving and investing in your future.How an IRA works in retirement planningAn … [Read more...] about Planning Your Retirement with IRAs
If you are caring for a senior in Missouri and you notice a change in behavior or ability to complete daily tasks, it may be time to consider establishing a Missouri guardianship. Some common signs that your loved one may need formal assistance include trouble remembering to take medication or pay bills and disorientation. Planning for the possibility that you will need a guardianship is always preferable to frantically searching for a solution after your loved one has become legally … [Read more...] about Knowing when it’s Time for a Guardianship
Many clients have questions about Medicaid and Medicare, often confusing the two benefits programs. Although they are both established by the federal government and both provide healthcare-related services, there are some major differences between Medicaid and Medicare. The primary difference is that Medicaid is state-run, whereas Medicare is entirely federal. Missouri Medicaid provides coverage for eligible individuals who meet the needs-based requirements.What is Medicaid?Medicaid is an … [Read more...] about The Differences between Medicaid and Medicare
According to a recent article, director of Kansas City Regional Arts Council, Paul Tyler, retired in May after 14 years. As director, Tyler worked diligently to create relationships between individual artists and the organizations that support them. In the article, Tyler was said to have based his work on the web of cultural institutions and strong community connections that already existed in the Kansas City area.“There’s deep, deep roots to the creativity and the energy that we currently … [Read more...] about Director of Kansas City Regional Arts Council Retires