Although you have likely heard the term "living will," you may not know exactly what it is. A common misconception is that a living will is the same as the traditional last will and testament. It is not. Nor is a living will like a trust. Instead, a living will is a set of instructions regarding the type of medical treatment you want to receive if you are ever unable to express your desires yourself.The general purpose of a living willThe basic purpose of a living will is to provide specific … [Read more...] about How Do I Know Whether I Need a Living Will?
What You Should Know about Establishing a Trust
One of the primary purposes of a trust is to minimize estate taxes and avoid lengthy and expensive probate proceedings. When it is time to start establishing a trust, including the appropriate terms is important. These terms provide the required instructions for managing and distributing the trust assets. Here is what you need to know about establishing a trust.The three basic steps involved in establishing a trustFirst, a trust is essentially a fiduciary agreement between the person … [Read more...] about What You Should Know about Establishing a Trust
Common Issues that Lead to Probate Litigation
The unfortunate reality is that contesting a will has become quite common. No matter how much you try to eliminate family squabbles about who will receive your estate when pass on, disputes are still inevitable. Will contests are the primary reason for probate litigation. Nevertheless, there are some steps you can take to avoid these disputes. Four basic reasons people contest a willThere are basically four reasons that the validity of a will can be challenged. These legal grounds … [Read more...] about Common Issues that Lead to Probate Litigation
Kansas City Estate Planning Attorney Explains why you Need a Plan
Estate planning provides an important opportunity for you to prepare yourself and your family for death, as well as, the possibility of incapacity during your lifetime. There are many different options when it comes to estate planning. Choosing the right one will depend on your individual goals for the future. Your Kansas City estate planning attorney can help you create the perfect plan.Why it is important to be prepared for incapacityThe legal definition of incapacity is the ability to … [Read more...] about Kansas City Estate Planning Attorney Explains why you Need a Plan
Will Filing Bankruptcy Affect my Retirement Planning?
If you ever find yourself in financial distress, you may consider whether to file for bankruptcy. For most people, when that happens, it is common to be concerned about losing your property. One particular concern is whether bankruptcy will affect your retirement planning? Put another way, you may be concerned about whether you can keep your retirement benefits, which you worked so hard to obtain. Luckily, certain retirement benefits are protected from bankruptcy, depending on how you handle … [Read more...] about Will Filing Bankruptcy Affect my Retirement Planning?
Head Coach for Kansas City Chiefs Diagnosed With Early-Onset Alzheimer’s
If you are a football fan in Missouri, you no doubt know Marty Schottenheimer, the former NFL head coach for the Kansas City Chiefs. He served in that honored position for 10 years before retiring. Sadly, Schottenheimer was diagnosed with early-onset Alzheimer’s about five years ago.The renowned career of Marty SchottenheimerSchottenheimer began his NFL coaching career in 1980, when he was hired as the defensive coordinator for the Cleveland Browns and then became head coach in 1984. He … [Read more...] about Head Coach for Kansas City Chiefs Diagnosed With Early-Onset Alzheimer’s
What an Executor of a Will Needs to Know about Probate
Being asked to serve as the executor of a will is an important fiduciary duty. If you have been selected to administer a loved one's estate, then you should have some basic knowledge about the requirements of estate administration and asset distribution. Here is what the executor of a will needs to know about the probate process.The steps required in probate administrationThe first step in probate requires commencing the court proceedings through filing a petition. The petition should be … [Read more...] about What an Executor of a Will Needs to Know about Probate
Medicaid Attorney Answers Important Questions
Because of the similarities between the two benefits programs, Medicaid and Medicare, many people are confused and have questions about eligibility and benefits. Your Medicaid attorney can answer your questions and alleviate your concerns. 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 … [Read more...] about Medicaid Attorney Answers Important Questions
Why a Missouri Power of Attorney is a Good Thing to Have
A Missouri power of attorney can be used in estate planning in order to select someone to take over and manage your affairs in the event you become incapacitated for some reason. Regardless of whether your incapacity is permanent or merely temporary, a power of attorney can work for you. However, the power of attorney must be designated as "durable," if you want it to remain in effect after you are determined to be incapacitated.What is a Missouri power of attorney?A general power of … [Read more...] about Why a Missouri Power of Attorney is a Good Thing to Have
Knowing Your Rights as a Trust Beneficiary
A trust beneficiary is the person who receives the benefit from a trust, such as trust property or income from the trust. As a trust beneficiary, you may believe that you are at the mercy of the trustee. But, depending on the type of trust, trust beneficiaries generally have rights that are protected by trust laws. Those protections are there to ensure the trust is properly managed for your benefit.What is a trust and how does it work?A trust is an agreement that is based on confidence and … [Read more...] about Knowing Your Rights as a Trust Beneficiary
