We started hearing about grey divorces from the lives of politicians and celebrities. The recent announcement by Bill and Melinda Gates reinforced the trend of people divorcing after the age of 50 years. It’s not only the rich and famous becoming “Silver Splitters;” it’s also the everyday husband and wife calling it quits. This article focuses on how Diamond Divorces affects estate planning. Read More
What is Wealth Management?
This article focuses on advanced estate planning and asset protection for affluent families. Over 65 types of trusts exist in estate planning. Each trust serves a different need or purpose. One type of estate plan may fit for one individual or family; yet may not be the best solution for another. Most are familiar with the terms Last Will and Testament or a Living Trust. Wills and Living Trusts provide a Read More
What is Elder Law?
People often ask the question, “What is Elder Law?” Before diving into the areas of elder law, I have to say that the state of Missouri does not recognize specializations. However, does this mean that a client should not research the attorney who focuses on this practice area of law? Absolutely not! Let’s take a look at what is elder law and why one needs an experienced attorney in the area of elder law. Defining Read More
What Ifs in Estate Planning
Made with Visme Infographic Maker There are the What Ifs to consider for estate planning. What if I have children and die? What if someone wants grandma's wedding ring when I die? What if I have incapacity? The What Ifs exist but aren't always pleasant to think about. Still, it is the what ifs that make it important to put an estate plan in place. Estate Plans for Family Why do you need an estate plan as a Read More
What is a Third-Party Special Needs Trust?
What is a Third-Party Special Needs Trust (SNT)? A Third-Party SNT is an estate planning tool that helps provide a quality of life. Often family members desire a way to provide for a child with a disability. Parents with child who has a disability should consider taking an extra step in estate planning and think about setting up a third-party special needs trust for your child. Why Consider the Third-Party Read More
What Happens to My Child If I Die?
What Happens to My Child If I Die? As a parent, it is difficult to think of someone who can raise our children in our place. Yet, planning for guardianship of a child is one of the most important decisions a parent can make. If a parent does not have a parent guardianship plan in place, the State has a plan. How do you make a plan? What is Guardianship? Guardianship of Minors is different than Guardianship of an Read More
Estate Planning Myths
There are times when people seek legal counsel for what they perceive is the easiest or cheapest form of estate planning. I receive calls from older parents who consider just adding children to bank accounts. Myths about Last Wills and Testaments and estate planning exists and needs addressing. MYTH #1 NO NEED FOR A WILL One of the most dangerous misconceptions is the myth that estate planning exists only Read More
Personal Injury and Special Needs
What happens if a person with special needs is injured? What happens when that person receives a settlement and is on government benefits? When should a person consider a First-Party Special Needs Trust? Estate Planning is especially important when the loved one relies on access to state services or government benefits. Government Benefits People with disabilities who receive Supplemental Security Income (SSI) Read More
Elder Law and Medicaid Planning
What is the role of Medicaid Planning in Elder Law? Often Adult Children of aging parents walk into my conference room concerned about their parents' financial health care expenses, long-term care needs, mental capacity, and a lack of financial resources. Adult children want solutions. Every family circumstance is different. Often, the solution involves Medicaid pre-planning or a crisis plan. Let’s review the role Read More
Seniors and an Estate Plan
Seniors Need An Estate Plan Why do Seniors need an estate plan? Seniors require extra elder care in estate planning. Seniors lacking appropriate estate planning hinders the spouse and family’s inability to provide necessary support and to navigate major changes in life.Recently a family scrambled to care for an aging father with an onset of dementia and a mother with progressed dementia. There is no estate plan, no Read More
