St. Louis Estate Planning Attorney
At TdD Attorneys at Law, we understand the emotional process involved in drafting estate plans. However, crafting a plan is an important step everyone should take to give themselves peace of mind. Without an estate plan in place, you run the risk of having the government decide what happens to your estate.
Why Choose TdD Attorneys at Law LLC?
- Our firm has first-hand experience handling all types of estate planning matters. We can walk you through all possible pathways to help you create a comprehensive plan for the future.
- Our attorneys offer highly skilled services at a reasonable cost. We will work with you to determine an arrangement that works best for your circumstances.
- We know that estate planning can be complex and stressful. Our firm will take the lead on each stage of the process and take care of mundane tasks so that you can focus on what matters most.
Types of Estate Planning Cases We Handle
Estate planning provides you with the peace of mind that your wishes for your estate will be carried out. Through effective estate planning, we will address the following areas with you:
- Will: Establishing a will can set out how to distribute your estate at the time of your death. It can also designate who you would like to care for any minor children left behind.
- Revocable trust: This allows you to maintain control of your assets and helps your beneficiaries avoid probate court. Additionally, you can modify it to reflect changes in your estate plan until the time of your death.
- Tax planning: We can help you and your loved ones avoid or minimize the impact of taxes on your estate.
- Power of attorney: A power of attorney allows you to designate another entity to act on your behalf in the event you become incapacitated. This individual, or group of individuals, may then manage financial, personal or health care matters for you.
- Health care declaration: This helps ensure that doctors respect your wishes regarding medical care at the end of your life or when you cannot communicate them yourself. This commonly addresses such issues as life support and pain and suffering.
- Beneficiary deed: This transfers your property to an individual or entity at the time of your death without using a will, trust or another form of estate planning.
There is no one-size-fits-all approach to estate planning. We will closely examine the details of your estate and your relationships with your loved ones to create a plan tailored to your specific situation.
How Does the Estate Planning Process Work in Missouri?
Estate planning does not have to be complicated. At TdD Attorneys at Law LLC, our lawyers can walk you through a series of important decisions to create a comprehensive plan for your assets. The estate planning process typically follows these steps:
- First, you and your attorney will meet for an initial consultation. We’ll discuss the estate planning process and answer any questions that you may have, such as how to create a will, the different types of trust, and whether you want to establish a power of attorney.
- When you agree to hire our firm for your estate plan, we will begin to prepare rough drafts of certain components. We will then send you these drafts for review.
- Then, we will meet as many times as necessary to review the drafts, discuss any changes, and implement additional instruments like revocable trusts or health care directives. You are welcome to contact our office with any questions, changes, concerns, or requests for additional information.
- Once your estate planning documents are finalized, our lawyers will set up a signing meeting. During this meeting, you will sign the documents in the presence of witnesses as required. If any documents need to be notarized, your lawyer can arrange to have a notary present.
What Happens If You Don’t Have an Estate Plan?
Not everyone leaves an estate plan behind when they die. When this happens, the deceased’s estate will be distributed according to Missouri’s intestacy laws—and his or her family will lose control over these important decisions. With an estate plan, you can bypass this pre-determined plan for your assets and even help your family avoid the lengthy and complex probate process.
Why Do You Need Estate Planning?
An estate plan allows you to map out the fate of your hard-earned assets after your death or in the event that you become mentally incapacitated. It can give you peace of mind knowing that your affairs will be in order and your wishes will be carried out. Your estate plan can allow you to bequeath items or assets to your beneficiaries, allowing them to grieve in peace and avoid the frustration of administering your estate.
With proper estate planning, you will have control over what happens to your assets. You can remain in control of your health care and medical decisions should you become incapacitated and no longer be able to make these choices yourself. After you pass, having an estate plan can help your family avoid a costly probate court process, minimize taxes and ensure that your estate is distributed according to your desires.
When Should I Create My Estate Plan in Missouri?
You should not wait to create an estate plan in Missouri. It is never too soon to craft a legal document protecting your assets and estate. The unexpected could happen at any moment, leaving your loved ones unable to grieve in peace due to legal ramifications or placing your estate in the hands of the state if you did not leave behind an estate plan.
As soon as the age of adulthood – 18 years old – you should consider creating an estate plan that at least addresses primary concerns, such as naming a power of attorney for health care and finance needs and creating a basic will.
In general, it is wise to create an estate plan if you are older in age, have been diagnosed with an illness that could threaten your health or future, or have significant assets that will need to be probated after your death. However, virtually anyone could benefit from having a legal document that plans for the fate of their estate.
What’s the Difference Between an Heir and a Beneficiary?
While the terms “heir” and “beneficiary” are often used interchangeably, from a legal perspective they have two different meanings. In estate planning law, the definition of an heir is an individual who is legally and entitled to inherit assets from a deceased person under the state’s laws of intestate succession.
A beneficiary, on the other hand, is someone who has been selected by the deceased person prior to death in his or her estate planning documents to receive assets or benefits. A beneficiary can be any individual, organization or entity the testator wishes – not just someone who is in line to inherit under Missouri law.
Having an estate plan in place can be critical if you wish to have someone other than your direct heirs inherit part or all of your estate. If you pass away without a will or estate plan, the law will grant your assets to your heirs. With an estate plan, however, you have the power to leave assets to anyone you wish, as well as give clear directions regarding inheritance.
How Often Should I Review and Update My Estate Plan?
It is important to update your estate plan after important life events, such as getting married, having or adopting children, getting divorced, retiring, being diagnosed with a medical condition, moving to Missouri from another state, or experiencing a significant change in assets. Even if there are no major life changes, you should schedule periodic reviews of your estate plan with an attorney to make sure it still reflects your goals and current state laws.
Benefits of Hiring a St. Louis Estate Planning Attorney
Having a comprehensive estate plan in place can help you obtain peace of mind and ensure that your final wishes are carried out. While it is possible to create an estate plan without the assistance of an attorney, this approach is not recommended.
There are many complex legal requirements involved when drafting estate planning documents or establishing trusts. You want to ensure that your plan addresses all of your needs and is tailored to best protect your assets and your family’s interests. An estate planning attorney in St. Louis can provide the support and guidance that you need during this important process.
Your lawyer can ensure that your estate plan documents are up to date and meet requirements set by Missouri law. He can walk you through the different types of estate planning tools and explain the advantages and disadvantages of each option. Then, your attorney can create fully customized documents tailored to your needs and can help you revise them as life circumstances change.
Contact Our St. Louis Estate Planning Lawyers Today
Please pick up the phone today and put your mind at ease. At TdD Attorneys at Law, we realize that estate planning is a difficult subject to address. Our experienced team is ready to assist. Call us today at (314) 276-1318 for an initial consultation with a lawyer in St. Louis, Missouri. You may also reach our team online.