Thursday, July 19, 2018

Keeping Your Home Out of Probate

By:  Jennifer Boston

Buying a house is probably the biggest and most expensive purchase you will ever make, so it’s important that you ensure that house will be handed down as intended upon your death. There are various methods to transfer your home and avoid probate, such as co-ownership, life estates, and various types of deeds. Two common options for doing this are (1) filing a Beneficiary Deed, which will transfer the property to the designated beneficiary after your death, or (2) transferring your property to your existing revocable trust with a General Warranty Deed.

A Beneficiary deed allows for an owner’s property interest to be transferred on death, to their chosen recipient, without the property getting involved in the time consuming and expensive process of probate. The deed must be filled out, signed in front of a notary, and filed with the recorder of deeds in the county where the property is located.
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Wednesday, June 20, 2018

What About my Belongings?

By:  Jennifer Boston

When creating your will, you may be tempted to include provisions designating who should receive certain items of tangible personal property (things like furniture, jewelry, and collectibles). If you include these specific provisions in your Will and later change your mind or acquire new property, you will need to prepare a Codicil, which is an amendment to you will that may be costly relative to the value of that property.

Instead, Missouri allows for separate Tangible Personal Property Lists to distribute personal items that are not valuable enough to be included in your estate plan elsewhere (Mo. Rev. Stat.

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Wednesday, June 13, 2018

Top 5 Estate Planning Myths

By:  Jennifer Boston

This guide debunks common misconceptions which can lead to trouble for your loved ones down the road.

1.  "I'm not wealthy enough to need an estate plan."

There is no amount of money that signifies one should have a basic estate plan, rather it is something every adult should do. Of course, there is a financial aspect, and it would be a shame if even what you may consider a small estate wasn’t left with the person who you wanted to have it, but there is more to it.

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Wednesday, October 19, 2016

What is a Small Estate Affidavit?

When an individual dies with a very modest estate, there is a simplified procedure that permits that deceased person's personal representative, family or heirs to collect his or her assets without the complexity, time and expense of a formal probate proceeding.  In Missouri, the procedure is known as a Small Estate Affidavit, and this procedure is available when a decedent's assets, net of liens, debts and encumbrances, is $40,000 or less.  R.S.Mo.
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Monday, October 10, 2016

How do I file a claim in a probate estate?

If you are a creditor of a decedent who has died, you will need to know how to file a claim against the decedent’s estate in order to protect yourself and preserve the amount due to you.  Below you will find general guidance about the process for filing a claim in a probate matter pending in Missouri.

Generally, claims must be filed within the earlier of six (6) months of the time that notice of the granting of letters testamentary or letters of administration was published or one (1) year after the decedent’s date of death.  R.S.
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