Personalized Estate Planning For Families In Liberty, Missouri
In families with young children, an estate plan can be the best way to gain peace of mind, just in case something happens to their parents. For over 27 years, I have been dedicating my skills and legal experience to helping individuals and young families in the Greater Kansas City metro area manage their complex estate planning concerns with confidence.
A complete estate plan is more than just owning a will. It may also include a testamentary trust for assets inherited by minor children, as well as a living will and a power of attorney. Guardianships can also be a part of estate plans, where parents appoint a guardian to care for their children if they both pass away. This measure can not only uphold their children’s best interests but also ensure that they will always have someone in their life who will take good care of them – physically, financially and emotionally.
Here at my estate planning firm, Martsching Law Firm, LLC, I will take my time to explain each of these legal documents to you, answer your questions with clarity and help you make informed decisions about your own estate plan in Missouri.
Simple Estate Planning In Missouri – The Benefit To Your Family
The greatest benefit of simple estate planning is to protect your spouse or your children’s future, ensuring that a plan is in place should something happen. If you do not name a person to step in, anyone may petition the court to become the guardian of your child – even a person who may not have your child’s best interests in mind.
Especially in complex situations with difficult family politics, I recommend that my clients appoint a guardian for their children. Having a plan in place does more than protect their children – it guarantees peace of mind should something happen.
A great deal of family infighting can be prevented by talking with an attorney about what is right for you. Ultimately, this saves time, money and stress for you and your children.
Commonly Asked Questions About Estate Planning In Missouri
To help provide families of all sizes with a better insight into Missouri’s estate planning and estate administration laws, here are the answers to four questions I usually get from my clients.
Do I need an estate plan if I do not have a large estate?
Yes, no matter what your financial status in life is, you deserve to leave this world with peace of mind and grace. By creating a comprehensive estate plan that aligns with your specific needs, financial goals and lifestyle, you can safeguard your wealth, minimize your estate taxes, plan for your potential incapacity and leave a lasting legacy for your loved ones.
What happens if I die without an estate plan in Missouri?
If you pass away without leaving a valid will in Missouri, the court will administer your probate assets by appointing a “personal representative” who will seek to distribute your assets by following the state’s intestate succession laws. Under Mo. Rev. Stat. § 474.010, your estate’s primary beneficiaries will depend on whether you have a living spouse, children, parents, siblings or other close relatives; or not.
How often should I update my estate plan?
To ensure that your estate planning documents maintain their authenticity and are up-to-date with state laws, it is ideal to review and update your estate plan with a trusted attorney every three to five years. This practice can help you avoid costly mistakes or legal errors that may lead to inefficient asset distribution or stressful disputes among your family members in the future.
How does a testamentary trust protect my child’s inheritance?
When you establish a testamentary trust through your last will and testament, you can protect your minor children’s financial future. Through this essential legal document, you can ensure that your assets are safely and effectively distributed to your children when they reach certain ages and according to your wishes.
Contact A Skilled Attorney About Your Estate Planning Needs Today
When you reach out to my firm, Martsching Law Firm, LLC, you will have a caring ally and a dedicated lawyer who is ready to support you every step of the way. To discuss your estate planning needs in private, call my Liberty office today at 816-832-2555 or send me an email through my online contact form.