If you live in Missouri and are considering creating a living trust there are a few things you need to consider. The most important one is do you have a Missouri living trust attorney?
The size of your estate should be a consideration as to whether or not you need a living trust. For the greatest tax benefits your estate should exceed a million dollars. In this case a living trust can be an effective vehicle for limiting your estate tax penalty.
There
are, however, other advantages to a living trust that do not require you
to be wealthy. Property in a living trust should avoid the costly
expense of probate court. Property in other states can be included in
your trust thus avoiding probate in multiple states. This can be a
welcome time and money saver for your heirs.
Do you worry
about your beneficiaries fighting over what you were kind enough to
leave them? While a will can be contested a trust should not be. If you
want John to have the cabin north of Springfield, that’s the way it will
be.
A living trust does not replace a will. You cannot include guardianship of children or pets into a will. Any other belongings or property that are not included in your trust should be placed in your will.
In many cases a living trust makes the best sense. You will find more advantages on this page.
If you decide that a living trust is right for you we recommend you pay a visit to this site for assistance. Get your Legal Documents Online for up to 85% less than Lawyer Fees.
More valuable information can be found at NOLO.
Generally
speaking, a living trust is not something you would want to do on your
own. Trusts can become very complicated when you are trying to get the
best tax advantages. Your best intentions, if not done incorrectly,
could send your heirs to probate court unnecessarily. A Missouri living
trust attorney, knowledgeable in estate planning, could easily be worth
the expense. There is just no substitute for the peace of mind of
knowing something this important is done by an estate professional.
We'd love to hear your comments or opinions. Submit them here and other visitors can read them and comment on them. An e-mail address is not required.
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