Blog Posts and FAQ
How long does probate take?
Most people that I talk to share a story with me about long probate takes. The story usually involves a loved one’s estate being open for several years, costing a lot of money, and the person being very confused as to how the estate was opened or closed.
In MO, for probate purposes, estates are divided by size. An estate with under $40,000.00 in assets that need to be administered through the court is considered a small estate and can be finalized through a variety of relatively quick procedures. Every estate with a value of greater than $40,000.00 typically needs to be fully administered through the court, regardless of whether or not the person had a will.
Once an estate is opened and the required notice is published, R.S.Mo. 473.840 states that the earliest that the estate can be closed and the assets can be distributed is 6 months and 10 days from the date of the publication. In actuality, you should plan on probate lasting at least 8 months from the date of death.
Knowing that probate takes so long to complete, I encourage people to explore estate planning options so their loved ones don’t have to be subjected to a lengthy probate process.
Thank you for reading this. Please don’t hesitate to call me to see what I can do for you.
In MO, for probate purposes, estates are divided by size. An estate with under $40,000.00 in assets that need to be administered through the court is considered a small estate and can be finalized through a variety of relatively quick procedures. Every estate with a value of greater than $40,000.00 typically needs to be fully administered through the court, regardless of whether or not the person had a will.
Once an estate is opened and the required notice is published, R.S.Mo. 473.840 states that the earliest that the estate can be closed and the assets can be distributed is 6 months and 10 days from the date of the publication. In actuality, you should plan on probate lasting at least 8 months from the date of death.
Knowing that probate takes so long to complete, I encourage people to explore estate planning options so their loved ones don’t have to be subjected to a lengthy probate process.
Thank you for reading this. Please don’t hesitate to call me to see what I can do for you.
Should you tell someone about your Estate plans?
People will often ask me if they should provide copies of all of their estate planning documents to their loved ones. I tell them that supplying copies to other people isn’t necessary, but there are a few things to consider.
Since your estate planning documents are generally private and not published anywhere during your lifetime, you should probably take some action to let people know that you have an estate plan somewhere. If you keep your estate plan in a safe at your home, you should probably let someone know there are documents in the safe and how to access them in the case of an emergency. If you rent a safe deposit box at a bank, you might want to verify with the bank that a loved one can access the contents if necessary.
If you have a durable power of attorney and/or a health care directive, you might want to consider providing copies of those documents to any financial institution you have an account at and to your primary care physician.
Since there are time limits for asserting claims in probate court, it is a good idea to make sure that any beneficiary, and particularly a beneficiary who might not expect to inherit something from you, knows that you have made provisions for that person. You don’t want to spend the time and resources required for estate planning only to have an intended beneficiary receive nothing because of a legal technicality.
Thank you for taking the time to read this. Don’t hesitate to call and see what I can do for you.
Since your estate planning documents are generally private and not published anywhere during your lifetime, you should probably take some action to let people know that you have an estate plan somewhere. If you keep your estate plan in a safe at your home, you should probably let someone know there are documents in the safe and how to access them in the case of an emergency. If you rent a safe deposit box at a bank, you might want to verify with the bank that a loved one can access the contents if necessary.
If you have a durable power of attorney and/or a health care directive, you might want to consider providing copies of those documents to any financial institution you have an account at and to your primary care physician.
Since there are time limits for asserting claims in probate court, it is a good idea to make sure that any beneficiary, and particularly a beneficiary who might not expect to inherit something from you, knows that you have made provisions for that person. You don’t want to spend the time and resources required for estate planning only to have an intended beneficiary receive nothing because of a legal technicality.
Thank you for taking the time to read this. Don’t hesitate to call and see what I can do for you.
HE/She/They never said they wanted that...
I often have conversations about probate with people who argue about the distributions of their loved one. People tell me all of the time that their mom, dad, uncle, brother, etc. would have never wanted property to go to this particular child, sibling, cousin, etc. And while I obviously can’t argue with their personal knowledge of their family dynamic, I often find myself giving default answers according to the rules that they don’t want to hear and that I wish I didn’t have to say.
Missouri, like all other states, has rules for distributing your property to your relatives if you choose not to do any estate planning. These rules are created by statute and not open to interpretation from any judge. I’ve heard stories of neglect, loss of affection, alienation, rudeness, and conceitedness toward decedents, but none of them matter when it comes to distribution for someone who doesn’t have an estate plan. No judge or jury can change the fact that even though a particular sibling might not have treated mom or dad with the appropriate amount of respect, that sibling will inherit property just like everyone else.
My advice is to make sure that you have an estate plan in place so that your property doesn’t get distributed according to the rules of the state. I also tell people to review their estate plan every 3-5 years to make sure that they have everything that they want included in it.
Thank you for taking the time to read this. Don’t hesitate to call and see what I can do for you.
Missouri, like all other states, has rules for distributing your property to your relatives if you choose not to do any estate planning. These rules are created by statute and not open to interpretation from any judge. I’ve heard stories of neglect, loss of affection, alienation, rudeness, and conceitedness toward decedents, but none of them matter when it comes to distribution for someone who doesn’t have an estate plan. No judge or jury can change the fact that even though a particular sibling might not have treated mom or dad with the appropriate amount of respect, that sibling will inherit property just like everyone else.
My advice is to make sure that you have an estate plan in place so that your property doesn’t get distributed according to the rules of the state. I also tell people to review their estate plan every 3-5 years to make sure that they have everything that they want included in it.
Thank you for taking the time to read this. Don’t hesitate to call and see what I can do for you.
A Deed of Gift
A deed of gift is a way to transfer tangible personal property that doesn’t have a title upon your passing to the person(s) of your choice. Since a deed of gift is a nonprobate transfer, the property that you list in it won’t get stuck in probate court.
Some examples of personal property commonly transferred by a deed of gift include: coin collections, guns, art, family heirlooms, antiques, tools and other items of market or sentimental value. Call me for any questions you may have regarding a deed of gift.
Some examples of personal property commonly transferred by a deed of gift include: coin collections, guns, art, family heirlooms, antiques, tools and other items of market or sentimental value. Call me for any questions you may have regarding a deed of gift.
Gun Trust
A gun trust, sometimes referred to as an NFA (National Firearms Act) trust, allows Title II firearms to be purchased, held and sold by a trust as opposed to an individual.
A gun trust allows the owner of the trust to name trustees, successor trustees and beneficiaries. Having the firearms owned by the trust instead of being owned by one individual means that if the trustee becomes incapacitated, dies or otherwise prevented from ownership of the Title II firearm, someone else can possess or sell the firearm for the beneficiaries. Call me if you would like to hear more about the benefits of a gun trust.
A gun trust allows the owner of the trust to name trustees, successor trustees and beneficiaries. Having the firearms owned by the trust instead of being owned by one individual means that if the trustee becomes incapacitated, dies or otherwise prevented from ownership of the Title II firearm, someone else can possess or sell the firearm for the beneficiaries. Call me if you would like to hear more about the benefits of a gun trust.
College Student needs
One thing for students preparing to go off to college to keep in mind is that, in addition to the physical separation from their parents, there is also an important legal separation.
Up until the age of 18, parents have almost unlimited autonomy in taking care of their children. They can contract for them, they can access documents on their behalf, and they are generally involved and responsible in all important decision making. Once the child turns 18, however, it is up to the child to inform the parents of those important decisions. Signing a lease, obtaining medical records, dealing with school administration and making important medical decisions are all things that the 18 year old is now solely responsible for. More importantly, without granting permission, no one else can assist the 18 year old in these matters.
This is why I advocate every college student get a durable power of attorney for financial matters and a healthcare directive for important medical decisions.
If something happens to your student and he or she is incapable or having difficulties signing or breaking a lease, obtaining administrative information or dealing with a bank or other financial institution, a power of attorney will allow him or her to designate someone, most likely a parent, to assist in the process and act on behalf of the student.
Similarly, if a medical emergency happens and the student is either incapable of making his or her own medical decisions or incapable of obtaining necessary records, the nominated person can assist the student in all healthcare related issues.
These are powerful estate planning tools and can be revoked or amended at any time. While it is possible that a student might have and never never use a durable power of attorney or a healthcare directive, the alternative of needing one and not having it is far more expensive and could have irreparable consequences.
Thank you for taking the time to read this and please feel free to contact me and see what I can do for you.
Up until the age of 18, parents have almost unlimited autonomy in taking care of their children. They can contract for them, they can access documents on their behalf, and they are generally involved and responsible in all important decision making. Once the child turns 18, however, it is up to the child to inform the parents of those important decisions. Signing a lease, obtaining medical records, dealing with school administration and making important medical decisions are all things that the 18 year old is now solely responsible for. More importantly, without granting permission, no one else can assist the 18 year old in these matters.
This is why I advocate every college student get a durable power of attorney for financial matters and a healthcare directive for important medical decisions.
If something happens to your student and he or she is incapable or having difficulties signing or breaking a lease, obtaining administrative information or dealing with a bank or other financial institution, a power of attorney will allow him or her to designate someone, most likely a parent, to assist in the process and act on behalf of the student.
Similarly, if a medical emergency happens and the student is either incapable of making his or her own medical decisions or incapable of obtaining necessary records, the nominated person can assist the student in all healthcare related issues.
These are powerful estate planning tools and can be revoked or amended at any time. While it is possible that a student might have and never never use a durable power of attorney or a healthcare directive, the alternative of needing one and not having it is far more expensive and could have irreparable consequences.
Thank you for taking the time to read this and please feel free to contact me and see what I can do for you.
What Makes a good Estate Planning Lawyer?
I was recently asked what makes a good estate planning lawyer. It took me a minute to think of a good response because, while I know what makes a quality estate planning lawyer, conveying that to people who have never had any experience dealing with estate planning or probate lawyers is not simple. The point of this blog post is to give you a few things to think and ask about when you’re trying to find a quality estate planning attorney.
1) The “….and wills” lawyer. Have you ever seen an advertisement for an attorney that states that he or she does criminal, traffic, bankruptcy, divorce and wills and trusts? To be honest, I cringe a little when I see it. It isn’t because someone can’t be qualified to practice in all of those areas, but it’s pretty likely that you’re not hiring someone who focuses on estate planning and probate. While it’s great to cast out a broad net when advertising, it seems pretty obvious to me that you’d want to hire someone who focuses on a few aspects of the law as opposed to all of them. Why won’t you see a page on my site or a brochure at my office for bankruptcy, criminal defense or personal injury law? I don’t focus on those areas of the law.
Don’t you also want to hire someone who promotes his or her best skill set? If I asked you to list your strengths, are you going to list your best qualities last? Probably not. If you’re thinking about hiring an attorney that advertises for estate planning as an afterthought, you may want to reconsider.
2) Continuing Legal Education (CLE) credits. In order to maintain a law license in MO, an attorney needs to have at least 15 CLE credits. While 2 of them must be related to ethics and ethical practices, the rest can be on any area of law the attorney chooses. I often attend estate planning and probate seminars for 2 reasons: to make sure that I’m keeping up with the latest and greatest practices and procedures, and because I feel that I owe it to my clients to assist them with their estate planning and probate needs in the best way that I can.
If you’re thinking about hiring an estate planning or probate lawyer, feel free to ask him or her how many CLE seminars he or she attended concerning estate planning or probate law in the past few years.
3) The attorney who offers estate planning services but no probate. Why do I think that an estate planning attorney should also practice probate administration? Because in order for your will to be worth more than the paper it was printed on, it has to be admitted to a probate court within 1 year from your date of death. An attorney who is willing to sell you a will but not willing to assist your loved ones when the time comes to maneuver through the probate process is only doing half of the job. In my opinion, that would be like an auto mechanic installing new brakes on your car and then telling you to go see a different mechanic if they ever go bad.
If you’re in need of an estate planning or probate attorney, make sure you hire someone who has assisted a client through both processes. I know that the will I make for you works because I’ve had my wills admitted through the entire probate administration process.
Thank you for taking the time to read this and please don’t hesitate to contact my office to see what I can do for you.
1) The “….and wills” lawyer. Have you ever seen an advertisement for an attorney that states that he or she does criminal, traffic, bankruptcy, divorce and wills and trusts? To be honest, I cringe a little when I see it. It isn’t because someone can’t be qualified to practice in all of those areas, but it’s pretty likely that you’re not hiring someone who focuses on estate planning and probate. While it’s great to cast out a broad net when advertising, it seems pretty obvious to me that you’d want to hire someone who focuses on a few aspects of the law as opposed to all of them. Why won’t you see a page on my site or a brochure at my office for bankruptcy, criminal defense or personal injury law? I don’t focus on those areas of the law.
Don’t you also want to hire someone who promotes his or her best skill set? If I asked you to list your strengths, are you going to list your best qualities last? Probably not. If you’re thinking about hiring an attorney that advertises for estate planning as an afterthought, you may want to reconsider.
2) Continuing Legal Education (CLE) credits. In order to maintain a law license in MO, an attorney needs to have at least 15 CLE credits. While 2 of them must be related to ethics and ethical practices, the rest can be on any area of law the attorney chooses. I often attend estate planning and probate seminars for 2 reasons: to make sure that I’m keeping up with the latest and greatest practices and procedures, and because I feel that I owe it to my clients to assist them with their estate planning and probate needs in the best way that I can.
If you’re thinking about hiring an estate planning or probate lawyer, feel free to ask him or her how many CLE seminars he or she attended concerning estate planning or probate law in the past few years.
3) The attorney who offers estate planning services but no probate. Why do I think that an estate planning attorney should also practice probate administration? Because in order for your will to be worth more than the paper it was printed on, it has to be admitted to a probate court within 1 year from your date of death. An attorney who is willing to sell you a will but not willing to assist your loved ones when the time comes to maneuver through the probate process is only doing half of the job. In my opinion, that would be like an auto mechanic installing new brakes on your car and then telling you to go see a different mechanic if they ever go bad.
If you’re in need of an estate planning or probate attorney, make sure you hire someone who has assisted a client through both processes. I know that the will I make for you works because I’ve had my wills admitted through the entire probate administration process.
Thank you for taking the time to read this and please don’t hesitate to contact my office to see what I can do for you.
The Perils of "DO IT YOURSELF" Estate Planning
I’ve had several people come to me with questions about what I call “do it yourself” estate planning. I use that term to describe online or store purchased estate planning kits or software. A common example occurs when a person pays a relatively small fee for ready-made will that allows you to fill in the appropriate blanks.
What’s wrong with printing out a ready-made will? Isn’t everyone able to just fill in the appropriate forms? Why should I pay an attorney hundreds of dollars when I can get a kit for $60? Here are a few things that you might want to consider if you’ve asked any of these questions.
1) You only get one chance to get it right. If you fill out a ready-made form for an insurance quote or for the DMV and you make a mistake, you can just fix it and resend it. You can’t do that with your will. A will is ONLY valid after you pass. If it is invalid for any reason, you will most likely never know of its invalidity nor will you ever be able to correct the mistake.
2) You might not know what you need. Estate planning is complicated. I have devoted my career to helping people with it. I don’t advise people unfamiliar with Missouri law, applicable federal law, and the Uniform Trust Code to do their own estate planning. You might need a trust to protect your interests. Maybe you only need a will. A beneficiary deed is probably beneficial to you, but do you know the best person to deed it to? Is there a possibility that your bequests may be set aside to satisfy creditors or statutory exemptions? The point of these questions is NOT to belittle anyone. Estate planning is not about intelligence. It’s about practice and dedication to perfecting plans for every individual’s needs.
3) The people advising you to fill out the ready-made forms might not even know what they’re talking about. If you’re being told to get your affairs and estate plan in order by ordering an estate planning kit, you might want to think about the credentials of the person giving you the advice. Is that person an estate planning attorney or just a financial planner? Does it seem like the person is going to gain financially from you purchasing the kit? If I ever tell you that you need to replace your roof, don’t listen to me. I don’t know the first thing about roofing. Likewise, I would recommend you speaking to an estate planning attorney about any estate planning needs.
4) The difference in cost might be smaller than you think. I would recommend at least speaking to an estate planning attorney and getting a quote before deciding what to do. I even offer free initial consultations. If the difference between an actual attorney and online ready-made forms is only a few hundred dollars, is it really worth potentially risking the future of your loved ones?
5) You can’t ask a form questions. The ready-made forms are not going to talk back to you. They are not going to ask questions to make sure that you’re getting the right forms and doing the right thing. I, however, can and do answer questions. Your estate plan is not just a series of typed pages. It is a complicated service.
6) I know that my documents work. An online kit is not going to be there when your loved ones need to file your will with a probate court. Those companies are not going to be able to testify on your behalf in court should the need arise. I’ve gone through the entire process from estate planning to finalizing a probate estate numerous times.
The analogy that I give to people who are considering purchasing an online kit in order to save some money involves dental work. If you had a toothache, would you go out to the garage and grab the first pair of pliers you could find to cram in your mouth and forcibly remove the tooth? Probably not. You’d most likely make an appointment to see a dentist who regularly assesses problems similar to yours and is trained at removing teeth and fixing toothaches. Would seeing a dentist cost more than the pliers? Probably.
Thank you for taking the time to read this and feel free to call my office to see what I can do for you.
What’s wrong with printing out a ready-made will? Isn’t everyone able to just fill in the appropriate forms? Why should I pay an attorney hundreds of dollars when I can get a kit for $60? Here are a few things that you might want to consider if you’ve asked any of these questions.
1) You only get one chance to get it right. If you fill out a ready-made form for an insurance quote or for the DMV and you make a mistake, you can just fix it and resend it. You can’t do that with your will. A will is ONLY valid after you pass. If it is invalid for any reason, you will most likely never know of its invalidity nor will you ever be able to correct the mistake.
2) You might not know what you need. Estate planning is complicated. I have devoted my career to helping people with it. I don’t advise people unfamiliar with Missouri law, applicable federal law, and the Uniform Trust Code to do their own estate planning. You might need a trust to protect your interests. Maybe you only need a will. A beneficiary deed is probably beneficial to you, but do you know the best person to deed it to? Is there a possibility that your bequests may be set aside to satisfy creditors or statutory exemptions? The point of these questions is NOT to belittle anyone. Estate planning is not about intelligence. It’s about practice and dedication to perfecting plans for every individual’s needs.
3) The people advising you to fill out the ready-made forms might not even know what they’re talking about. If you’re being told to get your affairs and estate plan in order by ordering an estate planning kit, you might want to think about the credentials of the person giving you the advice. Is that person an estate planning attorney or just a financial planner? Does it seem like the person is going to gain financially from you purchasing the kit? If I ever tell you that you need to replace your roof, don’t listen to me. I don’t know the first thing about roofing. Likewise, I would recommend you speaking to an estate planning attorney about any estate planning needs.
4) The difference in cost might be smaller than you think. I would recommend at least speaking to an estate planning attorney and getting a quote before deciding what to do. I even offer free initial consultations. If the difference between an actual attorney and online ready-made forms is only a few hundred dollars, is it really worth potentially risking the future of your loved ones?
5) You can’t ask a form questions. The ready-made forms are not going to talk back to you. They are not going to ask questions to make sure that you’re getting the right forms and doing the right thing. I, however, can and do answer questions. Your estate plan is not just a series of typed pages. It is a complicated service.
6) I know that my documents work. An online kit is not going to be there when your loved ones need to file your will with a probate court. Those companies are not going to be able to testify on your behalf in court should the need arise. I’ve gone through the entire process from estate planning to finalizing a probate estate numerous times.
The analogy that I give to people who are considering purchasing an online kit in order to save some money involves dental work. If you had a toothache, would you go out to the garage and grab the first pair of pliers you could find to cram in your mouth and forcibly remove the tooth? Probably not. You’d most likely make an appointment to see a dentist who regularly assesses problems similar to yours and is trained at removing teeth and fixing toothaches. Would seeing a dentist cost more than the pliers? Probably.
Thank you for taking the time to read this and feel free to call my office to see what I can do for you.