Estate Planning Lawyer St. Charles MO

An estate planning lawyer in St. Charles, MO from Legacy Law Center is accustomed to answering questions about estate plans. And it’s only normal for people to wonder whether they need to write an estate plan, or not. Unless you want the court to oversee and manage your assets after passing away, then you’ll need to start writing an estate plan now. Here are examples of questions clients may ask us during an appointment with our team: Moreover, there are reasons why a will is not only important to get done on time, but also why it is important from a moral standpoint as well.  When it comes to aspects pertaining to a will, it is important to plan ahead of time.  One of the reasons why this is the case, is because there are times, where someone knows that they are going to pass away. Some examples of this include old age, stage 4 cancer, etc.  In these instances, it is essential for the loved one who is passing to discuss the importance of a will, before he or she passes. This could include factors such as giving away finances, giving away gifts or other cherished goods, and more.

• Why Should I Write a Will?
• 4 Reasons to Make a Will
• 4 Reasons to Make a Will infographic
• Call Us Today

Why Should I Write a Will?

A last will and testament can help you protect your assets and loved ones. You can use a will to name guardians for minor children, leave property to people or charity, appoint someone to handle your final wishes, and so much more. The purpose of a will is to leave behind terms for how you want your belongings, money, and other assets to be distributed to those you care about the most.  Moreover, there are different reasons, as to why writing a will is important, in relation to the fact that it comes from a personal place.  When it comes to the people who end up writing a will, there is a strong aspect that should be focused on, in relation to the emotional core that should be brought forth.  For example; people often write a will, when it comes to the acknowledgment that they are dying, that they are in danger of having cancer that might go to stage 4, something that is incurable, and more.  These are some of the major factors that are often focused on, when it comes to the aspects pertaining to why one chooses a will.  Moreover, when it comes to the reasons why someone should write a will there should also be a focus on how family members will be affected as well. For example; when one writes a will (such as for an estate), some of the questions that should be asked, should be as follows: 

• Who am I writing a will to?  
• How would these aspects tie into an estate?  
• How far ahead am I in writing the will? 
•  What does the will mean? 
• How will the will impact my family? 

These are some aspects that should be taken into consideration.  

Are There Requirements For Making a Will?

To establish a will, you must be of sound mind. Essentially, you must be in a state of health that allows you to make reasonable judgements. You have to be 18 years or older, or have been emancipated by court order of active military duty or marriage. Your will can include wishes pertaining to disposing of personal property, whether you want to be a candidate for body donation, and more. One of the reasons why one must be 18 years or older to make a will, is because of the responsibility that a will contains.  For example; due to the process that one must go through when it comes to work, such as those through a will, the process would likely be more difficult to go through, for an 18 year old.  Legally they would be an adult, but since they may have more difficulty dealing with something that is such an in depth process, parents may need to step in to assist.  

Can a Will be Stated on Video or Audio?

As your MO estate planning lawyer in St. Charles can explain, your wishes must be written on paper and signed and witnessed based on law. Some states do allow nuncupative wills, but only under limited situations. To make an oral will valid, you have to create it while under imminent peril of your life and have succumbed to that peril by death.  Moreover, video and audio can be more effective for a will, then a written will.  One of the reasons why this might be the case, is because video and audio, help a person to see and/or hear the emotion, behind a person’s will to leave money behind, their emotional state and how they want to be remembered, and more. 

What if I Die Without a Will?

If you die without establishing an estate plan, then property will be distributed based on state intestacy law. What this means is that your property will be transferred to relatives, starting with who is still alive and closest to you in relation. Your children, parents, and grandchildren may be first to receive property, and then the list goes on outward to more distant relatives, such as siblings, aunts, uncles, etc. Any living person related to you to the ninth degree may be awarded a portion of your estate. If the court finds that you have no relatives to the ninth degree by blood or marriage that are still alive, then they will take the property.

Writing an estate plan can be made easier by having a reputable lawyer on your side. If you have a question about estate planning, don’t hesitate to reach out to our estate planning lawyer in St. Charles, Missouri from Legacy Law Center for more information!

4 Reasons to Make a Will

Many people do not like thinking about their own demise, which is understandable since it does bring warm and fuzzy feelings. The only problem is that it can keep people from planning their estate or creating a will because they don’t really want to think about it. However, it is wise to take the time and consideration to plan for your future and the future of your family. An estate planning lawyer St. Charles, MO residents trust from Legacy Law Center can guide you through and provide legal advice. Contact us today to schedule an appointment. 

1. Have a Plan
   

   There are more situations than death that could arise that you can plan for as part of your will, which will be helpful for your family so that they know your wishes if you are in a condition where you are unable to communicate them. Your will can detail your wishes for any foreseeable circumstances so that you will have a plan in the event that you’re unable to take care of these things on your own.

2. Protect your Money
   

   If you don’t have a will when you die, much of your assets and money could go to the state, losing money for your loved ones that they may need, especially if they are used to depending on you for an income. If you want to have a say in where your money goes when you are no longer in need of it, then it is recommended that you create a will with the help of a St. Charles estate planning lawyer.

3. Peace of Mind

   Even though creating a will isn’t fun to do and feels like a difficult process, having a will set in place can give you peace of mind that you are prepared for whatever the future may hold and that your family will be taken care of. You may not be excited about it, but getting your will planned and done with could help you rest easy knowing that it’s done and ready and just in case.

4. Protect your Family

   It feels unfair, but in some states and situations if you don’t have a will to determine the beneficiaries for your money and assets your family may lose a lot of money to the state. Because of this it is important to protect your family by ensuring that they will get as much as possible. Even if you don’t have a family to look out for, you may want to consider charitable donations for organizations that are important to you – instead of the state taking most or all of your assets that you leave behind.

4 Reasons to Make a Will infographic

St. Charles Estate Planning Statistics

According to a study conducted by Caring.com, less than 35 percent of Americans have a will in place. This statistic shows that the vast majority of Americans do not have a will, even though having a will is an important part of estate planning. A will is a legal document that outlines your wishes for your property, assets, and care in the event of your death. Without a will, your assets will be distributed according to state law, which may not be in line with your wishes.

Call Us Today

Don’t put off creating your will or estate plan today. Our St. Charles estate planning lawyer from Legacy Law Center will work to make the process as pain free as possible so that you don’t have to dread it so much. We are happy to walk you through the process, discuss your wishes for any possible circumstance that could arise, and suggest estate planning legal strategies that could be beneficial for you and your estate plan. Call us today to schedule your consultation and get started on your estate plan or to update your existing estate plan.

What’s Included in an Estate?

As an estate planning lawyer St. Charles, MO residents trust can confirm, an estate contains your real property, personal property and other assets. Common assets in an estate may include houses, bank accounts, stocks, bonds, vehicles and retirement accounts.

How Much Does It Take to Create an Estate Plan?

This is one of the primary concerns people have before establishing an estate plan. They want to make sure that they can afford the services. How much estate planning costs will depend on your unique goals and the size of your estate. Generally, the bigger your estate, the more it will cost to create an estate plan. An estate planning lawyer can assess the details of your estate and estimate the cost of a plan.

Who Should I Choose As My Executor?

An executor is the person who pays your debts, protects your property and distributes your assets to the proper individuals after your death. Being an executor is a big responsibility, so you should not choose just anyone. Ideally, your executor should be trustworthy, organized, communicative, impartial, financially savvy and compassionate. Before you appoint someone as your executor, your St. Charles estate planning lawyer may suggest asking the person if he or she is up for the task. Serving an executor can be a lot of work and not everyone may be available for that. If you can’t appoint a family member as an executor, consider hiring a bank or trust company to do the job.

What Is a Healthcare Power of Attorney?

A healthcare power of attorney is a legal document that allows you to designate a person to make healthcare decisions on your behalf. If you become incapacitated during your lifetime, you will want someone you trust to make these important decisions.

When Should I Update My Estate Plan?

Some people create an estate plan and never look at it again. This is a big mistake. Most people will need to update their estate plans a few times in their life. Generally, when you go through a major life change, like a divorce or birth of a child, you will want to take another look at your estate plan. You will want to make sure that your plan still reflects your current needs.

What Is a Special Needs Trust?

A special needs trust allows you to leave money for someone without jeopardizing their government benefits. For instance, if you have a disabled child, it may be a wise move to establish a special needs trust.

When Is The Appropriate Time to Create an Estate Plan?

Many people assume that you should wait until you are older to establish an estate plan. However, you are actually never too young to start an estate plan. Even if you do not have kids yet or many assets, estate planning is still worth considering. You want to make sure that your final wishes are carried out.

Contact Legacy Law Center today to schedule a consultation and get started on your estate plan or to update your existing estate plan. We look forward to hearing from you!