Securing Your Family’s Future: Estate Planning Insights
Estate planning isn’t just for retirees – it’s a crucial step at any stage of life to safeguard your family’s future. At Boehmer Law, our attorneys understand the sensitivity of this subject and offer comprehensive guidance for your estate planning needs.
Understanding Estate Planning
Your estate encompasses everything you possess, from financial assets like retirement and bank accounts to properties and investments. An estate planning lawyer assists in distributing these assets among your loved ones while ensuring your wishes are clearly conveyed and executed upon your passing.
Wills And Trusts
Delving into estate planning often involves consideration of wills and trusts. A trust, a vital component of your estate, simplifies the transfer of assets to your family members without undergoing probate, providing them access to your will’s items without delays or freezes.
Power Of Attorney
Designating a power of attorney and drafting a living will are integral parts of estate planning. Our attorneys at Boehmer Law handle these sensitive topics with care and skill, ensuring your wishes are respected and legally binding.
Advance Health Care Directives
Advance health care directives, often comprising a living will and health care power of attorney, play a pivotal role in estate planning. A living will specifies your preferences for medical care in unforeseen circumstances, guiding health care professionals when you cannot communicate your wishes. It outlines treatments you do or do not wish to receive, ensuring your values and desires guide medical decisions.
Additionally, a health care power of attorney designates a trusted individual to make medical decisions on your behalf if you’re incapacitated. This person advocates for your preferences, ensuring that your healthcare aligns with your wishes and values.
Crafting these directives empowers you to control your medical care in situations where you cannot express your desires. Our attorneys understand the importance of these documents and will work with you to ensure they accurately reflect your wishes and are legally sound.
Estate Planning FAQ
Like most people who have not gone through estate planning before, you probably have a lot of questions about the process. The following are general answers to some of the most common questions our clients ask our attorneys on a regular basis.
Who should create an estate plan, and when?
In short, everybody, and as soon as possible. Many people mistakenly assume that estate planning is only necessary for older, wealthy individuals. Actually, adults of all ages and incomes can benefit from a customized plan. For example, parents of young children can use their plan to ensure their kids will be well-cared for even if the parents pass away.
Even if you are still young and in good health, the future is not guaranteed, and dying without a valid will can cause problems for your family. So, it makes sense to take care of your estate plan as soon as possible.
What happens if I die without an estate plan in Missouri?
Dying without a valid will is called dying intestate. When this happens, Missouri’s intestacy laws determine who inherits the deceased’s estate. Most people would prefer to choose for themselves who their heirs will be. An estate plan can also make the estate administration process significantly faster and smoother.
How can I help my family avoid probate and estate taxes when I die?
While Missouri does not have an estate tax, your estate might be subject to the federal tax. Careful planning and the use of tools like trusts can help your estate avoid, or at least minimize, estate taxes. A trust can also be used to keep property from having to go through probate before getting distributed to your intended beneficiaries.
Do I need to work with an estate planning attorney?
Working with an estate planning lawyer is the best way to guarantee that your plan is legally sound and reflects your needs. Missouri law contains strict requirements for establishing a will. It can be easy to make a mistake while writing your own will that could invalidate it when the time comes. Do-it-yourself estate planning websites exist, but those companies are often nationwide with no knowledge of any particular state laws or regulations.
Planning Your Legacy
Secure your family’s future by initiating estate planning discussions today. Reach out to our attorneys at Boehmer Law to consult with an experienced estate planning attorney in St. Charles. Let us guide you through the complexities of wills, trusts and health care directives for comprehensive estate planning. Call 636-549-8300 or fill out our simple form to make an appointment for a free consultation.