Joint Tenancy

Before the rise of non-probate transfers of real and personal property, as well as  revocable living trusts, the joint tenancy with right of survivorship was a common device used to avoid probate. Probate is undesirable for several reasons. First, probate is...

Do I need a Will or a Trust?

Clients frequently ask “Do I need a will or a trust?” The answer depends on the client’s estate planning goals. For most people, the chief objective of estate planning is avoiding probate. Probate is undesirable for several reasons. First, probate is...

Do I need a Will?

A common question in estate planning is “do I need a will?” The short answer is “yes,” although the reason why is probably different than you think. As explored in this post, an individual who dies without a will is said to die intestate. A person who dies intestate...

What is a Trust?

A trust is a relationship in which property is held by one person for the benefit of another person. A trust has three fundamental roles: settlor, trustee, and beneficiary. The settlor creates the trust and funds the trust with trust property. The trustee holds and...

What happens if you die without a Will?

One of the most common questions in estate planning is: “What happens if you die without a will?” An individual who dies without a will is said to die intestate. A person who dies intestate will have his or her estate distributed according to Missouri’s...