Estate Planning Info Center

Estate Planning Lawyers in St. Louis, Missouri 
314-423-4529

Individuals who want to transfer assets to their heirs in an efficient, affordable manner need an estate plan. Without it, Missouri law will decide how your estate will be distributed, and it will be subject to fees and taxes. An estate plan details your wishes and makes the entire process as efficient and cost-effective as possible. Hocking & Dulle, LLC gives you the professional legal guidance you need for proper estate planning and administration at a fair and affordable price. Contact them at 314-423-4529.

The attorneys Hocking & Dulle, LLC provide high-quality legal representation in many areas of the law including but not limited to, all traffic violations, DWI's/DUI's, all other criminal matters, real estate law and estate planning and drafting in St. Louis County, St. Louis City, St. Charles County, Lincoln County, Pike County, Warren County, and Jefferson County, and all of the cities, towns, and municipalities located therein including, but not limited to: Arnold, Ballwin, Bel-Nor, Bel-Ridge, Berkeley, Brentwood, Bridgeton, Chesterfield, Clayton, Cool Valley, Creve Coeur, Crystal City, Ferguson, Festus, Florissant, Frontenac, Hazelwood, Hillsboro, Imperial, Jennings, Kirkwood, Ladue, Maryland Heights, Mehlville, Normandy, O'Fallon, Olivette, Overland, Pine Lawn, Richmond Heights, Rock Hill, Shrewsbury, St. Ann, St. Charles, St. John, St. Peters, Sunset Hills, Town and Country, Troy, University City, Webster Grove, Wentzville, and Wright City.

Estate Planning - An Overview

Estate planning allows an individual to plan for his or her lifetime objectives and to provide direction about the disposition of his or her assets after death. Estate planning can include wills and trusts as well as powers of attorney and healthcare directives. Estate planning is impacted by state and federal law, and any individual may find that more elaborate or creative legal means are necessary for his or her situation. Some of these more complex techniques include trusts, family limited partnerships (FLPs), and limited liability companies (LLCs). An estate planning lawyer can be an essential ally in assuring that your estate planning goals are understood and carried out. If you have estate planning-related legal questions, call our firm today to schedule a consultation with an estate planning lawyer.

Estate Planning Basic Documents

Because estate planning allows an individual to ensure that his or her property will go to the people he or she wants, in the way he or she wants, and when he or she wants, it is important for everyone, even if an estate is likely to be small, to have an estate plan. An estate plan can help to reduce tax liabilities, court costs, and attorneys' fees, and it can also make it easier for families to cope with the administrative and financial issues that arise after the loss of family members.

Estate plans should typically include at least two important estate planning instruments: a durable power of attorney and a will. A durable power of attorney is a document that authorizes a person to make decisions for a person who has become incapacitated, including decisions about the incapacitated person's property. A will is a document that sets out the plan to distribute a person’s property after her or his death.

Documents relating to medical care can also be part of an estate plan. Documents to consider include a medical directive (also called an advance directive, a physician's directive, a written directive, or a durable power of attorney for healthcare) to designate a person to make healthcare decisions for a person who has become incapacitated, a healthcare proxy (also called a proxy directive) to designate a person to make healthcare decisions regardless of a person's incapacity, and a living will to express a person's desire regarding the use of extraordinary measures to extend her or his life when there is no reasonable expectation of recovery.

Estate Planning and Financial Goals

Estate planning can help to identify and plan for financial needs during life and after death. Financial needs to consider include retirement income, college funding, replacement income following an unforeseen illness or disability, and the needs of surviving family members. To meet these financial goals and to ensure appropriate utilization of assets during life and orderly and efficient distribution of assets after death, an estate plan may include making gifts to individuals and charities during life, purchasing life insurance, using revocable and irrevocable trusts, purchasing annuities, and rearranging personal and business interests. In addition to federal gift and estate taxes, state inheritance taxes, which vary from state to state, must also be considered to meet financial objectives.

Conclusion

Asset protection strategies, healthcare directives, powers of attorney, and other estate planning devices are an integral part of the services that an estate planning attorney can provide. If you have questions about estate planning, contact our firm to schedule a consultation with an estate planning attorney.

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DISCLAIMER: This site and any information contained herein are intended for informational purposes only and should not be construed as legal advice. Seek competent legal counsel for advice on any legal matter.

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We so often hear that hard work is the path to achieving the American dream. But retaining as much of our earnings as possible for our families can be a challenge. An estate planning attorney can work with you to assure that your hard work results in the accumulation of assets that are protected from liabilities. Asset protection planning can help you to ensure that gift and estate tax liabilities are minimized for your family after you have gone.

Like it or not each day of our lives we get older. If you need extended nursing home care, you will want to ensure that the assets you have spent a lifetime accumulating will not suddenly disappear. Your home and other assets will need to be protected for your surviving family members. The court will appoint a stranger to act as your conservator or guardian in the event you have not previously chosen one. These are issues over which you have control, and consulting with an estate planning attorney will allow you to plan for your future.

Each year people die who have not prepared a will. When this occurs, the law dictates how an individual's property is distributed, and a court may pick the guardian of your children. Dying without an estate plan can also increase the likelihood that your surviving loved ones will not be cared for. Too many people put off addressing these important issues. Don't let it happen to you.

In many cases in which a person becomes incapacitated, courts appoint outsiders to make decisions regarding the incapacitated person's financial affairs and health matters. The way to ensure that a person of your choosing who knows your wishes and will act on your behalf is to execute a power of attorney to designate an agent or attorney-in-fact.

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.