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September 2019 Archives

New marriage, new estate plan

It is no longer uncommon for a person in Missouri to get married more than one time over the course of their life. This may be due to the death of a previous spouse or to a divorce. Regardless of the reason that leads a person to get remarried, it is important that they make it a priority to review their estate plans in detail with their new partner.

Probating small estates in Missouri

Most in Saint Charles have likely heard horror stories about the probate process and how it should be avoided at all costs. Indeed, the probate process can prove costly (depending on how long the administration process takes to complete). The funds to pay probate-related costs come directly from an estate’s assets. Given that (according to the Survey of Consumer Finances) the median estate amount in the U.S. is $69,000, this may cause concern that a significant portion of an estate’s assets might go towards paying for probate. Yet those concerns may be unfounded given that Missouri state law allows for smaller estates to bypass the probate process altogether. 

Removing or replacing a personal representative

A person’s choice of their personal representative may be one of the most important decisions involved in the estate planning process. This is the individual (or in the same cases, the parties) that will be charged with ensuring that one’s final wishes are carried out to their exact specifications. Thus, one should be sure that the person(s) they select are aptly capable of fulfilling the role. Still, circumstances may occur which necessitate the removal of a personal representative during the estate administration process. 

When can I evict a tenant?

If you’re a landlord, you know that some tenants can be extremely troublesome. You may want them gone so bad you’d be willing to change the locks while they’re out. Unfortunately, that would be illegal. Landlords must have a reason to begin eviction proceedings against their tenants.

Why should you update your will after your divorce?

It is recommended by estate planning experts in Saint Charles that you create a will early on in your adult life (as you never know when you might die). Your spouse will no doubt factor into your estate planning decisions. What happens, then, if after creating a will (and including provisions which address the distribution of assets to your spouse) you then choose to get a divorce? 

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