Frequently asked Questions
Questions from our Clients
At the Law Offices of Phillips, McElyea, Carpenter & Welch, P.C., we are asked many common legal questions from our clients. We want to share these great questions with our Blog readers and answer them! We will feature frequently asked questions with answers every few weeks, so keep checking back.
Question - What is the difference between a Will and a Living Will?
Answer - A Will is a legal instrument
executed by a person in accordance with the Missouri Statutes directing the
disposition of property at death, appointing a Personal Representative
(sometime referred to as Executor) and perhaps other things. A Will must be admitted to Probate to be
effective.
A Living Will is a written,
notarized statement made by person which gives instructions to health care
providers concerning the care to be given the person when death is
imminent. The Living Will has been
supplanted by an instrument known as a Health Care Directive coupled with a
Durable Power of Attorney whereby the person has the ability to give a third party
or parties the authority to see to it that the person’s at-death instructions
are followed.
Question - What is the difference between a Trust and a Will?
Answer - A Will is an instrument by which
a person provides for the distribution of property, appoints a Personal
Representative (sometimes referred to as Executor) and perhaps other
things. Like a Will, a Trust is an
instrument designed to provide for the distribution of assets at death but
unlike a Will, a Trust is most usually effective on the date of its execution
(a Will is only effective upon death).
When making a Trust the person doing so (referred to as the Trustor,
Grantor or Settlor) will usually convey all assets into the Trust at the time
of its execution. A Trust is a separate
legal entity with its own legal life and can, therefore, give powers to the
person administering the Trust, known at the Trustee, that can be carried out
after the death of the Settlor, and at the same time avoid being supervised by
the Probate Court.
Question - How do Traffic Violations affect my insurance rates?
Answer - Insurance rates are affected by age, gender and marital status among other factors. While it is hard to predict what a given insurance company will do with a particular traffic violation, convictions for violations can (and often do) have a significant impact on your insurance rates. While the most effective way avoid the problem is to obey the traffic laws, when you do get cited for a violation, you should contact an attorney to see if the impact on you can be minimized.
We hope these questions and answers will be helpful to you! If you have a particular legal question you need answered, please call us at (573) 346-7231 or come on into our office.
We Are Effective Camden County Lawyers for all of your legal needs.
We Are There When You Need Us.
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Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C.
The choice of a lawyer is an important decision and should not be based solely on advertising. When you need a knowledgeable attorney, we invite you to contact us to set up a consultation. Evening and weekend appointments are available. We have access to interpreters.
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Phillips, McElyea, Carpenter & Welch, P.C.
85 Court Circle N.W., P.O. Box 559
Camdenton, MO 65020 GET A MAP
(573) 346-7231 - Telephone
(888) 236-2485 - Toll Free
(573) 346-4411 - Fax
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