PMCW Law

By this point in your life, you have probably been told at one point or another that having a will drawn up for yourself and your family is a very smart move. But, do you know what a will really is? On that note, what about a living trust? Both can be smart choices depending on your situation. Our estate planning attorneys at the Lake of the Ozarks are here to give you the differences between a will and a living trust so you can make a better decision for yourself and your family. For a free consultation with our Camden County estate planning attorneys , call Phillips, McElyea, Carpenter, and Welch today for your free consultation. Our Camdenton Law Office can be reached at (573) 346-7231. A Will If you have a will in place, you will be able to use the document to assign an individual to take over your role as guardian in the event of your passing. Wills allow you to designate beneficiaries for your property. If you are leaving property to a minor using a will, you shou...

Let's face it. No one likes thinking about what's going to happen when they pass away and our estate planning lawyers at the Lake of the Ozarks realize that. However, thinking about this now and getting your estate plan in order, can really make things easier on your loved ones at a time where they are mourning. Phillips, McElyea, Carpenter, and Welch specializes in assisting clients with their estate plans. Our Lake of the Ozarks estate planning attorneys can be there for you every step of the way when it comes to aligning your estate plan so it works for you and your family. In the meantime, keep reading because we have estate planning tips for you for different aspects of your life below. Estate Planning Tips for DIFFERENT Aspects of Your Life PETS Our pets are family and we understand that some clients would like to enter them into their estate plans, but you need to realize that you can't legally leave money or assets behind to a pet because they don't ...

Pets can be family. Our estate planning attorneys at the Lake of the Ozarks can understand that. Keep reading for a few estate planning tips for pet owners. When it comes to working pets into your estate plan, it can be complicated. Call Phillips, McElyea, Carpenter, and Welch at 573-346-7231 today for your free consultation. 3 Estate Planning Tips for Pet Owners 1. You need to know that you can't legally leave money or assets behind to a pet because they don't have the legal capacity to own property, but: You can leave money to a person you have designated to take care of your pet to use for that pet. 2. Consider opening a pet trust.  A pet trust is a formal agreement drawn up for that care and well being of the pet. If you become at a point where you can't take care of your pet, whether you have passed away or acquire an illness that makes it to where you can't care for your pet, then this agreement could go into effect and allow for a person of your c...

You never know what can happen in life. One day you may have your first child, buy a new house, or be the owner of your very own small business, you just don't know, but what our estate planning attorneys at the Lake of the Ozarks know, is that your will should be updated which each unexpected life change. To learn more about this process and to make sure you are covered properly when it comes to your will, see our Camden County estate planning attorneys . Phillips, McElyea, Carpenter, and Welch is here for you. Keep reading to learn a few examples of unexpected life changes that should affect your will. Unexpected Changes in Your Life That Should Effect Your Estate Plan New child If you are having a new child, you may consider adding them to your will or trust. If you choose to do this, while your will is probably the last thing on your mind at a time like this, remember to add heras a beneficiary so she can inherit when you want her to inherit. No one likes to think abo...

Hello to all of the parents out there! We can understand that throughout the busy life that is the world of parenting, making an estate plan is probably the furthest thing from your mind, but it should be a top priority. Here's why, if something tragic were to happen to you and your spouse or co-parent without a will, then you won't have it say in who cares for your minor child after you are gone. You can't depend on the law to carry out your wishes. Our estate planning attorneys at the Lake of the Ozarks are here to give you a few estate planning tips. To get your estate plan drawn up as soon as possible by a professional, call Phillips, McElyea, Carpenter, and Welch today at 573-346-7231 for your free consultation. Get Life Insurance. Life insurance can give you peace of mind knowing your family will be financially ok if you pass away unexpectedly. It can cover your funeral expenses, leftover college debt, unpaid mortgages, etc. If you pass away unexpectedly, lif...

2019 may be a big year for you! Perhaps you are having your first child? Maybe you are getting married? Maybe you are a buying your very first house or maybe you are finally starting your own business? Whatever your new life change may be, congratulations on this big step! While many people may not think about this at the time, each one of these changes can affect your will or estate plan and it's important that you consult with your estate planning lawyer at the Lake of the Ozarks . At Phillips, McElyea, Carpenter, and Welch , we encourage our clients to let their wishes be known. Keep reading to learn how different life changes can affect your estate plan or will. How Will Your Upcoming Life Changes Affect Your Estate Plan Having a New Baby Once you had a child, it becomes even more important that you have a will or trust. You should name a guardian for your children and list them in your will. A guardian is a person who would care for your children if you unexpectedly ...

While being a new parent can be very demanding, estate planning may not be a high priority. However, it is an important task and shouldn't be ignored. On the off chance you and your spouse die without writing a will and appointing a guardian before your child turns 18, he or she could be appointed a caregiver you don't approve of. Typically, the court will appoint a family member, but you may not want that particular family member being responsible for your child. Our estate planning attorneys at the Lake of the Ozarks are here to give new parents a few estate planning tips. If you find yourself needing help from an experienced Camden County lawyer for this important task, call Phillips, McElyea, Carpenter, and Welch today at 573-346-7231 to schedule your free consultation today. Estate Planning Tips for New Parents Choosing the Right Beneficiaries It's important to keep your beneficiaries updated at all times. For example, if you were married once before and ma...

Prepare for the unexpected! Have you ever heard that expression, "prepare for the worst and hope for the best?" Those are words to live by when it comes to making your will. A will can protect your assets when you no longer can speak about them. This important document can help ensure that your wishes are met and that your precious belongings go to the loved ones you wish them to go to. Our attorneys at the Lake of the Ozarks are here to give you a few tips for making your will. If you need assistance with this important process, call Phillips, McElyea, Carpenter, and Welch at 573-346-7231 today. 5 Tips for Making Your Will Choose your attorney wisely. Making your will is a vital process and an attorney who has years of experience can help guide you through. He or she can help you avoid making costly mistakes and protect you from potential consequences of not having a good will. Pick your beneficiaries and keep them up to date. You must keep your beneficiaries...

Have you recently had a child or got married? Serious life changes should trigger you to draft a will if you haven't already. Your belongings probably mean a lot to you and they should go to who you want versus being handled in probate. When drafting a will, it's vital that you don't accidentally leave an item out, which is why the help of an experienced estate planning lawyer at the Lake of the Ozarks can come in handy. Phillips, McElyea, Carpenter, and Welch are here to list a few examples of items not to forget when drafting your will. Don't Forget to List These Items in Your Will Guardian Appointing a guardian is essential is you have minor children. The guardian is the person who takes care of your children if you pass away before they are of age. Property Property can mean a number of things. When you hear "real property," that refers to real estate including land, a home or building. Transferring ownership of this type of property can be mu...

Drafting your will can be one of the most important things you do in life because this document helps ensure that your most precious belongings go to the people you intend them to go to, rather than as controlled by Missouri law through the probate court. While you don't have to have a will, we highly recommend that you do, otherwise, your loved ones could be facing confusion after you pass away. This would already be a time of grief for them, so why not make the transition of your possessions as easy as possible on them and have a will constructed? Phillips, McElyea, Carpenter, and Welch knows how difficult it can be to make ultimately sure you have everything listed in your will that you should have. If you have questions about your will or on how to start one, call our law office in Camdenton at 573-346-7231 today for your free consultation. Keep reading for a checklist for drafting a will. Checklist for Drafting a Will When drafting your will, make sure you have the...

Having a will is one of the most important things you can do for your family. Taking the time to have one drafted can save them time and stress in an already difficult situation. No one likes thinking about when they pass away, but the reality is having a will ensures your assets are left to who you intended to leave them to. However, you may not realize that there are actually some things you can't or just shouldn't leave in your will. Our estate planning attorneys at the Lake of the Ozarks are here to let you know what NOT to put in your will. If you do need assistance drafting your will, call Phillips, McElyea, Carpenter and Welch . Avoid Putting These Things in Your Will 1. Retirement Funds Whether you have a 401k, IRA or Pension, the funds from retirement accounts such as these go to whoever you named as a beneficiary or your spouse, (depending on the retirement account) when you pass away. Therefore, if you have designated an individual as beneficiary, you...