PMCW Law

Thinking about passing away is something that most don’t like to think about or discuss.  Most of us don’t like planning for our death, but you owe it to your loved one's to have a plan in place.  A will allows you to designate what will happen to your possessions and estate in the event of your passing . We know getting your affairs in order may not be something you desire to do, but it is something you need to do.  The  Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C. will answer some frequently asked questions about wills.  Our  experienced estate planning lawyers at the Lake of the Ozarks  and our probate administration attorneys can help you along every step of the way.  Estate Planning vs Probate Administration  What's The Difference? Passing money, possessions, property, and other assets from a deceased loved one to surviving family and friends is often a two-step process. First, decisions must be made ...

"Is it time to for me to start thinking about estate planning?" If you are already asking yourself that question, the answer should be automatic - yes. Estate planning is the act of organizing your estate so that your assets and responsibilities are appropriately cared for and distributed to your surviving friends and family members after you pass away. Your estate planning attorney in Camden County, MO will be able to help you properly plan your estate so that the transition will be as seamless as possible. Phillips, McElyea, Carpenter, & Welch, P.C. has a solid team of experienced local estate planning attorneys, and we would be honored to help you make your important preparations. Wills vs Trusts While similar, wills and trusts are important estate planning documents with some distinct differences. For example, a will only comes into effect after your death, whereas a trust may become active as soon as you sign it.  Wills allow you to designate which pers...

If you don't have kids, are unmarried, or are still relatively young, it is highly possible you haven't given any thought to your estate plan yet. Since most people don't want to think about eventually passing away someday, estate planning frequently gets pushed to the back burner. Due to the unpredictable nature of our daily lives, however, postponing building your estate plan at the Lake of the Ozarks efforts is often unwise.  If you are thinking about building a brand new estate plan or revising the one your currently have, our estate planning attorneys in Camdenton MO are here to help. Here are a few questions you should ask yourself when building or revising your estate plan. 1. Who Do You Want To Inherit Your Assets? One of the primary purposes of your estate plan is to indicate whom will inherit your assets after you pass. If you are married, this decision may be easy; most married couples wish to leave everything to their surviving spouse or their ch...

Wills and testaments are important documents that dictate what will happen to your property and assets after you pass away. If you die without an effective estate plan, your assets may have to undergo a lengthy probate process before they can be distributed to your surviving heirs - and even then, you can't be sure that they will be divided according to your wishes.  Establishing a will ensures your assets will pass in accordance with your wishes.   Of course, wills are not passive documents that can be written and then forgotten. There are several common life occurrences that can be cause to update your will. Today, the team at the Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C. are here to help examine a few of them. 5 Reasons To Update Your Will 1. Getting Married Or Divorced. Chances are your marital status will greatly impact whom you would like to inherit your assets. If you are single with children, you may wish your assets to be passed direc...

"You can't take it with you, but you can leave it behind for your heirs and your surviving spouse." Last week, we discussed the probate process in Missouri and how your assets will be distributed to your survivors if you do not have a valid will in place. Now that you know the consequences of not having a proper estate plan established, the attorneys at the Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C. are here to help you identify the key components of a solid estate plan.  Power Of Attorney Your power of attorney is not necessarily an attorney at the Lake of the Ozarks - the power of attorney is an individual selected by you to act on your behalf in the event that you are unable to represent yourself. There are two main forms of power of attorney: Durable Power Of Attorney and Health Care Power of Attorney. Durable Power Of Attorney  - This individual is responsible for handling your financial affairs. These powers include (but are not ...