PMCW Law

Conducting family estate planning can be a difficult and emotional job.  Providing for the disposition of your assets however, is extremely important.  Having a Will that is complete and up to date along with other estate planning documents, will give you and your family peace of mind.   Here is a partial list of topics you should consider when preparing to do estate planning: Designating a Personal Representative or Trustee: This is the person (or persons) that you designate and trust to manage your affairs and wishes upon your passing.  They will ensure your financial requirements, wishes and desires are adhered to according to your Will or Trust.  Choices often include your spouse or surviving children.  A good strategy is to pick a primary choice and one or two alternates, and to check with them to make sure they are willing to serve. Powers of Attorney: There are 3 typical types of documents appointing a power of attorney...

Make a New Year's resolution to keep your family and your estate protected Family Estate planning is often difficult to think about.  Very few of us like to think about passing away, but planning for this inevitable event now will make life easier for the loved ones you leave behind.  The beginning of a new year is a great time to start your planning or to review your estate planning to see if any changes are needed.  It's an unfortunate fact that only 2 in 5 Americans have a Will, and even less have done the planning needed to ensure a smooth resolution of their estate if death occurs. A Resource to help you The American Bar association has published a very nice resource on family estate planning that we would like to share with you.  The full document can be viewed at http://www.americanbar.org/content/dam/aba/migrated/publiced/practical/books/family_legal_guide/chapter_16.authcheckdam.pdf Per this guide - "Estate planning pays real dividends--in res...

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 Hea...