Legal Articles

Declaratory Judgment to Challenge Revocable Living Trusts

The use of revocable living trusts in estate planning is extremely common. Along with the rise of their use, challenges to the validity of revocable living trusts have also risen. Trusts may be contested on a number of grounds, the most common of which are lack of capacity, undue influence, fraud or duress. These claims…

Escheat: When Property/Estate without Heirs goes to the State

What happens when someone passes away and there is nobody alive who can legally inherit? Does the property just sit without an owner for eternity? Does it go to auction? Under traditional Common Law, the property escheats — that is, it reverts to ownership by the State/Government. This principle is codified in Missouri in statutory Chapter…

Missouri Liability for Breach of Trust

Trusts — testamentary, revocable, and irrevocable — all impose fiduciary duties upon a trustee (See: Fiduciary Duties of a Trustee). Whenever a trustee breach his/her fiduciary duty (self-dealing, improper investment, fraud, etc), the beneficiary of the trust has a few separate options. (1) The beneficiary can ratify (i.e., consent) to the transaction, thereby waiving the…

Asset Protection Trusts: Estate Planning & Creditors

Asset protection is a crucial component of estate planning. Most assume that asset protection is for the extremely wealth. However, most individuals and families can benefit from some form of asset protection planning. It is just the case that more at risk individuals will likely need more sophisticated plans. The Missouri Uniform Trust Code was…

Pour-over Will

What’s a “pour-over” Will? It’s a question I’m asked every so often when explaining an estate plan. The short answer answer is that when a Will has a “pour-over” provision it is designed to act as a safety net for a trust. I’ll elaborate. Pour-over wills are a necessary instrument in a trust-centered estate plan….

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