Helping Individuals Protect their Assets and Provide for Future Generations
Estate planning is the process through which you make plans for the way that your assets will be distributed when you pass away. Too many people mistakenly believe that estate planning is only a necessity for the extremely wealthy or elderly. In addition, there is much more to estate planning than the creation of wills and trusts. Almost everyone can benefit from estate planning and starting the process sooner rather than later is a prudent idea in almost every instance and should always be undertaken with the assistance of an experienced lawyer.
Offering a Wide Range of Estate Planning Services
Estate plans often seek to achieve a variety of goals. Generally speaking, the primary purpose of a comprehensive estate plan is to ensure that your assets are distributed according to your wishes upon your death. Without an estate plan, it is very likely that the laws of intestate succession in the state where you reside will dictate what happens to your estate, which may or may not be in accordance with your wishes.
Other goals achieved by well-crafted and effective estate plans include minimizing the tax liability that your heirs or beneficiaries incur, as well as avoiding the expense and time associated with probate. In addition, the process of estate planning can address issues related to how your financial and medical decisions will be handled in the event that you become legally incapacitated due to illness or injury.
There are a variety of estate planning methods and techniques that can achieve these goals, including the following:
- Last Wills and Testaments
- Revocable Living Trusts, also known as inter vivos trusts
- Living Wills
- Durable Powers of Attorney
Representing Parties Involved in Litigation Related to Estate Planning
While the process of estate planning tends to occur in the absence of conflict, in some cases, issues related to an estate plan can result in litigation. For example, if you believe that a will was executed under duress or its terms reflect the undue influence of another family member or other person, you may be able to challenge the will in probate court. Likewise, if you believe that a personal representative or trustee has breached his or her fiduciary duty, you may be able to recover compensation or remove the fiduciary from his or her position. The attorneys of Kilo Flynn are equally qualified to represent people involved in estate litigation as they are in providing advice and counsel regarding matters related to estate planning.
If you are currently dealing with a trust company, you should keep in mind that not all of their representatives are necessarily qualified to advise on legal matters related to your trust. For this reason, both grantors and beneficiaries should always consult with an attorney regarding questions about the administration of a trust.
Call a St. Louis Estate Planning Lawyer Today to Discuss Your Situation
If you have estate planning needs that you need to address or simply would like to explore your options, you should call Kilo Flynn today. Our skilled and experienced lawyers are committed to providing solution-oriented and effective estate planning advice and representation. We work with clients throughout Missouri and Illinois, including the City of St. Louis, and the surrounding Missouri counties of St. Louis, St. Charles, Lincoln, Jefferson, Franklin and Crawford; and the Illinois counties of Madison, St. Clair and Monroe, to name a few. Call our office today at 314-647-8910 for a free consultation.