Articles

Written by: Attorney Raymond Chandler A Totten trust is an older form of bank-account arrangement in which a person deposits his or her own funds into an account in his or her own name as trustee for another person. Missouri…

Written by: Marcus Tecarro Generally, no. Bank accounts with a payable-on-death designation, retirement accounts and life insurance with a named beneficiary, and vehicles with a transfer-on-death title all pass directly to the named person at death, without going through Missouri’s…

Written by: Attorney Raymond Chandler An estate plan reflects your life at the moment you signed it, and your life doesn’t stay still. A plan built five years ago, however well it was drafted, may not reflect a divorce, a…

Written by: Attorney Scott Stork Qualifying for long-term care Medicaid in Missouri means clearing three separate requirements: a medical requirement showing you actually need that level of care, an income test, and an asset test, all under a specific track…

Written by: Anne Harris An irrevocable trust in Missouri generally limits your ability to reclaim the assets or unilaterally change the trust. Depending on how it is structured, that limitation can help accomplish objectives such as creditor protection, tax planning,…

Written by: Marcus Tecarro Missouri gives property owners several tools for keeping assets out of probate: a living trust, joint ownership with survivorship rights, beneficiary designations, and beneficiary deeds for real estate. Used correctly, together, they can mean a family…

Written by: Attorney Scott Stork Missouri’s official term is beneficiary deed, though most people search for it as a transfer on death deed, or TOD deed. They’re the same thing. Under Missouri law (RSMo 461.025), a beneficiary deed lets you…

Written by: Attorney Raymond Chandler Medicaid does not automatically take your house when you enter a nursing home. However, Missouri may impose a lien against real property during the recipient’s lifetime in certain circumstances, and estate recovery may apply after…

Written by: Anne Harris Asset integration, or how to fund a trust, means legally connecting assets to the trust and coordinating how they will pass under the estate plan. For many assets, that means transferring or retitling ownership to the…

Written by: Anne Harris There isn’t one Missouri Medicaid income limit. There are several, and which one applies depends on which program you’re asking about: nursing home Medicaid, a Home and Community-Based Services waiver, or regular Medicaid coverage for seniors…