• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Bolinger Law

Bolinger Law Firm

  • About
  • Business Law
  • Estate Planning
  • Free Consultation
  • Blog
  • Contact
  • 636-386-8322

Wills and Estate Plans in Simple Terms

Your estate planning attorney uses wills and estate plans to cover the transfer of property at death and various other personal matters. And every person has specific needs that they need to address. While many believe you must have valuable assets for estate planning, that’s not the case. At Bolinger Law, we encourage everyone to take the time to put affairs in order. Because failing to address these concerns can result in legal complications, including court intervention.

At a minimum, every person should have the following in their estate plan:

  • Will – States how your assets will be distributed after your death. Also, a will can designate who will care for your children. Failure to prepare a will usually leave decisions about your estate to state officials or judges and may cause family rifts.
  • Power of Attorney – Gives authorization to one person to act for another. Depending on how your attorney constructs the document, the authorized person can have broad or limited authority to make medical care, finances, and property decisions.
  • Advanced Directive (Living Will) – Explains how you want medical decisions made about you if you cannot make decisions yourself. As a result, it provides a valuable guide for your healthcare team and loved ones. Also, advanced directives only apply to healthcare decisions and vary from state to state.

Additional Estate Planning Considerations

Depending on your circumstances, the following are additional sections for an estate plan:

  • Guardianship (or conservatorship) – Designates a person to make decisions about another person and/or property. Because guardianship removes the rights of an individual, you should consider it only after other alternatives have proven ineffective or are not available.
  • Durable Power of Attorney – Identical to a power of attorney (see above), a durable power of attorney has powers that remain in effect after the onset of a disability.
  • Trusts – Gives another party the right to hold another’s title to a property or asset. And you can use trusts to provide legal protection for your assets. Also, they ensure you can distribute your assets according to your wishes. As a result, trusts can save time and reduce paperwork.

Reviewing & Updating Estate Plan Documents

Once you have an estate plan, we recommend reviewing it regularly so that it says up to date. Typically, we recommend at least every three to five years. Or whenever there is a life event such as:

  • Adoption or birth of a new grandchild and when they become an adult
  • Change in the number of your dependents
  • Changes in your financial goals
  • Marriage or divorce
  • Changes in life or long-term insurance coverage
  • Large asset purchases
  • Significant increases or decreases in asset values
  • Alterations in federal or state laws covering investments and taxes

Rely on Bolinger Law Firm for Your Wills and Estate Plans

We have the expertise to guide you through the necessary documents for your will and estate plan. Contact us today for a free consultation or call us at 636-386-8322.

With a convenient location at 14615 Manchester Road, our clients come from St. Louis, Chesterfield, Wildwood, Earth City, Maryland Heights, Ellisville, Ballwin, Manchester, and other parts of the St. Louis region.

August 16, 2022 By Bolinger Law Firm
Filed Under: Business, Legal Tips

Primary Sidebar

Categories

  • Business
  • Estate Planning
  • Legal Tips

Footer

Bolinger Law Firm

14615 Manchester Road, Suite 203
Manchester, Missouri 63011

636-386-8322
Fax: (636) 389-5746

Contact us

  • Facebook
  • LinkedIn
  • Twitter

Business Law

  • Mergers and Acquisitions
  • Commercial Real Estate
  • Formation & Entity Selection
  • Litigation
  • Contract Drafting, Review, and Negotiation

Estate Planning

  • Wills
  • Trusts
  • Powers of Attorney
  • Living Wills
  • Probate and Trust Administration
  • Non-Probate Transfers
  • Asset Protection
  • Probate and Trust Litigation
  • Guardianships and Conservatorships

The information on this website is for general information purposes only and should not be considered legal advice. Filling out the contact form does not create an attorney-client relationship. The choice of an attorney is an important decision and should not be based solely upon advertisements.

Copyright © 2023 · All content owned by Bolinger Law Firm. Sitemap. Website created and managed by Worry Free Marketing, St. Louis

MENU
  • Home
  • About Us
    • Testimonials
  • Business Law
    • Mergers and Acquisitions
    • Commercial Real Estate
    • Formation & Entity Selection
    • Litigation
    • Contract Drafting, Review, and Negotiation
  • Estate Planning
    • Wills
    • Trusts
    • Powers of Attorney
    • Living Wills
    • Probate and Trust Administration
    • Non-Probate Transfers
    • Asset Protection
    • Probate and Trust Litigation
    • Guardianships and Conservatorships
  • Blog
  • Free Consultation
  • Contact Us