Kansas City Estate Planning Attorney, Larry LaVigne II…

If You Need a Will or a Trust, Larry Does It:

Kansas City Will Lawyer:  Your last Will and Testament is just one part of a comprehensive estate plan.  It explains how you want your assets distributed (given out) upon your death.  If a person dies without a Will they are said to have died "intestate" and state laws will determine how and to whom the person's assets will be distributed.  Some things you should know about Wills:

Kansas City Trust Lawyer:  At the most basic level, a trust is a legal entity with at least three parties involved: the trust-maker, the trustee (trust manager), and the trust beneficiary (the person who received the money). Oftentimes, all three parties are represented by one person or a married couple.

There are many different types of trusts including:

The most common form of trust is called a “Revocable Living Trust”.  To understand what a revocable living trust is, the term will be broken down.  "Revocable" means that the trust can typically be changed, amended, or totally revoked (no longer valid) during the lifetime of the person(s) who created the trust.  This means that the trust-maker (creator) has maximum flexibility to do what he or she wants.  "Living" means that the trust is established during the lifetime of the trust-maker (creator).  The trust is a separate legal entity that can own property, and is controlled by a trustee (trust manager).

A single person can create a Revocable Living Trust or a married couple can create a Joint Revocable Living Trust.  Technically, any two persons, married or not, can create a Joint Revocable Living Trust, but unmarried parties creating such a trust would have to discuss many special considerations when doing so. 

One of the main reasons that a Revocable Living Trust is created is avoid probate because it costs money to probate a Will.  If a person passes away, and still has assets or property titled into his or her own name, it becomes necessary to involve the Probate Court because these assets are “stuck” in that deceased person's name.  A Revocable Living Trust is usually created in order to totally bypass the Probate Court process, and make sure that nothing is in still titled in your name after you die.  If you set up a Revocable Living Trust, and correctly title assets in the name of that Revocable Living Trust, those assets won’t be owned by you still after you die, but instead the assets will instead be owned by the Trust after you die.

Kansas City Will and Trust Lawyer, Larry Does It:

To decide whether a Will or a type of Trust best suits your needs, give Larry a call today.  He will lay out the options, explain the benefits of each and give you a recommendation so you can make an informed decision on how best to protect your family.  

Kansas City Estate Planning Attorney, Including the Following Areas:

Avondale, Birmingham, Claycomo, Ectonville, Excelsior Estates, Excelsior Springs, Gladstone, Glenaire, Holt, Kansas City (KCMO), Kearney, Lawson, Liberty, Missouri City, Mosby, North Kansas City (NKC), Oaks, Oakview, Oakwood, Oakwood Park, Pleasant Valley, Prathersville, Randolph, Smithville, Sugar Creek, Camden Point, Dearborn, East Leavenworth, Edgerton, Farley, Ferrelview, Houston Lake, Iatan, Lake Waukomis, Northmoor, Parkville, Platte City, Platte Woods, Ridgely, Riverside, Tracy, Waldron, Weatherby Lake, Weston, Blue Springs, Blue Summit, Buckner, Grain Valley, Grandview, Greenwood, Independence, Lake Lotawana, Lake Tapawingo, Lee's Summit, Levasy, Lone Jack, Martin City, Oak Grove, Raytown, River Bend, Sibley, Sugar Creek, Unity Village, Archie, Austin, Baldwin Park, Belton, Cleveland, Creighton, Daugherty, Dayton, Drexel, East Lynne, Freeman, Garden City, Gunn City, Harrisonville, Jaudon, Lake Annette, Lake Winnebago, Loch Lloyd, Martin City, Peculiar, Pleasant Hill, Raymore, Riverview Estates, Strasburg and West Line.

219 E 12th St
Kansas City, MO
816-266-8831
ESTATE PLANNING