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Reverse Mortgages are a common asset/liability held by many Missouri seniors. Under a reverse mortgage, a senior is allowed to borrow funds from a reverse mortgage bank, with the senior’s home being used as collateral for the loan, often allowing the senior to have the necessary funds to remain in the home. The loan becomes […]
Understanding a Trustee’s Fiduciary Duty—and What Happens When It’s BreachedWe frequently work with individuals who serve as trustees or are beneficiaries of trusts. One of the most critical—and often misunderstood—aspects of trust administration is the fiduciary duty owed by trustees. When this duty is breached, the consequences can be serious for everyone involved. What Is a […]
Estate Planning in Missouri: How to Protect Your Legacy from an Irresponsible HeirEstate planning is an essential step to ensure your wishes are honored and your loved ones are provided for after you’re gone. But what if you have a child who struggles with financial responsibility? Whether due to addictive behaviors, poor money management, or […]
Non-exempt real property owned by a participant, or his/her spouse, may to be excluded as an available resource. To exclude the property, the applicant must show a good faith effort to sell the property at fair market value (FMV) during the months that they are requesting MO HealthNet coverage. In order to show a Good […]
Don’t Let Debt Derail Your Estate Plan: Key Strategies to Protect Your LegacyEstate planning is about more than just deciding who gets what after you’re gone—it’s also about protecting your loved ones from unnecessary financial burden. One often overlooked aspect? Debt. From mortgages and credit cards to unpaid medical bills, debts can have a lasting […]
The Spousal Share is the greater of the current Minimum Spousal Share ($25,284) or one half the couple’s combined non-exempt assets not to exceed the current Maximum Spousal Share ($126,420). In order to determine the Spousal Share, determine the equity value of all the non-exempt assets owned by the Institutionalized and Community Spouse at the […]