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Probate law is a critical yet often overlooked area of law that deals with the distribution and management of a person’s estate after their death. This area of law ensures that the decedent’s debts are paid, and their assets are distributed according to their last will and testament. If no will exists, probate law provides a default plan for distribution. In this blog post, we will explore the basics of probate law in Missouri. What …

The federal gift and estate tax exclusion is currently very high—$11.58 million for an individual and $23.16 million for a married couple in 2020. As a result, only very wealthy people currently need to be concerned that their estates will be taxable at the federal level, at least until 2026, when the increased exclusion amount is scheduled to return to the $5 million (adjusted for inflation) exclusion in place before the 2017 Tax Cuts and …

Life insurance is often one of the most important parts of an estate plan. People usually purchase life insurance to prevent their spouse, children, or other dependents from suffering financial hardship if they die unexpectedly. You may think that all you need to do is simply write in the name of the person you would like to receive the proceeds from your life insurance policy on the beneficiary designation section of your paperwork and forget …

A will or trust contest can derail your final wishes, rapidly deplete your estate, and tear your loved ones apart. But with proper planning, you can help your family avoid a potentially disastrous will or trust contest.  If you are concerned about challenges to your estate plan, consider the following: Do not attempt “do it yourself” solutions. If you are concerned about an heir contesting your estate plan, the last thing you want to do …

Attorney John P. Fritz has been selected to the 2022 Missouri & Kansas Super Lawyers Rising Stars list, an honor reserved for those lawyers who exhibit excellence in practice. Only 2.5% of attorneys in Missouri & Kansas receive this distinction.