What Is Legacy Planning?

Left: Before Above: After RainDrop Gutter Guards are installed.

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GETAWAYSCOMPUTER TUTORS is a local, woman-owned small business founded in 1997. DEDE CATSAVIS is the founder and owner. For 25 46years they have provided computer services to thousands CLMof satisfied, happy customers. Computer Tutors works on Windows and MAC computers, sets up home networks, eliminates viruses and also will help with any of your other electronic devices. You can reach them at 314-608-7920, and at www.computertutors.net.

If Your Home Technology Isn’t Working As It Should, Maybe You Need a Tune-Up

BY DEDE CATSAVIS

Here are two typical situations we encounter, and how we solved them:

A client called saying her

internet was super slow. She had old AT&T service and fiber was not available, so we helped her switch to Spectrum. Her router was 8 years old, so we updated her to a mesh Wi-Fi 6 router to take advantage of the faster signal. She had bundled landline and cell phone with AT&T, so made sure neither was discontinued with the internet service. She had five TVs and Jeff suggested she purchase ROKUs for them and not lease the cable boxes from Spectrum – saving her more than $50 per month. He returned after Spectrum set her up and connected the computer, printer and other devices to her new cable network. He installed all the ROKUs and downloaded the Spectrum app so she could have the same TV channels and guide as she had with the cable box. Then he showed her how to use the spectrum app with her ROKU installed TVs. She was a very happy client who saved lots of money by ‘cutting the cable.’

Another new client had just moved into a much larger home and said her Wi-Fi and home theater ‘weren’t working right.’

Jeff diagnosed her internet issue and set up additional access points which he had with him. The previous owners’ Ubiquiti router was OK but didn’t provide coverage throughout the house. After installing the new access points, he tested all devices - cell phones, laptops, printers, TVs - in all parts of the house to make sure Wi-Fi coverage enabled everything to work everywhere. Then he checked out the home theater. The previous owners left a nice setup but no instructions. Jeff fixed the speaker system, helped her order a new sound bar, came back with a few ROKUs and re-wired the entire system. He then showed her how to use all the equipment in her home theater. The client was much relieved and very happy to now have a fully functioning home theater as well as fast, full Wi-Fi coverage.

What is Legacy Planning?

It provides protection for your family and property... and peace of mind for you.

BY SHERI TUCKER, ATTORNEY

egacy Planning is a

Lnew phrase for estate planning. Estate planning is a life plan that protects your legacy. It protects you in case of incapacity. It protects your beneficiaries at time of death. Legacy planning also means asset protection for wealth management, with higher end incomes that include different types of irrevocable trusts. If you want to preserve your legacy, then it’s time to take care of your estate plan.

YOUR LAST WILL

A Last Will and Testament is basic estate planning. A will takes assets titled in one person’s name who died through Probate Court. A Last Will and Testament is a public record of your assets and how you want your estate divided. If you are a parent, a last will and testament names a guardian for your children so that their security and future is one that you decided before a worse-case scenario happens. Why? Without a Will, Missouri laws dictate who will receive your legacy. It can be that brother or sister or niece you don’t like. No plan is a State plan. I think of the story of the boy orphaned because of the latest mass shooting. The recent tragedies strike home and I hope people will be proactive in planning their legacy. A Last Will is basic legacy planning. A Living Trust is the next option for your estate planning.

THE LIVING TRUST

People mistakenly believe that a living trust is only for the wealthy. That is a myth to bust. A living trust is not solely for wealthy people. The trust is a private document that sets out who inherits your assets. A Pour-Over Will comes with the living trust. The Pour-Over catches forgotten assets and pours them back into the trust at death. A home titled in the trust keeps the house value out of probate. A life insurance policy naming the trust is strong protection for living beneficiaries. Your legacy and distribution of assets remains private. The trust is not a public record of what you own and

who received your assets. When you work with an attorney to design and create your tailored estate plan, you are the Grantor who gives everything back to yourself as Trustee of your assets. Nothing changes but property and asset titles. People with moderate incomes benefit from establishing a living trust. If legal incapacity happens, a Successor Trustee may step in to preserve your legacy. A living trust is revocable and amendable during capacity. If you are a parent or have a family member with a disability, the living trust is a great option for family planning. You may create minors trusts for underage minors and name a Trustee. You may build a special needs trust for a family member with a disability. In addition, you can protect a loved one from themselves by creating a spendthrift trust inside your living trust.

LEGACY PLANNING FOR WEALTH

Wealth management works for the individual and for the business owner. Current tax proposals will impact your estate, gifting, and capital gain tax dollars. Strategies such as the Irrevocable Life Insurance Trust (ILIT), a Domestic Asset Protection Trust (DAPT), or a Grantor Retained Annuity Trust (GRAT) may meet your financial goals. As your wealth and assets increase, your estate planning needs to protect all your legacy. Why Now: Moderately wealthy families may start paying taxes never paid before. Business owners may not have enough plans in place. Proactive planning is critical now before the tax laws change. Let’s look at possible wealth management solutions.

BOTTOM LINE

People tend to procrastinate planning for the worse case scenarios. Why? Thinking about death and preparing for it are not pleasant. When you create a legacy plan that changes w with you and your family, you give protection to your family. A plan protects your legacy. You will have peace of mind. It’s better to plan that for your family to deal with financial burdens and costs in addition to mourning the loss of a loved one. Legacy planning is important. Book Now for your complimentary consultation with Sheri Tucker, your estate ally attorney.

SHERI TUCKER, ESQ. is the Founder and Owner of TUCKER LEGAL SERVICES, LLC. She has been licensed in Missouri since 1992. She is an experienced estate planning and elder law attorney, a member of the National Academy of Elder Law Attorneys, and WealthCounsel. Sheri is your “personal care attorney” for peace of mind in estate planning. To set up a complimentary consultation you can call or email Sheri at 314.332.0011 or info@tuckerlegal-llc.com.