Posts by Lindsay Allred
B. Cory Lee’s Press Release
JensenBayles, LLP is pleased to announce that B. Cory Lee joined the firm and will be working with the litigation team. Cory has an extensive background in Tax. He graduated from the University of Missouri School of Law with a Juris Doctor (JD) in the top 25% of his class. At the University of Missouri,…
Read MoreASK TOM: Why Do I Need a Durable Power of Attorney and a Health Care Directive?
While you are setting up your estate you will come to find that a lawyer’s dictionary might be helpful. Words are thrown at you every which way. Warranty deed? Beneficiary? Taxes?! A couple of terms that you should be familiar with are ‘durable power of attorney’ and ‘advance medical directive’ since they will directly affect…
Read MoreAsk Tom: What Can I do Today To Help My Family When I Pass Away?
Each of us live week to week, day to day, and sometimes hour to hour. We get wrapped up in the routine of our busy schedules and sometimes we forget the certainty of death. Some of us leave this life early and others late, but there is no denying that none of us can outrun…
Read MoreASK TOM: What are Red Flags for Beneficiaries of Trusts and Estates
If you are a beneficiary of a deceased person’s Trust or Estate, and you are experiencing the following, you are in the red flag zone where something needs to be done: You don’t see the bank statements, even when you ask for them. You don’t get copies of financial statements at death and on an…
Read MoreASK TOM: What Entity Should I use for Real Estate Investments?
There are three types of entities that are commonly used to own real estate. These are Limited Liability Companies (LLC), S Corporations (S-Corp) and Trusts. Let’s review what these three entities are, as well as, which one would be best for your real estate investments. Limited Liability Company (LLC) Limited Liability Companies are better for…
Read MoreASK TOM: To Give or Not to Give Big Gifts?
A Time to Give: If one spouse has a catastrophic illness or is trending in that direction (say due to declining ability to keep track of things), it is a time to consider large gifts. The gifts are expedient if there is no resource with which to pay nursing home care as the sick spouse…
Read MoreAsk Tom: What are the advantages and disadvantages of a pot trust?
What is a pot trust? A pot trust is a trust for children, who are still depending on their parents who passed away before the children reach adulthood. The purpose of a pot trust is so the trustee can determine the financial needs of the children who still haven’t made it to adulthood. Essentially the…
Read MoreASK TOM: What is a Living Trust?
One of the most common questions I hear when people are discussing planning their estate is, “Should I have a living trust?” My short answer to you is, “Yes.” In general, but not always, the approach for people who own their home and have some is investments is, “Yes.” I will explain why, but first…
Read MoreASK TOM: Are Prenuptial Agreements Really Necessary?
You are getting married — for the second time. While everyone is congratulating you on finding love again, your children are encouraging you to complete a prenuptial agreement. Why are your children so concerned about your new life? Are they overreacting? Most children who have experienced a parent in a second marriage attest it is…
Read MoreAsk Tom: What Should I Know About Wills and Probate?
Most of us have a basic understanding of Wills and Probate but sometimes that knowledge is as basic as Wills are good, Probate is bad. While there is some validity to that thought process, here are a few misconceptions: If I die without a will, the probate process will take years. The probate process, while time…
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