Resource Library

Free Online Legal Resources

What Are Some Other Considerations In The Use Of A Revocable Living Trust?

Certain legal issues regarding the use of a revocable living trust have not been answered under Missouri law. For instance, it is not clear whether an individual can disinherit his or her spouse by transferring all assets into a revocable living trust. Also, while a divorce automatically disqualifies a divorced spouse under a will that was signed prior to the divorce, the same may not be true with a trust. A revocable living trust may not be appropriate for certain assets. If stock is owned in a subchapter S corporation, the trust must comply with certain technical income tax requirements to avoid terminating the subchapter S status. Also, if the trust is named as the primary beneficiary of a qualified pension or retirement plan, or an IRA account, a surviving spouse will be precluded from completing a spousal rollover and deferring the income tax until later.

Speak to an Experienced Estate Planning Attorney Today

This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified estate planning lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local estate planning attorney to discuss your specific legal situation.

Additional Estate Planning Articles

Search LawInfo's Estate Planning Resources

Find an Attorney in Your Area

Estate Planning Attorneys

Related Estate Planning Issues