Thursday, December 31, 2020

Possible Updates To Make To Your Estate Plan in 2021

2021 is approaching! Are you ready for a new year? It's pretty clear that 2020 has been hard on everyone. This year has affected every person in one way or another. Our estate planning attorneys at the Lake of the Ozarks are here to give you a few possible updates you may want to make to your estate plan in the new year, in this week's blog. Life changes every day and sometimes, some of those major changes may prompt a change to your estate plan. If you have questions you'd like answered by an experienced estate planning attorney, please call Gibbons Law Firm today. We can be reached at 573-348-2211.


Possible Updates To Make To Your Estate Plan in 2021

DID YOU LOSE YOUR JOB IN 2020?

The format your estate plan follows will depend on your overall financial situation. If you first built your estate plan when you were just starting out, you may want to update it once your career is well established and your income has increased. You may also want to consider updating your plan if you receive a significant influx of money from an outside source, such as inheritance or lottery. By the same token, a decrease in financial status may also be cause to update your estate plan. 

DID YOU BUY A HOME IN 2020?

If you have recently bought a home, boat, car, or other expensive asset, we recommend you update your estate plan to reflect this new possession. You can use your estate plan to identify whom should inherit this asset after you pass, but that will not be your plan's only purpose. Assuming that you financed your purchase, your estate plan will also fill the important role of specifying how any remaining debt on this belonging is to be repaid. 

DID YOU GET DIVORCED?

If you already have an estate plan in place, it is important that you update it when you get married. Though many of your belongings may be automatically transferred to your surviving spouse upon your death, it is best not to assume that this will always be the case. If you do not want your spouse to receive immediate access to some of your assets, it important to specify this in your estate plan as well. Since your desires will likely change in the event of a divorce, you will also want to remember to update your estate plan if your marriage should end.

DID YOU HAVE A BABY?

Raising children is a big responsibility. Food, shelter, clothes, guidance, support, companionship... your little ones will look to you for absolutely everything. If something happens to you, your children will need someone else to provide for their needs. So as to ensure that each child's needs will be met, we recommend updating your estate plan every time you have (or adopt) a new child. The most important aspect of this will be to appoint a replacement guardian for your children, but you can also use your estate plan to dictate how your assets should be divided among your children and at what age they should receive access to these assets.



Do You Have Questions About Your Estate Plan?

The estate planning process can be complex at times. With the constant changes you may be experiencing in your life, you may be wondering when it's appropriate to change your estate plan along with it. Please do not hesitate to give us a call if you have any questions about this process. Your estate plan is very important and should be handled properly. We can be reached at the number listed below and you can follow us on our social media channels listed to see what we're discussing each week.


Remember, your initial consultation with Gibbons Law Firm is always free.


Your Trusted Legal Resource

Gibbons Law Firm
2820 Bagnell Dam Blvd, Suite B4
Lake Ozark, MO 65049
(573) 348-2211

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Wednesday, December 23, 2020

Property Division FAQs

Divorce - what a complex issue this can be. Whether you're going through your first divorce or you've been through this before and unfortunately, it's happening to you again, it's never easy emotionally. However, information can help ease your worries. Having the answers you need to be well-informed throughout this process can really help put your mind at ease. Our divorce lawyers at the Lake of the Ozarks are here to give you answers to a few frequently asked questions about property division in divorce, in this week's blog. If you have even more questions, please call Gibbons Law Firm today for your free consultation. We can be reached at 573-348-2211.


Property Division FAQs


Q: WHAT HAPPENS IF MY SPOUSE AND I CAN'T AGREE ON ANYTHING?

A: If you and your spouse are not able to come to an agreement, the alternative is to allow the Court to decide. The Court will divide your marital assets in an equitable (but not necessarily equal) manner. When determining how to divide the assets, the Court will consider a variety of different factors including both spouses' current income, both spouses' earning potential, and how each spouse handled their finances during the marriage. Based on these (and other) factors, the Court will determine an arrangement that will meet each spouse's needs in a way that is fair and equitable.


Q: WHAT HAPPENS IF MY SPOUSE AND I DO AGREE ON HOW WE WANT TO SPLIT OUR PROPERTY?

A: If you and your spouse are able to be amicable and cooperative, designating your own plan for dividing assets may be an ideal solution. This generally the most desirable option since it allows both you and your spouse to have complete control over the division of your property. You can work together to devise an agreement that will accommodate both of your needs.

Q: WHAT QUALIFIES AS MARITAL PROPERTY?

A: The first step is to determine your collective assets. The ultimate goal will be to divide the total assets fairly and equitably, but in order to do that, the Court must first have a realistic understanding of the assets involved in the divorce. Marital assets may include:

  • Retirement accounts
  • Investment accounts
  • Bank accounts
  • Life insurance
  • Cars
  • Homes
  • Furniture
  • Jewelry
  • Clothing
  • Cash

It's important to note that as a general rule, the only property that will be up for division is that which is considered "marital property." Generally, any assets acquired after the wedding date is automatically considered marital property unless specifically designated otherwise. 


Divorce Lawyers in Lake Ozark, MO

No one wants to be going through a divorce, especially during the holiday season, right? If you are in this sort of unfortunate situation, though, please do not hesitate to give us a call with any questions you may have. Our law firm provides consultations and your first one is free. This is a good opportunity to get the questions you have answered. We can be reached at the phone number listed below. You can also stay up to date on all of the helpful information we offer by following us on our social media channels listed below.


Remember, your initial consultation with Gibbons Law Firm is always free.


Your Trusted Legal Resource

Gibbons Law Firm
2820 Bagnell Dam Blvd, Suite B4
Lake Ozark, MO 65049
(573) 348-2211

Follow us on...

Friday, December 18, 2020

Why You Should NEVER Drive Distracted

This is 2020. It's clearly been a tough year for everyone and there's no reason to add on to the heartbreak by driving irresponsibly. By that, we mean, driving distracted. The consequences just simply aren't worth it. When you drive distracted, you aren't only putting your life at risk, but you are endangering the lives of those around you as well. Our personal injury lawyers at the Lake of the Ozarks are here to give you a few reasons why you should never drive distracted in this week's blog. If you have been involved in an auto accident that was caused by a distracted driver, please contact one of our personal injury attorneys in Lake Ozark today. Gibbons Law Firm can be reached at 573-348-2211. Your first consultation is free. 


Why You Should NEVER Drive Distracted


THE LEGAL CONSEQUENCES ARE TOO GREAT.

While distracted driving may not be illegal, there are legal consequences you may face if you do operate a vehicle while focused on something else. If someone is injured due to your negligence while operating a vehicle, you may face a wide range of penalties – including the risk of being sued. 

Here are a few examples of driving distracted.

APPLYING MAKE UP OR SHAVING WHILE DRIVING.

A number of people will take care of some facial grooming behind the wheel. From putting on makeup to shaving, you may feel like you are saving time if you do these tasks while driving. Multitasking behind the wheel is dangerous for you and others on the roadway.

SENDING OR READING TEXT MESSAGES.

Texting takes visual, cognitive, AND manual attention away from driving - all at the same time. The average time the eyes leave the road to read a text message is five seconds. That is about 100 yards if you are traveling 55 miles per hour. A driver is 23 times MORE likely to be involved in an accident if they text while driving.

MESSING WITH A NAVIGATION SYSTEM.

It's best to configure your GPS before starting to drive. Trying to type in an address while moving can be difficult and dangerous. When driving, try to pay attention to what your GPS is telling you ahead of time. This can help to avoid last-minute lane changes when you are busy driving.

CONSUMING FOOD WHILE DRIVING.

When you eat while driving, you are taking your attention away from the roadway. Many times you may look down to search for your food in the bag or look to locate your drink. When you eat in the car, there is a higher chance of dropping food which can lead to further distractions trying to pick it back up. Anytime your eyes leave the road or your attention is drawn away from driving, it can create a dangerous situation on the roadway.



Personal Injury Attorneys at the Lake of the Ozarks

Drive safely and pay attention while out on the roads. Not only are there distracted drivers out there, but before long poor winter weather road conditions will be here. Stay alert and drive cautiously. If you or someone you care about has been injured in an auto accident caused by a negligent or distracted driver, please give us a call today. Gibbons Law Firm can be reached at the phone number listed below. We provide consultations and the first one is free. You can also follow us on our social media channels listed below to stay up to date on our latest announcements.



Remember, your initial consultation with Gibbons Law Firm is always free.


Your Trusted Legal Resource

Gibbons Law Firm
2820 Bagnell Dam Blvd, Suite B4
Lake Ozark, MO 65049
(573) 348-2211

Follow us on...

Thursday, December 10, 2020

The Helpful Benefits of Hiring an Experienced Business Attorney

2020 has been a TOUGH year on small businesses. The COVID-19 pandemic has affected everyone in one way or another, but some small businesses have really struggled. Our business attorneys at the Lake of the Ozarks want you to know we will get through this together. That being said, some small businesses have actually thrived during this pandemic. Keep reading this week's blog for a few ways an experienced Missouri business attorney can help your small business. If you end up having any questions or would like some legal assistance with your small business, please give us a call today. Gibbons Law Firm can be reached at 573-348-2211 for your free consultation.



The Helpful Benefits of Hiring an Experienced Business Attorney


AN EXPERIENCED BUSINESS ATTORNEY CAN HELP YOU...

ESTABLISH A SUCCESSION PLAN.

If you are starting up a business, exiting the business is likely the last thing on your mind. Even if it is years down the road, it's important to put this type of succession plan in place. A lawyer can help you iron out the details as to who will gain ownership, who will carry out the day to day activities, and/or how your succession will play out. It's also important to have documentation in writing for whoever will be taking over down the road. This day may be here before you know it and it's easier to have everything documented ahead of time, especially if the takeover is sudden and unexpected.

AVOID A POTENTIAL LAWSUIT FROM AN EMPLOYEE.

Employment can be a very sensitive subject. Many small businesses will hire on a family member or friend and skip over the formal hiring documentation. Avoid skipping the legal stuff when it comes to hiring employees - even if it is a friend or family member pitching in and helping. Hiring someone is a professional process and should be treated as such with the proper documentation. These documents can help save your business from a potential lawsuit, down the road. Any hiring and firing should be fully documented.

DETERMINE WHAT TYPE OF BUSINESS YOURS WILL BE.

As you create your small business, it's important to have the proper documentation in place. A number of legal decisions will need to be made as you gear up for your venture. Deciding what type of corporation is the first big decision that will need to be made. A lawyer can help advise you as to which option is the best fit for your unique personal and business situation.

MAKE SURE YOUR LEGAL DOCUMENTS ARE CORRECT.

As you run your business, you will come across the need for a ton of documentation - even on a daily basis. It's important to have that go-to person to review your legal documents before you or someone else signs them. Any contracts you put together should be reviewed and you should have a legal advisor take a look at any documentation before you sign your name or business name. It's best to have a lawyer look at this kind of document before, instead of asking questions after the fact.



Are You Ready To Hire An Experienced Local Business Attorney To Help Your Small Business?

All of us here at Gibbons Law Firm hope you found this blog enlightening and helpful as a small business owner. If you have any questions about our business attorney services or would like to schedule a consultation, please give us a call at the phone number listed below. Your first consultation is free. Be sure to follow us on our social media channels listed below to stay up to date on our latest announcements.


Remember, your initial consultation with Gibbons Law Firm is always free.


Your Trusted Legal Resource

Gibbons Law Firm
2820 Bagnell Dam Blvd, Suite B4
Lake Ozark, MO 65049
(573) 348-2211

Follow us on...

Friday, December 4, 2020

Parents: Have You Thought About THIS When Planning Your Will?

Plan for the worst and hope for the best. Sometimes this can be easier said than done, especially as a parent. You don't want to think about "the worst". Our estate planning attorneys at the Lake of the Ozarks understand that. It's not easy to talk about, but it should be discussed. What happens to your children if you pass away, unexpectedly, before they come of age? Keep reading this week's blog for a few things to think about when it comes to planning your will as a parent. If you have any questions about putting together a will, please call our Missouri estate planning attorneys today. Gibbons Law Firm can be reached at 573-348-2211.



Parents: Have You Thought About THIS When Planning Your Will?


THE ASSETS YOU WANT TO MAKE SURE YOUR CHILD WILL HAVE.

In your will, you can narrow down when and how your children will receive your assets. Many times, guardians will be given a portion of the assets in order to help with the expenses of raising the child. On other occasions, all assets may not be distributed until the child is of legal age – 18 years old. You can specify exactly how your child will gain access to your financial assets.

THE PERSON YOU WANT TO BE RESPONSIBLE FOR YOUR CHILD.

If you have someone in mind to care for your child if something should happen to you, it’s important to get that information legally documented. This can help ensure that your child will be with who you intended to help raise them and have guardianship over them. Whether it’s a relative or a close friend, your child should be cared for by the person you wish to do so. If both legal parents pass away, a court will decide who should care for the child or children in question, if there is no specific indication in a will.


WHETHER OR NOT YOUR CHILD WILL BE MOVING TO A NEW CITY.

If you want your child to keep up with his or her normal routine, you can specify where you would like your child to be raised. Whether you intend for the caretaker to move into your home to offer a familiar environment for your children or you want to specify that your child attends the same school, it’s important to note any special requirements that would like to take place.


YOUR CHILD'S FINANCIAL SUPPORT.

Another factor that goes into deciding who will care for your child is how will they financially support your little one. Taking on the care of a child can impact the financial situation of the caregiver. From added food expenses to the cost associated with school activities, you will have to factor these types of expenses into your decision. You can designate a certain amount of your assets to be distributed to the individuals who will gain guardianship of your child. You can also specify that any money that is distributed be used for the sole purpose of raising your child, to avoid it going toward another cause.



Need Assistance Getting Your Will Together?

Gibbons Law Firm is here for you! Your will is a very important document and having an experienced estate planning attorney in Lake Ozark create it for you can help ensure that it is done properly. If you have questions about the estate planning process, please call our phone number listed below. Your first consultation is free and we are here to answer any questions you may have. You can also stay up to date on our latest announcements by following us on our social media channels listed below.


Remember, your initial consultation with Gibbons Law Firm is always free.


Your Trusted Legal Resource

Gibbons Law Firm
2820 Bagnell Dam Blvd, Suite B4
Lake Ozark, MO 65049
(573) 348-2211

Follow us on...