Author Archives: Jason Simmons

How Often Should I Review My Estate Plan and Beneficiary Designations?

Keeping your estate plan up to date is something that is very important. This includes making sure that your beneficiary designations are current and reflect your wishes. I recommend reviewing your plan every two to five years, or upon the happening of a major life event to you or anyone named in your documents. While read more…

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Increases to the Annual Gift Exclusion, Lifetime Gift Exclusion and Federal Estate Tax Exemption Amounts

Over the past decade, there have been significant changes to the federal tax laws concerning the estate and gift tax laws. The Tax Cuts & Jobs Act that was recently passed and enacted served to increase the lifetime exemption amounts under the estate tax and gift tax. For 2018, the applicable amounts are as follows: read more…

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The Importance of Reviewing Your Trust

If you have taken the initial step of meeting with an attorney and have a trust in place, it is still important to review your trust periodically.  While it may be important just to make sure that your property will still go where you want it to go, or that the persons you have named read more…

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Business Succession Planning-A Goal-Driven Process

Helping small business owners with their estate planning always brings with it a discussion about what will happen with the business when the owners wish to retire. In many circumstances, the business will constitute the owner’s major asset – constituting not only their primary source of income – but also the asset with the largest read more…

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Do You Really Have Limited Liability?

As a business attorney, when I meet with new clients who want to form a new business, either a corporation, limited liability company (also known as LLC’s) or other entity, one of the primary motivations in doing so is to protect their personal assets from the risks of the business. It is during this part read more…

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What is the Purpose of My Company

  While it is certainly easy to set up a corporation or a limited liability company (also known simply as an LLC) in the 21st century, there are still good reasons to consult an attorney when doing so. Failing to consult a business planning attorney might lead the business owner to incur personal liabilities that read more…

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Changes to Missouri Statutes Affecting Security Deposits

During the 2016 legislative session, the Missouri General Assembly adopted House Bill 1862, which was signed into law by Governor Jay Nixon on July 14, 2016. The new bill went into effect on August 28, 2016. What is the significance of this new law and why am I writing a blog post about it? Because read more…

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“My Banker Says I Need an ‘Operating Agreement.’ What is that?”

Oftentimes, new business clients will contact the office saying that they were referred by their banker who tells them that they need an operating agreement. Inevitably, one of the first questions that they have is “what is an operating agreement?” An operating agreement is, quite simply, an oral or written contract among the members of read more…

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Your Initial Estate Planning Consultation: How to Make the Most of It

So, you have been telling yourself that you need to get your estate planning documents in place, or possibly just have a few updates. You have taken the first step in making contact with Cripps & Simmons, and now have an appointment on your calendar. During your call to schedule the appointment, our Receptionist collects read more…

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Buying and Selling Real Estate

Several times a year, potential clients call the office asking for help in either buying or selling real estate. Oftentimes, real estate transactions are viewed as extremely complex and difficult transactions. In reality, they are generally simple. Most of the time, there are several parties involved which can cause it to appear more complex. Real read more…

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