A Last Will and Testament is a document that defines how your property will be distributed upon your death. It determines who will be the Personal Representative and handle the distribution of your assets through the probate court. It can state who gets the house. It can provide for specific bequests of items like heirlooms, collectibles or antiques. It will establish who will be guardian(s) to care for your minor children? These are just some of the issues determined and set forth in your Will. We will obtain the necessary information to prepare a solid document that will be admitted in Probate Court and withstand challenges to its validity.
Our office will review your assets and discuss with you how you want your estate to be distributed. Making sure your goals for today and tomorrow are met is our personal goal at the Nolan Law Office. Contact us online or at (314) 725-1880 to learn more about wills specifically and estate planning generally so that you and your heirs do not get surprised in a way that is to your detriment.
What is the Purpose of a Will in Missouri?
The person creating a Will is known as a testator. The testator devises property and assets to named beneficiaries in a Will. This gives the testator the power to manage the distribution of assets and payment of necessary expenses after they pass away.
As such, the Will serves these important functions:
- It allows you to control what happens to your property when you die.
- It protects your minor children by appointing a guardian.
- It allows you to appoint your desired Personal Representative to oversee the administration of your estate.
- It allows you to provide for Independent Administration with minimal court involvement.
- It allows you to provide that your Personal Representative can serve without purchasing a surety bond.
- It reduces the costs and uncertainty involved where there is no Will.
In order for the Will to work as intended, it must adhere to proper procedures in accordance with state law.
General Requirements of a Will in Chestfield
Each state's requirements of a Will and what makes it valid may differ somewhat, but all states have four requirements that are true no matter what.
- The testator must have testamentary intent, meaning the testator subjectively intended to create the Will.
- The testator must have testamentary capacity, meaning that they understood they were creating the Will at the time of its execution.
- The Will must have been executed without the interference of fraud, duress, undue influence, or mistake.
- The Will must have been duly executed through in proper ceremony and witnessed by two unrelated adults with all persons present at the time of signing.
Intestacy: The "Default" Method if You Die Without a Will
If someone dies without a Will, this is known as dying "intestate." If someone dies without a Will, property will be distributed to the heirs as set forth under Missouri law. This distribution may not be what you want. Not everyone wants their assets distributed to their next of kin. A Will provides a road map to distribute your property in accordance with your wishes and your plan, not the default plan under the law. A Will allows you to choose your own Personal Representative and to provide that your Personal Representative willl not need to post a surety bond to administer the estate. A properly execute Will eliminates uncertainty and provides for a smoother administration of your estate.
Family
Intestacy laws are designed to pass property in a way that most people would want it to pass, which basically means any property is passed to immediate family members first, like children, then parents, siblings, grandparents, and so on. Intestacy laws only benefit you if you are happy that your property is distribued to your immediate or closest family members.
The problem that if you have stopped a relationship with a family member, that will not be taken into consideration when their is no Will and State intestacy laws determine the distribution of your assets. This could result in property, (or even the custody of a minor child) passing to a relative whom you would not wish to be a beneficiary and/or guardian.
Probate
Property governed by intestacy law must pass through probate court, first, which can be expensive and time-consuming, leaving fewer benefits and more burdens for your loved ones. That said, a valid Will also goes through probate to implement its provisions. The only difference is a well-crafted last will and testament will go through probate rather quickly and without incident because it's harder for someone to challenge it. If your primary goal is to AVOID PROBATE, you will likely want to consider a Revocable Living Trust or other non-probate estate planning strategies. A Will is DESIGNED FOR PROBATE COURT.
Further, there are other ways to distribute property according to your wishes while also avoiding probate completely. Speaking with an estate planning lawyer will help you determine what will work best in your specific situation and with your specific assets.
The Risks of “Do-It-Yourself” Wills in Missouri
The expense and lack of control that comes from dying intestate, coupled with the perceived costs of hiring a lawyer to write a will, has led to a huge increase in the use of “do-it-yourself” wills. These forms, often found online for a fee, which claim to be just as good as a traditional Will or Trust prepared by an experienced attorney.
These "one size fits all" documents, however, are not tailored to your unique circumstances. Online forms are typically generic and may purport to be valid in all states. These documents may or may not comply with the requirements of Missouri law.
WIth that said, in the least, it is a good idea to have an attorney review your last will and testament to make sure it's in compliance with state and federal laws.
Contact an Attorney for Wills in Missouri
If you are considering making a Last Will and Testament, be sure that you comply with your State law and provide very specific instructions in the will. At the Nolan Law Office, we help our clients create effective estate plans that comply with all aspects of State law. We'll discuss your options and goals to provide you with the best estate plannning package for your needs. We can prepare a Revocable Living Trust for you if that is a better vehicle for you to achieve your goals. We will also provide advice on other non-probate transfers and estate planning strategies. You can contact us by filling out the online form or calling us directly at (314) 725-1880 to schedule a Free 15 minute consultation.
