Making a Missouri Will: What You Need to Know and How to Get Started

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MAKING A MISSOURI WILL What You Need to Know and
How to Get Started
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WHAT IS A WILL?
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WHAT IS A WILL?
Sometimes referred to as a last will and
testament, a will is a legal document that
serves a variety of purposes, such as choosing
how to distribute inheritances
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WHAT IS A WILL?
There are several important purposes a will
serves in the state of Missouri
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ONE MAIN TYPE OF WILL
Most people in Missouri create an attested will,
a document that is printed and, often, written
by someone else on your behalf
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To create this type of document you need to meet
specific legal requirements
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OTHER WILLS
Even though the state of Missouri allows for
attested wills, there are other forms of wills
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Though state law differs significantly, the two
main types that you may be able to create include
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Though state law differs significantly, the two
main types that you may be able to create include
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WHO CAN MAKE A WILL?
Anyone who makes a will is called a testator
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This term refers to the person whos creating the
will in order to distribute his or her property
or do anything else a will allows you to do
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While you can have someone else physically type
or print the document on your behalf, a testator
has to meet specific legal requirements
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Sometimes you might come across the word testatrix
A testatrix is simply a female who makes a will,
while a testator is a male who makes a will
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However, the term testator is often used to
refer to either males or females who make a will
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TESTATOR CAPACITY
Before you make a will you must have the legal
capacity to do so
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Legal capacity for will making requires
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NON-REQUIRED, BUT VERY IMPORTANT, CLAUSES
No two wills are identical, and each should be
designed to fit the testators needs
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Testator Choices
While the state of Missouri requires specific
conditions to be met for your will to be legally
valid, there are other clauses you also need to
include to make it practical and to avoid
potential problems
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WHAT IF YOU DONT MAKE A WILL?
In the event you do not make a last will and
testament, or a court finds that your will did
not meet all the legal requirements, Missouri has
laws that will determine who inherits your
property
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Intestacy
These are known as laws of intestate succession,
and they give your property to people based on
their relationship to you
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For example, your spouse may stand to inherit
your entire property, or it may be divided
between your spouse and your children, your
parents, your siblings, or even more distant
relatives
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Guardianship Appointment
If you have minor children and dont create a
will, the court will have to select a guardian
for you
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Even if you nominate a guardian the court would
still have to approve your nomination, but if you
dont select your own choice the court will have
to investigate and select someone it finds
appropriate
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This person could be someone you do not approve of
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OTHER CONSIDERATIONS
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Disinheritance
In general, you can use your will to distribute
your property however you want
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However there are two instances in which special
rules apply
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Changes
Many people believe that once they make a will
and leave someone an inheritance they cannot
later go back and change it
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This is FALSE
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Your will is not a legally binding contract and
you can change your mind and change your will as
long as you remain of sound mind
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There are two basic ways to do it
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There are two basic ways to do it
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CONCLUSIONS
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Dont Wait
A majority of Americans have not made a will, and
too many of them wait to do it
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There is never a better time to make a will than
right now, and they are usually very
cost-effective
Once you have one made the process of amending it
later should your choices change is relatively
simple
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Wills Are Just the Beginning
Once you create a last will and testament you
should follow it up by creating other essential
estate planning documents
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A will is a good start, but it is not enough to
guarantee all your choices will be followed
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LEARN MORE ABOUT MAKING A WILL IN MISSOURI
MAKING A WILL IN MISSOURI
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Click to visit www.yourestatematters.com