We are often asked about what happens when one dies without a will in Missouri. The better question should be something like "What happens when one dies without a will, a trust, or any other mechanism to transfer my assets and property?" The answer is a little complicated. Again, we are assuming that property, assets, etc. ...
A Power of Attorney is "Durable" if it is still effective when the person who signed it is disabled. This person can be referred to by several terms, but we will call that Person the "Principal". Before the enactment of Durable Power of Attorney statutes, Powers of Attorney generally only carried the authority ...
Once again last week I got to explain to a client that Wills only work through the probate system. A very, very nice lady came in with her elderly mother's will. It had been prepared by an out of town firm by a lawyer recommended by a financial planner. The will was simple, but valid. When ...
Durable Powers of Attorney are instruments that literally everyone age 18 or over should have. Sooner or later the vast majority of us will be disabled and need for someone to handle our affairs. From time to time, however, we get calls and questions about how they work after the person granting the power dies. It ...
Once again today I got to explain to a child that a Will does not override a Beneficiary Deed. Beneficiary Deeds transfer property to another upon the death of the owner of the property. They are sometimes called "TOD" or "Transfer on Death" Deeds. Assuming the beneficiary is alive it happens instantly ...
In Missouri Guardianships and Convervatorships are established through the Probate Court to handle the affairs for someone when they cannot do it themself. They are established for a minor, or for an adult who is disabled and/or incapacitated. These terms have precise legal definitions. The person for whom these are established in ...
This is a true, but sad story. Mom and Dad owned a farm in North Missouri. Mom and Dad have two basic goals when they go see their lawyer. First, they want to keep the farm "in the family". Secondly, they want to do so as inexpensively as possible. They have their lawyer prepare prepare and ...