As a Chesterfield, MO estate planning lawyer, we frequently help clients understand the legal language involved in setting up a clear, enforceable plan. Estate planning involves many legal tools that work together to protect your wishes, your property, and the people you care about. Below are five essential terms we often explain in our meetings. Each plays a specific role in creating a complete and legally sound estate plan.
Last Will And Testament
A last will and testament is a legal document that details how your assets will be distributed after death. It can also appoint an executor to carry out your wishes and name a guardian for any minor children. Without a valid will, Missouri law decides who receives your property — and the court chooses a guardian if you leave behind young children. Having a legally drafted will helps prevent disputes and keeps your final intentions from being misinterpreted.
Your will must meet Missouri’s legal requirements, which include being signed and witnessed appropriately. A will goes through probate, a court process that oversees its administration, so clarity in the document is critical. We recommend reviewing it every few years, especially after life changes such as marriage, divorce, or the birth of a child.
Revocable Living Trust
A revocable living trust allows you to keep control of your assets during your lifetime while simplifying how they’re passed on after death. Assets placed in a revocable trust avoid probate, meaning your beneficiaries can receive their inheritance faster and more privately. This tool is particularly helpful for individuals who want more control over how and when assets are distributed.
Because the trust is “revocable,” you can make changes to it at any time during your life. This makes it a flexible option for families who may have evolving needs. A revocable living trust can hold real estate, bank accounts, investment portfolios, and personal property. Once you pass away, the trustee you’ve chosen carries out the instructions in the trust document.
Durable Power Of Attorney
A durable power of attorney is a document that allows someone you trust to manage your financial matters if you become incapacitated. This person, known as your agent, can handle day-to-day responsibilities like paying bills, managing real estate, or making investment decisions. Without this document in place, your family may have to go through court to gain legal control of your finances.
Because it is “durable,” this type of power of attorney remains valid even if you lose the ability to make decisions. That makes it an essential part of any estate plan. It’s important to choose someone who is reliable and who will act in your best interest. We usually recommend naming a backup agent in case your first choice is unavailable.
Health Care Power Of Attorney
A health care power of attorney gives legal authority to someone to make medical decisions on your behalf if you cannot speak for yourself. This is different from a financial power of attorney. Your agent under this document might be asked to approve or deny treatments, talk to doctors, and make end-of-life decisions based on your wishes.
It’s wise to pair this with an advance directive, which gives more specific instructions about the kind of care you want or don’t want in certain medical situations. Having both documents in place prevents confusion and helps your family make decisions that match your preferences. In Missouri, these documents must comply with state laws to be valid, so working with a lawyer is strongly advised.
Beneficiary Designation Review
Many assets, such as retirement accounts, life insurance policies, and payable-on-death bank accounts, are passed directly to named beneficiaries outside of your will or trust. Because of this, reviewing beneficiary designations is a key part of estate planning. If designations are outdated or contradict your other estate documents, the wrong person might receive those assets.
We help clients regularly review and update these designations to align with their estate plan. Changes like marriage, divorce, or the birth of a child often require updates to beneficiaries. Keeping these aligned avoids legal conflicts and ensures your property is distributed the way you intended.
Since 2012, Legacy Law Center has helped Missouri families build estate plans that work — not just on paper, but in real life. We tailor each plan to fit your personal goals, protect your property, and give your family the legal clarity they need.
Contact our office today to schedule a confidential consultation and take the first step toward planning your future with confidence.
