A will is a legal document that states who receives your property upon your death.   In the State of Missouri, any person who is at least 18 years old and of sound mind can make a will. Additionally, it also must be signed and witnessed by two people.

One of the most common misconceptions about a will is that it avoids probate.  However, a will does not avoid the necessity of probate.  Rather, a will tells the probate court to whom you wanted to leave your assets upon your death.  Assets that pass through probate are therefore subject to the often significant expense and time delays of probate.  It is possible to title your property so that probate is not necessary. The St. Louis, Missouri wills attorneys at Redler & Seigel, P.C. analyze each client's estate to determine the potential costs associated with the probate of the client's assets.  Solutions are also a part of this analysis to ensure that each client's assets are transferred in the most efficient and cost effective manner.

While probate may not be the most efficient manner in which to transfer property to children, charities or other beneficiaries, it is generally better to have a last will and testament than not.  If one dies without a will, the person is said to have died intestate. The law of intestacy provides that, if an individual dies without a surviving spouse and without surviving children, property then passes to the decedent's parents and siblings or their children in equal shares. If there are no living parents or siblings of the decedent, then the property passes to the decedent's grandparents, aunts and uncles or their children.

If you die without a will, property that you own at death titled in your sole name transfers to beneficiaries as determined by Missouri law, not by your choice. The consequences can be directly contrary to your intentions.    Therefore, a great benefit of executing a will is to control who receives your property.  The only manner in which you can completely control the distribution of your own estate is through will or trust planning.

Another  significant benefit to having a will is that you can name a guardian for your minor children.  If you do not name a guardian in a will, the probate court can appoint an individual or individuals who you would not want making decisions regarding your minor children's day to day care.  Additionally, having a will allows you to set up a trust for your minor children.  If you die with minor children and do not execute a will, your children will likely be entitled to all of your property once they reach age 18. Alternatively, with a trust, you can specify that any distributions are to be made for a minor child's well being including education, health issues or day to day living expenses with any remaining balance held in trust until a child reaches ages that you specify.  Once the child reaches the age(s) you specify, distributions of remaining principal and accumulated income of the trust can be distributed to the child or you can choose to hold assets for the child in an asset protection trust for an extended period, even as long as the lifetime of the child.

Perhaps the most compelling reason to execute a will is that you will know that you have planned for your family.  Proper planning provides peace of mind. Without proper planning, surviving family members commonly encounter a great deal of difficulty in dealing with a decedent's estate and become extremely frustrated with the legal process. Contact the St. Louis, Missouri wills attorneys at Redler & Seigel, P.C. for a free initial consultation wherein we will analyze your specific situation, advise you of the repercussions of not planning for your incapacity and death, and propose solutions to avoid these repercussions.