Wills
A will is a legal document that states who will receive your property upon your death. Anyone over the age of 18 who is of sound mind may draft a will.
If a person dies without a will in place, any property he or she owns is passed to relatives. If there are no living relatives, the estate becomes property of the state. There are numerous benefits to drafting a will, however, it's important to consult with an attorney to ensure your will is valid and enforceable. In your will you can control who receives your property, including sentimental belongings you want to go to specific people and donations to any organization you may choose. You can decide whether or not to be an organ donor, and what will happen to any damages you may receive if you death is accidental or caused by another person. You can also nominate a guardian for your children or others in your care, and create trusts for your loved ones to reduce interference during the probate process. Creating a will can also decrease your death tax liability and save your family excessive estate administration fees. Perhaps the greatest benefit is the peace of mind that by drafting your will, upon your death you will have greatly reduced the burden on your loved ones.
A will can be changed or cancelled at any time. Cancelling a will is as simple as destroying all copies, and creating a new will automatically voids any previous wills in existence. There are ways to alter existing wills, but often it is simpler to draft a replacement. A person may consider revising his or her will in the event of marriage, divorce, incapacitation of a loved one, birth or adoption of children, your estate changes in value, or you move away from the state in which the will was created. Missouri will honor wills drafted in other states so long as the will meets Missouri requirements. Your attorney can review your will to ensure it is enforceable in Missouri.
It's imperative to draft your will with the guidance of an attorney. An invalid will can create an incredible amount of stress on your loved ones when you are no longer around to clarify your wishes. Your experienced estate law attorney at HSSO will help you draft your will and ensure it meets all Missouri requirements, and discuss your options for Durable Power of Attorney and Health Care Directive to create a comprehensive plan for you, your estate and the people you love.
DPOA of Property and Finances
A Durable Power of Attorney of Property and Finances is a person assigned to manage and care for your property and finances in the event of your death or incapacitation. This particular DPOA has no control over your healthcare decisions. Assigning someone as DPOA of Property and Finances gives them power over real property transactions, tangible personal property transactions, stock and bond transactions, commodity and option transactions, banking and other financial institution transactions, business operating transactions, insurance and annuity transactions, and estate, trust and beneficiary transactions, as well as claims and litigation, personal and family maintenance, benefits from government programs or military service, retirement plan transactions and tax matters. A DPOA can be assigned power over some or all of these areas.
You will have the option to limit or extend the Durable Power of Attorney's power in these areas, and also name a successor in the event that the chosen DPOA is unable to assume the responsibility. You may also decide whether the DPOA shall have the authority to delegate discretionary decision-making responsibilities to others, and whether the DPOA will be entitled to reasonable compensation for his or her services.
Assigning a Durable Power of Attorney protects your wishes in regard to your property and finances, as well as relieves loves ones such as your spouse, children, or other relatives of a heavy burden during a very emotional and stressful time.
DPOA for Health Care and Health Care Directive (Living Will)
A Durable Power of Attorney for Health Care is a person assigned to enforce your decisions about your health care should you become incapacitated or unable to communicate your wishes. The DPOA for Health Care has no control over your finances. Choosing a DPOA for Health Care gives that person the power to consent, refuse or withdraw consent to artificially supplied nutrition and hydration, make necessary arrangements for health care on your behalf, hire and fire health care personnel on your behalf, request, receive and review your medical and hospital records, take legal action to enforce your wishes, and carry out your wishes regarding your autopsy, organ donation and what is to be done with your body.
Your Health Care Directive, or "Living Will," outlines your choices regarding your medical care and treatment in the event you are incapacitated and unable to communicate your wishes. In this directive you may specify what treatments or procedures you will or will not allow, such as surgery, dialysis, artificial nutrition and hydration, chemotherapy, organ donation, etc. You may also make specific directions for your health care and outline what you consider to be an acceptable quality of life to maintain.
A Durable Power of Attorney for Health Care and your Health Care Directive serve to protect your wishes when you are unable to communicate or enforce them yourself. In combination these measures ensure that your personal wishes will be honored, and that your family and loved ones will not be pressured to make these difficult choices on your behalf.
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It's never too soon or too late to make arrangements for your health and finances in the event of your death or incapacitation. The attorneys at HSSO will work diligently to ensure you have a plan in place that will protect your health, assets, dignity and loved ones when you are unable.
Holder Susan Slusher Oxenhandler LLC, Attorneys, 107 North 7th Street, Columbia, MO 65201
