Legal Question in Wills and Trusts in Missouri

Re: Wills

Your question is similar to one like, Do we really need health insurance or seat belts in our car. The answer to both is "yes" if you are ever going to get sick or in an accident. In your situation the answer is probably "yes" if you are ever going to die.

From what you describe, it sounds like you have taken several steps to see that some of your your property passes outside of probate. This sounds wise, based on teh limited information you have provided. Be careful with the beneficary deed, as many people screw them up, for living donors.

You did not describe what other property you and your husband own. For most things, when one of you passes away, those things not already addressed will go to the survivor. Assuming that you both get along with your children, there is not likely to be any problems with that.

If, however, you and your husband perish together, which is rare, there could be some problems. I tell my clients that people sometimes act surprisingly callous and jealous after the death of a parent. Try to picture your worst family vacation memory, the one where the children bickered constantly in the back seat and made wild claims that the other was taking up their space, view, seat, etc. Adult children can regress back to that state after the death of their parents. One need only look at the debacle of the fight over Ted Williams' remains to illustrate the absurdity of adult children seeking their birthrights. That situation could have been settled with a good will.

Folks in Missouri are fortunate because they can make exhaustive lists that get very specific, as to which antique silver teaspoon, e.g. shall go to which niece or nephew, and alter the list up to the hour of their death, if it is properly addressed in their will. This gives many elderly people peace of mind, and prevents many hurt feelings and confusion after they have past on.

When I was young, I never purchased more health or life insurance than what my employer provided for free, because I was healthy, never going to get in any accidents, and might possibly live forever. Perhaps you don't need a will for the same reasons.

Good Luck

Tony Smith

816-763-4330