You may have a substantial amount of money and assets to leave behind to your children. However, a conundrum many people find themselves in is that they want to provide for their children, but one or more of their kids are untrustworthy. A child may suffer from a substance abuse problem, and leaving such a person with a large amount of money with no strings attached could exacerbate the addiction.
When people pass away in Missouri, there is always a period of mourning that the family and friends of the deceased go through. However, there is also another aspect that the family will have to deal with after the death as well and that is distributing the assets owned by the deceased at the time of their death. Obviously people cannot take those belongings with them and the possessions cannot just stay in limbo. So, these assets need to be distributed to those who survive them.
A Missouri resident may spend years of their life looking for the right place to build their home. They may eventually discover it tucked away in the woods, far from the hustle and bustle of metropolitan living. The individual may find the property description of the land to figure out just where their property lines will lay, and in the process they may discover that their desired lot is lacking a location where it touches the local road.
The first mistake you could make is not having an estate plan at all. However, since you are reading this post, you can avoid this biggest issue. Unfortunately, though, there are many more mistakes people make when creating their estate plan.