When it comes to writing an estate plan, you need to decide who your beneficiaries will be. For most people, this will be children, but you may also decide to leave money and items to nieces, nephews, cousins and close friends.
Throughout people's lives in Missouri, there are many things they need to take care of for themselves. This includes daily tasks such as eating, going to work, paying bills, taking care of their children and other daily activities. People also from time to time have to attend to more important issues such as buying houses, opening investment accounts and other larger economic matters. Then once they do make those types of purchases and decisions they must ensure that they pay for the costs and manage them.
When people pass away in Missouri, they cannot take anything with them. Their property and assets will remain here and will need to be distributed. Therefore, there are laws in place that dictate where the property will go. The laws state that the property will go to various family members depending on their relationship to the deceased. However, people do not always have a good relationship with their family members or they believe certain family members need the property more than another.
The prospect of creating your estate plan may be intimidating and even uncomfortable, but it is not as complex or morbid as you may assume. In fact, you will feel a sense of accomplishment and pride when you finish it. Still, it is normal and understandable to feel a little bit of apprehension.