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In Chesterfield, like in most parts of the United States, a Will, also known as Last Will & Testament, is a legal document that outlines how your assets should be distributed after your death. Issues such as guardianship of minor children and provision for pets can also be addressed in the will. You, as the person creating the will, are recognized as the 'testator', while those receiving benefits from the will are known as 'beneficiaries'. Chesterfield law also recognizes Living Wills, which express your medical care wishes in case you become unable to communicate them yourself.
Although it's possible to draft a will yourself, hiring a lawyer familiar with Chesterfield's laws offers multiple benefits. A lawyer's help is indispensable if the estate is large, if you plan to disinherit a spouse or child, or if there's a complicated situation involving divorce, adoption, or guardianship. Having a lawyer makes it less likely that your will be contested on grounds of not adhering to local law, vulgar language or even a simple misunderstanding.
According to Chesterfield law, for a will to be valid, it must be written by an individual who is 18 years or older and of sound mind. The will must be signed by the testator or by another person at the testator's direction and in their conscious presence. The signing must be witnessed by at least two individuals who are not beneficiaries in the will. The witnesses have to sign in the presence of the testator and of each other.
When one dies without a will (known as dying intestate), the State of Missouri laws dictate how your property is distributed. Typically, the assets go first to the surviving spouse and children if any. If there are no immediate relatives, the assets can go to distant relatives. When no relatives can be located, the assets end up with the state.
Yes, a will can be changed at any time during your lifespan. However, the changes have to be made either through an amendment known as a codicil, or by creating a whole new will. The changes also need to adhere to the same legal requirements as the original will.
Probate is the legal process that is initiated after someone has passed away, to ensure their will is legally valid, their assets are distributed correctly, and their debts are paid. It might involve court hearings and can take anywhere from a few months to over a year.
The executor is the person named in the will who is responsible for making sure the terms of the will are carried out after the death of the testator. This involves collecting and managing assets, paying any debts or taxes, and distributing the remaining assets to the beneficiaries.
Not all assets have to go through probate. Assets jointly owned with right of survivorship, assets designated to a beneficiary (such as life insurance or pension), and assets in a living trust usually bypass the probate process.
For additional information on wills and estate planning in Chesterfield, visit the "Missouri Bar Association" website or the "Chesterfield County Circuit Court" Clerk's Office website. They offer resources such as the Probate Division, which provides information on probate processes, and the Missouri Legal Services, offering legal advice and information on wills.
If you’re considering drafting a will or need legal advice concerning an existing one, it’s best to consult with an experienced attorney who specializes in wills and estate planning in Chesterfield. Prepare a list of questions and concerns before your consultation, and bring all necessary documents, such as deeds to property, existing wills or trusts, etc.
