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Updated Will Guide: Essential Information for All Family Structures

Comprehensive guide to updating your will for blended families, same-sex couples, parents, and individuals with significant assets. Learn why an updated will is crucial for protecting your loved ones and assets.

Introduction

An updated will is one of the most important legal documents you can create to protect your family and assets. This legal instrument ensures your wishes are carried out after your passing, providing clear instructions about how your property should be distributed, who will care for minor children, and how your affairs should be managed. Without an updated will, state laws determine what happens to your assets and dependents, which may not align with your intentions. This guide explains the importance of keeping your will current, especially for blended families, same-sex couples, parents with minor children, and individuals with significant assets. Understanding the basics of an updated will can help you make informed decisions to protect your loved ones and provide peace of mind for your family's future.

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Key Things to Know

  1. 1

    Without an updated will, state intestacy laws determine how your assets are distributed, which may not align with your wishes for your family members.

  2. 2

    For blended families, an updated will is essential to ensure all children (biological and step-children) are provided for according to your intentions.

  3. 3

    Same-sex couples benefit from the legal protections an updated will provides, especially in regions where legal recognition may be evolving.

  4. 4

    Naming guardians for minor children is one of the most important functions of a will for parents.

  5. 5

    Your will should be reviewed and potentially updated after every major life event (marriage, divorce, birth of children, significant asset acquisition).

  6. 6

    For those with significant assets, an updated will should work in conjunction with trusts and other estate planning tools to minimize taxes and maximize asset protection.

  7. 7

    Digital assets, pets, and sentimental items should be specifically addressed in your updated will to avoid confusion or conflict.

  8. 8

    Working with an estate planning attorney familiar with your specific family structure is highly recommended to ensure your will accomplishes your goals.

Key decisions before you file

Before you file a Updated Will in Missouri, a few decisions shape the document: which option to choose and what each one means. The Updated Will guide walks through them.

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Missouri Requirements for Updated Will

  • Testamentary Capacity (Missouri Revised Statutes § 474.310)

    Under Missouri law, the testator must be of sound mind and at least 18 years old to execute a valid will. Sound mind means understanding the nature and extent of property, the natural objects of bounty, and the disposition being made.

  • Execution Requirements (Missouri Revised Statutes § 474.320)

    A Missouri will must be in writing and signed by the testator or by someone else in the testator's presence and at their direction. It must also be signed by at least two competent witnesses who witnessed either the signing or the testator's acknowledgment of the signature or of the will.

  • Self-Proving Affidavit (Missouri Revised Statutes § 474.337)

    Missouri allows for a self-proving affidavit to be attached to a will, which eliminates the need for witnesses to appear in court to validate the will after the testator's death. This requires notarization and specific language.

  • Holographic Wills (Missouri Revised Statutes § 474.330)

    Missouri does not recognize holographic wills (handwritten wills that are not properly witnessed) unless they were executed in a state where such wills are valid.

  • Revocation of Wills (Missouri Revised Statutes § 474.400)

    A will can be revoked by a subsequent will, by a physical act of destruction with intent to revoke, or by operation of law (such as divorce affecting provisions for a former spouse). An updated will should explicitly revoke all prior wills and codicils.

  • Spousal Rights (Missouri Revised Statutes § 474.160)

    Missouri is not a community property state but provides spousal elective share rights. A surviving spouse can elect to take against the will and receive a percentage of the estate based on the length of the marriage.

  • Pretermitted Heirs (Missouri Revised Statutes § 474.240)

    Children born or adopted after the execution of a will who are not provided for in the will may be entitled to a share of the estate unless it appears the omission was intentional.

  • Personal Representative Appointment (Missouri Revised Statutes § 473.110)

    The will should name a personal representative (executor) to administer the estate. Missouri law establishes the order of priority for appointment if none is named or the named person cannot serve.

  • Guardian Designation for Minor Children (Missouri Revised Statutes § 475.045)

    A will can nominate guardians for minor children. While courts make the final determination based on the best interests of the child, they give strong consideration to the testator's wishes.

  • No-Contest Clause (Missouri Revised Statutes § 474.395)

    Missouri recognizes no-contest clauses (in terrorem clauses) that can disinherit beneficiaries who challenge the will, though courts may not enforce them if there is probable cause for the contest.

  • Simultaneous Death Provision (Missouri Uniform Simultaneous Death Act, Missouri Revised Statutes § 471.010)

    The will should address the possibility of simultaneous death of the testator and beneficiaries, specifying how property should be distributed in such cases.

  • Tax Apportionment (Missouri Revised Statutes § 461.300)

    The will should specify how estate taxes should be apportioned among beneficiaries, as Missouri follows the federal apportionment scheme unless the will provides otherwise.

  • Digital Assets (Missouri Revised Statutes § 472.400-472.490)

    Missouri has adopted the Revised Uniform Fiduciary Access to Digital Assets Act, allowing testators to give executors authority to access and manage digital assets.

  • Federal Estate Tax Exemption (Internal Revenue Code § 2010)

    The will should consider federal estate tax implications, including the current exemption amount and potential tax planning strategies for estates exceeding the exemption threshold.

  • Generation-Skipping Transfer Tax (Internal Revenue Code § 2601-2663)

    For estates planning distributions to grandchildren or more remote descendants, the will should address generation-skipping transfer tax considerations and exemption allocation.

  • Special Needs Trust Provisions (42 U.S.C. § 1396p(d)(4)(A))

    If beneficiaries receive government benefits, the will should include special needs trust provisions to prevent disqualification from those benefits while still providing for the beneficiary.

  • HIPAA Authorization (45 CFR § 164.508)

    The will or accompanying documents should include HIPAA authorization language allowing the personal representative to access medical records necessary for estate administration.

  • Tangible Personal Property Memorandum (Missouri Revised Statutes § 474.333)

    Missouri allows for a separate memorandum to be referenced in the will that can distribute tangible personal property items. This document can be updated without formally amending the will.

  • Rule Against Perpetuities (Missouri Revised Statutes § 442.555)

    Missouri has modified the common law Rule Against Perpetuities, allowing interests to vest within 21 years after the death of lives in being plus a period of gestation. The will must comply with these timeframe restrictions for future interests.

  • Ademption Provisions (Missouri Revised Statutes § 474.450)

    The will should address what happens if specifically bequeathed property is no longer owned by the testator at death, as Missouri follows the identity theory of ademption unless exceptions apply.

Frequently Asked Questions