Wills: There Are so Many Different Types!

by | Mar 6, 2024

Wills stand as pivotal documents in estate planning. Your designated Personal Representative (aka “Executor”) assumes four crucial roles:

  • Locating your assets
  • Valuing those assets
  • Paying potential creditors
  • Distributing your assets following your estate plan.

Last Will and Testament

The Last Will and Testament, a standard inclusion in estate plans, is widely recognized. However, have you ever heard of the Pour-Over Will or the Holographic Will?

Pour-Over Wills

Designed for those with a Trust, a Pour-Over Will serves as a crucial complement. Despite having a Trust, a Pour-Over Will acts as a probate instruction sheet, ensuring any overlooked assets find their way into your Trust. This precautionary measure guards against scenarios where an account beneficiary is missed or future property isn’t acquired in the Trust’s name, potentially triggering probate.

Holographic Wills

A Holographic Will holds legal validity if it adheres to state requirements. In Missouri, a Holographic Will must be entirely handwritten by the decedent, who must be over the age of 18, and the decedent’s signature must be witnessed by two people.

For a detailed discussion on the significance of Wills and other Estate Planning documents, call us at 816-399-2757 or book a free initial consultation with one of our attorneys.