Having the right estate plan in place can make all the difference for Missouri families. It can give you peace of mind and help you know your beneficiaries are protected. If you’ve never done an estate plan before, 2026 is the time to get started. If it’s been a while since you’ve updated your plan, or you’ve had some major life changes, it’s time to review your plan to make sure it still works the way you want it to.
The estate planning attorneys at Mark Harford Law help you check off everything on the list for your long-term planning. We put our experience to work for you.
Step 1: Create or Update Your Last Will and Testament
A will is an important first step in your estate plan. In Missouri, a valid will must be:
- Written
- Signed by the testator
- Witnessed by two competent individuals
Your will should clearly outline:
- How your property will be distributed
- Who will serve as your personal representative (executor)
- Guardianship nominations for minor children
- Instructions for personal items or family heirlooms
Step 2: Consider a Revocable Living Trust
A lot of Missouri families add a revocable living trust. This can help to avoid probate and the costs associated with it. Its also used to streamline how your assets transfer and maintain privacy.
A trust allows you to:
- Manage your assets during your lifetime
- Appoint a successor trustee if needed
- Distribute property without court involvement
- Provide long-term management for minor children or beneficiaries with special needs
Step 3: Update Beneficiary Designations
A lot of your most valuable assets can pass outside of probate, including:
- Life insurance policies
- Retirement accounts (401(k), IRA)
- Payable-on-death (POD) bank accounts
- Transfer-on-death (TOD) brokerage accounts
- Missouri transfer-on-death deeds for real estate
Know where this money is going if you pass and keep it regularly updated.
Step 4: Get Powers of Attorney
A comprehensive estate plan will also include powers of attorney for most families:
Durable Power of Attorney for Finances
This document gives authority to someone you trust over your finances. It is designed to take over if you become incapacitated. Otherwise, your family could have to go to court and ask for a conservatorship.
Durable Power of Attorney for Health Care
This document gives someone the right to make medical decisions for you when you can’t do it yourself. This helps protect you in emergencies and gives your family peace of mind.
Step 5: Create an Advance Health Care Directive
Missouri recognizes advance directives that outline your preferences for end-of-life care. This document may include:
- Life-sustaining treatment preferences
- Pain management instructions
- Organ donation wishes
An advance directive works alongside your health care power of attorney to guide your medical team and loved ones.
Step 6: Inventory Your Assets
Knowing what you own and listing it can make a big difference when you pass. Include:
- Real estate
- Bank accounts
- Investments
- Retirement accounts
- Vehicles
- Business interests
- Digital assets (online accounts, subscriptions, cryptocurrency)
Step 7: Address Minor Children’s Needs
Parents should include:
- Guardian nominations
- Instructions for education and care
- Trust provisions for managing assets until children reach adulthood
Step 8: Review Insurance Coverage
Estate planning and insurance work together to cover you more completely. Missouri families should evaluate:
- Life insurance needs
- Long-term care coverage
- Disability insurance
- Umbrella liability policies
These tools help protect your family’s financial stability during unexpected events.
Step 9: Schedule Regular Reviews
Estate plans should be reviewed:
- Every three to five years
- After major life changes
- When laws or financial circumstances shift
Get Your Estate Plan Ready for 2026 and Beyond
Use our estate planning checklist to get an idea of what you should consider. To get started, speak with one of our highly qualified lawyers who ensure you get a customized and effective plan for your individual circumstances.
Let the dedicated estate planning attorneys at Mark Harford Law help you. Contact us today for a consultation.