What Type Of Will Do You Need?

Thinking about passing away is something that most don’t like to think about or discuss.  Most of us don’t like planning for our death, but you owe it to your loved one's to have a plan in place.  A will allows you to designate what will happen to your possessions and estate in the event of your passing . We know getting your affairs in order may not be something you desire to do, but it is something you need to do.  The Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C. will answer some frequently asked questions about wills. Our experienced estate planning lawyers at the Lake of the Ozarks and our probate administration attorneys can help you along every step of the way. 



Estate Planning vs Probate Administration 
What's The Difference?
Passing money, possessions, property, and other assets from a deceased loved one to surviving family and friends is often a two-step process. First, decisions must be made regarding who will be given what. Second, those assets must actually be passed on to those chosen individuals. "Estate planning" refers to the process of deciding how your affairs will be handled after your passing which includes how your possessions will be allocated.  "Probate administration" includes to the process of distributing those assets through the probate court.

Different Kinds of Wills
Which One Do I Need?
Wills are binding, legal documents that ensure your property and assets are passed on to individuals you choose, after your death. Wills come in  different forms, some of which are more legally effective than others. To ensure that the courts will recognize your will as valid, we highly recommend working with a professional estate planning and probate administration attorney. 
  • Statutory Wills - These "one-size-fits-all" documents are the simplest wills, and they may work for individuals will smaller, simpler estates. Based on a fill-in-the-blank formula, you and your attorney may be able to draw up a statutory will in relatively little time.
  • Contingent Wills - Some wills are be based upon some a contingency. That type of will contains instructions for the allocation of property and assets if certain conditions are met. While these conditions may take various forms, they most commonly involve the age of the intended beneficiaries. 

  • Oral Wills - These wills are spoken in the presence of witnesses, but there is no written documentation accompanying them. Consequently, these types of wills rarely hold up in court.
  • Holographic Wills - This is another type of will that is rarely recognized in a court of law. Holographic wills are written and signed without the presence of witnesses.
  • Living Wills - Rather than addressing the distribution of assets, these wills indicate what type of medical treatment you would like to receive in the event that you are unable to communicate them. For example, a living will includes your opportunity to tell your family whether or not you would like to be left on life support in the event that you are in a vegetative state.

Many people do not like to think about death or the possibility of a serious accident, so they put off establishing an estate plan. This hesitancy is certainly understandable, but causes problems for your loved ones when the time comes that an effective estate plan is needed. 

Don't wait! Let us help you provide for your family and ensure that your wishes will be legally recognized. Contact PMCW Law today at (573) 346-7231.


Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C.
The choice of a lawyer is an important decision and should not be based solely on advertising. When you need a knowledgeable attorney, we invite you to contact us to set up a consultation. Evening and weekend appointments are available. We have access to interpreters.

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Camdenton, MO 65020   GET A MAP
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Location: Camdenton, MO 65020, USA

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