Caring.com released their 2024 survey on the percentage of Americans who currently have a will and learned that 64% of Americans say having a will is important, but fewer than 32% have one. Even more concerning, 40% of those without a will claimed it’s because they do not believe they have the financial assets to have one.
While financial assets may play a part in one’s will and estate planning, they should not be the sole focus of creating one. Rather, it should not stop someone from having this important document drafted and executed long before they may need it. In Missouri, the law states:
474.310. Who may make will. — Any person of sound mind, eighteen years of age or older or any minor emancipated by adjudication, marriage or entry into active military duty into the military may by last will devise his or her real or personal property and may also devise the whole or any part of his or her body to any college, university, licensed hospital or to the state anatomical board for use in the manner expressly provided by his or her will or otherwise.
474.320. Will form, execution, attestation. — Every will shall be in writing, signed by the testator, or by some person, by his direction, in his presence; and shall be attested by two or more competent witnesses subscribing their names to the will in the presence of the testator.
A will is personal. It gives you the power to control where your assets, property, and beneficiaries end up and can avoid higher costs and lengthy probate that might come without a will.
Cosgrove Simpson can assist in your will and estate planning needs. Call us at 314-563-2490.