Call an Attorney Before it is Too Late: A Legal Guide for Aging Adults in Missouri

Gracefully aging in Missouri comes with many blessings such as discounted coffee, grandkids you can spoil and return, and finally having time to read the fine print. But with these joys also come important legal decisions that, if left unattended, can create more headaches than a Missouri summer without air conditioning.

What issues can you avoid by calling an attorney now? That family feud over Aunt Edna’s fine China dishes? That 40 acres you own with three other siblings? Avoidable with a clear estate plan. And yes, a judge has actually had to decide who gets a porcelain rooster and the dog. Do not be that legendary family story that circulates among attorneys, judges, and court staff for years to come.

Whether you are retired, semi-retired, or simply wondering when the early bird specials start, there are a few legal matters you really should not put off. So, before things get complicated, here are the top topics older adults in Missouri should consider discussing with an attorney:

1. Estate Planning: It is not just for the rich and famous. If you own anything; more specifically, a home, car, savings, your collection of state spoons, or your collection of antique Elvis plates, then you need an estate plan. Otherwise, Missouri’s intestacy laws at RSMo § 474.010, for the legally curious, and a local probate judge you likely never met, will decide who gets what. Spoiler alert: it may not be who you expect.

What should you discuss with your attorney? (1)a will: Who gets your stuff and who serves as your Personal Representative; (2) a trust: Want to avoid probate court and make life easier for your heirs? Have your attorney create a trust that expresses your non-probate transfer wishes with the option for contingencies and more control than a will provides; (3) beneficiary designations: Missouri recognizes Transfer on Death (TOD) designations for bank accounts and real estate. These liberal non-probate laws make it easier to pass property without probate and its delays, costs, and conflict; (4) Powers of Attorney: Because you might not always be in the driver’s seat, planning for incapacity is like putting on your seatbelt before the car starts – it does not mean you will crash, but it is decidedly smarter to be ready. Your powers of attorney should include (a) a Durable Power of Attorney for Finances (RSMo § 404.705), and (b) a Durable Power of Attorney for Healthcare (also known as a healthcare directive or healthcare proxy). These expressed wishes let someone you trust manage your affairs if you are unable. Think of it as nominating your team captain in life’s unexpected fourth quarter. Without these documents, your family may be required to go through a guardianship proceeding; an expensive, stressful, and very public event. Save them the trouble. Call an attorney.

2. Long-Term Care & Medicaid Planning. It is not just for “Other People.” No one likes to think about nursing homes, but the truth is that approximately 70% of people over 65 will need some form of long-term care.

What should you discuss with your attorney? (1) How to legally protect assets while qualifying for Medicaid (Missouri uses a five-year look-back period for asset transfers); (2) When and how to transfer property (hint: do not do it on a handshake or over Thanksgiving dinner). What should you avoid? Wiping out your life savings because you did not plan ahead. Also, awkward conversations where someone says, “We just put the house and our bank accounts in our grandson’s name so we should be fine, right?” It is not fine. It is never fine; (3) Guardianship and Conservatorship topics. It is better to choose one than have it chosen for you. If you do not name a power of attorney and you become incapacitated, a judge may have to appoint a guardian for health, safety, and welfare decisions or appoint a conservator for financial decisions under Missouri law (RSMo § 475). Most reasonable people would rather pick their decision-maker than leave it up to Cousin Larry who once lost his own wallet three times in one day.

3. Elder Abuse and Scams: Unfortunately, they are on the rise. As sad as it is, older adults are often targets for financial exploitation. Missouri takes elder abuse very seriously (RSMo § 565.180–565.188), and so should you.

Call an attorney if: (1) someone pressures you to sign documents you do not understand; (2) you are suspicious about a caregiver, relative, or “new friend” managing your money; (3) you receive a call that your grandson is in jail in Mexico and needs bail money wired now (Pro tip: He is not. He is probably just at home, and he definitely does not need you to buy $5,000 in gift cards for his release).

4. Real Estate Matters: More than just “Whose name is on the deed”. Have real property you want to pass to your children? Renting part of your home? Want to downsize or do a reverse mortgage? Missouri has some unique laws around real estate transfers including the beneficiary deed, which allows your home to transfer directly to someone upon your death without probate (RSMo § 461.025). Think of it as the “fast pass” of estate tools.

In Conclusion, growing older does not mean giving up control. It means making sure the right plans are in place while you still can. A good attorney is like a good umbrella: you hope you will not need it every day, but when the storm comes, you will certainly be glad you have it. So, if you have not spoken to a lawyer in a while, or ever, now is the time. Your future self, and your loved ones, will thank you.

Todd Miller is a monthly contributor and regularly writes and speaks on various legal topics including estate planning, probate, and elder law. He formed the Law Office of Todd Miller, LLC, 1305 Southwest Blvd., Suite A, Jefferson City, Missouri in 2006. He was recognized as 2016 Adviser of the Year by GolfInc; and Golf Tax Consultant of the Year by Boardroom Magazine three times; and one of the “10 Best” attorneys by the American Institute of Family Law Attorneys; and one of the “10 Best” attorneys by the American Institute of Criminal Law Attorneys. Mr. Miller earned his juris doctorate degree from the University of Missouri School of Law in 1999 and graduated with honors from Lincoln University in 1991. You may find him at www.toddmillerlaw.com (573) 634-2838 or on Facebook, LinkedIn, and Twitter.