Missouri Estate Planning — Start Here

A Beginner’s Guide to Comprehensive Estate Planning in Missouri

Estate Planning Basics · Missouri Law · Wills · Trusts · Powers of Attorney · Getting Started

If you’ve never done estate planning before, the biggest obstacle isn’t the paperwork — it’s the vocabulary. Terms like “probate,” “revocable trust,” “fiduciary,” and “letters testamentary” appear everywhere and are almost never explained. This guide starts at the beginning: what estate planning actually means, why it matters to ordinary Missouri families at every income level, what each document does in plain English, and exactly what to do in your first 90 days. No jargon assumed. Everything explained.

What Estate Planning Actually Means

Estate planning is the process of deciding — in advance and in legally enforceable documents — what happens to your assets, your family, and your healthcare decisions when you are no longer able to make those decisions yourself. “When you are no longer able” covers two scenarios, not one: death (which everyone thinks about) and incapacity (which almost no one plans for adequately).

Your “estate” is not a mansion. It is everything you own: your house, your car, your bank accounts, your retirement savings, your personal property, your digital accounts, your business interest if you have one. Every adult with any of these things — at any income level — has an estate, and every adult benefits from having a plan for it. The question is not whether your estate is large enough to need planning. The question is whether you want a court making decisions about your assets and your family, or whether you want to make those decisions yourself, in advance, in legally binding documents.

💡 The One-Sentence Answer to “What Is Estate Planning?”

Estate planning is the process of putting your decisions about your money, your family, and your medical care into legally enforceable documents — so that a court doesn’t have to make those decisions for you when something goes wrong.

10 Estate Planning Terms Every Beginner Must Know

Before any of the practical guidance makes sense, these ten terms need to be clear. They appear in almost every conversation about estate planning, and confusion about any one of them leads to expensive misunderstandings.

Estate

Everything you own at the moment of your death — real estate, bank accounts, investments, retirement accounts, personal property, business interests, life insurance (if you retain certain rights over the policy), and digital assets. Your estate is the total picture of what exists to be transferred.

Probate

The court-supervised process of distributing a deceased person’s estate. A will does not avoid probate — it is the document submitted to start the probate process. Probate in Missouri creates a public court record, takes 9–14 months for most estates, and costs approximately $14,000 in statutory attorney and executor fees on a $500,000 estate (§ 473.153, RSMo). Most estate planning strategies are designed to avoid it.

Revocable Trust

A legal entity you create during your lifetime to hold your assets. You control it completely, can change it at any time, and can revoke it entirely. Assets inside a properly funded revocable trust pass to your beneficiaries outside probate — privately, quickly, and without court involvement. It is the most effective probate avoidance tool for Missouri families.

Trustee

The person responsible for managing a trust. During your lifetime, you typically serve as your own trustee. Your successor trustee — the person you name to take over — steps in if you become incapacitated or when you die. The trustee has a legal duty (called a fiduciary duty) to act in the best interests of the trust’s beneficiaries.

Beneficiary

A person or entity who receives assets from your estate or trust. You name beneficiaries in your will (who receives specific assets through the estate), in your trust (who receives trust assets at distribution), and on individual accounts (retirement accounts and life insurance have their own beneficiary designation forms that operate independently of your will and trust).

Executor

The person named in your will who is responsible for administering your estate through the probate process: gathering assets, paying debts, filing final tax returns, and distributing property to beneficiaries under court supervision. Also called a “personal representative” in some states. Note: an executor manages a probate estate; a trustee manages a trust.

Power of Attorney

A legal document that authorizes another person (your “agent” or “attorney-in-fact”) to act on your behalf for financial matters. A durable power of attorney remains effective if you become incapacitated — which is the whole point of having one. A power of attorney that is not durable terminates at incapacity and is largely useless for estate planning purposes.

Incapacity

The inability to make or communicate your own decisions, typically due to illness, injury, or cognitive decline. Incapacity is not the same as death, and it requires a separate set of legal protections. Without an incapacity plan (trust + durable POA + healthcare directive), a court must appoint a guardian and/or conservator to manage your affairs — a proceeding called a guardianship or conservatorship.

Pour-Over Will

A will used alongside a revocable trust that “pours” any assets not already in the trust into it at death. It acts as a safety net — catching any assets that were accidentally left outside the trust — and routes them through the trust’s distribution terms. It also performs the functions only a will can do: nominating a guardian for minor children and naming an executor.

Fiduciary

A person who is legally required to act in the best interests of another party. In estate planning, trustees, executors, and agents under a power of attorney are all fiduciaries. A fiduciary cannot use the position to benefit themselves at the expense of the beneficiaries they serve. Choosing a trustworthy, capable fiduciary is one of the most important decisions in any estate plan.

3 Questions That Determine What Kind of Plan You Need

Not everyone needs the same estate plan. Your starting point depends on three questions — and the answers determine which documents are most urgent, what level of complexity is appropriate, and whether a revocable trust is necessary or a will is sufficient. Answer these honestly before reading further.

Do you own any real estate in Missouri, or do you have more than $40,000 in assets not titled to a surviving spouse?

✓ Yes

You are above Missouri’s small estate threshold (§ 473.097, RSMo). Assets in your individual name — not in a trust, not jointly titled with right of survivorship, not with a beneficiary designation — will go through formal probate. A revocable trust is strongly recommended to avoid this. If you own real estate alone, probate is almost certain without one — regardless of the property’s value.

◆ No or Borderline

You may qualify for Missouri’s small estate affidavit process (§ 473.097) if the total value of probate assets is under $40,000 and no real estate is involved. A well-drafted will may be sufficient for your current situation — but review this as assets grow. Even modest estates benefit from powers of attorney and healthcare directives for incapacity planning.

Do you have minor children, or are you responsible for someone with a disability?

✓ Yes

This is the most urgent planning situation in the entire guide. You need a will with a guardian nomination immediately — courts decide guardianship when parents die without naming one. You also need a trust with age-gated distribution provisions to prevent minor children from receiving a lump sum at age 18. For a beneficiary with disabilities: a Special Needs Trust is essential to preserve their Medicaid and SSI eligibility.

◆ No

Your distribution planning is simpler — you’re naming adult beneficiaries without the same urgency around guardian nomination. Still prioritize incapacity documents (POA and healthcare directive) because these protect you regardless of family composition. Consider whether any future beneficiary scenarios (nieces/nephews, aging parents) warrant specific planning provisions.

If you became unable to make decisions tomorrow — due to a stroke, accident, or illness — who would legally be authorized to manage your finances and make your medical decisions?

✓ Someone is named in current documents

Good — but verify your documents are current, durable (not expiring at incapacity), and accessible. Many people have documents that were executed years ago that may no longer reflect their wishes or current relationships. Review your power of attorney and healthcare directive if either is more than 5 years old, names someone who has died, or was created before any significant relationship or health change.

✗ No one is legally authorized

This is an incapacity gap — and it exists in most adults’ situations. Without a durable power of attorney, your bank will not allow a family member to access your accounts. Without a healthcare directive and healthcare power of attorney, your family may need a court-ordered guardianship to make medical decisions. This proceeding takes weeks to months and costs thousands of dollars — for a situation that a two-page document prevents entirely.

The Core Estate Planning Documents, Explained in Plain English

Here is what each document in a complete estate plan actually does — stripped of the legal language and explained as plainly as possible.

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The Revocable Living Trust

Core probate avoidance + incapacity management + distribution control vehicle

What it is: A legal entity you create and control during your lifetime. You put your assets into it (your house, bank accounts, investments). You manage them just as you always have — same accounts, same decisions. When you die or become incapacitated, the person you named as successor trustee takes over and follows your written instructions.

What it does that a will cannot:

Avoids probate entirely for all assets properly funded into it
Keeps your financial affairs completely private — no public court filing
Takes effect immediately upon your incapacity — no court proceeding required
Controls distributions with conditions (age gates, spendthrift protections, special needs provisions)
Eliminates ancillary probate for real estate you own in other states

What it requires: Two steps — (1) execute the document with proper formalities, and (2) fund it by transferring your assets into it. Step 2 is where most trust plans fail. A trust that holds no assets is legally meaningless.

Plain English: A trust is a box you create to hold your stuff. While you’re alive, you control the box. When you die or can’t manage it yourself, someone you trust takes over — without going to court. Your family settles everything in weeks instead of months, in private instead of in public, and at a fraction of the cost of probate.

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The Will (Pour-Over Will in a Trust Plan)

Guardian nomination + safety net + executor appointment

What it is: A legal document that directs what happens to your assets after death and names the people responsible for carrying out those instructions. In a complete trust-based plan, the will is a “pour-over will” — it directs any assets not already in the trust to be transferred into the trust through the probate process.

What only a will can do (that a trust cannot):

Nominate a guardian for minor children — this is the will’s most important function for parents
Name an executor to handle any probate assets and administration tasks
Provide specific instructions for personal property and sentimental items (via personal property memorandum)
Express funeral and disposition preferences

What a will cannot do: Avoid probate. A will is submitted to a court to start the probate process — it is not an instrument that bypasses the court. Many families confuse having a will with having avoided probate. They have not.

Plain English: A will tells the court what to do with your stuff and who should raise your kids. In a trust plan, it’s mostly a backup document — but it’s essential because it’s the only place in your entire estate plan where you can formally name a guardian for your children.

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Durable Power of Attorney for Finances

Financial authority during incapacity — prevents conservatorship

What it is: A document that authorizes someone you choose (your “agent”) to manage your financial affairs — pay your bills, manage investments, file taxes, operate a business, handle government benefits — if you become incapacitated. The word “durable” means it remains in effect even if you lose capacity; a non-durable power of attorney terminates at incapacity and is nearly useless for planning purposes.

Why it matters even if you have a trust: Your trust only controls what’s inside it. Non-trust assets — accounts not yet retitled, vehicles, a business bank account you hadn’t transferred yet — still need an authorized manager. The durable POA covers the gaps between what’s in the trust and everything else.

Important choices: You can make a POA effective immediately (useful for convenience and emergencies) or “springing” (takes effect only upon a physician’s certification of incapacity). Immediate POAs are generally more practical; springing POAs require obtaining physician certification at a potentially difficult moment.

Plain English: If you end up in the hospital and can’t manage your own money, this document lets the person you trust handle your finances legally — without going to court. Without it, your spouse or adult child may not be able to access your bank accounts, even in an emergency.

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Healthcare Power of Attorney & Living Will Declaration

Medical decision authority + end-of-life wishes — prevents guardianship

What it is: Two related but distinct documents. The healthcare power of attorney names a person (your healthcare agent) to make medical decisions on your behalf if you cannot make them yourself — which doctors to see, which treatments to accept or refuse, whether to consent to surgery. The living will declaration records your own wishes about end-of-life care — whether you want artificial life support extended under specified circumstances, your preferences for comfort care, and other choices you want documented in advance. Both are governed by Missouri § 404.800 et seq., RSMo.

HIPAA authorization (allows your healthcare agent to access your medical records)
Organ donation preferences
Specific treatment wishes (dialysis, ventilator, feeding tube)
Comfort care and hospice preferences

Plain English: These two documents answer: (1) Who speaks for me if I can’t speak for myself? and (2) What do I want them to say? Without them, your family members may disagree about your care — and without legal authority, those disagreements can end up in court.

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Beneficiary Designations & Asset Titling

The coordination layer — makes everything else work as intended

What it is: The process of aligning how each asset is owned and who is named to receive it — so that assets actually flow where the plan intends. This is not a single document; it is an ongoing maintenance practice involving multiple accounts and institutions.

How each asset type must be handled:

Real estate: Must be deeded to the trust (recorded with the county recorder) to pass outside probate
Bank and brokerage accounts: Must be retitled to the trust name, or have payable-on-death/transfer-on-death designations added
IRA, 401(k), other retirement accounts: Must NOT be retitled into the trust (triggers immediate income taxation of the entire balance). Update the beneficiary designation form instead
Life insurance: Keep individual ownership; review and update beneficiary designation
Business interests: Assign LLC membership or corporate shares to the trust (with attention to operating agreement transfer restrictions)

Why this is the most commonly neglected step: Beneficiary designations on retirement accounts and life insurance override everything — the will, the trust, and any court order. A 2008 beneficiary designation naming an ex-spouse routes that account to them, regardless of what the rest of the estate plan says.

Plain English: Your estate plan is only as good as the alignment between your documents and your actual accounts. Signing documents without updating how things are titled and who is named on your accounts is like building a house but not connecting it to the water supply.

What Missouri Beginners Often Don’t Know to Ask

Missouri has specific laws, thresholds, and characteristics that affect estate planning in ways that generic guides never mention. Here is what every Missouri resident needs to know.

Missouri is NOT a Community Property State

Missouri is a common law (separate property) state. Assets acquired during marriage belong to the spouse who earned or purchased them — not automatically to both spouses equally. Each spouse’s individually-owned assets go through their individual estate plan at death. This means married couples in Missouri need coordinated estate plans for each spouse, not just one plan assuming joint ownership.

Why it matters: Unlike in community property states (California, Texas, Arizona, etc.), your spouse does not automatically co-own your bank account or investment portfolio just because you’re married. Retitling, beneficiary designations, and trust coordination matter more in common law states.

Missouri’s Small Estate Threshold: $40,000

Under § 473.097, RSMo, estates with less than $40,000 in probate assets (no real estate) may qualify for a simplified small estate affidavit — allowing distribution without full probate. A simplified procedure is available for estates between $40,000 and $60,000. Above $60,000 in probate assets or any real estate: full formal probate is required.

Why it matters: The threshold is low. Any Missouri homeowner — regardless of home value — automatically exceeds it. Even a modest primary residence means full probate applies to any individually-titled assets, no matter how small the rest of the estate is.

Missouri Has No State Estate or Inheritance Tax

Missouri eliminated its state estate tax when the federal state death tax credit was phased out in 2001–2005. Missouri beneficiaries do not pay Missouri income tax on inherited assets (though inherited retirement accounts still trigger federal income tax on distributions). Missouri has no inheritance tax.

Why it matters: For most Missouri families, estate planning is not about tax avoidance — it is about probate avoidance, incapacity planning, and distribution control. Federal estate tax is only relevant for estates approaching the federal exemption ($15M individual / $30M married as of 2025+).

Missouri Probate Fees Are Statutory

Missouri attorney and executor fees in a probate proceeding are set by statute at § 473.153, RSMo — they are not negotiated. On a $400,000 estate: ~$11,750 in attorney fees + executor fees. On a $700,000 estate: ~$16,250 in attorney fees + similar executor fees. These fees apply to the gross estate value — not the equity.

Why it matters: A $600,000 home with a $400,000 mortgage triggers probate fees calculated on the $600,000 value, not the $200,000 equity. And these fees are in addition to court costs, appraisal fees, and other administrative expenses.

Missouri’s Electronic Wills Act (Effective Aug. 28, 2025)

Missouri enacted the Electronic Wills and Trusts Signing Act, effective August 28, 2025. Missouri residents may now execute wills and trusts electronically using remote online notarization (RON). Electronic wills require: electronic signature, at least two witnesses present (in person or remotely), and notarization. Missing any requirement invalidates the will.

Caution: An electronic will that cannot be located after death is legally presumed to have been revoked — a significant risk for documents stored only in electronic form. Paper originals remain the safest practice for most families.

Missouri’s Beneficiary Deed Option

Missouri allows a “beneficiary deed” (sometimes called a transfer-on-death deed) for real estate — a deed that names a beneficiary who receives the property automatically at death, outside probate, without transferring ownership during the owner’s lifetime. Governed by § 461.025, RSMo.

Limitation: A beneficiary deed avoids probate for that specific property but does not provide incapacity protection, does not allow distribution controls, and creates a less flexible structure than a trust. For most families with a complete estate plan, deeding real estate to the trust is preferable — but a beneficiary deed is a useful, low-cost option for specific situations.

DIY Estate Planning: When It Works and When It Fails

Online legal services (LegalZoom, Trust & Will, Willing, and others) have made basic estate planning documents more accessible and more affordable. For some situations, they provide genuine value. For others, they create a dangerous illusion of protection. Here is an honest assessment.

Your Situation	DIY Likely Adequate?	Why DIY May Fail Here
Young single adult, no dependents, limited assets, no real estate	Possibly — for basic documents. A simple will, durable POA, and healthcare directive from a reputable service may be legally valid and sufficient for the immediate situation.	Verify execution formalities: Missouri requires a will to be signed by the testator in the presence of two witnesses who sign in each other’s presence (§ 474.320, RSMo). Many online documents are invalidated by execution errors.
Married couple, no children, owns a home together	Limited. A basic will may handle the immediate wishes, but a trust is strongly recommended to avoid probate on the home.	Joint tenancy with right of survivorship avoids probate for the first death — but the surviving spouse owns the home individually afterward, and it goes through probate at their death without a trust. DIY services rarely address the second-death scenario adequately.
Parents with minor children	No — the stakes are too high. Guardian nomination, trustee-guardian separation, age-gated trust distributions, and proper funding require professional guidance to execute correctly.	A defective guardian nomination may be disregarded. Generic age-18 distributions leave children with lump sums. DIY trust templates rarely include adequate distribution structure for children’s funds.
Business owner with any business interest	No. Business succession planning, operating agreement review for transfer restrictions, and proper assignment of business interests to a trust require professional analysis that no template can provide.	Improperly transferred business interests can trigger default provisions in operating agreements, inadvertently terminate S-corp elections (IRC § 1361), or create co-ownership disputes with business partners.
Blended family or second marriage	No. The competing interests of children from prior relationships, a current spouse, and stepchildren require deliberately structured provisions. Generic templates apply one-size solutions that frequently produce unintended outcomes.	Without explicit trust provisions addressing the blended family structure, Missouri intestacy law may produce a distribution outcome that neither the decedent nor the surviving spouse would have chosen.
Any beneficiary with disabilities receiving Medicaid or SSI	Absolutely not. A direct inheritance — even a small one — can disqualify a Medicaid or SSI beneficiary from benefits. Only a properly drafted Special Needs Trust preserves eligibility.	DIY will or trust that names a disabled beneficiary directly, without an SNT structure, may eliminate their government benefit eligibility permanently. This is one of the most consequential estate planning errors possible.

Your First 90 Days: A Beginner’s Action Plan

The biggest obstacle to getting started is not knowing what to do first. Here is a concrete, sequenced action plan for completing a basic estate plan — or identifying whether you need professional guidance for a more complex situation.

Days 1–30 Gather, Assess, and Decide

List all assets: Real estate (and how it’s titled), bank accounts, investment accounts, retirement accounts (IRA, 401k), life insurance policies, business interests, and any valuable personal property. Note the approximate value and current owner/title for each.
Review existing beneficiary designations: Check who is named on every retirement account and life insurance policy. Are they current? Is any named beneficiary deceased? Is there a contingent beneficiary named for each?
Review existing documents: Do you have a will? A trust? A power of attorney? A healthcare directive? When were they last updated? Are the people named in them still the right choices?
Answer the three questions: Do you own real estate? Do you have minor children or a disabled dependent? Is anyone legally authorized to manage your finances and healthcare decisions right now? Your answers determine your starting point.
Decide: professional or DIY? Use the DIY risk assessment above. If you have minor children, real estate, a business interest, a blended family, or any beneficiary with disabilities — schedule a consultation with an estate planning attorney before proceeding.

Days 31–60 Create and Execute the Documents

Execute your core documents: Revocable living trust (if real estate or complex estate), pour-over will, durable power of attorney, healthcare power of attorney, and living will declaration. All must be signed with Missouri’s required formalities (notarization; witnesses for the will).
Deed your real estate to the trust: If you have a revocable trust, have your attorney prepare a new deed transferring your home and any other real estate to the trust. Record the deed with the county recorder. This is the single most important funding step for most Missouri families.
Retitle financial accounts: Visit your bank and brokerage and request retitling of non-retirement accounts to your trust. Most institutions have a standard process for this. Bring your Certificate of Trust (a short summary document your attorney provides) rather than the full trust document.
Update IRA and 401(k) beneficiary designations: Contact each retirement account custodian and update the beneficiary designation form. Name primary and contingent beneficiaries. Do not retitle retirement accounts to the trust — update the beneficiary designation only.
Update life insurance beneficiary designations: Contact your life insurance company and review/update beneficiary designations to reflect your current plan and wishes.

Days 61–90 Coordinate, Communicate, and Maintain

Complete remaining asset transfers: Business interests (assignment + operating agreement update), personal property of significant value (general assignment of personal property to trust), vehicles (consider transfer-on-death title designation at the Missouri DMV).
Give your successor trustee a copy of the trust (or confirm they know where to find it) and a brief letter of instruction explaining where the original documents are stored, where key accounts are held, and what their initial responsibilities would be.
Store originals securely: Original signed documents should be stored in a fireproof location (home safe, bank safe deposit box, attorney’s office). Your successor trustee and healthcare agent should know how to access them. Digital copies can be kept as backups but originals are what institutions require.
Set a calendar reminder for review: Estate plans should be reviewed every 3–5 years and after: marriage, divorce, birth of a child or grandchild, death of any named trustee or beneficiary, major asset acquisition or sale, any significant health change. Put a recurring reminder in your calendar now.
Brief your family: Your family doesn’t need to know the details of your estate plan — but your executor and successor trustee should know their roles, where the documents are, and that they’re named. A simple conversation now prevents confusion later.

Frequently Asked Questions for Estate Planning Beginners

I’m young and healthy. Do I really need estate planning now?

Yes — and the reason is incapacity, not death. The documents that matter most for young, healthy adults are a durable power of attorney and a healthcare directive. Without them, your family has no legal authority to manage your finances or make medical decisions if you are in a serious accident or develop an unexpected illness — regardless of how healthy you are today. These documents are inexpensive, take minimal time to execute, and solve a problem that affects people at any age. For parents, the guardian nomination in the will is equally urgent: the question is not whether something might happen to you, but what happens to your children if it does.

What’s the difference between a will and a trust — and which do I need?

A will and a trust are not competing options — they solve different problems, and most Missouri homeowners need both. A will names who gets your assets (through probate court) and nominates a guardian for your children. A revocable living trust holds your assets outside probate, manages them during incapacity, and controls distributions with the flexibility a will cannot provide. The key distinction: a will goes through court (public, slow, expensive); a trust administration is private, fast, and avoids court entirely. For most Missouri families who own a home, a trust-based plan with a pour-over will is the right foundation.

How much does estate planning cost in Missouri?

A complete revocable trust estate plan in Missouri typically ranges from $2,500 to $6,000+, depending on the complexity of the family situation and assets involved. Basic will-only plans cost less but provide fewer protections. The comparison that matters: Missouri statutory probate attorney fees on a $500,000 estate are approximately $14,000 under § 473.153 — and probate takes 9–14 months. For most Missouri homeowners, a trust-based estate plan pays for itself the first time it avoids a probate proceeding. Online services range from $100–$500 but, as outlined above, are appropriate only for limited, simple situations.

Can I name my spouse as my agent for everything — POA, healthcare agent, successor trustee?

Yes — and for most married couples, naming a spouse first is entirely appropriate. Your spouse knows your wishes, your finances, and your values better than almost anyone. The critical planning step is naming an alternate: who serves if your spouse predeceases you, becomes incapacitated at the same time (car accident), or is otherwise unavailable? For the trust successor trustee, name at least one alternate (and ideally a second alternate). For the durable POA and healthcare directive, name one alternate agent. Don’t let the perfect successor trustee be the only one named — if they cannot serve, the trust may require a court proceeding to appoint a replacement.

My parents didn’t do estate planning. Can I still help them get a plan in place?

Yes — and this conversation is worth having as early as possible, while both parents are healthy and fully competent. An estate plan requires the person to have legal capacity — the ability to understand what they own, who their natural heirs are, and what the documents mean. A diagnosis of dementia or cognitive decline can complicate or prevent the execution of valid documents. If your parents own a home, have any significant assets, or have a surviving spouse, the absence of a plan creates real costs for the family. The ideal time to help a parent get a plan in place is now, not after a health crisis makes it difficult or impossible.

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This article is provided for informational purposes only and does not constitute legal advice. Missouri wills: § 474.320, RSMo (execution requirements). Missouri probate: § 473.153 (statutory fee schedule), § 473.097 (small estate affidavit, $40K/$60K thresholds), RSMo. Missouri healthcare directives: § 404.800 et seq., RSMo. Missouri beneficiary deed: § 461.025, RSMo. Missouri Electronic Wills and Trusts Signing Act: effective August 28, 2025. Missouri UTC: Chapter 456, RSMo. Missouri: no state estate tax or inheritance tax. Federal estate tax exemption: $15,000,000 per individual / $30,000,000 per married couple (2025+). IRC § 1361 (S-corp shareholder requirements). Cost estimates are typical ranges and may vary. Consult a licensed Missouri estate planning attorney for guidance specific to your circumstances. The choice of a lawyer is an important decision and should not be solely based upon advertising.