Estate Planning Attorney in Union, MO
In Franklin County, a lot of estate plans involve land or small business. There's a farm that's been in the family for generations, acreage that needs to stay together, or a business someone wants to keep running. Other people come in because nothing is written down, or because a parent is getting older. Schmanke Law Firm prepares wills, trusts, powers of attorney, and succession plans from its office in Union. Because the firm also handles probate, it sees how those documents work when a family actually has to use them.
What an Estate Plan Actually Covers
An estate plan isn't one document. It's a set of decisions. Who handles your affairs? Who gets your property? Who steps in if you can't make decisions for yourself anymore? Some people need a will. Some need a trust. Some need both, plus a couple of documents that only matter if you become incapacitated before you die.
Most people who come in don't have a specific document in mind. They have a specific worry. A parent who's getting older. A farm that's been in your family for three generations. A business they want to keep running after they step back. Or just the fact that nothing's written down and they know it should be.
You don't need to show up already knowing which documents you need. Michael starts by understanding your family, your property, and your farm or business, if that applies, and works out the plan from there.
Schmanke Law Firm is based in Union, Missouri, and works with families, farmers, landowners, and business owners around Franklin County.
Wills
A will says who gets your property when you die and, if you have kids under 18, who raises them. It's the document most people picture when they think “estate plan,” and for a lot of people, it's the right starting point.
Without one, Missouri's intestate succession laws decide who inherits, not you. The state has a set order it follows based on family relationships, and it applies whether or not that's how you'd have wanted things split.
More on how wills work, and when they're enough on their own, is on our Wills page.
Trusts
A trust holds and distributes your property differently than a will does. Property in a trust is managed by whoever you name as trustee, according to terms you set, rather than being handled through the will and probate process. Whether that structure makes sense for you depends on what you own and how you want it handled.
We cover the different types of trusts and how they're used on our Trusts page.
Powers of Attorney and Healthcare Directives
Wills deal with what happens after you die. They don't cover what happens if you're still alive but can't make decisions anymore, after a stroke, an accident, or during a serious illness.
That's what a power of attorney and a healthcare power of attorney or directive handle. A power of attorney lets someone you pick manage your finances and legal matters. A healthcare power of attorney or directive lays out your wishes for medical care and names who makes those calls if you can't speak for yourself.
People tend to skip over this part because they think of estate planning as something for after they're gone. But for a lot of families, this is the piece that ends up mattering most. More detail is on our Powers of Attorney page.
Farm and Land Succession Planning
Farmland brings up different questions than a standard estate plan does. Who keeps running the operation? Does the land get split between kids, or does one take it over while the others get something else to balance it out? What happens to the equipment, the livestock, any leases already in place?
Michael works with local farm families on exactly this. A generic will usually doesn't hold up well for a working farm. It takes structuring the plan around how the operation actually runs and who's set up to keep running it.
If your family's land has been passed down for a generation or two and you're trying to figure out how to keep it from getting sold off or split into pieces, that's worth a real conversation rather than a form.
Business Succession Planning
Business owners run into a version of the same problem. What happens to the business if you retire, get sick, or pass away? Does it go to a family member, a business partner, a longtime employee? Is there an actual plan for how that transfer happens, or is everyone just going to figure it out later?
Business succession planning nails down who takes over and how the transition gets documented so it doesn't turn into a dispute or stall out when it actually needs to happen.
Will vs. Trust
People often want to know which one they need before they've even sat down with an attorney. The honest answer is that it depends on what you own, what your family looks like, and what you're actually trying to accomplish. There's no default answer that fits everyone.
This is the kind of thing that gets sorted out in conversation, not by reading a comparison chart online. You don't need to walk in already knowing the answer.
When to Create or Update a Plan
If you don't have a plan yet, your family situation changed (a marriage, a divorce, a birth, a death), you bought property, land, or a business since your last plan was drafted, someone you named as executor, trustee, or agent isn't the right person anymore, you're getting older and want your healthcare and finances handled the way you actually want them handled, or you own a farm or a business and you're starting to think about who takes it over.
Even if you already have documents in place, any of these is usually a good reason to take another look at them.
Frequently Asked Questions
Do I need a will if I already have a trust?
Usually, yes. A trust only controls what's actually been placed into it, and most people end up with at least a will alongside it to cover anything left out.
What happens to my farm if I don't have a succession plan?
It gets treated like any other asset in your estate. Depending on your situation, that can mean it's divided among heirs the same way a house or a bank account would be, even if only one of them actually wants to keep it running.
Can I update my estate plan later?
Yes. Wills and trusts can both be changed as your family, your property, or your wishes change. Most estate plans need a second look at some point.
Does the firm handle Medicaid planning or elder law?
Medicaid and elder law considerations can be part of the estate planning conversation because every family's circumstances are different. We'll discuss how those issues may affect your plan, and if you need a specific solution that our firm does not provide, we'll help point you in the right direction.
How do I know if farm or business succession applies to me?
If you own land you want to stay in the family, or a business you want to keep going after you step back, it applies. The details depend on your situation, which is something to talk through directly.
Next Step
If you're ready to talk through your situation, whether that's a first estate plan, updating an old one, or a farm or business succession question, reach out to Schmanke Law Firm in Union, Missouri, to set up a time to talk with Michael.