The False Beliefs That Leave People Unprepared
I’ve heard it at kitchen tables and across plastic waiting room chairs—young adults in Missouri telling themselves estate planning only matters for the rich, the old, or those settled with families. They say, “I don’t own anything, so why plan?” That idea is common. It delays people from handling paperwork and conversations that matter most when life turns. It’s an excuse, but it’s also a misunderstanding. The guts of estate planning—naming who decides for you, protecting your basic property, giving guidance—protect anyone, at any age. Failing to set something up early can leave those closest to you scrambling if there’s a wreck or a bad night in the ER.
Put simply, most people don’t know what estate planning really covers. It’s not just about handing out money. It’s about clear instructions for the storm no one sees coming. Missouri has its own rules. Even if your net worth looks like a sad number, planning now means less mess if things go wrong. It covers what happens in probate, who speaks for you, and what happens to things—digital or real—that matter more than you think.
Busting the Myths That Hold Young Adults Back
Myth #1: “I Don’t Have Enough for a Will or Trust”
Some say, “I rent. I owe more than I have. No reason for a will.” That misses the point. Most young adults, even broke ones, still have something—maybe a checking account, keepsakes, a used car, or just passwords for photos and social media. If you die, Missouri law (not you) decides where it all goes. Intestacy is a cold process. Your wishes or gut instincts get left out.
A basic will—just a few pages—lets you appoint someone you trust to wrap up your affairs. Maybe a parent. Maybe a friend. It keeps loved ones from slogging through a long, expensive probate court mess. Without it, someone else decides, and property can land in the wrong hands. People also forget things like beneficiary designations. Retirements, insurance policies, bank accounts—these need names. If you do nothing, they default in ways you probably wouldn’t pick.
Myth #2: “Only for Parents, Married Couples, or People with Dependents”
No spouse or kids? Doesn’t get you off the hook. Die without a will, and Missouri’s chart sends your property up a family tree: parents, then siblings, then out to the fringes. Friends, partners, or charities you cared about? Left out. You also lose the chance to pick who handles your business when you’re gone. Missouri assigns someone or leaves the family to fight it out.
More critical is what happens if you’re alive but can’t speak up. Powers of attorney and healthcare directives—these pick who decides for you about money or medical treatment. Without them, families often have to haul everyone to court, trying to get legal standing for what you would have wanted. It costs. It wears people down. And it’s preventable.
Myth #3: “I’m Too Young to Worry About Incapacity or End-of-Life”
You can be healthy at breakfast and on a ventilator by dinnertime. Accidents don’t care about youth. In Missouri, having durable powers of attorney for finances and healthcare lets you choose. Otherwise, a judge may hand control to an estranged cousin or a third party who doesn’t know you at all.
Turn 18 in Missouri, and your parents can’t call the hospital to check on you, nor do your banking if you’re laid up. HIPAA and privacy laws make a wall. A few sheets of paper—health care proxy, HIPAA release—patch the wall. Without them, emergencies become gridlock, and the simplest tasks get tangled.
Myth #4: “Estate Planning Is Complicated and Costs a Fortune”
Lawyers joke about thick binders and billable hours, but most young adults don’t need that. Missouri’s laws support streamlined, affordable documents if you know which ones matter. Many attorneys offer sensible packages for young people, not expensive trusts made for millionaires. You don’t have to spend a pile to get it right.
Downloadable templates, though tempting, are risky. Missouri’s signature rules or witness requirements are strict. Get one thing wrong, and your plan vanishes when it’s needed most. An attorney’s guidance now—just for the basics—can avert big messes and bigger expenses down the road.
Myth #5: “If I Die, My Student Loans Fall on My Family”
If you’re in Missouri, student loans are no small worry. Federal loans? They die with you. But private loans, not always. Some carry claims to cosigners, or estates. Your parents could get calls if the paperwork wasn’t clear, especially with smaller banks or lenders that like to fish in probate claims.
Know your debt—what rules apply to it, what benefits it has, how it plays out if you’re gone. Spell it out for whoever’s handling your estate. It can save grieving families from nasty surprises just as they’re trying to process loss.
Steps Young Missourians Should Take Right Now
Start with Key Documents—Don’t Wait
No matter your age or net worth, every Missourian should have these on file:
- Last Will and Testament: States who gets what, and who’s in charge.
- Durable Power of Attorney for Finances: Lets someone pay your bills and handle accounts if you can’t.
- Durable Power of Attorney for Health Care: Names who will make medical decisions and carry out your wishes.
- Living Will (Advance Directive): Lays out what you want at the end of life, especially life support.
- HIPAA Authorization: Grants access to medical records for those you trust in an emergency.
Don’t skip beneficiary designations. Bank forms, retirement paperwork, and life insurance—fill in who you want. Missouri’s pay-on-death and transfer-on-death options keep more out of court and in the right hands.
Don’t Ignore Your Digital World
A lot of value today sits on a phone or laptop—crypto, email, even photo archives. Most old-school wills ignore this. Missouri lets you name a digital executor. You can specify access instructions or logins through a digital asset memo attached to your will. Without one, accounts can get locked up for good, and important memories may vanish. Write it down. Be clear. Make it easy for someone to settle up without a fight with tech companies.
Cover Pets, Cars, and Keepsakes
It sounds small—who gets your dog, or your first guitar, or the car with your stickers on it—but families can fall out over things like this. Missouri law helps: you can specify pet care or use a TOD for cars with the Department of Revenue. If you care about what happens, spell it out and leave nothing to chance or courtroom arguments.
Update Regularly—Life Changes, So Should Your Plan
Early adulthood is chaos. New bank accounts, new cities, new people in your circle. Your plan from five years ago may be outdated already. Missouri law can change, too. Check in with your attorney whenever your life takes a turn. Make sure the pages still fit your reality.
Clearing the Fog: What You Gain When You Plan Ahead
A few basic documents, done early, clear the road for everyone you care about. You get a say in what matters. You spare your family from red tape, confusion, and maybe from each other’s tempers. It’s not hard, not expensive, and every step moves you from guesswork to certainty.
Myths hold people back until life’s worst moments force action. Brush them aside. Do the work up front. When you do, your wishes stand, your loved ones have clear instructions, and you get to walk through adulthood knowing you’re covered—whatever comes next.
