Estate Planning – It’s Important to Do, But Easy to Procrastinate

Benjamin Franklin said, “but in this world nothing can be said to be certain, except death and taxes.”

Benjamin Franklin - Nothing certain but death and taxes

We all know that someday we are going to die. In that way, it is completely predictable. Yet, since none of us know precisely when we will, we often feel that death is very unpredictable.

Often my estate planning clients report that they have been thinking about doing estate planning for quite some time, usually years. Sometimes, decades. Yet, like many important things, it is easy to procrastinate. There is usually nothing demanding that we get it done this week, month, or year.
This procrastination is often overcome when a loved one dies, a medical challenge arises, or the encouragement (also sometimes described as nagging) of children finally triumphs.
Recently, a friend’s mother contacted me for some estate planning. The mother’s husband had just passed away at age 92… with no estate planning. The deceased husband’s estate now had to be divided between his current wife and his children from his prior marriages. It was mess.
The question that crossed my mind is, “At what age should he have stopped procrastinating and done some estate planning?” When he retired seems like a really good time to start the planning process. Likewise, when he remarried. And when he turned 70… and 75… and 80… and 85… and 90!

Often I tell people, “The only time you need to do estate planning is the day before you need it. Yet, since we never know when that day will be, the time to do it is now!”

If you are reading this article, it is likely that you or a loved one is procrastinating estate planning as well. I encourage you to stop procrastinating. Pick up the phone, make the call, get the process started, and take a step towards planning and peace of mind.

In Missouri, a Last Will and Testament Leads to Probate

Often I have clients schedule an initial consultation to discuss having a Last Will and Testament drafted for them. While I am happy to do this for clients, upon further discussion, most clients realize that what they actually want is something different than a Will.

Last Will and Testament image

A Will is great for nominating guardians for minor children. Having a Will is also far better than passing away intestate (that is, without a Will) where default Missouri law controls the management and distribution of your estate rather than it being distributed according to your desires.

Yet, a Will often leads to Probate Court. This is the very thing that most of my clients want to avoid. After all, probate court (1) costs money, (2) consumes your loved one’s time, (3) leaves some decisions up to the local probate judge, and (4) is a matter of public record.

A much better plan is to avoid probate. And in most situations, in Missouri, avoiding probate is not that difficult to do. Clients can avoid probate by using all or some combination of the following:
1. a Revocable Living Trust (RLT) agreement,
2. a Beneficiary Deed for Missouri real estate,
3. a Gift Deed for personal property,
4. Payable on Death provisions for bank accounts,
5. Transfer on Death provisions for vehicles and boats, and
6. Beneficiary Designations for retirement and financial accounts.

Might it cost a little bit of money now to avoid probate later? Probably. Yet, avoiding planning now is being penny wise and pound foolish. One great thing about estate planning is the peace of mind it brings to my clients, that their affairs are in order and their wishes will be carried out.

Local Courthouse Locations and Phone Numbers

In Missouri, each county has a courthouse, but some counties (like Cape Girardeau) have multiple county courthouses, plus a federal courthouse, as well as a municipal court. Here is the contact information for each of these courthouses as well as county courthouses in the surrounding counties.

Cape Girardeau County Courthouse Locations

Cape Girardeau County Courthouse
100 Court Street
Jackson, MO 63755
(573) 243-1755

and

Common Pleas Courthouse
44 North Lorimier, Ste. 1
Cape Girardeau, MO 63701
Cape Girardeau City Courthouse Location
(573) 335-8253

Other Cape Girardeau Courthouses

Federal Court (includes Bankruptcy Court)
Rush Hudson Limbaugh Sr. U.S. Courthouse
599 Independence St.
Cape Girardeau, MO 63703
573-331-8800

Municipal Court
City of Cape Girardeau
401 Independence
Cape Girardeau, MO 63703
(573) 339-6323

Nearby Courthouses

Scott County Courthouse
P.O. Box 587
Benton, MO 63736
(573) 545-3596

Bollinger County Courthouse
204 High Street
Marble Hill, MO 63764
Perry County Courthouse Location
(573) 238-1900

Perry County Courthouse
15 West Sainte Marie
Perryville, MO 63775
(573) 547-6581

New Madrid County Courthouse
450 Main Street
New Madrid, MO 63869
(573) 748-2228

Missouri CaseNet

We have a public system of justice and Missouri has a great way to allow the public to access most court records: Missouri CaseNet (www.courts.mo.gov). CaseNet is Missouri’s online access to public court records. It is available to anyone seeking information on court cases at those courts that are part of CaseNet.

From an attorney standpoint, I love CaseNet. It allows me to electronically file documents, and to access previously filed documents from any location where I have access to the internet. It is a huge improvement from having to file documents in person or via fax.

Estate Planning and Probate

If individuals choose to organize their affairs while they are alive, it is called Estate Planning. If individuals fail to plan while they are alive, then the process to organize their affairs is called Probate. Either way, if an individual has assets, his or estate will be organized by someone.

Estate Planning focuses on getting your assets to who you want, how you want, in the manner you want. To do this, we use a variety of tools including durable Powers of Attorney, Wills, Living Trusts, and Other Trusts (SNT, QTIP, Qualified Spousal Trust, Marital Deduction Trust). Like most things in life, when people take time to plan, they are more satisfied with the end result. When estate planning clients leave my office they are satisfied that they know how their assets are going to and when the transfer will take place.

Probate is the alternative to Estate Planning. It is the State’s estate plan for you. Each state has its own probate laws. In Missouri, the probate laws are found in Chapter 473 of the Missouri Revised Statutes. Say John and Jane are married and have 3 children together. If John passes away, the probate laws of Missouri (RSMO 474.010) state that Mary would get the first $20,000 of his estate and only half of the remaining estate. The other half of the remaining estate would go to the children. So to keep it simple, on an estate of $200,000, Jane would only receive $120,000 while the children would receive $80,000. Probably not what either John or Jane would have wanted. And this could have easily been prevented with simple estate planning.

Free options to avoid this include having Joint Accounts or Naming a Payable on Death beneficiary. Other, more powerful options include having a Will or a Revocable Living Trust. Simply not planning and hoping things will take care of themselves, is tough to justify when the solution is either free or fairly inexpensive. Planning is better.

Contact Information

Mark - headshot

My contact information is:
Attorney Mark McMullin
Law Office of Mark McMullin
2007 Independence St.
Cape Girardeau, MO 63703
573-334-5125 – Office
frontdesk@capegirardeaulaw.com

 

About Mark

Southeast Missouri is my home. I grew up in Scott City, Cape Girardeau, and Jackson. After practicing law in Columbia, Missouri, I had the opportunity to return home and practice in the area where I grew up.

My Bachelor of Science degree is in Finance from Brigham Young University. After finishing my undergraduate degree, I worked as an Accountant for the Capital Group of Companies (American Mutual Funds) in Irvine, California. There I was on the Global Institutions Operations Team. I performed asset reconciliations on multi-billion dollar accounts for some of the nation’s largest institutional investors. Yet, the difficulty with large institutional investors is that you never have the opportunity to meet your clients and see the difference you are making in the lives of individuals. So I decided that practicing law would give me the opportunity he wanted of being able to make a positive impact on people’s lives.

I attended the University of Missouri law school. While at Mizzou Law I was recognized as a Top 10 Oralist in Moot Court and for receiving the highest grades in Appellate Advocacy and Professional Responsibility. And with my background in finance I had the unique opportunity during my third year of law school to teach Finance 2000 (an undergraduate finance class) at Mizzou. I am proud of the fact that during my second semester teaching Finance 2000, I was recognized as Outstanding Finance Instructor based on student evaluations.

Being able to help people solve problems is enjoyable. Whether that problem solving uses my law license or background in finance, or some combination of both, I get great satisfaction out of being able to help individuals like you.

7 Questions with Bob Langdon of Langdon Emison

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Spend a few minutes with Robert (Bob) Langdon and you’ll see why he is one of the best trial attorneys in the United States. He’s confident, outgoing, and smart. He’s a past-President of the Missouri Association of Trial Attorneys, a past member of the Board of Governors of the American Trial Lawyers Association, and one of eight lawyers who spearheaded the case against Ford and Firestone for Ford Explorer rollover cases. Even with all of Bob’s success, he was happy to answer a few questions of an aspiring trial attorney.

1. How did you get started doing trial work?

I started out working in general practice. We had a couple of car wreck cases and we got good results. Because of the good results, more people called us and we got more clients.

2. Graduating law school, did you know that you wanted to do trial work?

Yes. I worked for a law firm in Columbia, MO at the time called Sapwood, Danaphan, Ore that did PI work. Working for them I knew that’s what I wanted to do.

3. Most important Missouri Tort Case?

There are so many. They’re all important. Joint and Several Liability and Comparative Fault are both really important.

4. How do you get in the courtroom as a young attorney? Prosecutor’s office or public defender?

Personally, I don’t think the experience in criminal law translates into personal injury very well. I think you are better off trying to get PI cases. You may start off taking smaller cases, $10,000 or $20,000 cases and actually trying them. That’s how I think you get in the courtroom when you’re young.

5. Thoughts on Marketing?

Better off going into the blogging world than running TV advertisements. [MM: I’m trying to put your advice to work.]

6. Your firm uses a lot of focus groups. Any suggestions on how to learn how to conduct an effective focus group?

You go to Missouri Association of Trial Attorneys or American Association of Justice programs and at those programs they will show you how to run your own focus group. You can run them for as little as $300-$400 or you can hire someone to do them for $10,000. Once you learn, you can do it as well as they can do it.

Sometimes we’ll have our jury consultant come in just to help us theme a case. We’ll run our own focus groups on the liability and sometimes on damages. We’ve even run them with our experts just to see what the focus group thinks. That is, we take the video from the experts’ depositions and show them to the focus group. There are a lot of things you can do. You can learn a lot from going to meaningful CLEs.

7. What pitfalls do you see young trial attorneys make as they try to make a name for themselves?

I think the biggest pitfall is that they are not willing to put in the time. It takes time. Being a trial lawyer takes a lot of time. It’s not a 9 to 5 job. An example of not putting in the time is not preparing witnesses. I’ve seen lawyers put their client on the stand without preparing them. We usually spend two or three sessions, we have handout materials, and we have videos to prepare our clients. We do a lot to prepare our clients to testify. The same goes for preparing experts. If you don’t prepare your experts for what’s coming then you are just playing with fire. Those are pitfalls I see, attorneys just not putting in the time needed to do this time of work.

 

6 Questions with Brett A. Emison of Langdon Emison

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Brett Emison was kind enough to take a few minutes to answer 6 questions on becoming a trial attorney. He works at Langdon & Emison and is an active blogger on the Injury Board.

 1. How did you decide that you wanted to do trial work?

Growing up I had to decide if I wanted to do more science and medicine or history and law. When I was a sophomore in high school my dad (Kent Emison) and Bob Langdon were just getting started trying complex catastrophic injury cases. They had a case against General Motors called Baker v. GM. I watched them try this case against some of the very best lawyers in the country and really fight for clients who lost their mom in a vehicle fire. They got a really nice verdict, had the verdict overturned on appeal, and took it to the United States Supreme Court. I became really interested in doing that type of intellectually rewarding work, helping families that need help, and just really loving what I do. After law school I spent a year doing corporate litigation and just did not find that nearly as rewarding as helping real people.

 2. I’ve read some Rick Friedman and David Ball. I’ve listened to Gerry Spence discuss voir dire. I find them all very interesting. Do you have any experts that you recommend?

We’ve used Jay Burke out of Florida to help with jury selection. I’ve met and talked with David Ball. His philosophies are really good. Gerry Spence’s are also really good. I wouldn’t say there is a right way or a wrong way to pick a jury. The biggest thing is to find jurors who are willing to have an open mind and be fair. I never ask for a jury of 12 people who are automatically on my side. I just want to find a jury of 12 people who are going to give me a fair shake and listen to the evidence. I have enough confidence in my client and our cases that if I have a jury that’s going to give us a fair shot I’m convinced that we’ve got a case that can win.

      3. I’m curious about marketing. How do you get people in the door?

I would say that 95% of our business comes from referring lawyers who we know on a personal basis, who have heard about our cases, or who have seen us talk at a seminar.

More and more the internet is going to be a big way to attract clients. My philosophy is not to use the internet for advertising but instead to use it as a way of introducing myself. To use it as a way to engage other people on the internet who are looking for information. I never put “sell language” in my blog post. My name and number is on there. If someone wants to find me they can certainly find me. I’m more interested in reaching out to other people, engaging in conversation, and really having a place where the plaintiff’s side or the injured person’s side can have a voice against the millions and millions of dollars from the U.S. Chamber of Commerce and the tort reform association.

4.  Your firm uses a lot of focus groups. Tell me about that.

Focus groups are really important. Anytime you are really involved with something you tend to focus so much on the details and you want to make sure you don’t miss something. I find it very difficult to proofread my own writing. Because I wrote it sometimes my mind skips over errors because I knew what I meant to say. So it is important to get that independent look at your work so that you know what issues you are missing and what questions you need to answer.

We don’t take a case unless it is strong enough to win. In order to win a case you have to be able to communicate that effectively to the jury. It’s not manipulating the facts. It’s figuring out how to effectively communicate that to the jury so that they understand the real issues in the case.

 5. With new clients, how long do you tell them to expect the case will take?

I always tell my clients that there are no guarantees in the law. When you are putting your faith in 12 people I can’t promise you a result. The American justice system is the best justice system in the world. Our courts are overworked, they don’t always get the resources they need, and it takes time for the case to go through.

It also takes time to work up a case. With a complex case you may have 250,000 to 500,000 documents to go through and that takes time. You have witnesses to depose, experts to depose, discovery, and pre-trial motions. I would say 18-24 months is pretty typical but it all depends on the venue, what court you are in, what type of case you have.

 6. What advice do you have for an attorney just starting out?

Reach out to other people. Develop relationships with lawyers. Develop relationships with the clients that you have. Your reputation is your biggest asset. Your client should be your biggest advocate and your best referrer. Likewise with lawyers that you work with. There is no magic bullet. You have to work hard. You have to be good at what you do. You have to develop the relationships to grow your practice.

Outlines – University of Missouri School of Law

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Writing your own outline can be valuable way to help you organize, learn, and retain the information. It also requires a lot of time and effort. And your end result is likely going to be quite similar to the outline that another student spent lots of time and effort creating the year before. So in an effort to help current students at the University of Missouri School of Law, I’ve gathered all of the outlines that friends, classmates, and graduates have shared with me.I hope this collection will be a helpful resource for any and all students who wish to use it.

And just as a disclaimer: these outlines have been freely shared with me and I am doing likewise. If you are the author of one of these outlines and do not wish to have it shared, just email me and I’ll remove it.