Spencer Fane attorney Charli Steed recently authored an article, published by the Springfield Business Journal, that breaks down powers of attorney in estate plans. The pandemic had an effect on Missouri’s most common type of power of attorney in estate plans – the durable power of attorney for financial purposes.
In her article, Missouri Gives Options in Powers of Attorney for Financial Purposes, Charli outlines the different types, including springing and non-springing durable power of attorney, and the advantages and disadvantages of each.
In the article, Charli ended with advice, saying, “Regardless of the type of durable power of attorney for financial purposes you may choose, both types, and for that matter, all estate planning documents, must be executed by an individual who is of sound mind – meaning they must have requisite mental capacity to understand their actions.”
At Spencer Fane, Charli is an attorney in the Tax, Trusts, & Estates group, focusing her practice in the areas of tax, wealth preservation, and general business.
To read the full article, please click here. Please note, a Springfield Business Journal subscription may be required.