Missouri Durable Power of Attorney (Financial)

Last Updated: 6/19/2015

Document Description

Although we often make arrangements for our finances after we’re gone (in the form of a will, for instance), we don’t always think about making those arrangements for while we’re still around. Medical illness, injury or other catastrophic occurrence could make handling money matters difficult, if not impossible. That’s why it’s important to create a financial power of attorney now so that your affairs will be taken care of in the future.

In Missouri, the authorization to perform certain duties, such as executing a trust agreement or making a monetary gift, must be expressly mentioned by you, the principal. The Missouri Financial Power of Attorney will allow you to specify which powers your attorney-in-fact, or person to whom you’re granting those powers, will have.

Just about anyone can be appointed to serve as an attorney-in-fact, and it’s not required that he or she resides within the state of Missouri. However, the state does have some restrictions regarding the person(s) named:

  • If the principal lives in a Missouri Department of Mental Health or Department of Social Services facility, then the attorney-in-fact may not be someone connected with either of those facilities, unless related to the principal.
  • Unless closely related, full-time judges or clerks of court may not serve as attorneys-in-fact.
  • Neither the principal’s attending physician, nor anyone connected with a healthcare facility where the principal is a patient, may serve as an attorney-in-fact, unless related.

Regardless of the person you choose, you can rest assured that the Missouri Financial Power of Attorney will secure your concerns in several key areas, including paying for medical care (but NOT making healthcare decisions –, please see our Missouri Health Care Power of Attorney for that), handling claims and litigation, the safekeeping of your personal property and more.

As with all the documents you create on ezEstatePlanner, your Missouri Financial Power of Attorney will be available to you and your Keepers - those trusted individuals you’ve chosen to help you with your estate planning – 24 hours a day, seven days a week in your ezEstatePlanner Vault.

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