Durable Financial Power of Attorney in Missouri

A durable financial power of attorney names someone you trust (your “agent”) to handle your finances if you become ill, injured or unable to manage them. Without one, your family may need to go to court to get that authority.

What Your Agent Can Do

Depending on the powers you grant, your agent can pay bills, manage bank and investment accounts, file taxes, deal with insurance and benefits, and buy, sell or manage property.

Missouri Requirements

• It must say it’s durable. In Missouri, a power of attorney ends if you become incapacitated unless it states that it is durable (RSMo 404.705).
• Notarization. A durable power of attorney must be signed before a notary.
• Real estate. If your agent may handle real estate, the document is recorded with the Recorder of Deeds in each county where you own property.
• Timing. It takes effect immediately unless it names a later date or event.

Choosing Your Agent

Pick someone trustworthy and organized, and name a successor agent as a backup. We’ll talk through which powers to include, such as gifting or changes to trusts, so the document fits your situation.

Why Legal Hero

As an attorney and CPA, David Koonce drafts financial powers of attorney with the practical tax and money-management issues in mind.