Probate Processes: Small Estate Administration in Missouri
In Missouri, small estate administration makes probate easier. Here are the main points about small estate administration in Missouri:
1. Eligibility
To qualify for small estate administration, the total value of the decedent's estate must be $40,000 or less, excluding exempt property such as joint property or trust assets.
2. Small Estate Affidavit
If the estate qualifies, heirs or beneficiaries file an affidavit to collect and distribute assets without going through full probate.
Here's a general outline of the steps involved in small estate administration in Missouri:
Determine Eligibility: Ensure that the estate qualifies under the small estate threshold.
Obtain Death Certificate: The person handling the estate should obtain an official death certificate of the deceased.
Prepare the Small Estate: Including a list of heirs and their relationship to the decedent.
Present to the court: Open the court matter.
3. Court Involvement
Unlike full probate proceedings, small estate administration typically does not require extensive court involvement, making it a quicker and less costly process. However, if there are disputes among heirs or complexities that arise, formal extended probate, such as a full or large estate may still be necessary.
4. Limitations
The small estate process is only applicable if the estate meets the value requirement.
If the estate has certain outstanding debts or complex issues, full probate may be neede.
Conclusion
Small estate administration in Missouri offers a streamlined process for handling smaller estates, allowing heirs to access the deceased's assets efficiently. While the process is simpler than full probate, it is advisable to consult with a probate attorney to ensure compliance with all legal requirements and to navigate any potential complexities.