Difference between revisions of "Estates in Missouri"

From WFG Wiki
(Small Estates)
Line 6: Line 6:
 
==Affidavits of Title==
 
==Affidavits of Title==
  
Missouri does not allow the use of Affidavits of Title outside of formal estate administration for the purposes of passing real property.  It does have a procedure for small estate administration that uses an Affidavit of Administration of Small Estate for passing real or personal property when an estate's total value is under $40,000[https://law.justia.com/codes/missouri/2011/titlexxxi/chapter473/section473097/ MO Rev Stat § 473.097].
+
Missouri does not allow the use of Affidavits of Title outside of formal estate administration for the purposes of passing real property.  Small estates can be handled through a summary proceeding that uses affidavits, but only in the context of a formally open estate.  <u>See>/u> Small Estates below.
  
 
==Ancillary Proceedings==
 
==Ancillary Proceedings==
Line 46: Line 46:
  
 
==Small Estates==
 
==Small Estates==
 +
 +
Missourihas a procedure for small estate administration that uses an Affidavit of Administration of Small Estate for passing real or personal property when an estate's total value is under $40,000.  [https://law.justia.com/codes/missouri/2011/titlexxxi/chapter473/section473097/ MO Rev Stat § 473.097].
  
 
* [https://eforms.com/small-estate/missouri-small-estate-affidavit/]
 
* [https://eforms.com/small-estate/missouri-small-estate-affidavit/]

Revision as of 17:45, 1 August 2018

Overview

Sources

Affidavits of Title

Missouri does not allow the use of Affidavits of Title outside of formal estate administration for the purposes of passing real property. Small estates can be handled through a summary proceeding that uses affidavits, but only in the context of a formally open estate. See>/u> Small Estates below.

Ancillary Proceedings

Ancillary proceedings are required to be filed with the probate court when dealing with property of a non-resident decedent.

Claims

Liabilities for claims against the estate and state inheritance tax are transferred to the proceeds of the sale of property. Secured claims such as deeds of trust and other liens on the property, such as judgment liens, must be satisfied.

Death Certificates

Death Taxes

Missouri has an estate tax, which is set forth in Chapter 145 of Missouri Revised Statutes. A tax is imposed on the transfer of every decedent's estate. The tax is defined as the maximum credit for state death taxes allowable to the estate of the decedent against the federal estate tax by Section 2011 or any other provision of the laws of the United States.

Liens for state estate taxes pass to the proceeds of the sale of property out of the estate.

Devises

Fiduciaries

Intestacy

A surviving spouse takes the entire estate if there are no children. If there are children, the spouse takes half, and the children take half per stirpes. If there is no surviving spouse, the children take per stirpes. If there is no surviving spouse or children, then parents, brothers and sisters share per stirpes. Grandparents, uncles, aunts and their descendants are next in order followed by kindred of the deceased spouse. If none of those persons exist, the property escheats to the state.

Probate

Probate of a Will is barred unless presented for probate within six months from the date of the first publication of notice granting letters testamentary or of administration or within thirty days from the commencement of an action to contest the validity of a will, whichever is later. No will can be admitted to probate and no administration granted unless application is made to the court within one year from the date of the death of the decedent. Claims not filed within six months after the first published notice of letters of testamentary are barred. If no administration is had, claims are barred one year from the date of the death of the decedent.

Foreign Probate

Slayer's Act

Missouri does not have a statute governing situations where a beneficiary is barred from inheritance for deliberately murdering a decedent. It does, however, have a common law rule equivalent of such a statute. [1]

  • Barnett v. Couey, 224 Mo. App. 913, 27 S.W.2d 757 (1930).
  • Grose v. Holland, 357 Mo. 874, 211 S.W.2d 464 (1948).

Small Estates

Missourihas a procedure for small estate administration that uses an Affidavit of Administration of Small Estate for passing real or personal property when an estate's total value is under $40,000. MO Rev Stat § 473.097.

Wills

Cross-References