When a person passes without a well-drafted living trust, a person may need to go through a court managed process to remove the assets from the deceased person’s name and to pass them to beneficiaries. The process is typically referred to as “probate” or “estate administration”. The assets of the estate must be collected and managed. The probate process is unique in every case. Some estates will require the full court process, while some require the filing of an affidavit. However, the probate process usually consists of the following:
A petition is filed with the proper Missouri court. The petition is to appoint an executor or an administrator of the estate. Usually, this petition is filed in the county where the deceased person’s assets are located. Notice must be given to heirs under the will or, if no will exists, to statutory heirs.
The executor or administrator, with help of counsel, will perform an inventory and appraisal of the estate assets. Notice of the open estate will then be published. Payment of estate debts shall then be made to rightful creditors. Estate assets can be sold and estate taxes paid, if applicable. Finally, distribution of assets is made to the heirs.
Probate may also include the appointment of a guardian and/or conservator of an estate. Adult and minor guardianships are filed in the probate court. You can find out more information on that HERE.
Starting the process is an important first step. Fill out the form below or contact the office to schedule a consultation (816) 774-1107.
