Small Estate Administration

In Missouri, small estate administration provides a simplified probate process for the estates of deceased individuals whose assets fall below a certain threshold. The threshold is $40,000 for estates not including certain exempt property. Here are the key aspects of 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 can use a small estate affidavit to collect and distribute assets without going through full probate. The affidavit is a legal document that provides proof of the decedent's death and outlines the heirs' rights to the assets.

3. Key Steps in Small Estate Administration

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.

4. Court Involvement

Unlike formal 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.

5. Limitations

The small estate process is only applicable if the estate meets the value requirement.

If the estate has outstanding debts or complex issues, full probate may be needed regardless of the asset value so long as it is filed within the required time periods.

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 formal probate, it is advisable to consult with a probate attorney to ensure compliance with all legal requirements and to navigate any potential complexities.