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Missouri recognizes a modified process to probate an estate where the “entire estate, less liens, debt and encumbrances does not exceed forty thousand dollars.” This process is often referred to as “Small Estate Affidavit” because only an affidavit has to be filed with the court in order to probate the assets. This shortened approach to probate is very different from the longer, more complex process that is required with a larger estate. The purpose behind …

If a probate estate is over $40,000 and no full estate (independent or supervised) is opened within one year of the date of decedent’s death, you will likely have to probate the assets through a process called “Determination of Heirship.” The court may grant a petition for Determination of Heirship if the following conditions are met: The petition cannot be filed until one year after decedent’s death No prior estate administration was completed and no …

After a loved one passes away, it may be necessary to distribute the assets of the decedent to the legatees or heirs. If the person died with a Last Will and Testament, the Will must be admitted to the proper probate court within one year of the decedent’s death, with a few exceptions (RSMo 473.050). The probate court will likely require the following information in order to approve or deny your Application for Probate of …

Probate law is a critical yet often overlooked area of law that deals with the distribution and management of a person’s estate after their death. This area of law ensures that the decedent’s debts are paid, and their assets are distributed according to their last will and testament. If no will exists, probate law provides a default plan for distribution. In this blog post, we will explore the basics of probate law in Missouri. What …

The federal gift and estate tax exclusion is currently very high—$11.58 million for an individual and $23.16 million for a married couple in 2020. As a result, only very wealthy people currently need to be concerned that their estates will be taxable at the federal level, at least until 2026, when the increased exclusion amount is scheduled to return to the $5 million (adjusted for inflation) exclusion in place before the 2017 Tax Cuts and …