After losing a loved one, you might wonder if you have to go through Missouri probate. For small estate, there may be simplified procedures that streamline the process. This can reduce the costs and have fewer court requirements along with it. If the decedent planned well, you may be able to avoid probate altogether.
The family law attorneys at Mark Harford Law help you determine whether probate is necessary for a small estate. If so, we guide you through the process to ensure that everything is done correctly and efficiently. Speak with us today to learn more about how we can help.
What Is Considered a “Small Estate” in Missouri?
Estates that are worth $40,000 or less may often utilize a simpler process in probate. This only applies to the types of assets which must go through probate. If other assets exist that are not subject to probate, it will likely not count towards this total.
Common probate assets include:
- Vehicles titled only in the decedent’s name
- Bank accounts
- Personal property
- Real estate owned solely by the decedent (though special rules apply)
Assets that do not count toward the $40,000 limit include:
- Life insurance with named beneficiaries
- Retirement accounts with beneficiaries
- Jointly owned property, if there are rights of survivorship
- Transfer-on-death (TOD) deeds
- Beneficiary deeds
- POD bank accounts
Because many people use beneficiary designations or joint ownership, a surprising number of estates qualify as “small” under Missouri law.
When Probate Is Not Required
If the estate is small enough and you follow the procedures correctly, you will likely not have to go through full probate. Instead, the surviving family members can use a simplified process:
- Small Estate Affidavit
- Refusal of Letters (for surviving spouses or minor children)
- Collection of Small Estate by Affidavit (for estates with no real property)
This lets you transfer assets without having to deal with the usual probate process, which includes more expense and oversight by the court.
The Small Estate Affidavit Process
A Small Estate Affidavit is the most common alternative to traditional probate. It lets the heir, or a creditor, to distribute assets without the need to open a full probate estate.
To qualify, the estate must:
- Have a total probate value of $40,000 or less
- Have no pending probate case
- List all assets
- List all debts
- Provide a death certificate
- Provide written notice to all heirs and beneficiaries
Once you get the affidavit filed and approved, the court will issue an order allowing assets to be transferred.
Refusal of Letters for Spouses and Minor Children
Missouri offers an even simpler option for surviving spouses and minor children. Under the Refusal of Letters procedure, the court can transfer assets directly to the spouse or children without requiring a full inventory or accounting.
This option is available when:
- The estate is small enough to cover the family allowance and exempt property
- The spouse or minor children file the required petition
- The estate does not exceed the statutory limits
This process is often faster than a Small Estate Affidavit and is designed to ensure immediate support for the surviving family.
Small Estate Affidavit Without Real Property
If the estate has no real estate within it, Missouri lets heirs use another simplified affidavit to collect personal property. This is often used on:
- Vehicles
- Bank accounts
- Personal belongings
When Probate Is Still Required
Even if the estate is small, probate may still be necessary in certain situations, including:
- Disputes among heirs
- Unclear or contested wills
- Creditors seeking payment
- Real estate titled solely in the decedent’s name
- Missing or unknown heirs
- Assets exceeding the $40,000 limit
In these cases, the court may require a traditional probate case to ensure proper administration.
Get Help With Missouri Probate: Even With Small Estates
While the simplified procedures are simpler than full probate, they are still not easy. They require specific filings, deadlines, and compliance with legal requirements. Having an attorney guide you can be key. If you are looking to create an estate plan, your estate planning lawyer can help you avoid probate altogether to save your family the trouble in the future.
Let the dedicated estate planning attorneys at Mark Harford Law help you. Contact us today for a consultation.