Looking for assistance with filing a small estate affidavit or clearing up probate in Missouri? Asset & Elder Law Solutions, a reputable law firm in Springfield, Missouri, can provide you with expert guidance throughout the entire process.
What is a Small Estate Affidavit in Missouri?
A small estate affidavit in Missouri is a legal document that allows the personal representative to handle the estate of a deceased Missouri resident with only a modest estate. In this case, a small estate refers to property valued at $40,000 or less, after the debts of the deceased have been paid.
Missouri’s Special Procedures for Small Estates
Recognizing the need for a more efficient and affordable solution, the state of Missouri has established special procedures for handling small estates. The aim is to prevent county Probate Courts from being overwhelmed with small cases. These procedures ensure that small estates receive express-line treatment, allowing for quicker and smoother resolution.
Who Can File a Small Estate Affidavit?
Typically, the affiant, the person who submits the affidavit, is a family member who is either a legal heir according to state distribution laws or a named beneficiary in the will.
Review and Approval by the Probate Court
The small estate affidavit is reviewed by the Probate Court. Once approved, the court issues a certified order, authorizing the efficient collection and distribution of the estate’s assets.
Avoiding Full Probate for Small Estates
Filing the small estate affidavit allows the affiant to avoid full, formal probate proceedings. With this simplified probate process, closing a typical small estate usually takes approximately two months. In contrast, regular probate can take no less than six months, often extending to a year or more.
Requirements for Filing a Small Estate Affidavit
To file a small estate affidavit, you need to follow these steps:
- Draft the affidavit and sign it in the presence of a notary.
- File the affidavit with the Probate Court in the county where the deceased person resided. For example, if the person passed away in Springfield, Ash Grove, Fair Grove, Strafford, Republic, or Willard, Missouri, the filing would be in Greene County.
- Include a copy of the death certificate and the Last Will and Testament, or if no will exists, indicate this in your pleadings.
- Prepare the necessary filing fees and comply with other formalities, which can be explained by your attorney.
If there is real estate involved, provide proof of the home’s value and any existing loans. The county Probate Court may accept various methods to establish valuation, such as a realtor’s letter, an appraisal, or the county tax appraisal in some counties.
Why Seek Legal Assistance for a Small Estate Affidavit?
Having an attorney by your side can ensure that your small estate affidavit meets all legal requirements. The attorney can assist you with various aspects of the probate process, including:
- Admitting a Last Will and Testament into evidence if one exists.
- Identifying legal heirs and locating them.
- Determining which assets require probate and which do not.
- Obtaining an estate bond or bond waiver.
- Advising on funeral and burial expenses.
- Referring you to a CPA or tax professional for tax-related matters.
- Ensuring proper publication of the notice to creditors in the newspaper.
- Preparing inventories, appraisals, and asset details.
- Facilitating the disposition of co-owned real property.
- Liquidating assets as necessary for distribution among beneficiaries.
- Handling situations where the deceased left no will, ensuring proper distribution under state law.
Exploring Alternative Probate Procedures
In cases where there are a small number of assets in the name of the deceased, alternative probate procedures may be considered. Surviving spouses and children can explore options such as the Refusal of Letters under the Missouri Statutes. Additionally, there is a Refusal of Letters in Favor of a Creditor if the decedent owed you money. Our experienced attorneys can provide guidance on whether these alternative probate avenues apply to your situation and whether they are the best course of action based on your circumstances. We will also ensure that you have a comprehensive understanding of all the necessary documents to gather and assist you in meeting all the filing requirements.
Even Small Estates Pose Challenges – We’re Here to Help
At Asset & Elder Law Solutions we specialize in guiding clients through various probate cases, including the small estate affidavit process. If you require assistance with filing a small estate affidavit in Missouri, don’t hesitate to reach out to us. Contact us today to schedule a FREE consultation and get started on resolving your small estate matters efficiently and effectively.
When a person passes away, there are situations where probate becomes necessary to settle the decedent’s affairs under court supervision. In Missouri, probate cases can be costly and time-consuming, often lasting a year or more, which can cause anxiety and frustration for those involved.
However, Missouri’s Probate Code offers several alternative probate procedures that can be completed in a shorter timeframe. These procedures are suitable for specific circumstances and can expedite the settlement of a probate case. Here is a brief description of some of these alternative short-term probate procedures:
Application for Refusal of Letters for a Surviving Spouse or Unmarried Minor Children
In this procedure, the court can refuse to grant testamentary letters or letters of administration. This allows the surviving spouse or unmarried minor children to receive exempt property as per §474.250, RSMo, or the property allowance granted to them under §474.260, RSMo. There is no value limit for the assets included in this refusal of letters as long as they meet the exemption criteria and the allowance granted. The court is expected to rule on the application within 60 days.
Application for Refusal of Letters to a Creditor
If the decedent’s personal estate does not exceed $15,000 and there is no surviving spouse or unmarried minor children, a creditor of the decedent may apply for refusal of letters. The creditor will sell the assets, pay off the debts in order of priority, and distribute any remaining balance to the entitled parties according to applicable law. The court should rule on the application within 60 days.
Small Estates
When the net value of the probate estate is below $40,000, the heirs can file an Affidavit for Collection of Small Estate. A 30-day waiting period is required before filing the affidavit. If the net value is between $15,000 and $40,000, two publications in a local newspaper are necessary. Estates with a net value below $15,000 do not require publication. Typically, the small estate affidavit procedure is used by family members other than the spouse or unmarried minor children. The court may require a bond, but it is often waived. The affidavit must state that all debts, claims, demands, and estate taxes have been or will be paid. The person signing the affidavit is liable only up to the value of the property received. The court can usually process a small estate affidavit within two to six weeks.
Petition for Determination of Heirship
A petition for determination of heirship can be pursued when no administration of the decedent’s estate has commenced within one year of the decedent’s death, and no will has been presented in Missouri. This procedure involves presenting evidence in a court hearing and providing notice to interested parties through publication in a newspaper. During the hearing, the court enters a decree determining the heirs and their respective interests in the decedent’s property. Typically, this case can be resolved within 90 days from filing with the court.
Nonresident Decedents Can Dispense with Administration
If a nonresident decedent owned property in Missouri, a short-term probate procedure can be used. This proceeding is an independent original proceeding under Missouri law and is not ancillary to proceedings in any other state. The timing involved in this short-term probate procedure for a nonresident decedent is the same as for a Missouri resident.
If you have a friend or loved one who has passed away in Missouri, Asset & Elder Law Solutions can help determine if a probate action needs to be filed and if it is possible to minimize the time involved by utilizing an alternative probate procedure. Our experienced team will guide you through the process and provide the necessary support. Contact us today for assistance.