Probate is a legal process used to administer an estate after a person dies. The process categorizes and distributes the deceased’s assets and pays off any remaining debts. Though important, this process can be frustrating and expensive for the deceased’s surviving loved ones. There are options for managing an estate outside of probate. A St. Charles estate planning attorney can help you determine options for keeping your estate out of probate.
When an individual has no estate plan, or only has a will as their estate plan, their estate will enter probate, including all of their property and other assets. The amount of time probate takes relies on factors like the number of assets in the estate, how complex they are to value, and how many disputes and contests there are by interested parties.
Understanding how the probate process works can help you whether you are beginning the process of administration or determining how to plan for your estate’s management.
What Are the Steps in Probate?
In Missouri, having an attorney is required for much of the probate process. The steps of probate in Missouri are generally as follows:
- Requesting Probate
First, a request is filed with the probate court for either letters of testamentary or letters of administration. If there is a will, the court will review its validity. The named executor of a valid will is then placed in charge of the administration of the estate. The executor will follow the deceased’s wishes listed in their will regarding the payment of their debts and the distribution of their assets.
If there is not a will, the existing will is not valid, or the will does not list an executor, the court will appoint a personal representative. With no will, the personal representative administers the estate and distributes it according to intestate succession laws.
- Informing Creditors and Heirs
The executor or personal representative must give notice to the heirs and beneficiaries of the estate and the creditors of the estate. The known heirs, beneficiaries, and creditors must be given direct notice. To reach unknown creditors and heirs, the representative should publish a notice in the paper.
- Inventorying Assets
During the months that creditors have to file their claims, the representative can secure the assets listed in the will. If there isn’t a will, the representative must gather and secure all assets in the estate. The probate court should be provided with a list of all the assets in the estate. There should also be a professional appraisal of the assets. The personal representative has a fiduciary duty to act in the interests of the heirs or beneficiaries of the assets.
It is during this time that the representative and probate court will address any contests or disputes if they exist.
- Paying Claims and Expenses
Once the deadline for creditor claims has passed and the estate has been inventoried, the representative should pay the creditor claims that are valid. They should also pay the taxes for the estate and any of its expenses. If there are insufficient funds to pay these bills and expenses, assets can be sold to pay them.
- Distributing and Closing the Estate
Finally, the personal representative must provide the court with a statement of the income, debts, expenses, and the intended distribution of the estate. They should request the court’s approval to distribute the estate. Assets are distributed based on the deceased’s will or by state succession laws.
The estate can then be closed, and a final receipt can be sent to the probate court. This ensures the estate is closed properly and the representative can be released from their responsibilities.
FAQs
Q: How Does the Probate Process Work in Missouri?
A: The probate process in Missouri is the state’s way to settle a deceased individual’s estate. It includes steps such as:
- Finding an attorney
- Submitting the deceased’s will to probate, if one exists
- Publishing notice to known and unknown creditors
- Inventorying and valuing assets
- Settling valid creditor claims and paying taxes and expenses
- Providing the court with a statement of the income and expenses of the estate
- Distributing the assets to the legal heirs or will beneficiaries
- Closing the estate
Q: Does Missouri Require a Lawyer for Probate?
A: Yes, you are required to have a lawyer for probate in Missouri for the process of probate administration. There may be some aspects of the process that do not require an attorney, like applying for probate. However, it is in your interests to work with a skilled probate administration attorney throughout the entire process of probate.
An attorney has the skill and resources needed to inventory and value assets and ensure you are following each step accurately.
Q: How Long Does an Executor Have to Settle an Estate in Missouri?
A: There is no exact deadline for an executor to settle an estate in Missouri. Each step in the process should be done promptly to avoid delays or issues. The executor or personal representative, once appointed, must provide notice to creditors. These individuals have six months to file their claims with the estate.
If there are no complications, the executor could settle and close the estate shortly after. Contests, disputes, or complex assets could lengthen the process.
Q: Does a House Have to Go Through Probate in Missouri?
A: A house will likely go through probate in Missouri unless the deceased has taken estate planning steps. This includes actions such as:
- Being co-owned with a right of survivorship
- Being under the joint ownership of a married couple or tenancy by the entirety
- Having been placed into a trust to pass to beneficiaries
A house may avoid probate court if the estate qualifies for a small estate affidavit, and therefore, can pass immediately to the heirs without probate.
Contact Stange Law Firm in St. Charles
Preparing an estate plan can give you more control over what happens to your assets and how your loved ones are financially supported. Comprehensive estate planning can even help you avoid the probate process. A skilled attorney at Stange Law Firm can help you determine how an estate plan can support your goals. Contact us today.
