Detailed Answer
When someone dies without a valid will in Missouri, the estate passes through intestate succession under state law. The probate court appoints an administrator who collects the decedent’s assets, pays debts, and distributes the remainder to heirs. If one of the heirs is a minor, the court takes extra steps to protect that inheritance.
1. Intestate Succession Rules
Under Missouri’s intestacy statute, Mo. Rev. Stat. §474.010(2) (revisor.mo.gov), each child inherits an equal share. This rule determines the minor’s baseline entitlement.
2. Appointment of an Administrator
The probate court appoints an administrator under Mo. Rev. Stat. §473.780 (revisor.mo.gov). The administrator must post a bond and manage estate assets under court supervision. This bond and oversight ensure the minor’s share remains secure until distribution.
3. Guardianship of the Estate
When an heir is under 18, the court appoints a guardian of the estate under Mo. Rev. Stat. §475.010 (revisor.mo.gov). The guardian holds, invests, and accounts for the minor’s inheritance until the child reaches legal age or the court orders otherwise.
4. Custodial Accounts via UTMA
Missouri’s Uniform Transfers to Minors Act (UTMA) is codified at Mo. Rev. Stat. §475.600 et seq. (revisor.mo.gov). Under UTMA, a custodian can hold property for a minor without full guardianship proceedings. The property automatically transfers to the child when they reach the age specified by statute (typically 21).
5. Bond Requirements and Oversight
Guardians and administrators typically must post a surety bond unless the court waives it under Mo. Rev. Stat. §475.115 (revisor.mo.gov). The court reviews periodic accountings to confirm the minor’s funds remain safe and are used only for the child’s benefit.
6. Trusts as an Alternative
When greater control is desired, the court or administrator can establish a trust for the minor under Mo. Rev. Stat. §474.320 (revisor.mo.gov). A trust can provide professional management and permit custom distribution schedules beyond the child’s 18th birthday.
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation.
Helpful Hints
- File for probate promptly to begin asset protection and distribution.
- Review bond requirements and seek waivers if appropriate.
- Consider a UTMA custodianship to simplify management of the minor’s assets.
- Explore trusts to tailor distribution timing and conditions.
- Seek early legal advice to safeguard the minor’s inheritance throughout probate.