Detailed Answer
In Missouri, a small estate affidavit lets heirs collect personal property without formal probate if the decedent’s estate value does not exceed $40,000 (exclusive of liens and encumbrances). See Mo. Rev. Stat. § 473.223. This streamlined process saves time and court fees.
1. Confirm Eligibility
- Total estate value (personal property and cash) must be ≤ $40,000. Exclude encumbered property and property passing by beneficiary designation.
- No real estate transfers via affidavit. Only personal property and cash. See Mo. Rev. Stat. § 473.230.
2. Identify Heirs and Shares
Under Missouri intestacy rules, heirs include surviving spouse and blood relatives. Review Mo. Rev. Stat. § 474.005. Allocate shares according to relationship:
- Surviving spouse takes entire estate if no descendants.
- If descendants exist, spouse takes half to three-quarters; balance divides among children.
3. Draft the Small Estate Affidavit
- Include decedent’s name, date of death, and estate value.
- List applicants (heirs) and their relationship to decedent.
- State that no administration is pending and eligibility criteria are met.
- Attach a certified copy of death certificate.
- Have affidavit notarized.
4. Present Affidavit and Claim Assets
Provide the affidavit and death certificate to institutions holding accounts or personal property. They must release property to the named applicants. If multiple heirs apply, they must sign jointly.
5. Distribute Assets Among Heirs
Once collected, distribute cash or property per the shares determined. Maintain detailed records and receipts for each heir.
6. Keep Records
Retain copies of the affidavit, death certificate, receipts, and any correspondence. Good records protect against future disputes.
Disclaimer: This article does not constitute legal advice. Consult a licensed Missouri attorney for guidance specific to your situation.
Helpful Hints
- Verify asset values carefully to ensure you meet the $40,000 limit.
- Gather a full list of heirs before drafting the affidavit.
- Use a template that mirrors the statutory language in Mo. Rev. Stat. § 473.223.
- Consider having all heirs present at signing to avoid later disputes.
- Consult an attorney if the estate exceeds the limit or includes real estate.