How to Access and Withdraw Money in a Deceased Person’s Bank Account During Probate in Missouri
Disclaimer: This article provides general information and is not legal advice.
Detailed Answer
In Missouri, you access funds in a deceased person’s bank account by following probate rules. The process depends on account type and estate size.
1. Check Account Titling
First, review the account. If it was a joint account with rights of survivorship or had a payable-on-death (POD) beneficiary, the bank may release funds directly. Present a certified death certificate and beneficiary documentation. Missouri’s payable-on-death rules are in RSMo §461.035.
2. Use the Small Estate Affidavit (Under $40,000)
If the total estate value is less than $40,000 and no administration is pending, you can use a Small Estate Affidavit under RSMo §473.223. To qualify:
- No real estate requires administration.
- Estate assets do not exceed $40,000.
- You wait the required time (usually 30 days after death).
Complete the affidavit, attach a certified death certificate, and present it to the bank. The bank will release funds up to the statutory limit.
3. Open Formal Probate
For larger estates or if no POD/joint account applies, file a probate petition in the circuit court where the decedent lived under RSMo §473.030. Steps:
- File a petition for probate.
- Publish required notices as ordered by the court.
- Get appointed as personal representative.
- Obtain Letters Testamentary or Letters of Administration (RSMo §473.630).
- Present certified letters and the death certificate to the bank to withdraw funds.
Helpful Hints
- Order multiple copies of the certified death certificate early.
- Review account statements to identify POD or joint accounts.
- Gather beneficiary designation forms and account agreements.
- Contact the bank in advance to learn its document requirements.
- Keep copies of all documents submitted and receipts received.
- Consult a probate attorney if the estate is large or complex.
This article is a general guide and not legal advice. For personalized advice, contact a licensed attorney in Missouri.