Detailed Answer
When someone dies without a will or with an estate requiring formal administration in Missouri, the court appoints an administrator. Missouri law builds in multiple checks to ensure that administrators fulfill their duties and maintain required bonds.
1. Bond Requirement and Surety
Under Missouri Revised Statutes § 473.221, the administrator must post a bond in an amount set by the court. This bond acts as a financial guarantee that the administrator will perform duties faithfully and protect estate assets. The court evaluates the estate’s value and may require a surety company or individual co-signer. If the administrator mismanages funds, claimants may pursue the bond to recover losses. See RSMo § 473.221 and bond conditions in RSMo § 473.223.
2. Inventory, Appraisal, and Notice to Creditors
Within three months of appointment, administrators must file a sworn inventory of estate assets and a list of known creditors under RSMo § 473.360. The court uses this inventory to set bond increases if new assets emerge. Creditors rely on the notice process to file claims timely. If the administrator fails to list assets or creditors, interested parties can petition the court to compel compliance or add additional bond coverage.
3. Court Supervision and Accountings
Administrators must periodically report on estate progress. Missouri law requires a final account at the conclusion of administration (RSMo § 473.390). The court reviews receipts, disbursements, and distributions. Any discrepancies or unauthorized transactions trigger court inquiry. Courts can surcharge (financially penalize) administrators for loss or waste and apply bond funds to cover shortfalls.
4. Petitions to Increase Bond or Remove Administrator
If the estate’s value grows or the administrator acts improperly, interested parties (creditors or heirs) may file a motion to increase the bond under RSMo § 473.223. They may also request removal of the administrator for misconduct or failure to perform duties. The court holds a hearing and can order a replacement or extra security.
5. Enforcement via Surcharge and Contempt
Should an administrator fail to account or misapply funds, the court can hold them in contempt and impose monetary penalties. Creditors and heirs can bring surcharge actions, asking the court to charge the administrator personally for losses. Bond proceeds may then reimburse creditors and beneficiaries.
Helpful Hints
- Ask the court clerk for deadlines on inventory and accountings.
- Keep copies of all estate filings and receipts.
- Monitor bond amounts and petition to increase if estate assets rise.
- Review Missouri probate forms at the state revisor website.
- Consult a qualified probate attorney if you suspect mismanagement.
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a licensed Missouri attorney for guidance on administering an estate.