Detailed Answer
Missouri law sets a clear probate process to ensure that a decedent’s debts are settled and remaining assets distribute correctly. A personal representative (sometimes called an executor) oversees this process under the supervision of the circuit court. Here are the key steps to locate assets, file an inventory, address creditor claims, and distribute the estate.
1. Open Probate Administration
File a petition in the circuit court of the county where the decedent lived. If there’s a will, submit the original will and a certified death certificate. The court reviews your petition and, if approved, issues Letters Testamentary (for wills) or Letters of Administration (without a will), appointing you as personal representative (RSMo § 473.223).
2. Locate and Inventory Assets
Identify all estate assets, including real estate, bank accounts, investments, personal property, retirement accounts, and digital holdings. Within 90 days of appointment, file an inventory with the court listing each asset’s description and value (RSMo § 473.450).
3. Notify Creditors and Settle Debts
Publish a notice to creditors in a local newspaper and send direct notices to any known creditors (RSMo § 473.443). Creditors generally have six months from the publication date to file claims. After the claim deadline, review each claim and pay valid debts and administrative expenses in the priority order established by Missouri law (RSMo § 474.360).
4. Distribute Remaining Assets
Once debts and expenses are paid, prepare a final accounting and petition the court for distribution. The court reviews your accounting and, if approved, authorizes you to distribute assets according to the will or Missouri’s intestacy rules (RSMo § 473.817). After distribution, you may petition to close the estate.
5. Close the Estate
File a closing statement and request discharge from your duties. Once the court approves, your role as personal representative ends.
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney to address your specific circumstances.
Helpful Hints
- Gather key documents early: death certificate, will, account statements.
- Keep detailed records of asset values, payments, and correspondences.
- Store original estate documents in a secure location.
- Meet notice deadlines to protect the estate from unexpected claims.
- Use professional appraisers for real estate or unique property.
- Consider tax professionals for estate tax filings and planning.