Should an Executor Confirm Available Estate Funds Before Settling a Creditor Claim in Missouri?
Detailed Answer In Missouri, an executor (also called a personal representative) must confirm that the estate holds sufficient funds before paying any creditor claim. This step protects both the estate and the executor from personal liability. 1. Inventory and Appraisal of Estate Assets Under Missouri Revised Statutes §473.360, an executor must file a detailed inventory […]
Read article →What steps should be taken to negotiate and settle a creditor claim during probate in Missouri?
Disclaimer: This article is for educational purposes only and does not constitute legal advice. How to Negotiate and Settle a Creditor Claim During Probate in Missouri Detailed Answer 1. Identify and Notify Creditors When you open probate in Missouri, the personal representative must identify known creditors and publish notice to unknown creditors. Under Missouri law, […]
Read article →What documentation should an executor gather to respond to a creditor’s settlement demand in Missouri?
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation. Detailed Answer When an executor in Missouri receives a creditor’s settlement demand, gathering the right documentation helps ensure a fair, compliant resolution. Under Missouri law, you must verify the claim, review […]
Read article →How Can an Executor Challenge a Creditor Claim on Predatory Lending Grounds for an Elderly Decedent in Missouri?
Detailed Answer When an elderly person’s estate faces a claim from a creditor who used predatory lending tactics, the executor can challenge that claim by following Missouri’s probate rules and consumer protection laws. Predatory lending may involve unaffordable loan terms, hidden fees, or excessive interest rates that violate Missouri’s usury statutes (RSMo § 408.020). The […]
Read article →How to Access and Withdraw Money in a Deceased Person’s Bank Account During Probate in Missouri
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 […]
Read article →What factors determine the total cost of administering an estate in Missouri?
Detailed Answer Administering an estate in Missouri involves several costs. The total cost depends on factors such as court fees, executor or personal representative fees, attorney fees, appraisal and valuation fees, bond premiums, publication and notice costs, accounting and tax preparation expenses, and the payment of debts and taxes. Below is a breakdown of these […]
Read article →Which Documents and Certificates Should Be Collected to Begin Estate Administration in Missouri?
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation. Detailed Answer Starting estate administration in Missouri requires gathering key documents and certificates to prove your authority and identify assets and liabilities. Below is a checklist of essential items and the […]
Read article →How can estate expenses and ongoing bills be managed during the probate process in Missouri?
Detailed Answer Appointment and Authority When someone dies in Missouri, the probate court appoints a personal representative to manage the estate. Under RSMo §472.430, this person has the legal power to collect assets, safeguard property, and pay debts and expenses from estate funds. Paying Estate Expenses and Ongoing Bills Once appointed, the personal representative should […]
Read article →How Can a Beneficiary Compel an Estate Administrator to Pay an Inheritance Share in Missouri?
Detailed Answer Administrator’s Duty to Distribute In Missouri, a personal representative (administrator) must gather the decedent’s assets, pay valid debts and expenses, then distribute the remaining property to beneficiaries under the will or under the laws of intestacy (RSMo §473.015). 1. Confirm the Estate Is Ready for Distribution Missouri requires personal representatives to wait at […]
Read article →How does intestate succession work in Missouri when no will exists and decedent died with no spouse and two children?
Disclaimer: This article is for educational purposes only and is not legal advice. How Intestate Succession Works in Missouri When a person dies without a will (intestate) in Missouri, the probate estate distributes under Chapter 474 of the Missouri Revised Statutes. If the decedent leaves no spouse but has two surviving children, Section 474.010, RSMo […]
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