Missouri Personal Representative Without Bond
Description
How to fill out Missouri Personal Representative's Deed To Individual?
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FAQ
If the Will is not filed with the Probate Court within the required one year period, the Will becomes invalid ? it is no longer any good. The Will essentially ?expires?.
However, there are some simplified probate alternatives for smaller estates: For personal property valued at $40,000 or less, a simple affidavit can be used to transfer the property to the beneficiaries without going through probate, provided that no other probate proceedings have commenced.
Under Missouri Law, the Personal Representative is the individual appointed to administer and wind-up a decedent's estate. This is essentially the same thing as an ?administrator? or ?executor? in other states.
The person who desires to be in charge of the probate estate files an application with the Probate Court to act as the ?personal representative? (also called ?executor?) of the estate. When approved by the Probate Court, that person must comply with certain responsibilities established in the Missouri Probate Code.
Probate is not required unless there is at least one asset ?stuck? in the name of the decedent only, with no beneficiaries being named on that asset.