Get MO 556-D - Clay County 2007

The Missouri small estate affidavit, also known as the 'Affidavit of Distributees for Collection of Small Estate', is for use when a decedent (the person who passed away) leaves a probate estate valued at $40,000 or less and no estate has been opened in probate court.

You can use the simplified small estate process in Missouri if the value of the entire estate, less liens and encumbrances, is $40,000 or less. ... You will have to get a bond (an insurance policy that protects the estate) in an amount equal to the value of personal property.

The Missouri small estate affidavit, also known as the 'Affidavit of Distributees for Collection of Small Estate', is for use when a decedent (the person who passed away) leaves a probate estate valued at $40,000 or less and no estate has been opened in probate court.

By definition, small estate affidavits are used when the deceased person's property is small enough that it does not need to be managed through formal, traditional probate process. In most states, there is a ceiling or maximum amount that is used to define a small estate.

The quick rule of thumb is probate is not required when the estate is small , or the property is designed to pass outside of probate. It doesn't matter if you leave a will. Let's take a closer look at each of these exceptions. Being small can have its advantages when it comes to probate.

Probate is the legal process that occurs after a person (the "decedent") dies, with or without a valid will. If the decedent dies with a valid will, then the property is distributed according to the will. If a person dies without a will, then Missouri's probate law dictates how the decedent's assets are distributed.

Cost Of The Small Estate Affidavit Procedure Because of this, the fee can range from about $1,000 to several thousand dollars. The clerk's filing fee for this procedure is usually about $350. That is generally the only cost.

$750. We charge $750 to handle the Small Estate Affidavit. This price includes the filing fees (about $250) as well as the attorneys' fees to prepare the Small Estate Affidavit and obtain the judge's signature on the Order Approving the Small Estate Affidavit.

Visit the appropriate court office. ... Check the court's limits for the estate's value. ... Obtain the correct affidavit form. ... Fill out the affidavit in full. ... Sign the affidavit. ... Obtain a death certificate.

A small estate affidavit is a substitute for a probate proceeding. You cannot open an "estate account," without having an estate. If you have an estate, you need to go to probate.

A small estate affidavit is a legal document that allows property from a will to be transferred without it having to go through the probate process. This can be advantageous for the deceased person's beneficiaries, as the probate process can sometimes be costly and time-consuming.

It will take at least six months to probate an estate. Although it often takes much longer, probating an estate will require at least six months because that is how long creditors have to file a claim against the estate.

In Missouri, after a person dies, the heirs have one year to open a probate estate if full probate is necessary. The biggest issue that arises is that Wills are not effective unless admitted to probate court within one year of the death of the owner of the property.

In Missouri, you can make a living trust to avoid probate for virtually any asset you own -- real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

But for estates in Missouri that exceed the small estate's threshold, and for which there is either no Will, or a Will (but not a Living Trust), probate will be required before an estate can be tranferred to the decedent's heirs or beneficiaries.