Mo Personal Representative Without Bond Mean
Description
How to fill out Missouri Personal Representative's Deed To Individual?
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FAQ
In Missouri, creditors have 1 year from the decedent's death to file a claim against the estate, or 6 months from the initial publication of the executor appointment notice, whichever comes earlier.
Also known as an administrator or executor bond, personal representative bonds protect the beneficiaries of an estate from misconduct and misuse of financial assets. The bond amount is set by the court and is dependent upon the size and value of the deceased's estate.
A personal representative surety bond is a type of probate bond that protects the estate and the estate's beneficiaries from financial loss in the event the personal representative commits fraud, irresponsibility, or wrongdoing. The bond ensures the personal representative will fulfill their duties.
Surety bonds generally cost 1-15% of the required bond amount.
Missouri requires that an estate be over $40,000 in order to go through a standard probate process. Otherwise, it will undergo a simplified probate process. Wills and testaments must be filed within one year of death with the Probate Division of the Circuit Court.