Mo Personal Representative Without Probate
Description
How to fill out Missouri Personal Representative's Deed To Individual?
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FAQ
A personal representative cannot resign without the probate court's consent, and then only when a successor personal representative is appointed.
Many problems can arise if real estate does not go through probate: if real estate remains stuck in the name of a dead person, and there is a mortgage on the property, the mortgage company could foreclose. If no one pays the real estate taxes, the county may foreclose after three years.
Probate is necessary when a person dies with property in his or her name or with rights to receive property. Examples of having property at death include: Bank accounts in the decedent's name with no co-owner and no beneficiary designation. A home or land that is owned by the decedent individually.
The court will consider whether or not the resignation is in the estate's best interest before granting or denying it. If the request is granted, the court once again looks for a successor executor. If there isn't one, they will follow the established probate laws in their state.
Estate Planning Tools You Can Use to Avoid Probate Revocable Living Trusts. ... Beneficiary Deeds. ... Transfer-on-Death (TOD) Designations. ... Payable-on-Death (POD) Designations. ... Beneficiary Bill of Sale / Beneficiary Transfer Instrument. ... Joint Titling of Property.