Missouri Renunciation-Consent (Small Estate) is a form that is used when an individual does not wish to act as the executor of a will or trust in the state of Missouri. This form is most commonly used when the estate is small and does not require a formal probate process. The form allows the individual to renounce their interest in the estate, while also providing consent to the court for the distribution of assets according to the wishes of the deceased. There are two types of Missouri Renunciation-Consent (Small Estate) forms. The first is a "Renunciation of Right to Appointment as Executor of Estate" form, which allows the individual to formally renounce their right to serve as executor of the small estate. The second is a "Consent to Distribution of Assets" form, which provides formal consent to the court to distribute the assets of the estate without a formal probate process.
Missouri Renunciation-Consent (Small Estate)
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FAQ
A Missouri small estate affidavit enables certain property of a decedent (person who has died), to pass to the decedent's heirs or successors without going through the probate process.
Missouri probate follows this general flow: contact the court, get appointed as personal representative, submit will if it exists, inventory and submit valuations of all relevant assets, have the court and beneficiaries approve it, and then distribute the assets to beneficiaries.
You can use a small estate proceeding in Missouri if: the value of the entire estate (all of the property the deceased person left behind) does not exceed $40,000. 30 days have passed since the death, and. no application for letters testamentary or administration has been granted or is pending.
In Missouri, a small estate comprises property valued at $40,000 or less (after debts are paid) when the owner passes on.
In contrast, regular probate takes no less than six months, often taking a year or more to complete. Unless the value of the small estate's assets is less than $15,000, publication in the newspaper is required, which your attorney can take care of.
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.
Small estates that have over $15,000 in assets require notice to be published in the paper, while estates with less than $15,000 require no such notice. Additionally, a small estate affidavit can be filed with a Missouri probate court at any time, even more than one year after the date of death.
Most estates in Missouri will need to go through probate. However, there is a simplified procedure for small estates. Estates valued at $40,000 or less may qualify. You must submit a written request for the simplified procedure and take responsibility for all debts to be paid and other inheritors.