Almost every state requires small estate affidavits when the decedent does not make an effective will in his life. In this case, the family of the deceased person must go through the process of an affidavit. The successor should fulfill the requirements according to the stated laws to get the deceased person's personal property.
In Missouri, a small estate affidavit is beneficial to avoid the lengthy and drawn-out process of court procedure. This small estate affidavit Missouri helps the successor fill the affidavit form and own all the personal assets of the decedent.
Laws and Requirements in Missouri
The Missouri small estate affidavit has some required conditions that need to be met to draft that document. These requirements are listed below:
- The person getting the small estate Missouri affidavit should be a family member or named a beneficiary in the will.
- The maximum value of the assets or property should be $40,000.
- Family members can only fill out an affidavit form after 30 days of the decedent's death.
- A copy of the death certificate of the deceased person should be included.
- Before distributing the assets, family members should pay the loans against them.
- The decedent assets should distribute according to the distribution laws.
- An affidavit form should be filed in the area where the decedent used to live.
- The affidavit should be signed in the presence of a public accountant.
- Complete information includes names, addresses, contacts of all those authorized to receive some of the decedent assets.
- The estate taxes on the property or assets of the decedent should be paid.
- All documents should be submitted to the clerk's office.
- If the value of the decedent assets is more significant than $15,000, a notice must be advertised in the newspaper.
- The family members need to attach all documents regarding real and other estates along with loan values.
- The family should pay the fees of the probate division.
Judicial Administration of Small Estates in Missouri
Many states are dealing with the small estate affidavit process differently. Regardless of them, there are some special rules and policies by Missouri probate law small estate that make it unique. Some of the regulations and procedures that are followed in Missouri for small estate affidavit forms are:
- They deal with the estate assets process primarily and efficiently.
- They complete the estate affidavit procedure in 4 to 8 weeks, unlike other regular probate administration who would take 8 to 12 weeks to complete.
- A person can file the affidavit with the probate court, even after one year of the date of death.
Moreover, there will be an affiant who could be a family member and the legal heir of the assets. They could also be the one who is entitled to receive the assets in the will. The successor will request the court to establish the legal validity of small estate. The probate court will issue the request and pass the order not to start the entire estate process.
The court will accept the affiant's request and permit collecting small estate assets or properties. If the value of assets crosses $15,000, a notification will be published in the newspaper. If the asset value is less than $15,000, no advertisement is required.
How to Fill Out a Small Estate Affidavit Template
An affiant starts a small estate by filling the Missouri small estate affidavit form at the appropriate court. It should happen in the area where the decedent passed away. The court typically notifies family members to wait until the Missouri small estate procedure starts. The waiting period could be around 45 days.
We recommend an online platform that provides Missouri small estate affidavit for download and further use is CocoDoc. There is no official format for small estate affidavit forms in Missouri. Some essential or relevant points that must be included in the affidavit are:
- All personal details of the deceased person like his full name, address, or contact information.
- An attached will, if available.
- Complete asset information should be entered in the affidavit. It could be insurance policies, bank or investment accounts, cars, or any other possible assets.
- Information of the creditors on which some unpaid debts are left, including funeral expenses.
- The name and address of the individuals who are holding the property rights according to the distribution laws.
- Details of all those who are entitled to receive their part of assets and their relationship with the decedent.
Should a Small Estate Affidavit Be Notarized in Missouri?
By filling the Missouri small estate affidavit form, you are now able to sign the affidavit in the presence of the public accountant. The affiant must attach the deceased person's death certificate with the affidavit form. They can get the death certificate from the local health department at a nominal cost.
Once the affiant is done with the small estate affidavit form, the primary court process will take place for small estate administration. In this process, they will get permission from the court to take over the estate assets. The other costs, such as the court and other expenses, will be considered according to the laws.
When all the claims are satisfied, the assets will be distributed in the efficient manner mentioned in the will. If there is no will, the public court will be responsible for distributing the assets among successors.
Some states show their responsible intentions by issuing a small estate affidavit concept for their public. The state of Missouri came up with a Missouri small estate affidavit form. This form allows the deceased person's family to take over the estate that the decedent leaves. They intend to complete this process faster than other states within the country.
CocoDoc is an online platform for downloading and working on impressive templates such as Missouri small estate affidavit forms. Users can consider utilizing this tool for evaluating their situations appropriately.