Dying Intestate in Missouri

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DYING INTESTATE IN MISSOURI
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Estate Planning Goals
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For most people, the primary motivation for
creating a comprehensive estate plan is the
ability to control the division of their estate
assets when they die
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Understanding what happens to your estate when
you die in the absence of an estate plan helps
recognize the importance of creating a plan
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Testate Vs. Intestate
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Leaving behind even the most basic estate plan in
the form of a Last Will and Testament qualifies
as DYING TESTATE
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If you die without even a Will in place YOU HAVE
DIED INTESTATE
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Probating an Intestate Estate
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Most estates in Missouri must pass through
probate process
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Dying testate or intestate will determine things
such as
Type of probate process that can be used
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Probate procedures
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Who will receive estate assets
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Supervised vs. unsupervised administration
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You can authorize unsupervised administration in
your Will
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Assets That Pass Outside Probate
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IF YOU DIE INTESTATE you have lost the
opportunity to utilize strategies that would
remove assets from probate
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State and federal laws keep some assets out of
probate though, such as
Proceeds from a life insurance policy
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Assets held in a living trust
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Assets held in a retirement account such as a
401(k) account
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Funds held in an account that is designated as a
payable on death account
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State and federal laws keep some assets out of
probate though, such as
Securities, vehicles, or other property held by
an account or with a title/deed designated as a
transfer on death account
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Real property owned as tenants with rights or
survivorship or as tenants by the entirety
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Missouri Intestate Succession Laws
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Missouri intestate succession laws will
distribute your estate assets as follows
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Missouri intestate succession laws will
distribute your estate assets as follows
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Children
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The term children includes both children and
descendants of the children when discussing heirs
of an intestate estate
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If a child predeceases a parent but grandchildren
survive, the grandchildren inherit the
child/parents share
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Spousal Rights
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Spouse entitled to half estate
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If you have children with the spouse, spouse is
entitled to an additional 20,000
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Spouse also entitled to exempt assets such as
vehicle and household furnishings
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Spouse may receive support allowance for up to a
year
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Taking Against the Will
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Spousal right supersedes Will unless the parties
entered into a pre or post-nuptial agreement
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Spouse may elect to take against the Will if
entitled to more assets by law than by Will
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Spouse entitled to one-third to one-half if
elects to take against Will
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Unwanted Outcomes
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Dying intestate in Missouri frequently causes a
number of unwanted outcomes, such as
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Dying intestate in Missouri frequently causes a
number of unwanted outcomes, such as
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Joint Title
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You may be able to give another person immediate
control over the asset in the event you become
incapacitated by jointly titling the property.
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Revocable Trust
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Allows you to appoint yourself as the trustee
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Can name spouse, parent, adult child as successor
trustee
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Ability to define when successor trustee takes
over
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Provides successor trustee with immediate control
over trust assets if you become incapacitated
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Learn more about DYING INTESTATE IN MISSOURI
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