Probate, the legal procedure following someone’s passing, varies from state to state. It’s crucial to understand the specifics of probate law in Missouri.
Insights into Probate in Missouri
In Missouri, your estate undergoes probate if you possess real property (such as a house, land, or mineral interests) or if your total assets exceed $40,000. The probate period lasts a minimum of six months and can incur costs and feel that exceed 5% of the estate’s value.
Most estates meet the criteria for probate, diverting funds away from your beneficiaries to cover court costs, legal fees, and expenses.
Strategize with Estate Planning to Bypass Probate
Crafting a comprehensive Estate Plan is key to potentially sidestepping the probate process entirely. Take a proactive step by scheduling your initial consultation to explore how your estate can avoid probate, ensuring that your wealth goes directly to your loved ones.