In Missouri, an estate with less than $40,000 in net assets is referred to as a "small estate." Special procedures allow it to be handled differently than a full estate administration: the Probate Court grants a family member or beneficiary, called the "affiant," authority to gather and distribute the small estate's assets.
At the Piatchek Law Firm, our attorneys regularly handle probate estates of all sizes, including small estates. A normal probate administration in Missouri involves over $40,000 in net assets, so an estate with less than $40,000 is referred to as a "small estate."
Why Does Missouri Have Special Rules for Small Estates?
If you think about it, if our Court system had to conduct a full administration for every small estate, the costs of administration might often exceed the value of the estate's assets. At the very least, the costs would make the probate process cost-prohibitive. In addition, if the Court system put the same amount of time and effort into small estates as regular estates, the system would be jam-packed.
Probate Law for Small Estates
So estates worth less than $40,000 go through the probate process differently. Special procedures and rules exist for small estates in Missouri, allowing these estates to be handled under different procedures than a full estate administration.
Who Handles a Small Estate?
Usually, a person who has a legal interest in the property of the decedent (called the "affiant") is a family member and legal heir under the probate laws of the state of Missouri or a beneficiary named in the deceased party's Will. The affiant petitions the Court to probate the small estate, and the Probate Court will eventually issue an order to not commence a full estate. Instead, they will commence a small estate and grant the affiant authority to gather and distribute the small estate's assets.
Does a Small Estate Require Published Notice?
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. For a closer look at what goes into the affidavit itself, see our overview of filing a small estate affidavit in Missouri.
How Does a Small Estate Compare to a Full Probate Administration?
| Small Estate | Regular (Typical) Probate Administration | |
|---|---|---|
| Estate value | Less than $40,000 in net assets | Typically involves assets worth at least $40,000 |
| Who is in charge | The affiant, who is granted authority to gather and distribute the assets | A Personal Representative appointed by the Court |
| When it can be filed | At any time, even more than one year after the date of death | Generally within one year from the date of death |
If the estate is over the small estate limit, please see our page on probate and estate administration, or our overview of the different types of probate estates.
What Does a Small Estate Cost?
A small estate can often be handled on a flat fee. If you are interested, request a free quote.
If you would like to learn more about small estates in Missouri, please contact the Piatchek Law Firm today at 417-882-5858. We would be happy to set up an initial consultation to discuss your case.
