Dying Intestate in Missouri

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Understand what happens to your estate assets if you die without an estate plan in place.

Transcript of Dying Intestate in Missouri

Page 16: Dying Intestate in Missouri

• Everything to spouse

Spouse but no children

• Everything to children in equal shares

Children but no spouse

• Spouse gets half plus $20,000 and children get remainder

Spouse and children with that spouse

• Half to spouse and other half to children

Spouse and children from someone other than current spouse

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• Parents and siblings inherit in equal shares

No spouse, no children, but parents and siblings

• Everything to parents

No spouse, children, siblings, but parents

• Everything to siblings

No spouse, children, parents, but siblings

• half to spouse and other half to children

Spouse and children from someone other than current spouse

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• The most obvious disadvantage to dying intestate is that you give up control over the disposition of your estate assets.

Lack of control

• Dying intestate means that people or organizations that may be dear to you will receive nothing from your estate.

Limited gifting

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• The probate process often requires the sale of estate assets in order to create an equitable division of estate assets when a person dies intestate.

Loss of specific assets

• A well thought out estate plan can dramatically reduce both the amount of time it takes to probate an estate and the costs involved in the probate process. Conversely, an intestate estate typically takes longer to probate and involves additional costs that would not be necessary had the decedent died testate.

Increased probate costs/time