Want to avoid probate? The answer should be yes! Here’s a summary of what property is subject to probate administration under Missouri law.
In Missouri, property not subject to probate administration includes:
1. any personal or real property owned by a Trust;
2. property which the decedent owned as joint tenants with right of survivorship or as tenancy by the entireties;
3. property or accounts designated as payable on death (POD) or transfer on death (TOD).
Property subject to probate administration includes:
1. any bank account solely in the name of the decedent (which does not have a beneficiary designation on the account);
2. real estate exclusively owned by the decedent;
3. real estate co-owned by the decedent, which does not hold a “right of survivorship;”
4. stocks or bonds in the decedent’s name;
5. personal property (including automobiles) exclusively owned or registered to the decedent.