Estate Planning Part 1: The Probate Process
You can't take it with you, but you can leave it behind for heirs and your surviving spouse. Unfortunately, if you do not have your affairs in order, leaving it to your loved ones is easier said than done. If you are not currently familiar with probate proceedings in Missouri , the lawyers at the Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C. would encourage you to take some time to educate yourself on the process and why it is so important to set up a formal estate plan. Missouri Probate - The Explanation Essentially, the Missouri probate process ensures that all the decedent's outstanding debts are repaid and that the remaining assets are distributed among the surviving family members. If the decedent (the deceased) had an appropriate estate plan established, the probate process could be skipped and the assets could go straight to the heirs. If the decedent did not have a formal estate plan set up, however, then his/her estate will likely be pass...