Q: If I have a will when I pass away, will my beneficiaries have to go to probate court?

A: In Missouri, having a will does not allow your heirs to avoid probate court. However, there are strategies to minimize the probate process or bypass it altogether for certain assets. Here are some considerations specific to Missouri:

Small Estate Affidavit: Missouri offers a simplified probate process for small estates. If the total value of the probate assets is below a certain threshold ($40,000), heirs may be able to use a Small Estate Affidavit to transfer assets without going through full probate. This is usually utilized for assets like bank accounts, vehicles, and personal property.

Revocable Living Trust: Establishing a revocable living trust is the best way to avoid probate. It allows you to transfer assets into the trust during your lifetime. When you die, these assets can pass to beneficiaries named in the trust without going through probate.

Beneficiary Designations: Assets with designated beneficiaries, such as life insurance policies, retirement accounts, and payable-on-death (POD) or transfer-on-death (TOD) accounts, typically bypass probate and go directly to the named beneficiaries.

Joint Ownership: Assets held in joint tenancy with rights of survivorship or as tenants by the entirety pass directly to the surviving joint owner(s) outside of probate.

Real Estate Transfer on Death Deed: Missouri allows for Transfer on Death Deeds for real estate. This legal instrument is called a Beneficiary Deed and it allows real property to pass directly to named beneficiaries upon the owner's death, bypassing probate.

Having a will is crucial to explain your wishes regarding estate distribution. However, combining it with other estate planning tools, like a trust, is the best way to avoid or minimize probate court involvement all together.