Legal Question in Wills and Trusts in Missouri

Re: Will

If you keep your house in your Will only, it will have to pass through probate administration and fees will be charged based upon its value. To keep it from passing through probate in Missouri you will need to do what is called a beneficiary deed. This allows you to name the person(s) you want the real property to go to upon your death. It takes effect only upon your death and only if you still own the property. During your lifetime you still have the power to sell, mortgage, etc. You should consult with an attorney to review all of your assets to make sure this is the best way to go and to make sure you minimize the assets that have to pass through probate administration.

Re: Will

I would suggest that you do not want to include the real estate in the Will at all. If you do, the real estate may very well have to be included in any probate estate. One better solution would be for the owner(s) to do a Beneficiary Deed naming the people who the owner(s) want to have the property. Care should be taken in describing the type of tenancy the beneficiaries will take. In this way, the owner(s) can sell the real estate, mortgage it, rent it out, or use it in any way they choose while they are alive and the property passes to the intended beneficiaries at the death of the last owner. Most attorneys will be able to help you with this for a modest fee. Good luck.