Dying intestate means you do not leave a will that clarifies your wishes concerning who inherits your assets. Without a will, the state makes that decision through laws that consider your heirs and the order they inherit. Not all assets pass through probate, but those that do will be dealt with under intestacy laws.

Generally, if you die and are married but have no children, your spouse gets everything, and if you have children but no spouse, the children inherit. However, family and business situations can be complicated. What if you are estranged from your spouse? What if you own a partnership or limited liability company interest, and there are no provisions for an owner’s interest upon death? A knowledgeable wills attorney can help by explaining how the laws of intestacy in Lake St. Louis affect you.

Intestate Succession 

Under Missouri Revised Statutes § 474.010, when a married spouse dies intestate, and there are children of the union, the surviving spouse inherits an initial $20,000 and one-half of the balance. The other half is split between the children of the marriage. The more children there are, the smaller their share will be.

Families can be complicated, and the court recognizes the many ways children belong to parents and how they can inherit, including:

• Legally adopted children receive their intestate share of a parent’s estate
• Children who are not legally adopted, such as stepchildren and foster children, do not automatically receive a share
• Children the decedent placed for adoption and who were legally adopted do not qualify for a share
• Children of the decedent conceived during the marriage but not born until the parent dies will receive an intestate share
• Children born during the marriage are presumed to be the decedent’s and will receive a share
• Children born outside the marriage may receive a share if the child is acknowledged or paternity is established by the court
• Grandchildren receive a parent’s share if the parent is the child of the intestate decedent and predeceases the parent

The laws of intestacy in Lake St. Louis are complicated and confusing. The best way to provide for loved ones is to talk to an attorney and establish a tailored plan.

Unintended Consequences When There is No Will

When a spouse cheats or abandons their spouse, that spouse does not inherit, according to Mo. Rev. Stat. § 474.140. However, spouses must live separately for at least a year and not reconcile before the death of the spouse whose intestacy is at issue. This can lead to problems when the couple shared a residence and no will disinherits the spouse.

A business interest can also be inherited by an estranged spouse who knows and cares nothing about the decedent’s business, causing problems for business partners.

Assets That Do Not Pass by Intestate Succession

Many, but not all, assets pass through probate when a person dies intestate. Some assets are accumulated during a person’s lifetime, and beneficiaries are named in the accompanying document. These include the marital home held in joint tenancy. When one spouse dies, the other automatically assumes ownership without court interference.

Other assets that pass outside of probate when beneficiaries are named include:

• Assets in a living trust
• Life insurance payouts
• Payable-on-death bank accounts
• IRA, 401(k), or other retirement accounts
• Assets held in transfer-on-death accounts
• Real estate owned in joint tenancy or tenancy by the entirety with another person

Talk to an experienced attorney about the laws of intestacy in Lake St. Louis.

Speak to an Attorney About Intestacy Laws in Lake St. Louis

The best way to ensure your assets reach your chosen beneficiaries is to plan for their succession with wills, trusts, and other estate documents. Dying without a will can mean an estranged relative will inherit what you worked so hard to acquire.

You may believe you need a certain amount of assets to pass on to create a will, but you will only know for sure when you talk to a lawyer. We are familiar with laws of intestacy in Lake St. Louis and could ensure those you care about inherit your most meaningful possessions and assets. Call today to schedule a private consultation.