Missouri Nonprobate Transfers Law
Explanation and Instructions Document
This detailed document will guide you through the step-by-step process in applying the provisions of the Missouri Nonprobate Transfers Law. Specifically, this document will provide you with an explanation of the applicable Missouri laws and a detailed set of instructions to guide you through the steps and precedures required to retitle all of your appropriate assets into the "TOD" (transfer on death) and/or "POD" (payable on death) form to avoid probate. You can easily avoid probate by following the instructions as set forth in this valuable document.
The cost for such document is $75.00. Please print this page with the printer option on your computer and mail this page with a personal check or cashier's check (made payable to "Michael Denk") to Missouri Estate Planning, LLC, P.O. Box 6464, Chesterfield, Missouri 63006.
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By signing above you agree this form will serve as the written agreement between yourself and Michael J. Denk, Attorney at Law, to provide you with one (1) Missouri Nonprobate Transfers Law Explanation document, per your request and information as set forth on this form. The cost is $75.00 per document. You understand and agree the implementation of such nonprobate transfer designations and the retitling of your assets is your responsibility. You understand and agree no legal advice or services are being provided to you and you should consult with an Attorney of your choice for such advice. You hereby release Michael J. Denk and Missouri Estate Planning, LLC from any and all claims relating to your use of the information in such document. If you have any questions or concerns please contact us prior to signing and returning this form. Thank you
The Missouri NonProbate Transfers Law of 1990 provides an alternative planning technique to implementing a Revocable Living Trust, a Last Will & Testament, or joint tenancy. This law basically states you can retitle your property (appropriate assets) into a "transfer on death" (TOD) or "payable on death" (POD) form and thereby avoid the probate process. You may retitle your bank accounts, automobile titles, investment accounts, and real estate in such form. Chapter 461 of the Revised Statutues of Missouri sets forth the provisions of the Missouri Nonprobate Transfers Law.
Some of the advantages of implementing the provisions of the Missouri Nonprobate Transfers Law:
(i) Owner retains legal title and has full control over property during lifetime.
(ii) Property is distributed upon death without proceeding through probate.
(iii) Transfer cannot be revoked by Will.
(iv) Full "step-up" in basis of property possible and no gift tax implications.
(v) Property is not subject to claims of beneficiary's creditors during owner's lifetime.