Section 20.22 Compromising the Claim

• Library: Estate Administration 2014 Supp

C. (§20.22) Compromising the Claim

Section 473.277, RSMo 2000, of the Missouri Probate Code, Chapters 472–475, authorizes the compromise of debts due an estate. The apparent purpose of the compromise statute “is to provide a mechanism for expeditious compromise of claims held by an estate.” Campbell v. Campbell, 898 S.W.2d 630, 632 (Mo. App. W.D. 1995) (quoting Smith v. Snodgrass, 747 S.W.2d 743, 745 (Mo. App. S.D. 1988)). Section 473.277 provides in part: “When it appears for the best interest of the estate, the executor or administrator, on order of the court, may effect a fair and reasonable compromise with any debtor or other obligor, or extend, renew or in any manner modify the terms of any obligation owing to the estate.”

Thus, the statutory standard for determining whether the probate division may approve...