Section 5.12 General Rule
Library | Estate Administration 2014 Supp |
B. (§5.12) General Rule
A supervised personal representative has no authority to continue the business of a decedent absent a court order or specific direction or power conferred on the personal representative under the decedent’s will. To the contrary, a personal representative has an affirmative duty to close out a decedent’s business when it is “unprofitable or burdensome.” In re Estate of Mills, 162 S.W.2d 807, 812 (Mo. 1942).
The statutory powers granted an independent personal representative, on the other hand, include the authority to “[c]ontinue any unincorporated business or venture in which the decedent was engaged at the time of...
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- Section 5.1 General Rule
- Section 5.2 Personal Property
- Section 5.3 Real Property
- Section 5.4 Bank Accounts
- Section 5.5 Safe Deposit Box
- Section 5.6 Take Possession of Personal Property
- Section 5.7 Take Possession of Real Property Upon Court Order
- Section 5.8 Recover Assets Transferred by Decedent to Pay Estate Creditors
- Section 5.9 Apply for Social Security and Veterans’ Benefits
- Section 5.10 Abandon Valueless Property
- Section 5.11 In General
- Section 5.12 General Rule
- Section 5.13 Statutory Authority
- Section 5.14 Liability of the Personal Representative
- Section 5.15 Particulars to Be Covered in Petition and Order
- Section 5.16 Notice
- Section 5.17 Notice of Hearing
- Section 5.18 Petition for Authority to Continue Operation of Decedent’s Business—Supervised Administration
- Section 5.19 Judgment to Continue Business—Supervised Administration
- Section 5.20 Petition for Authority of Independent Personal Representative to Continue Operation of Decedent’s Business
- Section 5.21 In General
- Section 5.22 Petition for Specific Performance
- Section 5.23 Notice
- Section 5.24 Authority Granted by Order or Provisions of Will
- Section 5.25 Options as Contracts of Sale
- Section 5.26 Statutory Provisions Relating to Independent Administration
- Section 5.27 Supervised Administration
- Section 5.28 Independent Administration
- Section 5.29 Determining Title to Property
- Section 5.30 Parties, Pleadings, Evidence, and Judgment
- Section 5.31 Investment of Assets
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