Section 5.15 Particulars to Be Covered in Petition and Order

• Library: Estate Administration 2014 Supp

E. (§5.15) Particulars to Be Covered in Petition and Order

As described in §5.13 above, § 473.300, RSMo 2000, grants to the court the authority to order a business continued by the personal representative as a sole proprietorship, in corporate form, or as a partnership.

The petition filed and court order sought by the personal representative should state in detail which assets of the estate are to be charged with liability if a business is continued. Other factors considered by the court include the operating capital required for the business, the current and projected solvency of the business and the estate, and the number of potential distributees of the estate and their various interests in estate assets. Consideration should be given to...