Section 5.8 Recover Assets Transferred by Decedent to Pay Estate Creditors

• Library: Estate Administration 2014 Supp

E. (§5.8) Recover Assets Transferred by Decedent to Pay Estate Creditors

In 2004, the Missouri legislature substantially revised the Nonprobate Transfers Law of Missouri, §§ 461.003–461.081, RSMo 2000 and Supp. 2008. Under the prior version of § 461.300, RSMo, while the recipients of a nonprobate transfer were liable to account for a pro rata share of all property received, the time limit lapsed if an action for accounting was not brought within 18 months after the decedent’s death. The previous statute did not create any duty on the personal representative to disclose the existence of nonprobate transfers that the...