[MO] How can someone without a will pass real estate and other assets to a relative without probate?

Lexi, Chatbot

I'm sorry to hear about your brother's situation; that must be very difficult for you. Have you discussed his wishes regarding his assets with him?

Lexi, Chatbot

Are you aware of the specific assets that you would like to include in the beneficiary deed?

Lexi, Chatbot

Is there anything else the Estate Lawyer should know before I connect you? Rest assured they'll be able to help with your beneficiary deed.

TJ, Esq.

Hello! I'm an attorney with over 20 years of experience. Thanks so much for the opportunity to assist you!

TJ, Esq.

A beneficiary deed is a good option for your brother to transfer assets directly to your son outside of probate, and it takes effect right away. The process varies by state, so I need to know where he's located to give you the specifics on what documents are needed and how to file them. Does he own real estate, or are we talking about other types of assets like bank accounts or vehicles? What state is he in? Thanks so much for trusting me with this.

TJ, Esq.

Here's the thing about beneficiary deeds in Missouri: they work well for real estate, but you'll need different approaches for the other assets. For the real estate, your brother can execute a beneficiary deed that names your son as the beneficiary under Missouri Revised Statutes Section 461.025. It takes effect when he passes, and it bypasses probate entirely, which is a big advantage. The deed needs to be notarized and recorded in Benton County.

For the truck, boat, and motorcycle, Missouri allows beneficiary designations on vehicle titles through the Department of Revenue (Section 301.681 for motor vehicles and Section 306.461 for boats and outboard motors), but the process varies by asset type. The life insurance likely already has a beneficiary designation form on file, so that's probably the easiest one to update if needed.

The bank accounts and investments are trickier. Some banks allow "payable on death" accounts, which is similar to a beneficiary deed and is recognized under Missouri's Nonprobate Transfers Law, Sections 461.003 to 461.081. For the brokerage investments, his financial advisor can help set up beneficiary designations, which is probably the fastest route since they're already involved.

The good news is that most of these don't require a will or trust if he sets up the beneficiary designations properly. When you see him, it would help to know whether he's already named beneficiaries on the life insurance and investment accounts, or if those still need to be set up.