Missouri Revised Statutes
Chapter 473
Probate Code--Administration of Decedents' Estates
←473.783
Section 473.787.1
473.793→
August 28, 2015
Duties of personal representative in independent administration--attorney required, when.
473.787. 1. While letters testamentary or of administration authorizing
independent administration of the estate are in force, the personal
representative therein named is an independent personal representative and his
administration of the estate is an independent administration, and all
actions taken on or after August 28, 1996, shall be in accordance with the
provisions of the Missouri prudent investor act, sections 469.900 to 469.913.
2. An independent personal representative shall proceed expeditiously
with the settlement and distribution of the estate in accordance with the
applicable provisions of this chapter and, except as otherwise specified by
the provisions of sections 473.780 to 473.843, shall do so without
adjudication, order, or direction of the court, but he may invoke the
jurisdiction of the court, in proceedings authorized by this code, to resolve
questions concerning the estate or its administration or distribution.
3. Unless he is a member in good standing of the Missouri bar, an
independent personal representative, because he owes a fiduciary duty to the
persons interested in the estate, shall secure the advice and services of an
attorney, who is not a salaried employee of the personal representative, on
legal questions arising in connection with:
(1) The application for and issuance of letters testamentary or of
administration;
(2) The collection, investment and preservation of assets;
(3) The inventory;
(4) The allowance, disallowance, compromise and payment of claims;
(5) The making of tax returns;
(6) The transfer and encumbrance of property of the estate;
(7) The interpretation of the will and of the intestacy laws;
(8) The scheme and making of distribution; and
(9) The closing of the estate.
(L. 1980 S.B. 637, A.L. 1996 H.B. 1432, A.L. 2006 S.B. 892)
1996
1996
473.787. 1. While letters testamentary or of administration
authorizing independent administration of the estate are in force, the
personal representative therein named is an independent personal
representative and his administration of the estate is an independent
administration, and all actions taken on or after August 28, 1996, shall be
in accordance with the provisions of the Missouri prudent investor act,
sections 456.900 to* 456.913, RSMo.
2. An independent personal representative shall proceed expeditiously
with the settlement and distribution of the estate in accordance with the
applicable provisions of this chapter and, except as otherwise specified by
the provisions of sections 473.780 to 473.843, shall do so without
adjudication, order, or direction of the court, but he may invoke the
jurisdiction of the court, in proceedings authorized by this code, to
resolve questions concerning the estate or its administration or
distribution.
3. Unless he is a member in good standing of the Missouri bar, an
independent personal representative, because he owes a fiduciary duty to
the persons interested in the estate, shall secure the advice and services
of an attorney, who is not a salaried employee of the personal
representative, on legal questions arising in connection with:
(1) The application for and issuance of letters testamentary or of
administration;
(2) The collection, investment and preservation of assets;
(3) The inventory;
(4) The allowance, disallowance, compromise and payment of claims;
(5) The making of tax returns;
(6) The transfer and encumbrance of property of the estate;
(7) The interpretation of the will and of the intestacy laws;
(8) The scheme and making of distribution; and
(9) The closing of the estate.
Top
Missouri General Assembly
Copyright © Missouri Legislature, all rights reserved.
