The government has many things it is very particular about. However, you are not likely to notice one of those things very much. That is that all property needs to be traceable to a particular owner or owners.
This is important to the government for tax purposes. However, as you do not generally get all your property at one time, it is not always that noticeable. It is not a lot of paperwork for most individual pieces of property.
When someone passes away, things change. Then there is a lot of property that needs to change ownership and there is a lot of paperwork that needs to be done at once, as U.S. News & World Report discusses in "How to Deal With the Paperwork Scramble After a Spouse Dies."
It is easy to get overwhelmed and make costly mistakes when there is that much paperwork to fill out and file in such a short period of time. Those mistakes require even more paperwork and time to fix. People who are grieving and who do not know all the things that need to be done, make these mistakes all the time.
There is a good way to avoid most mistakes. Hire an estate attorney who can help with the process. The attorney knows what needs to be done and has staff to help with the paperwork.
If you would like more estate planning information, visit our website www.MoTrustLaw.com and subscribe to our complimentary e-newsletter.
Reference: U.S. News & World Report (June 19, 2018) "How to Deal With the Paperwork Scramble After a Spouse Dies."