Payments of claims and statutory allowances in order of classification
When someone dies, the person in charge of their estate pays off debts and other allowed costs in a set order. Higher-ranked debts get paid first. A lower-ranked debt gets nothing until all higher-ranked debts are fully paid. If there is not enough money to pay everyone in the same group, each person in that group gets a share based on how much they are owed. Exempt property, family allowance, and homestead allowance are paid first among themselves, in that order.
473.430. Payments of and in of — proportional payment — . — All claims and statutory allowances against an shall be paid by the , as far as he has , in the order specified in section 473.397; and no or of one class shall be paid until all previous classes are satisfied or it appears that there are sufficient assets to satisfy all previous classes. If there are not sufficient assets to pay the whole of any one class, claims shall be paid in proportion to their amounts. , and have priority for payment, in the order listed, among themselves.
(RSMo 1939 § 207, A.L. 1955 p. 385 § 160, A.L. 1980 S.B. 637)
Prior revisions: 1929 § 208; 1919 § 207; 1909 § 216
Effective 1-01-81
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Related Missouri laws
Compromise of claims against estate
RSMo 473.427
Payment of claims not required prior to six months after first publication
RSMo 473.433
Claim of personal representative
RSMo 473.423
Extension or renewal of encumbrances of assets
RSMo 473.437
Enforcement of judgment, attachment or execution liens which attached prior to decedent's death
RSMo 473.440
Proceedings where real estate has been sold under junior judgment
RSMo 473.443
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.