PURPOSE: This rule shall serve as an interpretive guideline under sections 145.090(3) and 145.090(5), RSMo (1969) in determining the homestead allowance for the surviving spouse and unmarried minor children of a decedent.

NOTE: This regulation is applicable to decedents dying on or before December 31, 1980.

1. (1) Homestead is not an allowable deduction in computing clear net market value nor is it an exemption for the surviving spouse because it is included in the twenty thousand dollar ($20,000) exemption according to section 145.090(3), RSMo (1969); however, if an unmarried minor child of the decedent receives a homestead allowance in an amount in excess of five thousand dollars ($5000), his/her exemption is the amount of the homestead allowance rather than the five thousand dollars ($5000) allowed by section 145.090(5), RSMo (1986).

AUTHORITY: sections 136.030 and 136.120, RSMo 1969.* Inheritance tax rule 61-090 was last filed on Dec. 31, 1975, effective Jan. 10, 1976. *Original authority: 136.030, RSMo 1945, amended 1947, 1949, 1965 and 136.120, RSMo 1945.