A small estate affidavit form can help speed up the process when there is no last will and testament of the individual that died. The estate must be smaller than $150,000 in assets in order to use this form. Selling an estate can be a long and drawn out process. This form will help to guide an estate settlement through probate court.
How it Works
When a person dies, their property become property of their estate. The estate consists of all the property they owned at the time of their death. Estate property is passed on to beneficiaries through a legal process in probate court. A beneficiary generally is someone who receives money or property from the estate. Depending on the size of the estate, the process can be expensive and take a lot of time. The length of the process can also be drawn out if it is contested.
Use a small estate affidavit form if:
1. You were named the executor or personal representative of an estate that qualifies as small estate (less than $150,000) or
2. If the close relative or spouse died without a will and you would like to finalize their estate matters.
3. There is no property in the estate.
4. There are no unpaid claims within the estate.
5. A probate court has not issued any letters of office.
This form is a great way to resolve final estate matters for someone deceased. The small estate limit will vary from state to state and can be as low as $5,000. Be sure that you verify your particular state’s small estate guidelines before you use this legal document. Residents of New Hampshire, Kentucky and Georgia cannot use this form.