Small Estate Affidavit
When you die, any assets that don't have a designated beneficiary are subject to probate. Probate is the process wherein a judge supervises the settling of an estate. The process is designed to respect the deceased's wishes and prevent fraud, but it takes several months to years for the court to issue the final distribution order, which is why so many people talk about ways to avoid probate.
One such way is the Small Estate Affidavit, commonly
known as an Affidavit for Collection of Personal Property. However, certain qualifications must be met before this affidavit can be used by the deceased's heirs:
1) The deceased's estate can't include real estate
2) The deceased's assets must total $166,250 or less (if death occurred before April 1, 2022) or $184,500 or less (if death occurred on or after April 1, 2022)
If the deceased's estate meets these qualifications, the person(s) entitled to the property can use this affidavit (in conjunction with any other required letters and forms) to transfer any personal property to the successor(s).
If this situation applies to you, and you're struggling to fill out the necessary forms, Dingler Document Assistance can help.