We all know that death is inevitable and every one has to go through it no matter whether you are rich or poor. But after the departure of the soul there are some matters that needs settlement.
The Affidavit of Small Estate or Small Estate Affidavit is a type of an affidavit that helps in transferring will without the need of going through the hectic procedure. The Small Estate Affidavit can be beneficial to the deceased person relatives. This type of affidavit is very useful and can help get rid of the probate process that not only is expensive but time consuming as well.
With the help of this affidavit, you can speed up the settlement procedure of various assets. However, this only applies to the person that died without giving off his will and also the property value should be less than $150,000. The small estate affidavit needs the signature of an affiant in order for it to be used in the court. Once the required documents are provided, the court shall begin transferring the property to the respectable heirs.
Where Affidavit of Small Estate Can Be Used?
Well, the usage of this affidavit is only limited to when a person dies and their property value is so little that it don’t require the attention of higher management or in simple words probate procedure. Different states have different values that are used to define what a small estate is. The small estate value starts from $100,000 to $150,000. If the property value goes over the specified limit then it will have to go through the lengthy probate procedure.
How To Get Small Estate Affidavit?
The procedure of obtaining a small estate affidavit is pretty easy. There are two options to get this affidavit form, one is by going to the court clerk and getting it by hand and the other one is simply downloading it from your state’s official website. However, certain states charge a small fee for the form. Also, make sure that the property value is less than the jurisdiction limits. There’s one more thing that you should keep in mind and that is to get the form from the state where the property is situated because they contain different statements for different states across the country. The Affidavit of Small Estate should be filled properly and signed by an affiant and notarized by a notary.
Submitting Affidavit of Small Estate
When you submit your affidavit of small estate, it can take anywhere between a week or two at most. Certain states in the US give high priority to these type of cases. The time varies from one state to another because of the nature of different juridicial process. However, the submission time can be cut in half if you get the form from a local court. If not, then be prepared for longer wait times because you will first have to get it from a legal press.