What is a small estate affidavit?
A small estate affidavit is a legal document that is used in Probate Law in Washington to establish the legitimate ownership of a decedent’s property, especially when the estate is considered too small to qualify for formal probate proceedings. This document is sometimes referred to as a “short-form probate”. In order to use a small estate affidavit, the decedent’s estate must have a gross value under $100,000.00, excluding the value of the home owned by the decedent as their primary place of residence. It is important to note that different states may have different thresholds for small estates, so it is important to check with an attorney or estate planner to ensure eligibility. Once the estate has been determined to be eligible, a small estate affidavit is prepared and signed by each heir of the decedent. The affidavit affirms that the affiant has right and title to the decedent’s property. It typically includes a description of the property, its estimated value, and the name and address of each heir. Once the affidavit is completed, it is submitted to the court for review. Once it is accepted, the court issues an order transferring the decedent’s property to the proper heirs. The small estate affidavit is an important option for those managing the estate of a loved one, as it eliminates the need for an expensive and potentially lengthy probate process. However, it’s important to be aware of the local requirements and any potential risks. Consulting a probate lawyer before beginning this process is always recommended.
Related FAQs
What is a living trust?What are the duties of a successor trustee?
What is a lapsed beneficiary?
What do I need to do to open probate?
What is probate avoidance?
Can a will be revoked?
What happens when someone dies without a will?
What is an affidavit?
What are the requirements for a valid will?
What is a grant of probate?
Related Blog Posts
What You Should Know About Probate Law - July 31, 2023Probate Law: A Comprehensive Guide - August 7, 2023
Common Issues in Probate Litigation - August 14, 2023
The Benefits of Hiring a Probate Lawyer - August 21, 2023
What is Intestate Succession? - August 28, 2023