Motor vehicles, boats, motorcycles, etc.Tangible Personal Property (anything that can be physically “touched”) Banks Accounts (checking, savings, etc.).To calculate the total monetary amount of an estate, start by adding up all the items that contribute positively towards the total assets. The general process for filing a small estate affidavit after the death of a family member is the following: 1.
Almost every state has considerably varying laws regarding the time that must pass (after the decedent has passed away) before signing, differing maximum estate values, and required conditions that specify when a small estate affidavit can and cannot be used. The Small Estate Affidavit can be a confusing form to use. Includes land, assets, and other possessions an individual owned. If an affiant is not specified in a will – the decedent’s spouse or children can often file.ĭecedent – The family member that passed away, leaving their assets to be distributed.ĭistributee / Heir / Successor – An individual authorized to collect a portion (or all) of the decedent’s personal property if a will was not left behind (intestate).Įstate – The net worth of a person.
Common TermsĪffiant – The individual filing the affidavit.
The process of notarization is used to prove the legality of an affiant’s signatures and confirms that the signer(s) had a full understanding of what they were signing, and why. Whether or not an affidavit is required to be notarized by an official Notary Public is dependent on the applicable state law. Due to being such a time-consuming process, heirs or distributees often elect for using an affidavit to collect the belongings of the family member that passed away. A small estate affidavit is a form used for circumventing probate, which is the process in which a will is officially distributed in a court of law.
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