Filing Small Estates
Small estate affidavits can be a major cost-savings for the uncomplicated estate that falls under the dollar limits. Note that some estates that are eligible may still want to pursue a full probate, or may have to, depending on the circumstances.
A small estate affidavit may be filed if:
- $75,000 or less of the fair market value of the estate is from personal property, and
- $200,000 or less of the fair market value of the estate is from real property.
The dollar limits do not include any property that transfers without probate or the small estate process (such as bank accounts or real property held with right of survivorship).