Collect Data For Legal North Carolina Small Estates Forms For Free

Every state sets different rules about what qualifies as a small estate, which is defined by its dollar value. The collection of the decedent's assets may need to be worth less than $50,000 to be considered small or may be able to be worth as much as $150,000, depending on the state law and what assets are counted.

This process applies to estates with personal property valued at $20,000, or $30,000 if the surviving spouse inherits everything under state law. North Carolina also has a simplified probate process called summary administration which applies if the surviving spouse is the sole heir.

What is a ?Small Estate?? North Carolina considers ?small estates? to be any estate valued at less than $20,000.00 (or $30,000.00 if the only beneficiary is a surviving spouse). You do not have to count real property or certain retirement accounts and life insurance policies if they already include a named beneficiary.

Such property may include life insurance policies, retirement accounts, joint bank accounts, and annuities. Land and houses generally are not administered through the probate estate unless the will provides otherwise or the sale of these assets is needed to pay estate debts.

Claiming Property With a Small Estate Affidavit Sign the document. Get it notarized. Attach a copy of the will (if there is a will) File the completed affidavit with the local probate (superior) court in the North Carolina county where the deceased person lived.

A North Carolina small estate affidavit is a document that allows an individual to petition for all or a portion of a deceased person's estate. The petitioner, or affiant, can only use this affidavit if they have a lawful claim to the estate.