Notarize Legal Virginia Small Estates Forms For Free

In Virginia, a small estate affidavit can save time and money when transferring assets from the estate of someone who died. The affidavits can only be used when the estate is valued at less than $50,000 and at least 60 days have passed since the death.

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.

The appointment of an executor or administrator is not always required. If such is the situation, no formal administration is necessary. This is usually true where the estate is a small asset estate, personal property having value on the date of death of no more than $50,000.00.

Will It Work for Me or My Loved One's Estate? The person using a Virginia Small Estate Affidavit must be an heir at law ing to Virginia law. ... Heirs must wait 60 days after death before presenting this form. The estate must contain less than $50K in personal property.

Here are the state's criteria for using the small estate affidavit: The estate can't be valued at more than $50,000. At least 60 days have passed since the death. No one has applied to have an executor appointed.

Under Virginia Code Section 64.2-601, when the total estate does not exceed $50,000.00, a successor in interest, usually an heir-at-law or a beneficiary of the Will, can collect and distribute the assets without having to go through the full probate process.