Get Mississippi Small Estate Affidavit For Estates Under $50,000

Mississippi offers a procedure that allows inheritors to skip probate altogether. It's called an "affidavit of successor" or "small estate affidavit." To qualify, the estate (the property you own at death) must meet these requirements: the value of the estate doesn't exceed $75,000.

In Mississippi, you can make a living trust to avoid probate for virtually any asset you own—real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

Upon your death, your will must go through probate, a court proceeding that declares the will valid or invalid. Once the court declares a will valid, it appoints an administrator for the will unless the deceased named an executor.

A Mississippi small estate affidavit presents a claim on an estate by an heir or beneficiary. This process helps claimants avoid probate court in the state of Mississippi, but can only be utilized if the estate is worth no more than $75,000.

You can use an Affidavit in Mississippi, rather than go through a full probate, only if an estate is worth less than $12,500 and there is no bank account or Will. Mississippi also allows for a summary probate procedure for estates worth less than $500.

Probate Process In Mississippi ing to Mississippi probate law, heirs must submit the death certificate, hire an attorney and file probate to receive their inheritance. For some, this process may involve a formal court proceeding to transfer the estate legally.

Mississippi Probate typically takes between 6 months and one year, possibly longer if probate assets include real estate that must be sold to pay debts.

Upon your death, your will must go through probate, a court proceeding that declares the will valid or invalid. Once the court declares a will valid, it appoints an administrator for the will unless the deceased named an executor.

A Mississippi small estate affidavit presents a claim on an estate by an heir or beneficiary. This process helps claimants avoid probate court in the state of Mississippi, but can only be utilized if the estate is worth no more than $75,000.