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Exempt property is personal property of the person who died, worth up to $10,000, that the Personal Representative must give to certain family members.
If you want to avoid probate, you will also need to transfer ownership of all of your property to the revocable trust or name the revocable trust as a beneficiary of your property.
In Alaska, a death must be registered with the local registrar within three days. The body may not be buried or cremated until the death certificate is filed. (Alaska Statutes § 18.50. 230(a).)
You must sign the deed and get your signature notarized, and then record (file) the deed with the district recorder's office before your death. Otherwise, it won't be valid. You can make a transfer on death deed for Alaska with WillMaker.
10 tips to avoid probate Give away property. Establish joint ownership for real estate. Joint ownership for other property. Pay-on-death financial accounts. Transfer-on-death securities. Transfer on death for motor vehicles. Transfer on death for real estate. Living trusts.
In fact, many estates can be settled without any court involvement at all. Estates valued at less than $50,000, plus $100,000 worth of motor vehicles, can often avoid the probate process in court, provided the estate contains no real property (land or a home).
The surviving spouse receives the Homestead Allowance, Family Allowance and Exempt Property in addition to the elective share. A surviving spouse may also be entitled to an additional $50,000 in certain situations. Calculating the exact amount of the elective share is very complicated.
A probate is required when a person dies and owns property that does not automatically pass to someone else, or the estate doesn't qualify to use the Affidavit for Collection of Personal Property procedure. A probate allows a Personal Representative to transfer legal title of that property to the proper persons.