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For instance, in Connecticut, if the decedent's solely-owned assets include no real property and are valued at less than $40,000 ? which is the state's ?small estates limit? ? then the estate can be settled without full probate, under a much shorter and more simplified process.
In Connecticut, the following assets are subject to probate: Solely-owned property: Any asset that was solely owned by the deceased person with no designated beneficiary is subject to probate. This could include bank accounts, cars, houses, personal belongings, and business interests.
1) A petitioner filing a PC-212, Affidavit in Lieu of Probate of Will/Administration, may use this form to request an order of distribution if (a) assets exceed expenses and claims or (b) a person who paid expenses or claims waives reimbursement for payment of the expense or claim.
Do All Connecticut Estates Have to Go Through Probate? Not all estates must go through the formal probate process in Connecticut. If an estate is worth less than $40,000, an affidavit from the court is all that is necessary to transfer the ownership to the heirs.
7 Steps for Settling an Estate in Connecticut Prepare and file the Petition/Administration or Probate of Will. ... Collect the Decedent's Property. ... Prepare and file the Inventory. ... Pay Claims. ... Prepare and file tax returns. ... Prepare and file a Decedent's Estate Administration Account or Financial Report.
Full "probate" is ONLY required by law if the person who dies, with or without a will, (1) owned real estate (not just a life use) that does not pass by the deed to the "surviving" joint owner, OR (2) owned $40,000 or more of other assets that also don't pass by beneficiary or joint ownership to another person.
In Connecticut, you can expect it to take a minimum or about six months to probate even a relatively simple estate if that estate is required to go through formal probate. Creditors have three months from the date notice was provided within which to file claims against the estate.
How much does an estate have to be worth to go to probate in Connecticut? In the state of Connecticut, the minimum value of the deceased's assets is $40,000.