Section 3-1201 of the Uniform Probate Code of Massachusetts provides that if an inhabitant of the state dies leaving an estate consisting entirely of personal property the total value of which does not exceed $25,000 in value, any interested person may, after the expiration of 30 days from the death of the decedent and provided no petition for appointment of a personal representative has been filed with the court of the county in which the decedent resided, file with said court upon a form prescribed by the court a statement, verified by oath, or affirmation containing: (a) the name and residential address of the petitioner, (b) the name, residence and date of death of the deceased, (c) the relationship of the petitioner to the deceased, (d) a schedule showing every asset of the estate known to the petitioner and the estimated value of each such asset, (e) a statement that the petitioner has undertaken to act as voluntary personal representative of the estate of the deceased and will administer the same according to law, and apply the proceeds thereof in conformity with this section, (f) the names and addresses of surviving joint owners of property with the deceased, known to the petitioner, (g) the names and addresses known to the petitioner of the persons who would take under the intestacy laws of Massachusetts in the case of intestacy, and (h) the names and addresses known to the petitioner of the persons who would take under the provisions of the will, if any. The original of any will shall be filed with the above statement.
Upon presentation of such statement and the payment of any statutory fees, accompanied by a certificate of the death of the deceased, the register of probate shall, if no other probate proceeding for administration of such estate is pending in said court, issue an attested copy of a statement duly filed under this section.
Massachusetts Small Estate Affidavit for Estates under $25,000
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Key Concepts & Definitions
Small Estate Affidavit for Estates Under $25,000: A legal document used to handle the assets of a deceased person's estate that is valued at less than $25,000. It simplifies the process of asset distribution without the need for formal probate.
Real Property Claims: Claims related to real estate within an estate. Often excluded from small estate affidavits unless specific state laws allow.
Personal Property Assets: Movable assets like vehicles, bank accounts, and stocks that are typical in small estates.
Step-by-Step Guide to Submitting a Small Estate Affidavit
- Verify Eligibility: Ensure the total estate value does not exceed $25,000 and consult state-specific small estate law.
- Gather Documents: Collect the decedents death certificate, asset documentation, and list of heirs.
- Fill Out the Affidavit: Complete the affidavit form with required details about the decedent, their estate, and potential claimants.
- Submit the Affidavit: File the affidavit with the appropriate local court or agency, complying with local small estate procedures.
- Distribute Assets: Once approved, distribute the assets according to the affidavits declarations and state laws.
Risk Analysis
- Legal Disputes: Inaccurate value estimates or improper affidavit submissions could lead to legal challenges from potential heirs or creditors.
- State Law Variations: Non-compliance with specific state rules regarding small estates could invalidate the process.
- Asset Mismanagement: Misinterpretation of the types of assets that can be included may lead to financial losses or legal penalties.
FAQ
- What is the limit for small estate affidavits in the U.S.? While this content focuses on estates under $25,000, the threshold can vary by state.
- Can real property be transferred using a small estate affidavit? Usually, small estate affidavits are used for personal property, but some states allow for real property claims under specific conditions.
- Is it necessary to use a lawyer for a small estate affidavit? While not always mandatory, consulting with a legal professional like the LegalClarity team can ensure compliance with local laws and ease the estate affidavit requirements.
How to fill out Massachusetts Small Estate Affidavit For Estates Under $25,000?
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FAQ
But generally if the total value of the Estate is less than £15,000 then usually Probate will not be required. But if the deceased owned assets worth more than the threshold, you'll need to go through the Probate process.
When you use a small estate affidavit , you have to pay the decedent's bills before paying money to anyone else. For example, the decedent might have owed money to a credit card company when they died. If you use the small estate affidavit, you must give money from the estate to pay the credit card company.
Guadalupe County Small Estate Affidavit Checklist Individuals then fill out a form without reading the statute and without understanding Texas intestacy law. They pay a $261 filing fee and expect approval.
A small estate affidavit is a sworn written statement that authorizes someone to claim a decedent's assets outside of the formal probate process.
In most states, however, there is the option to use a small estate affidavit when the assets of the estate are under a certain dollar amount, which varies by state. An attorney is not required to file a small estate affidavit, although it may be helpful to consult with one prior to filing the small estate affidavit.
If the total value of all the assets you leave behind is less than a certain amount, the people who inherit your personal property -- that's anything except real estate -- may be able to skip probate entirely. The exact amount depends on state law, and varies hugely.
The Illinois small estate affidavit provides a streamlined way for an heir-at-law of a decedent to gather and distribute the assets of the estate of a person who died, provided that no other petition to open an estate in probate court has been filed and that the assets of the person who died do not exceed $100,000.
To be able to file a small estate affidavit in Texas for a loved one, when no will was executed, you must be a person who would inherit under Texas intestacy law (this is generally the spouse and children, or other close relatives if there are no spouse or children).
Simplified Probate First, if the deceased person left no real estate and all the property in the estate is worth no more than $25,000 (minus the cost of a vehicle), any interested person may offer to serve as voluntary personal representative (executor).
