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A small estate affidavit is not filed with the court. Instead, the decedent's successor fills out the form, signs it in front of a notary, and gives it to any third parties, such as the bank.
Property that is held in a revocable trust will avoid probate. However, it is not sufficient to just have a revocable trust. The deceased person's property must be held in it when she dies. Once a person signs a revocable trust, she should immediately transfer her property to the trust.
Cost Of The Small Estate Affidavit Procedure The clerk's filing fee for this procedure is usually about $475 in Texas. That is generally the only court expense.
Probate is required if: the estate includes real property (land, house, condominium, mineral rights) of any value, and/or. the estate has assets (other than land, and not including cars) whose net worth is more than $100,000.
Informal probate is a type of probate process that does not take the entire matter to court. Unlike a formal probate process, there are minimal involvements of the court such as the absence of court hearings or court order.
Probate is required if: the estate includes real property (land, house, condominium, mineral rights) of any value, and/or. the estate has assets (other than land, and not including cars) whose net worth is more than $100,000.
The probate process begins when the decedent passes away. A petition is filed with the proper court to have probate opened. The next step is to identify the executor or personal representative of the decedent's estate. If there is a Will, an executor will likely be named in it.
Closing. When the notice to creditors period has run, creditors' claims have been paid, and the estate has been fully administered, the personal representative can close the estate by filing the necessary documents with the probate court and by distributing the estate property to the appropriate heirs or beneficiaries.