Sunnyvale California Affidavit for Collection of Personal Property - Probate Code Section 13100 - Small Estates under $184,500

• Category: California Probate - Small Estates
• State: California
• City: Sunnyvale
• Control #: CA-ET10
• Format: Word; PDF; Rich Text

Description

Pursuant to California statute, if the value of an estate does not exceed $150,000 (in 2022, $184,500), and forty days have elapsed since the death of the decedent, an interested party may demand payment on any debts owed to the decedent through a small estate affidavit. The Sunnyvale California Affidavit for Collection of Personal Property, governed by Probate Code Section 13100, is a legal document used for small estates valued under $166,250. This affidavit allows the transfer of assets to the rightful beneficiaries without the need for formal probate proceedings, making it an efficient and cost-effective option. Types of Sunnyvale California Affidavit for Collection of Personal Property — Probate Code Section 1310— - Small Estates under $166,250: 1. Standard Affidavit: The standard affidavit is used when the total value of the decedent's assets, excluding real estate, is under $166,250. This affidavit simplifies the process and enables the transfer of personal property such as bank accounts, vehicles, stocks, and personal belongings. It is crucial to accurately list and describe each asset included in the affidavit. 2. Real Estate Exclusion Affidavit: In situations where the estate's total value exceeds $166,250 due to the inclusion of real estate, a Real Estate Exclusion Affidavit is necessary. This affidavit excludes the value of the real estate and only considers the personal property and assets below the specified threshold. The inclusion of a sworn statement regarding ownership and market value of the real estate is required. In both types of affidavits, certain requirements must be met: — The decedent must have passed away in California. — The total value of the estate must be under $166,250. — At least 40 days have elapsed since the decedent's death. — No petition for the appointment of a personal representative has been filed. — No formal administration or probate proceedings have commenced. It is important to note that although the Sunnyvale California Affidavit for Collection of Personal Property offers a simplified process for estate administration in small estates, it's essential to follow the correct procedures and fulfill all legal obligations to ensure proper transfer of assets. Seeking legal advice from an attorney experienced in probate matters can help navigate this process smoothly, ensuring compliance with all applicable laws and regulations. Keywords: Sunnyvale California, Affidavit for Collection of Personal Property, Probate Code 13100, small estates, under $166,250, legal document, probate proceedings, assets, beneficiaries, efficiency, cost-effective, standard affidavit, real estate exclusion affidavit, requirements, decedent, California, personal property, estate administration, legal advice, attorney, compliance, laws, regulations.

The Sunnyvale California Affidavit for Collection of Personal Property, governed by Probate Code Section 13100, is a legal document used for small estates valued under $166,250. This affidavit allows the transfer of assets to the rightful beneficiaries without the need for formal probate proceedings, making it an efficient and cost-effective option. Types of Sunnyvale California Affidavit for Collection of Personal Property — Probate Code Section 1310— - Small Estates under $166,250: 1. Standard Affidavit: The standard affidavit is used when the total value of the decedent's assets, excluding real estate, is under $166,250. This affidavit simplifies the process and enables the transfer of personal property such as bank accounts, vehicles, stocks, and personal belongings. It is crucial to accurately list and describe each asset included in the affidavit. 2. Real Estate Exclusion Affidavit: In situations where the estate's total value exceeds $166,250 due to the inclusion of real estate, a Real Estate Exclusion Affidavit is necessary. This affidavit excludes the value of the real estate and only considers the personal property and assets below the specified threshold. The inclusion of a sworn statement regarding ownership and market value of the real estate is required. In both types of affidavits, certain requirements must be met: — The decedent must have passed away in California. — The total value of the estate must be under $166,250. — At least 40 days have elapsed since the decedent's death. — No petition for the appointment of a personal representative has been filed. — No formal administration or probate proceedings have commenced. It is important to note that although the Sunnyvale California Affidavit for Collection of Personal Property offers a simplified process for estate administration in small estates, it's essential to follow the correct procedures and fulfill all legal obligations to ensure proper transfer of assets. Seeking legal advice from an attorney experienced in probate matters can help navigate this process smoothly, ensuring compliance with all applicable laws and regulations. Keywords: Sunnyvale California, Affidavit for Collection of Personal Property, Probate Code 13100, small estates, under $166,250, legal document, probate proceedings, assets, beneficiaries, efficiency, cost-effective, standard affidavit, real estate exclusion affidavit, requirements, decedent, California, personal property, estate administration, legal advice, attorney, compliance, laws, regulations.

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