Probate Alternatives: Small Estate Affidavit
Sometimes clients come in and need to administer a modest-sized estate planning with no real property. Often this involves a single bank account titled in decedent’s name rather than the client’s revocable trust. If the decedent held no real property needing to pass through probate and the total value of any personal property of the decedent that passes through probate does not exceed $100,000.00, the professionals at Lyons Sullivan lawyers can secure that property for the appropriate claimant by means of a statutory Small Estate Affidavit. There is a forty day waiting period after decedent’s date of death. We are practiced at explaining the procedure to reluctant employees of financial institutions and other custodians of property.