Settling Smaller Estates: A Simpler Procedure

Probate is the legal process in which the estate of a deceased person is settled, so that all outstanding debts are paid and properties are distributed to the heirs. It is not uncommon for probate to take two years or longer. The only time the process may be quick, is when the gross value of the estate is relatively small—$100,000 or less, for example, depending on the state. In those cases, each state has some type of expedited probate procedure that may take just a few months to complete, and is generally inexpensive.

Expedited Probate Process

Florida—Summary Administration

The expedited probate process in Florida is called Summary Administration. It may be used when the entire estate does not exceed $75,000, or if the decedent has been dead for more than two years. Note that the $75,000 does not include the value of the homestead, so with a house, you could have a rather sizable estate and still go through a simplified process. The decedent need not have had a Will in order to use this expedited procedure.

In Florida, Summary Administration has five basic steps:

1. The beneficiaries sign a petition prepared by an attorney asking the court to admit the Last Will (if there is one). In the petition, the beneficiaries swear under oath that they know of no later Will, that they know of no debts owed by the decedent, and that the assets listed in the petition are the only ones they know of that belonged to the decedent. Finally, the petition sets forth how the assets should be divided.
2. The attorney files the Petition for Summary Administration along with a copy of the paid funeral bill and an affidavit of a long-time acquaintance that the decedent did not customarily accumulate significant debt. The documents are filed with the Clerk of Court where a filing fee is paid.
3. The attorney asks the Judge to enter an order declaring the Will (if there is one) to be the decedent’s Last Will and to direct distribution of the assets as requested in the petition.
4. If the Clerk and the Judge find everything to be in order, the Judge will sign an Order of Summary Administration. The document will direct the distribution of the assets to the beneficiaries as requested in the petition.
5. The Order of Summary Administration is the equivalent of a deed. It is recorded and officially transfers ownership of any of the decedent’s property to the beneficiaries who may then do with them as they wish.

Other States

The shorter process is called by different names in different states; every state’s definition is unique, and some are complicated. For example, expedited processes are available for:

• California estates worth up to $150,000;
• New York estates where property, excluding real estate and amounts that must be set aside for surviving family members, is worth $30,000 or less;
• Texas estates where the value of property doesn’t exceed what is needed to pay a family allowance and certain creditors;
• Missouri estates where the assets left behind are under $40,000 not including insurance, jointly-held assets, homes with beneficiary designations, payable on death accounts, and less debt and mortgages;
• Connecticut estates worth $40,000 or under; and
• Michigan estates worth $22,000 or less.

In some states, if the estate is small enough, you do not even need an attorney to help you through the process; the executor or the beneficiaries can do it on their own with forms provided by the court, sometimes available online. It is usually advisable to use an probate attorney, however, to be certain that all documents comply with the laws of your state.

Case Studies: Expedited Probate Processes for Smaller Estates

Case Study 1: Efficient Estate Settlement in Florida

Mr. Smith, a Florida resident, passed away without leaving a Will. His estate, excluding his homestead, had a total value of $70,000. Mr. Smith’s family wanted to settle his estate as quickly as possible to provide financial support to his surviving spouse. They opted to utilize Florida’s expedited probate process, Summary Administration.

By filing a petition for Summary Administration, Mr. Smith’s family initiated the process. They provided the necessary information about Mr. Smith, the estate’s value, and the beneficiaries. After publishing the required notice to creditors and interested parties, the family prepared an inventory of the estate’s assets.

Once the debts were settled, the remaining assets were distributed to the beneficiaries. Within a few months, the estate settlement was successfully completed, providing financial stability to Mr. Smith’s spouse.

Case Study 2: Swift Asset Distribution in California

Mrs. Johnson, a California resident, had an estate valued at $150,000, excluding her real estate holdings. She had a valid Will in place, naming her two adult children as beneficiaries. In order to expedite the distribution of assets to her children, Mrs. Johnson’s estate qualified for the Small Estate Affidavit process in California.

Upon filing the Small Estate Affidavit, Mrs. Johnson’s children provided the necessary information, including the estate’s value and details of the beneficiaries. They also obtained appraisals for any assets that required valuation. After settling the estate’s debts, the remaining assets were distributed to Mrs. Johnson’s children according to her Will.

Thanks to California’s expedited process, Mrs. Johnson’s estate was settled within a shorter timeframe, allowing her children to receive their inheritance promptly.

Case Study 3: Simplified Probate Process in Texas

Mr. Davis, a Texas resident, passed away without a Will, leaving an estate valued at $90,000. His family wished to settle the estate without undergoing a lengthy and complex probate process. They chose to utilize the Affidavit of Heirship, an expedited probate procedure available in Texas.

By submitting an Affidavit of Heirship, Mr. Davis’s family established the heirs and their respective shares of the estate. They provided evidence of their relationship to the decedent, including birth certificates and other relevant documents. The Affidavit of Heirship facilitated the transfer of assets from Mr. Davis’s estate to his rightful heirs.

By opting for the simplified probate process, Mr. Davis’s family successfully settled the estate and received their inheritances without the need for an extensive legal process.