Taxation & Estate Planning

Small Estate Affidavits: Information Your Attorney Needs

By Joel A. Schoenmeyer

If a deceased person owned less than $100,000 worth of property in his or her own name at death (not including real estate), it may be that a probate isn't needed in order to administer the property. Instead, an attorney can prepare a small estate affidavit to transfer the property where it needs to go (to the beneficiaries under the deceased person's Will, if there is one, or to his or her heirs if there isn't).

I talked about small estate affidavits a long time ago, here, but wanted to delve a bit more into what information you'll need to furnish to your attorney, so he or she can prepare the affidavit. Here's my list:

1. Deceased person's name and last address.

2. Description and estimated value of each asset owned by the deceased person in his or her own name at death. (For example: "Fidelity money market account #12345 valued at $15,000.")

3. Names of deceased person's surviving spouse, minor children, and adult dependent children, if any.

4. Answers to the following:

a. Has a probate estate been opened, or do you plan to open one in the future?
b. Have the deceased person's funeral expenses been paid?
c. Do you know of any claims (bills) of the deceased person that have been or may be submitted for payment?

The attorney will also need copies of the deceased person's death certificate and Will (if any). If the deceased person had no Will, the attorney will discuss heirship with you (so you want to make sure you know the names and contact information for the deceased person's closest relatives).

Full post as published by Death and Taxes Blog on April 19, 2010 (boomark / email).