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What is a small estate affidavit?

I was asked to fill one out for my deceased father in regards to stocks he bought as a young man.
Status: Open    Jan 14, 2016 - 07:38 PM

Elder Law, Finance

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Jan 20, 2016 - 06:56 AM

I cannot say for sure without seeing the document. It is probably a way to settle the estate and have the stock sold or change ownership to you. Most states have a small estate or summary distribution statute that allows some estates to be settled much quicker without the requirment of bond, inventory, etc. If you are not sure from reading the document check with a local attorney who practices in probate court.

Mar 16, 2016 - 12:45 PM

These documents are typically used to transfer assets where there are insufficient resources to warrant a full probate administration. The affiant will testify (in writing in the document) regarding the heirs of the deceased and that there are no outstanding debts or expenses. If you have any questions about it, you should ask an attorney to review the actual document prior to your signing it.

Mar 16, 2016 - 12:47 PM

It is a way to gain access to assets frozen at death without going through a full-blown probate process.
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