My aunt’s estate is very small. What alternatives are there to a formal probate process?
Some states allow a small estate to be administered in one of the following manners: Independent Administration The court approves the appointment of the personal representative, who then files an estate inventory with the court. After that, the personal representative can act on behalf of the estate without any court supervision or approval. Muniment of Title Purpose is to simply clear title to certain real property. Can be used when the estate has no debts and there is no need for a personal representative. Small Estate Affidavit Heirs file an affidavit with the court stating they are entitled to outright distribution if the value of the estate is less than an amount specified by state statute (usually $50,000), excluding nonprobate assets, homestead, and family allowances. Informal Family Settlement Can be used for small estates that contain only tangible personal property (not bank accounts or stocks).
