Q: Small Estate Affidavit
Okay, I know without a doubt that my father's estate is a less than 150k. So I won't need to go through probate. websites like Zillow and others confirm the houses value.
My question is, when I go into chase bank when the 40 days are up, are there any other documents I need with me besides my father's death certificate to be able to sign an affidavit and get chase to release my father's account to me? I need to know if I must get an appraisal done for the estate or show proof of any kind to them that the estate qualifies for a Small Estate Affidavit. I'm just focused on my father's account first before I turn my attention to his house. My father's account holds only about 10k.
A:
To clarify, the procedure to collect property worth less than $150K is only for personal property. It cannot transfer real property (like a house). But this only applies if all the property, real and personal, is worth less than $150K.
Whenever there is real property you must use some type of probate procedure to transfer the real property to the heirs. In your situation, there are three procedures: (1) Affidavit Regarding Real Property of Small Value ($50K or less); (2) Petition to Determine Succession to Real Property ($50K to $150K); or (3) Petition for Probate ($150K or over). The amounts apply to all the property, real and personal.
First step is to get an appraisal from a probate referee for the value of the house. That will determine what procedures to use.
Assuming that you are the only heir, if you can collect the bank account with a small estate affidavit, then you need the certified death certificate and wait 40 days. Some banks require their forms, and some you can use your own.
Contact an attorney for a full consultation.
Patricia Ann Brinkley agrees with this answer
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