Probate can be a lengthy and costly process, but in Texas, certain estates qualify for a simpler method to transfer assets. One way to bypass the probate process is through a small estate affidavit.
This legal tool provides a faster and more affordable solution for settling small estates when they meet specific conditions.
What is a small estate affidavit?
A small estate affidavit is an option available when the deceased did not leave behind a will, or their will was not presented to the court. The total value of the estate must be less than $75,000, not including exempt property such as a homestead or certain personal items. This method applies only when no formal probate proceeding has begun.
How can you use a small estate affidavit?
To use a small estate affidavit, all heirs of the deceased must agree on how they will distribute the assets. These heirs must also meet the legal definition of “heirs-at-law” under Texas intestacy laws, which outline who inherits when someone dies without a will. All heirs must sign the affidavit and submit it to the court in the county where the deceased resided.
When the court approves the affidavit, it allows the heirs to collect the deceased’s assets. This avoids the need to go through a full probate process, saving time and reducing expenses. However, real estate transfers only apply to the deceased’s homestead. If the estate includes non-homestead property, the affidavit cannot transfer those assets.
When should you use a small estate affidavit?
The small estate affidavit works best when the estate is straightforward and the heirs agree on asset distribution. The process moves more quickly than formal probate, making it a practical option for families handling small estates in Texas. Still, careful attention to the details and requirements is essential to ensure that the affidavit meets all legal criteria.
Using a small estate affidavit can simplify settling an estate, but it is important to understand the limitations and requirements under Texas law. When done correctly, it provides a valuable tool to avoid the complications of probate.