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A small estate affidavit is a sworn written statement that is used to settle an estate of someone who has passed away. The individual’s estate must be considered ‘small’, which will be defined more clearly in the next section.
If the estate is valued at $150,000 or less, you can apply for probate through the optional and simplified small estate court process. For estates of any value, you can apply for probate through the regular court process (Application for a Certificate of Appointment of Estate Trustee).
Mar 30, 2021 · A small estate is defined in the Estates Act to mean “an estate that does not exceed the amount prescribed by regulations made under subsection (2);” (“Small Estate”) and the regulations in turn set the limit for a Small Estate to be anything with a value of $150,000 or less (“Small Estate Amount”).
Sep 11, 2023 · Obtaining a Small Estate Certificate in Ontario can be a practical and efficient way to manage the assets of a smaller estate. It helps simplify the probate process, reducing the administrative burden during an already challenging time.
Jan 4, 2017 · Further to our article “Small Estate” in Ontario now $150,000, as of April 1, 2021, for an estate valued at $150,000 or less, probate can be applied for through the small estate court process.
Mar 2, 2023 · A small estate affidavit allows an executor of an estate to collect and distribute a decedent’s assets without having to initiate probate proceedings, and the affidavit can be used in lieu of probate court proceedings if: (1) the estate does not include real property; and (2) the estate’s assets are collectively $100,000 or less.
People also ask
Should I submit a small estate affidavit?
Can a small estate affidavit be used outside of probate?
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Do you need an affidavit if a loved one dies without a will?
How do you determine if an estate qualifies as small?
Updated Apr 5, 2024. After someone dies, his or her estate must be settled (e.g., debts resolved, assets distributed). This page explains province-specific procedures for settling a small estate without going through the full court-supervised process known as probate.
