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Can a small estate affidavit be used outside of probate?
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By submitting a small estate affidavit, you may be able to speed up the settlement of an estate and claim assets outside of the formal probate process. A formal probate court oversees the process of distributing a decedent’s property to lenders, creditors, and then to heirs.
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).
A small estate affidavit allows surviving heirs to transfer property owned by the deceased’s estate without having to go through a long and sometimes very complex probate process. Here we examine the small estate affidavit and what it does, how it’s used, and who can use it.
Settling Small Estates. 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.
Did you know that when you die, your heirs and beneficiaries may be able to use a small estate affidavit instead of a probate to transfer your assets? While small estate affidavits are very useful, there are some limitations on when affidavits can be used and who can use them.
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.
Mar 15, 2022 · A Small Estate Affidavit can be used when someone dies owning less than $100,000.00 of assets and no real property (or real property that was otherwise transferred outside of Probate through Joint Tenancy or a TODI).
