One of the services The Fetty Firm focuses on are small estate affidavits. These are common when a loved one passes away without a will. Their estate may qualify as small if it follows a few key details. We will cover those in a bit, but first, let us discuss what an affidavit is.
An affidavit is a written statement of facts sworn to and signed by a deponent before a notary public. Essentially, it is the agreement to the information on the signed document. These are recognized in the court of law for those looking to make a claim.
A Small Estate Affidavit
The Fetty Firm can assist you in creating a small estate affidavit. A small affidavit is a simpler alternative to probate. It essentially takes claim to a qualifying estate if a will was not created to pass on the deceased’s estate. A small estate affidavit is possible if it fits the following requirements.
- The value of the estate is less than $75,000 (homestead value or other exempt property is not included)
- The deceased person has no will and 30 days have passed since the death
- No one else has applied to become an administrator or executor of the state
- The total assets’ value exceeds the total debt left (does not include homestead or exempt property or any debt associated with said assets)
Filing a small estate affidavit can be stressful, especially when you have just lost a loved one. The Fetty Firm can advise you on this kind of decision in a number of ways. We can inform you of when a small estate affidavit is appropriate. The requirements of a small estate affidavit are specific, so having the experts assist you will benefit greatly. We can also benefit you by helping you fill out the right forms and the process of filing those forms.
With that said, we understand how stressful it can be when dealing with the loss of a family member. There is a lot of planning and paperwork you have to go through once a loved one has passed away. Let The Fetty Firm work with you to help this healing process go smoother. Contact us by calling (214) 546-5746 or visit our website to learn more.