A “small estate” can be worth several hundred thousand dollars yet be eligible for a simplified path through settlement. Each state defines “small estate” in its own way. The important thing is that the states have recognized the value of streamlining the process for less-complicated estates. If your estate falls under a specified threshold set by your state, there may be two options for this route: simplified probate court and claiming property with affidavits.

For simplified probate court, the probate court maintains its involvement in the process of settling the estate but exercises far less control. In some instances the procedures are so straightforward that a lawyer is not even necessary. This saves both time and money.

For claiming property with affidavits, your heirs who are going to inherit your personal property — not real estate — may be able to submit a document declaring they are the intended recipient of certain parts of your property. A signed affidavit, under oath, is required. The size of the estate for which this approach can be used varies quite a bit from state to state but it is definitely worth investigating. The thinking is that if the property is not vastly valuable, the likelihood of there being a dispute on the claim is lessened. Once the institution or person holding the property is presented with the affidavit, the asset can be released.