Small Estate Affidavit Texas


TEXAS SMALL ESTATE AFFIDAVIT

What is a Texas Small Estate Affidavit?

A Texas Small Estate Affidavit is a legal document that is used in Texas to transfer the assets of a deceased person to their heirs or beneficiaries without going through the formal probate process. It is designed for estates with a small value, where the total value of the estate, excluding homestead property, does not exceed $75,000. It is important to note that going around the formal probate process does not mean it does not have to be signed by a judge. In this sense the small estate affidavit is a quasi-judicial document. Let’s call it an ‘expedited’ probate because it is quick and less complicated but still requires a Judge’s signature.

The affidavit must be completed by a person who is claiming to be entitled to the property of the deceased individual, and it must be signed under oath. The document must also include a description of the deceased person’s assets and the names and addresses of their heirs or beneficiaries.

Once the affidavit is completed, it can be presented to banks, financial institutions, or other organizations holding the deceased person’s assets, along with a death certificate, to claim the assets.

It’s important to note that not all assets are eligible for transfer through a Small Estate Affidavit, and the process may vary depending on the circumstances of each case. Therefore, it’s recommended to consult a lawyer before using a Texas Small Estate Affidavit to ensure it’s the appropriate method for transferring the assets in question.

Who can use a Small Estate Affidavit in Texas?

A Texas Small Estate Affidavit can be used by anyone who is entitled to the property of a deceased person who was a resident of Texas at the time of their death, and who had a small estate with a value not exceeding $75,000 (excluding homestead property). This could include a surviving spouse, child, parent, sibling, or other close relative of the deceased person.

To use a Texas Small Estate Affidavit, the person claiming to be entitled to the property must be able to prove their relationship to the deceased person and their right to the property, and they must be able to demonstrate that the estate qualifies as a small estate.

It’s important to note that the Texas Small Estate Affidavit may not be appropriate or available in all cases, and it’s always a good idea to consult with a lawyer before using it to ensure it’s the right option for your situation.

How can one get a Small Estate Affidavit in Texas?

To get a Texas Small Estate Affidavit, you will need to follow these steps:

Determine if the estate qualifies: Before using a Small Estate Affidavit, you must make sure that the estate of the deceased person qualifies as a small estate. This means that the value of the estate must not exceed $75,000 (excluding homestead property).

Gather the necessary information: You will need to gather information about the deceased person’s assets, including bank accounts, personal property, real estate, etc. You will also need to gather the names and addresses of all heirs or beneficiaries of the estate.

Complete the Affidavit: The Texas Small Estate Affidavit must be completed by a person who is entitled to the property of the deceased person. The document must be signed under oath and include a description of the deceased person’s assets, the names and addresses of their heirs or beneficiaries, and other relevant information.

Notarize the Affidavit: The Affidavit must be notarized by a notary public.

Present the Affidavit to the relevant institutions: Once the Affidavit is completed and notarized, it can be presented to banks, financial institutions, or other organizations holding the deceased person’s assets, along with a death certificate, to claim the assets.

It’s important to note that the Texas Small Estate Affidavit is just one option for transferring the assets of a deceased person. There may be other options available, and it’s always a good idea to consult with a lawyer before using the Affidavit to ensure it’s the right option for your situation.