When to Choose Simplified versus Formal Probate

Depending on the value of the assets in an estate, you may be able to take advantage of informal probate proceedings to expedite the transfer of these assets into your name. Estates with less than $150,000 worth of assets may be settled using certain simplified transfer procedures. The procedures will depend on the type of asset being transferred.

For example, if an estate does not exceed a total value of $150,0000, small value items of personal property may be transferred by use of an affidavit, as long as at least 40 days have passed since the death of the person and there are no pending administrative proceedings for the estate. If a decedent owned real estate with a total value of less than $50,000, the real property may be transferred by filing a specific form of affidavit with the appropriate Court and Recorder’s office.  This particular affidavit can only be filed after certain expenses have been paid and at least 6 months has passed since the death of the person. There are also simplified procedures for surviving spouses and domestic partners to receive property outside the formal probate process.

These informal processes are faster than the formal probate process which can often take a minimum of 6 to 12 months to complete depending on the estate and the conditions of the local court. Also, a formal probate proceeding requires a 4 month period for creditors to make claims against the estate and the proceeding is part of the public record.

The informal probate process is substantially simpler and less expensive than a formal probate proceeding because there are fewer procedural steps and often no need for an attorney to make formal court appearances on your behalf. If you are inheriting an estate valued at less than $150,000, you should consider using the appropriate informal procedures to save yourself time and money.

The Law Offices of Hassell and Hyatt can help you determine which options may be available for your circumstances and offers free consultations for heirs.

You can schedule your free consultation by calling (916) 900-620.