In many states the law provides an informal means or process for administering small estates, as defined by the state’s statutes.
For example, in some states an estate under a certain value may be distributed using an affidavit known as a small estate affidavit that is signed by the persons to whom the estate’s assets are to be distributed and two disinterested witnesses.
And other states have a simplified small estate process under which the successor to an interest in real property may petition the court to transfer the real property and recognize the transfer of personal property.
Laws vary from state to state and a state’s informal process for administering a small estate is usually located in the state’s statutes—often in the estates code or probate code.
In Mississippi, the law provides for a simplified process to administer small estates through the use of an affidavit or a petition to the court. If the value of the estate, excluding the value of homestead and exempt property, does not exceed $50,000, an heir or beneficiary may use a small estate affidavit to collect the decedent's personal property without formal administration. This process is outlined in Section 91-7-322 of the Mississippi Code. Additionally, Mississippi law allows for the summary administration of small estates under certain conditions, which can be a faster and less expensive alternative to regular estate administration. This process is governed by Section 91-7-145 of the Mississippi Code, which provides for the summary distribution of estates when the value of the estate is minimal or when all debts have been paid and the estate consists solely of personal property. It's important to consult with an attorney to ensure compliance with the specific requirements and procedures set forth in Mississippi law when dealing with small estates.