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 New Jersey, the process for administering small estates is designed to be simpler and less costly than the regular probate process. New Jersey law allows for the use of an Affidavit of Surviving Spouse or Domestic Partner for the collection of personal property for estates that do not exceed $20,000 if the decedent is survived by a spouse or domestic partner. If there is no surviving spouse or domestic partner, a family member can collect assets up to $10,000 using an Affidavit for the Collection of Personal Property. Additionally, New Jersey has a procedure known as 'simplified probate' for small estates. This process is available for estates where the total value of the assets does not exceed $20,000 for a surviving spouse or domestic partner or $10,000 for other next of kin. Under this procedure, an eligible individual may present a request to the surrogate's court for an order granting administration of the estate without the need for formal probate. It's important to note that these values and procedures are subject to change, and an attorney can provide the most current information and guidance specific to an individual's situation.