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 South Carolina, the law provides for a simplified process to administer small estates through the use of an 'Affidavit for Collection of Personal Property' pursuant to South Carolina Probate Code Section 62-3-1201. This process is available when the value of the entire estate, less liens and encumbrances, does not exceed $25,000. The affidavit can be used by the successor of the deceased 30 days after the death to collect personal property without formal administration. The successor must swear to the affidavit before a notary and provide it to entities holding the assets. Additionally, South Carolina law allows for a summary administration process for estates under certain thresholds, which simplifies the probate process. It is important to consult with an attorney to understand the specific requirements and to ensure that the small estate process is appropriate for the situation at hand.