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 Virginia, the law provides for a simplified process to administer small estates. According to the Virginia Code, if the value of the decedent's estate does not exceed $50,000, a successor may use an affidavit to collect personal property without formal administration. This is known as the small estate affidavit process. The affidavit must be signed by the successor and sworn to before a notary public or other person authorized to administer oaths. The successor must wait at least 60 days after the decedent's death to use the affidavit, and it must state that no application for the appointment of a personal representative is pending or has been granted in any jurisdiction. Additionally, Virginia law allows for the real property of a small estate to be transferred through a process that involves petitioning the court. The specific procedures and requirements for these processes are detailed in the Virginia Code, and it is advisable to consult with an attorney to ensure compliance with all legal requirements and to facilitate the transfer of assets properly.