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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 Ohio, the law provides a simplified process for administering small estates through the use of a small estate affidavit or a summary release from administration. Ohio Revised Code Section 2113.03 allows for the use of a small estate affidavit when the value of the probate estate is $35,000 or less, or $100,000 or less if the spouse is entitled to all of the assets. The affidavit can be used by the successor of the decedent to collect the assets without formal probate. Additionally, under Ohio Revised Code Section 2113.031, a summary release from administration may be available if the applicant is the surviving spouse and the value of the estate assets does not exceed the statutory allowance for support, or if the applicant has paid or is obligated in writing to pay the decedent's funeral and burial expenses, and the value of the estate assets is $5,000 or less. These processes are designed to be more cost-effective and quicker than formal probate proceedings, allowing for the efficient distribution of assets in smaller estates.
When a loved one passes away, the process of distributing their assets can often be cumbersome, especially when dealing with the intricacies of probate court. Many states recognize that smaller estates shouldn't have to undergo the same procedures.