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 Maine, the law provides a simplified process for administering small estates through what is known as a 'small estate affidavit' or by a summary administrative procedure. According to Maine statutes, if the value of the estate is below a certain threshold, which is currently $40,000, the successors may be able to avoid formal probate. They can use the small estate affidavit to claim assets such as bank accounts, stocks, and other personal property without going through the full probate process. This affidavit must be signed by the successors and may require notarization. Additionally, Maine law allows for a simplified court process for small estates, which involves filing a request with the probate court. The court may then issue an order for distribution of the estate's assets, which can include both personal property and real estate. It's important to consult with an attorney to understand the specific requirements and to ensure that the process is handled correctly.