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 Vermont, the law provides a simplified process for administering small estates through the use of a small estate affidavit or a similar procedure. Specifically, if the value of the estate does not exceed a certain threshold, which is subject to change and should be verified with current statutes or an attorney, the estate may be settled without formal probate. The Vermont statutes outline the requirements for using a small estate affidavit, including who may file the affidavit, the type of assets that can be transferred, and the necessary documentation. Additionally, Vermont law allows for the summary administration of small estates, which is a more streamlined process than regular probate and can be used when the estate meets certain criteria. It is important for individuals dealing with a small estate in Vermont to consult the most recent laws or seek advice from an attorney to ensure compliance with the specific requirements and procedures for small estate administration.