Get Small Estate Affidavit for Estates Not More Than $50,000

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IN THE CHANCERY COURT FOR ___ COUNTY, TENNESSEEESTATE OF:) ) NO. ___SMALL ESTATE AFFIDAVITAfter being duly sworn, the affiant, ___,states: (1) The decedent, age ___, died on the ___ day of ___, 20___,
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FAQ

Maximum – $50,000. Laws – Section 30-4-102. Step 1 – Write in the name of the decedent. Step 2 – Write in your name. Step 3 – Write in the following information about the decedent: Step 4 – List the creditor, address and amounts of any unpaid debts.

A small estate is defined in T.C.A. §30-4-102 as an estate "in which the value of the property does not exceed $25,000.00." Under the Small Estates Act, the term "property" is comprised of personal property which is held individually by the decedent on the date of death.

The Tennessee small estate affidavit is used to administer estates with assets totaling $50,000 or less excluding any interest in real property. The affidavit must be filed in the county in which decedent resided at time of death. At least 45 days must have passed since the date of death before this form may be filed.

The executor has the responsibility to inventory the estate and provide that inventory to the probate court. ... While Tennessee law does not explicitly require all wills be probated, it is virtually impossible to transfer assets that are solely in the decedent's name without filing the will for probate.

In Tennessee, you can make a living trust to avoid probate for virtually any asset you own -- real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

Wills do not have to go through probate unless you want to transfer ownership of assets owned by the testator, or the person who wrote the will, to her living beneficiaries. ... Generally, probate is required for large, complex estates with multiple assets to settle the testator's affairs in an orderly, legal way.

Small Estate Affidavit Used by Executor The person who fills out the firm is called the Affiant. The Affiant must estimate the gross value of the estate before even starting to fill out the form. The definition of a Small Estate varies by state, but is generally below $100,000 or $150,000.

A small estate affidavit can be used whether or not the decedent had a will. But it can't be used if the estate goes to probate court. If there is a will, the person who is named the executor of the estate can use the small estate affidavit.

Cost Of The Small Estate Affidavit Procedure Because of this, the fee can range from about $1,000 to several thousand dollars. The clerk's filing fee for this procedure is usually about $350. That is generally the only cost.

A small estate affidavit is a legal document that allows property from a will to be transferred without it having to go through the probate process. This can be advantageous for the deceased person's beneficiaries, as the probate process can sometimes be costly and time-consuming.