A Pennsylvania Small Estate Petition and Decree is a legal document used in Pennsylvania to facilitate the transfer of probate assets without the need for formal probate proceedings. The petition is filed by a surviving spouse or other interested party, and must include information about the deceased, the heirs, and the assets of the estate. The court then issues a decree approving the transfer of the assets. There are two types of Pennsylvania Small Estate Petition and Decree: (1) a Small Estate Affidavit, which is used when the estate has no real estate and the value of the assets is less than $50,000; and (2) a Small Estate Petition and Decree, which is used when the estate has real estate and/or the value of the assets is over $50,000.
Pennsylvania Small Estate Petition and Decree
State:
Pennsylvania
Control #:
PA-SKU-1092
Format:
PDF
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Small Estate Petition and Decree
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FAQ
A decree of distribution is a conclusive ruling by a probate court on all the rights of individual beneficiaries to an estate. After the decree of distribution is entered, the assets of the estate are distributed, and any challenges to the will after this decree are extremely difficult to pursue.
A Family Settlement Agreement is often the easiest way to close an estate in PA because it does not involve any judicial proceedings. If all of the heirs and administrators of the estate agree, a contract can be prepared detailing all of the distributions and payments that have been made.
To open an estate and proceed with this, a personal representative must file a Petition for Grant of Letters and the decedent's death certificate with the local Register of Wills. It is recommended that they work with estate attorneys in Pennsylvania to prepare the Petition and file it appropriately.
Pennsylvania's small estate proceeding is called a "settlement of small estate on petition." This procedure is available if all of the property left behind is worth $50,000 or less. But these types of property don't count in the tally: real estate.
In Pennsylvania, 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).
In Pennsylvania, it is only necessary to probate if the decedent owned assets, whether financial or real estate holdings, solely in their name which did not already have a beneficiary designated. Such assets are called probate assets, and in order to convey ownership of them it is necessary to probate.
Small estate affidavits are filed with the Register of Wills. They're used to simplify the probate process for estates valued at $50,000 or less. You can view other common probate forms provided by the State of Pennsylvania and the Register of Wills.
In Pennsylvania, the probate process is not complicated. It involves having an Executor or Administrator appointed to administer the estate and eventually distribute estate assets to the beneficiaries. If the decedent had a will, then the assets will be distributed ing to the terms of the will.