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If you create a revocable trust, you will need to choose a Trustee and decide how the property will be managed after you die. If you want to avoid probate, you will also need to transfer ownership of all of your property to the revocable trust or name the revocable trust as a beneficiary of your property.
In fact, many estates can be settled without any court involvement at all. Estates valued at less than $50,000, plus $100,000 worth of motor vehicles, can often avoid the probate process in court, provided the estate contains no real property (land or a home).
Informal probate is simpler than formal probate. In fact, informal probate cases usually don't require any hearings. This section covers what to do when you want to (1) open an informal probate and (2) appoint a Personal Representative.
A probate is required when a person dies and owns property that does not automatically pass to someone else, or the estate doesn't qualify to use the Affidavit for Collection of Personal Property procedure.
Alaska's ?small estate? threshold is: The estate value (after debts owed are paid) is less than $50,000 in personal property and $100,000 in vehicles.
Exempt property is personal property of the person who died, worth up to $10,000, that the Personal Representative must give to certain family members.
An Alaska small estate affidavit allows the successors of a person who has passed away to collect property of the person who died without having to go through the added time of the probate process.