This form is a sample letter in Word format covering the subject matter of the title of the form.
Modelo Donación Without In Queens
Category:
State:
Multi-State
County:
Queens
Control #:
US-0020LR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
In New York, only estates valued higher than $50,000 need to pass through formal, full probate.
To qualify for a small estate affidavit in New York, the total value of the deceased person's estate must be $50,000 or less, excluding real property like land or buildings.
VOLUNTARY ADMINISTRATION or SMALL ESTATE PROCEEDING may be used when a fiduciary is needed to transfer estate assets (personal property only) and the value of the assets does not exceed $50,000, exclusive of property set off under EPTL 5-3.1.
In Texas, however, a small estate affidavit is offered only where there is no will (also referred to as dying intestate) and for estates with a value of $75,000 or less. With some simple paperwork, your loved one's estate can be distributed without a costly court proceeding.
Generally, for New York estate tax purposes, if the value of assets passing to beneficiaries other than a spouse or charity is below a certain threshold ($6.94 million in 2024), the assets are fully exempt from tax and no New York estate taxes will be due.
