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A small estate affidavit is a process used in some states to allow an estate to bypass the probate process. It is typically used when the estate has little to no assets, and few if any debts.
When an individual has not made a Will, or if the Court deems the Will to be invalid, the Estate can be handled through a Petition for No Administration Necessary. This Petition allows for the distribution of the property of the deceased, as agreed upon by all heirs.
In Georgia, summary probate offers a simplified probate procedure for estates of individuals who die without a will and with less than $10,000 in their bank accounts.
Assets that have a named beneficiary. Many times you can name a beneficiary on a bank account, retirement account, or life insurance policy. These assets do not need to go through probate before they are distributed. Assets held in a trust.
Upon presenting a sworn small estate affidavit, the heirs can recover a maximum of $10,000 from the decedent's bank accounts.
All estates have to go through probate?no matter what they're worth.