Idaho Sample Letter for Decedent's Real Estate Transaction
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FAQ
Additionally, to qualify as a small estate the statutes also require that the "fair market value of the entire estate of the decedent which is subject to probate, wherever located, less liens and encumbrances, does not exceed $100,000." Idaho Code § 15-3-1201(a)(1).
A small estate could comprise of assets worth less than around £10,000. This would mean they wouldn't own their house and any assets they do have would be items left after passing.
Specifically, in Idaho a probate is required after you die anytime your estate includes any assets that have a value of $100,000 or more.
If the decedent had no will (intestate) or had a will (testate) or owned personal property with a net value of more than $100,000, or owned real property, then Informal Probate may be the appropriate method to handle the estate.
The fair market value of the entire estate of the decedent, wherever located, which is subject to probate, less liens and encumbrances, does not exceed one hundred thousand dollars ($100,000).
