New York Affidavit of Heirship for Small Estates
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How to fill out Affidavit Of Heirship For Small Estates?
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FAQ
Are any assets exempt from probate in New York? Jointly owned assets are not subject to probate because they automatically pass to the surviving owner. Assets with a named beneficiary also bypass probate because the beneficiary is legally entitled to the asset.
An affidavit of heirship is a document, sworn to under oath, that is submitted to the Surrogate's Court definitively identifying all of the people who may have a legal claim to inherit the decedent's assets or property.
The 1310 Affidavit, a gem hidden within New York's SCPA regulations, allows certain relatives and funeral creditors to collect a decedent's assets without filing any papers in court. This not only saves you time and money but also spares you the headache of navigating the bureaucratic maze of the legal system.
In New York, only estates valued higher than $50,000 need to pass through formal, full probate.
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.
Before attempting the file, the person who fills out the affidavit (known as ?the affiant?), should have: (i) the death certificate of the decedent; (ii) contact information for all other possible heirs; (iii) information regarding any unpaid creditors of the decedent; (iv) an enumeration of the estate's assets, as ...
The decedent's estate includes any real or personal property which was owned by the decedent alone. "REAL" property refers to land or anything attached to it. "PERSONAL" property is any property other than real estate, such as bank accounts, stocks, insurance policies, etc.
If Decedent owned real property jointly with another person and had less than $50,000 of personal property, then IT IS a small estate. If there's real property and a Will, then a probate proceeding should be filed. If there's no Will and real property then an administration proceeding should be filed.