If a loved one has died and left an estate that’s smaller than $75,000, you may be able to use a Small Estate Affidavit (SEA) to avoid the probate administration process. 

However, a Small Estate Affidavit isn’t always the right tool to use, even if you meet the requirements to file one. To help you decide whether you want to pursue this option, we offer some Pros and Cons.

Note this blog post is not legal advice. You should always seek the advice of a qualified probate attorney before taking any action in regard to any estate. 

Pro: Small Estate Affidavits Are Faster than Probate

It usually takes about thirty days to approve a Small Estate Affidavit, in contrast to a probate administration, which can take six months or longer. 

Families that need these assets fast can truly benefit from the speed of a Small Estate Affidavit. 

Pro: Small Estate Affidavits Are Cheaper than Probate

Although the filing fees for a small estate affidavit and to start a probate administration are the same, you save time and money during the process because it is generally an easier process. 

By contrast, the probate administration process requires many more expenses, including posting expenses, newspaper notices, letters, inventories, and reports. In addition attorneys usually have to spend more time on probate, which means higher attorneys fees. 

Con: Personal Liability

When you file a Small Estate Affidavit, you aren’t just claiming that the estate is worth less than $75,000. You’re also certifying that the assets are worth more than the debts. Be sure to thoroughly research the state of the estate’s debts before choosing to use this tool. 

Con: You Can’t Transfer Real Estate

If the decedent had real estate, you can’t transfer real estate to certain heirs with a Small Estate Affidavit. You will need to use other tools to transfer the title, or you’ll have to take the estate through the probate administration process.

The specific requirement will depend on your unique situation and goals. 

Get Help Today 

Nobody should face the probate process alone. If you are dealing with the loss of a loved one and want to know how best to ensure that assets get transferred in a fair and timely fashion, then contact us.

We’re experienced probate attorneys who can help you solve your problems and answer your questions. Our fair, flat rates keep the entire process affordable.

Ready to get started? Contact us today.