Small estate is a classification of estates with limited value that can go through shorter probate or avoid probate completely. Probate can be a long and very expensive process for all parties involved. States created small estate classifications for estates valued below a certain amount which can be resolved more easily. The relevant statutes vary heavily by state with some requiring the estate to be valued below $30,000 to some in the hundred thousands. Also, some states require each person to go through quick probate procedures that often do not even include lawyers. Other states allow probate to be skipped entirely, requiring only a death certificate and an affidavit from each person claiming to be entitled to part of the estate.
[Last updated in July of 2021 by the Wex Definitions Team]