Estates

Using Affidavits of Collection for Small Estates

04.21.2014
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Using Affidavits of Collection for Small Estates
Ordinarily, property belonging that is owned by a deceased person, but is in the possession of a third party (e.g. funds kept in a bank account) must be collected by a Personal Representative who has been appointed through the probate process.  In some cases, however, assets may be collected without going through the probate process.  When a deceased person’s estate has fewer than $50,000.00 in assets and does not contain real estate, those administering the estate may be able to collect assets from third parties by using […]