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Frequently Asked Questions

Does estate qualify for small estate affidavit?

The total value of an estate must less than a certain amount to qualify for the use of the small estate affidavit. Notarizing a small estate affidavit may not be required by your state, but it is still a good idea to do it. If you want to settle a deceased person's estate with an affidavit, you need to make sure that it is legally possible first.

Is New York an escrow state?

There is no federal or New York state law that requires the use of an escrow account in a real estate transaction. In some cases, however, a mortgage lender requires that a homeowner use an escrow account. Loans insured by the US Federal Housing Administration, for example, require that homeowners set up an escrow account to be managed by the ...

Does an affadavit of small estate have to go th?

The small estate affidavit lets you go to any person, company or bank that may currently hold estate property previously owned by the decedent. With this form, these entities are required to hand over or transfer the assets according to the terms of the affidavit, or they can face legal prosecution.

What is New York State small estate?

Wills and Probate Small Estates in New York State A small estate is the estate of an individual who dies leaving personal property having a gross value of $30,000 or less. A voluntary administrator is a person who qualifies and undertakes to settle the estate of a decedent without the formality of a full court administration.

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