When dealing with the modest estate and minimal assets of a decedent individual, avoiding probate can help save you and your loved ones ensure that the deceased’s inheritance isn’t eaten away by fees and taxes. Estate settlement through probate is costly.
Luckily, the state of Texas has enacted laws that allow executors to handle estate settlement by filing for a Small Estate Affidavit. According to the Texas Estates Code Chapter 205, you may be eligible to file for a Small Estate Affidavit if the estate meets these requirements:
- The decedent died without a will;
- 30 days have elapsed since the death;
- Decedent left less than $75,000 in property;
- Assets of the decedent are worth more than the debts of the decedent;
- There is no petition for the appointment of a personal representative;
- All heirs agree to sign the Small Estate Affidavit;
- Judge approves affidavit.
According to Texas law, the only people authorized to file a Small Estate Affidavit are the direct heirs of the deceased, such as an adult child or a living spouse.
Basically, if you’re someone who would inherit under Texas’ intestacy laws, then you’re authorized to file the affidavit. If there is no adult relative of the decedent, an underage heir may have a guardian file on their behalf.
If there are no direct relatives to file the affidavit, another relative can do so. Two disinterested witnesses are also required to sign the affidavit and must do so before a notary public.