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Small Estate Affidavit Form - Virginia
What Is a Small Estate Affidavit in Virginia?
By completing a Virginia Small Estate Affidavit Form , an individual is legally allowed to collect an inherited estate and this document will give them the legal authority to become the new owner of the estate. This is triggered when the original owner of the estate passes away.
Alternate Name:
- Virginia Small Estate Act Affidavit.
By forming a Virginia Small Estate Affidavit, the person inheriting the estate will avoid the long probate procedure in court which goes through rigorous and lengthy checks. However, there are some specific laws in place which need to be carefully considered. If not, the document will not be legally recognized. Take into account the following points:
- Like in most states, there is a minimum time period after which you can legally file the document. In Virginia, at least sixty days needs to pass from the day that the decedent died;
- The total value of the small estate should not be valued at more than fifty thousand dollars. However, this is not inclusive of real estate;
- The document should be signed before a notary public.
A fillable Virginia Small Estate Affidavit can be downloaded below.
How to File a Small Estate Affidavit in Virginia?
When filing a Small Estate Affidavit in Virginia, you need to be aware of the Virginia Small Estate Affidavit procedure. Knowing which steps to take will help make sure that the document is filed correctly and that no problems will occur in the future. The procedure contains the following steps:
- Firstly, you will need to determine whether or not a will exists for the small estate . This is just a formality that needs to be noted and if you are unsure, check with the county clerk;
- Ensure that you qualify for the small estate affidavit by making sure that the value of the small estate does not exceed the permitted maximum . Only small estates valued at fifty thousand dollars are suitable;
- Download one of our templates and fill in the affidavit correctly . It is important to include details concerning every successor and the values of each asset listed;
- Sign the document before a notary public to ensure that it is notarized appropriately;
- This notarized document can be used to regain all assets including those that are with other parties;
- After submitting all of the forms and documents all you need to do is wait before you can legally collect the property.
Download Small Estate Affidavit Form - Virginia
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