The death of a loved one causes grief and anguish for close family members. Unfortunately, the family member named as personal representative or executor in the deceased loved one’s will or estate plan bears the additional distress of a complex legal process.
Even those with relatively few assets may have legal obligations, such as debts and tax implications, to consider, as well as personal bequests.
Even a deceased loved one with a small estate deserves to have their wishes carried out and full compliance with the legal requirements and obligations.
A Chester County probate attorney at ThePeoplesLawFirm.com can help ensure a smooth and efficient probate process, avoiding unnecessary delays and potential mistakes that could leave the estate administrator liable.
What Is Small Estate Probate?
Pennsylvania describes the small estate probate process under Title 20 § 3102 as the following:
“The settlement of small estates on petition.” The statute goes on to describe small estates as “Those of a gross value not exceeding $50,000.”
Small estate probate streamlines the typical Pennsylvania probate process through a written petition filed by the personal representative or administrator of the estate to the Orphans’ Court. The Orphans’ Court is the division of Pennsylvania’s Court of Common Pleas that manages estate plans, wills, trusts, child guardianship, and adult incapacitation (which a Chester County will lawyer can help file).
Because of the small value of the estate under $50,000, the court bypasses the probate process and allows the personal representative to distribute the decedent’s assets.
Essentially, small estate probate is a shortcut, or a more efficient probate process available to the personal representative of a decedent’s estate valued at less than $50,000. Estates valued at over $50,000 must proceed through the full probate process.
What Types of Assets Can Be Distributed Through Small Estate Probate?
The Pennsylvania Orphans’ Court exempts some types of property from having to pass through the probate process. This applies only to estates valued at less than $50,000. This commonly includes assets such as the following:
- A decedent’s bank accounts with payable upon death (POD) or transfer upon death (TOD) clauses directing funds to another party—typically a close family member, such as a spouse or adult child
- Any property the decedent placed in a living trust
- Insurance policies and retirement funds with designated beneficiaries
- Real estate property with joint ownership and the right of survivorship to the other party
Estates with any of the above types of assets may be distributed through small estate probate as long as the decedent does not have additional assets that exceed the $50,000 bar.
A Chester County small estate probate attorney can advise you of how small estate probate in Chester County applies to your case.
What If a Decedent Owns Real Estate Property?
The $50,000 limit allowing an estate to bypass the typical probate process in Pennsylvania applies only to the value of a decedent’s personal property, not to real estate. Regardless of whether or not the decedent owned real estate property valued at over $50,000, the court allows the distribution of personal property and financial accounts valued under $50,000.
Estate funds earmarked for funeral and burial costs are omitted, as are any funds collected by or donated to the family, when calculating the value of a decedent’s estate to file a petition for small estate probate. A Chester County small estate probate lawyer can help with this process.
Get Help from a Small Estate Probate Lawyer in Chester County
Managing a loved one’s estate, even a small one, can feel overwhelming. From legal obligations to asset distribution, the process can be complex and stressful.
The team of Chester County small estate probate lawyers at ThePeoplesLawFirm.com can provide the guidance and support you need to navigate small estate probate smoothly, helping you fulfill your loved one’s wishes while avoiding unnecessary delays or mistakes.
Contact us today to schedule a consultation with a Chester County probate attorney who will handle your case with care.
