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Richard, Attorney
Category: Estate Law
Satisfied Customers: 55455
Experience:  29 years of experience practicing law, including tax and estate planning.
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My mother-in-law passed away in February. The only assets she

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My mother-in-law passed away in February. The only assets she had were bank accounts, brokerage account, a small stock, and life insurance. All were non-probate as they were either payable on death or transfer on death except for her checking account and the small stock. If the balances are less than $50,000, can we just fill out an Affidavit for Collection of Personal Property form to claim those assets? She did have a will and appointed her sons as co-personal representatives. We are in Minnesota. Thank you.
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good afternoon. Yes, you can simply use the Small Estate Affidavit. The monetary threshold deals only with probate assets; it does not factor into the amount any assets that transfer automatically because those are not considered probate assets and would not be governed by any probate proceedings. The Small Estate Affidavit is designed to allow you to avoid probate; thus it only relates to probate assets.

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