True" the small estate affidavit in Mississippi. What is a small estate affidavit? A small estate affidavit is a sworn statement of a person who considers themselves eligible for getting inheritance by the descendant who left assets of value less than a state statutory limit. The document is considered an option for those whose close ones died not owning enough property to qualify for probate according to their state laws. The affidavit might also be used by the creditor of the descendant proving the debt on oath before the court. A small estate affidavit might concern any property left by the descendant - bank accounts, jewelry, art, vehicles, money, and real estate. In some cases, typically a small estate affidavit is used when there is no last will. However, some states allow the use of an affidavit in conjunction with the last will, depending on certain legal requirements. In all states, such a document requires attestation by a notary public or other official authorized to administer oaths. Why do I need a small estate affidavit? If your spouse or parent has died, such a document will help avoid long probate court proceedings and associated costs, and take possession of the property left by your close person immediately. Having the affidavit form accepted by the local probate court, a claimant can require a bank or other entities or people who currently possess the estate previously owned by the descendant to give it away to them. However, in certain situations, it would be wise to first seek legal advice before filing the small estate affidavit form. For example, when the beneficiary has not reached the age of majority or is disabled, when chances of a will contest are quite high, when the descendant has left unpaid debts, or when it is impossible to create a...
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