How does probate work for estates that don’t have real property?
If a person passes away and all they had was an account then there is a key number of $150,000 to look for. If the account was worth less than $150,00 then we can do an affidavit and send that to the financial institution. As long as all the kids sign off, the financial institution will transfer the money in equal shares to the children or according to what the will says.
This happens outside of court and is usually an inexpensive process. Even though this is a simple process, an attorney is needed to help you.
You have to wait 40 days after someone dies to start the process, and in total it takes two to three months to complete.
