Small Estate Affidavit for Bank Accounts
What a Small Estate Affidavit Does
A small estate affidavit or a state's equivalent simplified small-estate process can help eligible successors claim bank accounts and personal property without full probate. Requirements differ: some states accept a sworn affidavit, while others require a court filing or certificate.
Most states have some version of this process. The thresholds, waiting periods, and requirements vary significantly.
State-by-State Thresholds
| State | Threshold | Waiting Period | Key Rules |
|---|---|---|---|
| California | $208,850 | 40 days | Increased from $184,500 on April 1, 2025. Real property excluded. |
| Texas | $75,000 | 30 days | Only available for intestate estates (no will). Excludes homestead. |
| New York | $50,000 | None | Personal property only. Any real estate requires formal probate. |
| Illinois | $150,000 | 60 days | Motor vehicles excluded — transferred via Secretary of State form. |
| Florida | $150,000 | None | Summary Administration is a simplified court process, not an affidavit. Also available if death occurred more than 2 years ago. |
| Michigan | $53,000 | 28 days | Indexed for inflation annually. |
| Oklahoma | $200,000 | 10 days | Short 2-month creditor claim window. |
| Georgia | $10,000 | None | Lowest threshold in the country. |
The Gross vs. Net Value Trap
This catches more people than any other small estate mistake. Most states calculate eligibility using the gross value of personal property — not net.
Example: The deceased had a $60,000 bank account and owed $20,000 on a personal loan. The net value is $40,000, which is below New York's $50,000 threshold. But the gross value is $60,000 — above the limit. The estate doesn't qualify for the simplified process and must go through formal probate.
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What Doesn't Count Toward the Threshold
Several asset types are legally excluded because they transfer outside probate:
- Joint accounts with right of survivorship — pass automatically to the surviving owner
- POD/TOD accounts — go directly to named beneficiaries
- Assets in a revocable living trust — managed by the successor trustee
- Life insurance proceeds — paid to named beneficiaries
- Retirement accounts (IRAs, 401(k)s) — transfer to designated beneficiaries
Only solely owned assets without beneficiary designations count toward the threshold.
How to File
The basic process in most states:
- Wait out the mandatory period where required — 10 to 60 days after the death, depending on your state
- Fill out the affidavit form — available from your county probate court or state court website
- Include required information — your identity, relationship to the deceased, the deceased's identifying details, a list of assets, and a statement that the estate is below the threshold
- Get it notarized — most states require the affidavit to be sworn and notarized
- Present it to the bank along with a certified death certificate and your photo ID
Some states, including Texas and Florida's Summary Administration process, require a court filing; others allow a valid affidavit or certificate to be presented directly to the financial institution.
When the Bank Rejects Your Affidavit
Banks occasionally refuse small estate affidavits, especially if:
- The affidavit form doesn't match their state's statutory requirements
- The estate value is close to the threshold and the bank wants to verify
If rejected, ask for the rejection in writing with the specific reason. Contact the bank's estate services department (not a branch teller) and cite the applicable state statute. If the bank still refuses, ask a probate attorney to review the state's rules and the bank's written reason.
The Bank Accounts & Financial Claims After Death toolkit covers the small estate affidavit process in detail, including which states allow direct bank presentation and which require court filing first.
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