Small Estates with Personal Property Only
For estates with personal property only, you can use an affidavit or declaration that complies with California Probate Code Section 13100 to acquire the property. This procedure is used for such property as financial accounts, stocks and mutual funds. You give the custodian of the property, such as a bank, the affidavit or declaration along with a certified copy of the decedent's death certificate. Some financial institutions have their own form of affidavit or declaration for your use. At least 40 days must have passed since the decedent's death before this procedure can be used.
Small Estates with Real and Personal Property
If the decedent's estate includes both real and personal property, you use the same form of affidavit or declaration that complies with Probate Code Section 13100 with the additional requirement of attaching to the form an inventory and appraisal of the real property. The inventory and appraisal must be done by a probate referee appointed by the California State Controller's office. Once the inventory and appraisal is complete, you can submit your affidavit or declaration with the attachment to a custodian of the personal property and take possession of it.
Small Estates Transfer of Real Property
Real property valued at less than $50,000 can be transferred from the decedent’s name to the appropriate beneficiaries by using the simplified procedure set forth in Probate Code Section 13200. This code section requires the use of a form published by the California Judicial Council called "Affidavit Re Real Property of Small Value ($50,000 or less)." A copy of the inventory and appraisal and a certified copy of the decedent's death certificate must be attached to the completed form. The form is filed with the clerk of court in the county where the real property is located. The court clerk is required to determine that the form and attachment are complete. A properly completely form with the required attachments will be accepted for filing by the clerk, who will then issue a certified copy of the form without the attachments. You record the certified copy with the county recorder’s office where the real property is located.
Small Estate Procedures are Optional
The simplified procedures for small estates allowed by the California Probate code are optional. You are entitled to open formal probate proceedings to administer the decedent's estate regardless of the value of the estate property. In some circumstances, such as when you anticipate a dispute among the potential beneficiaries, it may be advisable to use formal probate proceeding so that the court can supervise the administration of the estate.