Is a smallestate affidavit valid regarding out of state assets?

My father has a small estate and shouldn’t need MN probate. Will the MN affidavit of collections be suffient for bank accounts based in WI & NJ?

Asked on September 2, 2011 under Estate Planning, Minnesota

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

In most states in theis country there is a mechanism to probate small estates in a relatively inexpensive and expedited manner. The typical benchmark for the administration or probate of small estates is a maximum of one-hundred thousand dollars ($100,000.00).

As to whether or not a Minnesota affidavit of ocllections being sufficient for bank accounts based in Wisconsin and New Jersey as part of your father's estate, they simply need to be included in the probate or administration of your father's estate presumably being filed in Minnesota. You do not need to worry about New Jersey of Wisconsin law applying to these accounts if your father was a resident of Minnesota when he passed away.

If the bank accounts were "joint tenancy" accounts, they do not need to be included in the probate in that as a matter of law they pass to the surviving person listed on the account.

Good luck.


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